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Last Updated on December 28, 2020 by Work In My Pajamas
The Internet has changed the way in which many people shop. Before, you had to go out to multiple stores searching for whatever it is you are looking for. Now, you can find exactly what you were looking for in a matter of minutes if not seconds. While this has been very beneficial to the consumer, business owners are benefiting as well, especially small-business owners. With websites like Etsy taking off, anyone can start their own online store and market their products to reach consumers all over the world. All you need are products to sell, knowledge of how you should price each item (keeping in mind Etsy fees), and a solution for how you will mail out your products.
Get Crafty, Sell Supplies, Share Found Treasures
Etsy stores are generally split into three broad categories: handmade goods, supplies, and vintage items. Other than the stipulation that vintage items must be 20 years or older, anything goes as Etsy encourages creativity. According to the Etsy ‘Learn How to Sell’ guide, the community is comprised of more than 15 million buyers and businesses—this offers you a reach that would not be attainable should you have a small hole-in-the-wall business in your hometown.
Understanding Etsy Fees and Commissions
The one great thing about Etsy is there is no fee to be a member. That is one cost-saver right there. However, there are a few, small fees that are associated with running an Etsy shop and they are definitely something you want to take into account when pricing your item. For every item you display in your shop, you will need to pay $0.20 to list it for four months or until it is purchased, according to Etsy. Once the item has sold, Etsy will also take a 3.5 percent fee on the sale price of the item, so it is important to really sit down and do the math when it comes to setting up prices for your shop.
Shape Up and Ship Out
Once you start selling products, you will then need to ship them out to your customers. Hopefully you did some research into this portion when you were setting the shipping costs on your item; after all you are looking to make a profit here. One Etsy shop owner, The Shore Décor, suggests looking into different mailing solutions when you are first filling out your shipping policies of your store (this will be required when setting up the shop in the first place). Shipping an item can get expensive fast, so it is better to err on the side of caution and do the research before you even open up shop to ensure your shipping pricing is correct.
Get Selling
The Shore Décor shop owner also suggests taking a look at the policies and pricing of other Etsy shops to help you get a feel for what other people are doing within the community. Etsy is a truly unique opportunity for someone looking to share their creations and finds, get your shop started today.
Featured images: License: Creative Commons image source
Eric Regan is a writer who has a big interest in small business. He has written for blogs covering various topics
Thanks for the great guest post Eric! It came at the perfect time as my mom and her friends are thinking of creating an online presence to sell the things they sew together. I suggested they check out Etsy although I knew nothing of the process, so thanks again!