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HOW TO MAKE MONEY ON ETSY!Of course you can! ...Get ready to learn how in my Earning on Etsy series!
When I first heard about Etsy back in 2007, the entrepreneur and the crafter in me got curious. I wasnít sure if I could make money. I didnít have a business plan or goals.
I wanted to try it, just an experiment. We were grateful for the success of my experiment when my Etsy income fed us during law school. Now itís helping us as we continue to pay for law school.
I will tell you more of my story as my Earning on Etsy series continues, but for now, letís talk about you!
Do you have a handmade specialty? Do you make jewelry? Do you sew clothes? Are you a potter? Are you a carpenter? Do you paint portraits? Whatever your crafty or artsy skills are, there is a way to market it on Etsy If crafting isnít your thing, but you frequent estate sales and have an eye for vintage treasures, you can sell those on Etsy too!
Etsy.com is an online marketplace for all things handmade. The possibilities really are endless. In addition to handmade, Etsy includes vintage items (at least 25 years old) as well as supplies for arts and crafts.
What should I sell on Etsy?
Sell something that you enjoy creating. Something youíre good at making. Something that youíre proud of. Something thatís unique. If you can figure out how to ship it, then go right ahead and sell it. Browse Etsy to get your wheels turning. The sky is the limit!
Donít let the logistics of shipping box you in, though. If itís something you canít ship, could you sell a pattern or tutorial to make it? You can sell digital creations on Etsy too, so patterns, photography, printables, web design and so many other ideas are fair game.
You have complete control over the price of the item and the shipping charges. You can decide where you are willing to ship. Many handmade items are made-to-order and production times vary, so you can specify in your listing how long it will be before the item is shipped.
Donít let the price you think you should charge (whether high or low) dissuade you now. We will talk about pricing in another post. Right now, just brainstorm all of the possibilities of what you could sell.
How much does it cost to sell on Etsy?
Etsy charges $.20 per listing. Each listing can include 5-photos and lasts 4-months or until the item sells.
If you have more of the same item available, you can set your listing to renew automatically when an item sells. If you havent opened an Etsy shop yet, you can get your first 40 listings free.
When a listing sells, you are charged 3.5% of the price (not including shipping). This is added to your monthly bill.
Each month you get a bill from Etsy that included the listing fees ($.20 per listing), the transaction fees (3.5% of sale price) and shipping labels that you purchase through Etsy.
You can determine the methods of payment you will accept. Paypal used to be the primary form of payment, but now Etsy has their own payment system, Direct Checkout, that also accepts credit and debit cards. You can also allow customers to send personal checks or money orders.
PayPay charges a flat $.30 per transaction plus 2.7% of the total money collected(item price + shipping). Paypal takes the fees out and adds the remainder to your Paypal balance, which transfers easily to your regular checking or savings account.
Direct Checkout charges a flat $.25 per transaction plus 3% of the total money collected (item price + shipping). Etsy takes out the Direct Checkout fees before making the remainder available in your Shop Payment Account.
Deposits are made weekly into a bank account of your choice. With the push of a button, you can request that a deposit be made sooner though, if weekly isnít soon enough.
Explore & sell someplace new, open up your horizons, you'll be glad you did! A great introduction ebook explaining ETSY!