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Making money on Etsy?

I'm thinking about starting a home business on Etsy, but don't know if it's really worth it...has anyone had experience selling on Etsy before? etsy entrepreneurship small-business

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Ellen’s Answer

Good question! I have an Etsy shop selling beaded jewelry, so here is my experience.

Etsy is huge, there are thousands of people selling stuff on Etsy. I sell beaded necklaces, but there are hundreds of other people selling beaded necklaces. My necklaces are nice, and I sell them at craft shows, but I'm really not making much money on Esty. I know I could do more with marketing of my necklaces through the Etsy resources, but I'm really only selling them as a hobby, so this is fine for me.

However, there are people who do make money on Etsy. These vendors often have what is know as a "unique selling point", something that makes them stand out. I know someone who raises goats and she makes soaps from the goats milk, and she is successful because her soaps are unique, and she markets them seasonally for different holidays with unique packaging. She has a loyal customer base that keeps on coming back to her site. She is also a good business woman and understands how to keep her accounts straight.

The great thing about Etsy is that they are very helpful, and there is a whole section of their website devoted to helping people like you open a shop, from how to photograph your times to understanding how to collect sales taxes and so on. I would check out this section of the Etsy website and read over what goes into setting up an Etsy shop. You might also begin following other shops that sell items similar to yours and look at them carefully and see what you can learn from them. (I am not suggesting you copy them, but see what works for them and apply it to your situation.

Remember, when you open an Etsy shop, you will become a small business owner, which can be very time consuming, but also very stimulating! Best wishes!

Thank you, Ellen! I will definitely take this information into consideration! Sydney P.

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Jennifer’s Answer

Go for it! Such a low risk, and Etsy is a very simple way to connect with many potential buyers.

Make great items, take great photos, & write great descriptions to market your work.

With > 3 Billion in sales in 2017, it’s a very active marketplace. So, be as unique as you can to compete.

Thanks for the response Jennifer! Sydney P.

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Claire’s Answer

I had an Etsy shop and I loved it. The pros are that the website and payment platform are all set up for you, Etsy is easy to use, and it's a great way to reach customers (compared to having your own random website).

The cons are that unless your items are made-to-order, you need to order a bit of inventory on hand so there is an initial investment. You also need to design your Etsy to make it beautiful and attractive to customers (good photos, pretty page banner, etc.) However, if you were already thinking of starting a home business, you'll likely already have inventory on hand.

Claire recommends the following next steps:

Start off with listing a few items (1-5) and see how you like it for a month! Etsy is really low-commitment and easy to use, so you won't lose out on too much by trying it!