Opening an Etsy Store
" The Secret to Getting Ahead is Getting Started "
I've recently clocked up over 950 Sales on my Etsy Store, since I started this venture 8 months ago, I've noticed in conversation that many of my friends and acquaintances have thought about running a "side hustle" or becoming self employed, but don't really know where to start.
I was very much in this situation in September, I had a hobby that I was enjoying and so for me the obvious step was to turn the hobby that I love - designing and making silver jewellery - into something that I could make money from.
But where to start?
Many people start with a Facebook Page that they sell through or an Instagram page, that works for some people and tends to start with friends and family and word of mouth. So I wanted to start with an online marketplace - a google search later and I came across Etsy.
Etsy
Etsy is an online marketplace exclusively for handmade and vintage goods and craft supplies. It's eBay-like listing platform appealed to me and the ability to have a storefront without setting up my own website was initially a big draw.
I stayed up late that night and by morning I had drafted a store front and published my first few listings.
Note: on signing up to Etsy you have 20 free "listing credits" which you can use to get started, one credit is worth $0.20 + VAT - if you're considering setting up your own Etsy store you can use my referral link below and you will receive 40 free listings.
Disclaimer - this is an affiliate link and in return I will also receive 40 free listings
Click Here for the Referral Link to Start an Etsy Store with 40 Free Listings
Top Tip: once you've opened your store and have listed some products share your store on your Facebook, Instagram etc or with friends and family. It really helps to get the ball rolling
Etsy Seller Handbook
Whilst you are setting up your store and have an account, it's really worth reading the Etsy Seller Handbook. Here it will explain how to create effective listings.
You will also find plenty of Facebook groups for Etsy Sellers which you may find useful - although I'd take much of the advice on there with a pinch of salt.
Top Tip: although it might seem mundane and boring, make sure you set up your shop policies in your store, be sure to include relevant legal time frames for returns in your area.
For example, in the UK the consumer has 14 days to start a return and another 14 days to return the item. Failure to do so will result in an automatic 366 day return policy !!!
Making your first sales
It may take a while for the first "proper" sale ( by this I mean completely organic, not friends and family supporting you ) some tips that I'd recommend
- offer a number of products
- offer free delivery ( if possible )
- try and offer a short turn around time if possible by holding a small amount of stock
- always dispatch within the timeframe you've quoted - earlier if possible
- once you're up and running you really need to nurture your SEO (Search Engine Optimisation) in your Title, Tags and Attributes to ensure that your product is being seen by as many people as possible
Calculating Etsy Fees
One thing to bare in mind is the Fees that Etsy charge sellers, this includes a Transaction Fee, a Processing Fee, a Listing Fee as well as fees on Delivery Charges and Gift Wrap Fees. Oh ... and don't forget they charge VAT on top of this !
There are some really handy fee calculator tools online which can help you work out what your "take home" from your Etsy Sale would be. I would advise checking this first, on average I tend to allow for around 12% Fees - which is not an insignificant chunk of the revenue. Which is why I also have a website that I'd encourage people to use where possible ( more on that another day )
Don't Expect an Overnight Success
As with all things, success on Etsy requires a lot of time and dedication and love to nurture your listings to a point that you can have reliable regular income from it. However, if you're willing to put the time and effort in, you will find it to be a source of wonderful customers who recognise the value of handmade goods like yours.