Yes, my dear reader, you read that right. Not only is earning six figures on Etsy possible, but there are so many sellers out there that are earning much more than that. One thing to remember though. If making money on Etsy was easy, everyone could do it.
Etsy is an excellent platform to start as a side hustle and lead to passive income. Making six figures will need dedication, patience, and perseverance. Let’s see how you can make money on Etsy.
1. Develop a plan
First things first. Nothing that succeeds can be done without developing a plan! Kinda like, if you wanted to drive from point A to point B, you have to punch in the GPS, then you get going!
The same thing applies when attempting to sell and make money on Etsy! A plan in place is critical for success. Unlike other marketplaces where users can buy and sell things, Etsy will need a little bit more work and effort to succeed. Here is what you need to understand about Etsy first:
- You can’t sell anything and everything on Etsy. There are some restrictions
- Products you sell must be Vintage or Handmade
- Vintage items must be at least 20 years old
- Handmade products must actually be handmade and sold by you
There are the biggest restrictions that Etsy has in place, but if you’re crafty or artsy, and love that process, you can definitely succeed on Etsy.
Figuring out a niche you enjoy doing will need you to do some research beforehand. Just make sure its something you enjoy doing, so it never feels like a chore. Instead, it should feel like a fun hobby, that way you won’t give up easily! A fun example would be something like making and selling creative postcards as a niche. Super cheap to start, and easy to do. Just an idea 🙂
Another important aspect to always keep in mind is how fees are structured on Etsy. Here is what you need to know:
- $10 a month: is the Etsy Plus membership fee. This includes bonus promotional features. But when you’re starting out, the membership is free
- 5% transaction fee: is paid per sale. So when you sell anything on Etsy, there is a 5% fee for each item you sell
- $0.20 per listing: is how much you pay every time you list something for sale. It’s a one-time payment for each item that’s for sale in your shop.
Note
These are the fees at the time of writing. Etsy might change their fee structure at any time. You can check out their latest fees here
Since we’re at the planning phase, it’s important to keep these fees in mind! You don’t want to end up selling $1 items, then losing money after shipping, packaging, and fees paid to Etsy.
It’s thus super important that you put these fees into consideration when you’re first building out your store and figuring out what you plan on selling. So make sure you price your items accordingly in order to succeed.
2. Create your store
Depending on where your head is at, creating your store is either the easy or hard part.
Creating a store on Esty is super simple, and takes mere minutes to get started. You simply sign up, enter your personal details and details about your store, and you’re literally ready to go. But this is just part of the battle.
The next equally important step is to customize your store at every angle. The idea here is to stand out from the crowd, and give a good impression when someone visits your page. It’s all about perception, and you want to be perceived as a high-quality store.
It’s all about perception. That either drives customers to you, or away from you
Your store name and logo play a huge part in that perception. I know, coming up with a name is super difficult, but name generators exist out there, just google it.
The next item is having high-quality photos in your store. Here’s the thing. We live in a day and age where our cellphone cameras can take really amazing photos when there is good lighting. Ask a friend with a nice phone, or even learn how to take wonderful pictures yourself. You don’t need to invest in a $4,000 camera, technology is on your side.
Lastly, your product descriptions shouldn’t just be simple and short. Instead, take your time in describing items thoroughly, and give effort.
People can tell if you put time and care into your store. If you just do it for the sake of it, they can also tell and not care about your store either. So make sure you take your time with each step and process.
3. Market your store
Step one and two are the easy ones. You’ve developed a plan, stuck to it, and you have an actual store up and running. The hard part is getting people to know about your store and find it.
Gone are they days when you could just create a store and have people randomly find it and buy from it. It takes more time, now more than ever, to stand out amongst the crowd.
You need to go out there and tell people about your store and about what you’re selling. You can start off by telling your family and friends about it. At the beginning, these people will be your top fans and supporters, and it’s crucial that you develop pride in sharing about it. Don’t be shy, tell the whole world!
Platforms like Pinterest, Facebook, Instagram, and Twitter are wonderful places to connect to people and share your store with a broader audience. So remember to be consistent in brand and image when you create your social accounts on these platforms and share!
4. Remain Persistent
Here’s the thing, my dear reader. The steps to take are laid in front of you, but without persistence and perseverance, it’s impossible to reach the goal of earning a substantial income on Etsy.
Top earners on Etsy can make over $70,000 a month, but that’s just the top earners. Making six figures a year is a small piece of a huge pie, and it’s definitely possible to do.
You need to remember to establish a loyal fan base and use the tools at your disposal to market your products. Social medial platforms have leveled the playing field for many, as it allows you to reach out to people all over the world and have them shop from you.
The more you showcase your products, interact with the world, and relentlessly market your store, the more success it brings. Its easy to give up after a few weeks or months when you don’t see substantial growth, but you mustn’t.
That first view, that first click, or even that first sale, is proof that if you remain passionately consistent, your store might just thrive. It’s one thing to click a few buttons and create an Etsy store, but it’s another to create a brand that people return to and shop from. That’s how you make money on Etsy.
Good luck out there, and have fun!
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