Should I give a start on Etsy? How to make money online with etsy? If you are also thinking for same questions this artilce is for you. The Etsy online marketplace is a prominent player in the eCommerce realm. This comprehensive article aims to guide you through the journey of becoming a prosperous Etsy entrepreneur and make money online with etsy.
How to make money online with etsy?
For both seasoned small business owners and newcomers venturing into selling their creations, launching an Etsy store marks an exhilarating transition from hobby or creative passion to a lucrative venture.
In this comprehensive guide, we will equip you with all the necessary knowledge on how to earn money on Etsy. Whether you seek a side income alongside your day job or aspire to transform your craft into a full-fledged career, we’ve got you covered.
You may referer How to Open an Etsy Shop further to know more about this.
Why sell on etsy?
Etsy does not function as a platform for hosting your personal website; rather, it serves as an online marketplace specializing in digital, handmade, vintage, and craft items, among others.
In the initial quarter of 2023, Etsy disclosed a worldwide total of 89.9 million active buyers who made purchases within the Etsy ecosystem. The peak for Etsy’s active buyers occurred in the second quarter of 2021, with the figure reaching 90.49 million. (Source – Statista Research Department)
Also Read – Top 15 ways – How to make money online in UK?
Why start an etsy shop?
Here are the reasons why starting on a trusted marketplace is advantageous for beginners rather than launching a standalone website:
Get Pre-existing Audience
Selling on Etsy provides exposure to a vast pool of potential buyers, leveraging the platform’s extensive user base. With millions of users already trusting Etsy, you can showcase your products to an eager audience tailored to your niche.
This allows you to focus less on marketing efforts and dedicate more time to creating your offerings. For instance, as a graphic designer exploring how to earn money on Etsy, you can rely on the platform’s algorithms to connect with users seeking products crafted by designers like yourself.
Simplified Payment Processes
By selling through a marketplace, you can avoid the complexities of setting up secure payment systems for your customers.
Etsy offers secure member logins for its marketplace customers, along with various safe payment methods directly through the platform. When learning how to sell on Etsy and generate income, minimizing setup time is essential.
Lower Financial Investment
Consider the financial aspect. Operating your own website entails expenses such as hosting, domain registration, and management fees, which can be substantial when starting a business.
Etsy eliminates these concerns by handling them on your behalf.
Although you’ll incur fees to use Etsy and list your products, the initial investment is significantly lower compared to maintaining a standalone website.
What can I sell on etsy?
Regardless of the products you create, Etsy offers a platform for their sale. Whether it’s handmade furniture, custom t-shirts and hats, engraved jewelry, personalized calendars, or even digital downloads, the possibilities are endless.
As per Etsy website below is the list.
- Handmade items
- Vintage items
- Craft supplies
- Digital items
- Prohibited items
- Listings that violate Etsy’s Intellectual Property Policy
- Services or rentals
- Metaphysical services or items
What is the downside on Etsy?
Here are top downside as well while making money online with Etsy.
Fees and delayed payments
- Payment options include monthly, weekly, fortnightly, or daily, but after being “paid,” it may take several days for funds to reach your bank account.
- Tracking listing fees, commissions, and payment charges can be challenging, especially when they are deducted in a lump sum monthly. It’s crucial to set aside funds for these expenses and not consider all Etsy earnings as profit.
Primarily a US-based platform
- UK sellers face disadvantages compared to their American counterparts, including longer shipping times, higher postage costs, and prices displayed in US dollars ($6.20) instead of pounds (£5) for US buyers.
Limited control
- Operating a store on Etsy differs from managing your own website. You lack complete control over design aspects, and establishing a distinct personal brand may be more challenging.
- Etsy reserves the right to suspend your account if you violate their policies, although this is unlikely unless you breach the rules.
- Transitioning from an Etsy store to an independent platform is often viewed as more professional if you intend to expand your business. While Etsy is an excellent starting point, scaling may necessitate migrating to a standalone website.
Alternatives to etsy UK
Here are etsy alternatives in UK.
eBay
Looking for a quick sale? Consider eBay, a widely known platform where you can sell various items similar to those on Etsy. It’s ideal for those who can keep costs competitive and prioritize swift sales.
Folksy
Prefer not to ship internationally? Explore Folksy, a handmade-only website tailored specifically for UK sellers, excluding vintage items.
Shopify
Interested in having your own website? Shopify offers robust website building services for creating online stores. While there are monthly costs associated with each plan, it’s essential to assess whether it aligns with your budget.
Vinted or Depop
Selling clothing or accessories? Explore platforms like Vinted or Depop, which specialize in fashion-related items and provide ample opportunities for selling clothes online.
Not on the High Street (NOTHS)
Ready to invest in your business? Consider Not on the High Street (NOTHS), a UK-based platform offering Etsy-like products with a trusted reputation.
However, note that becoming a seller on NOTHS requires an application process, which can be challenging. Additionally, accepted sellers may be subject to a joining fee of £199. Despite the initial investment, if you anticipate higher sales potential on NOTHS, the fees may be justified.
What is etsy print on demand (POD)?
Print-on-demand (POD) is a business approach where products like apparel, accessories, or home decor are manufactured only upon receiving an order. This eradicates the necessity for inventory management and upfront expenses. In a POD business, designs are digitally printed on-demand, enabling customization and adaptability.
Furthermore, with print-on-demand services, all post-sale processes, including digital printing, order fulfillment, and shipping, are managed by your supplier.
Another significant advantage of print-on-demand is that once everything is set up, fulfilling an order after making a sale requires only a few clicks.
There are various partners platforms as listed below.
| Partner | Good | Bad |
|---|---|---|
| Printful | Extensive assistance for novices, diverse array of products, efficient fulfillment network | Elevated prices |
| Printify | Extensive range of products, including exclusive items, with the option to select manufacturing facilities globally for optimal efficiency. | Product quality may vary due to involvement of multiple partners. |
| Merchize | Highly competitive pricing, comprehensive support from start to finish, and distinctive offerings such as automotive accessories. | Limited product range due to being a newer company. |
| Gelato | Extensive fulfillment network | Restricted selection with approximately 90 items available. |
| Gooten | Quality niche products such as puzzles and yoga mats, with responsive customer support. | Unable to select manufacturers, restricted integrations. |
| Art of Where | Exclusive items like notebooks and wooden decorations not available elsewhere. | Shiping within USA & Canada |
| Teelaunch | Fashionable specialized electronics and home decor items. | small product catalog, long shipping times |
| Custom Cat | Extensive selection of customizable items. | USA based, makes global fulfillment challenging. |
| Prodigi | Affordable pricing. | No direct Etsy integration, manual order process |
| Printed Mint | Attractive branding and packaging design. | Expensive pricing, lackluster Etsy integration |
