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For the past seven years, Etsy – an online craft marketplace – has made it possible for everyday people to sell their craft items online. Like eBay, but for crafts, Etsy provides a place for crafters to advertise and sell their items as well as build a loyal following of customers eager to purchase their wares. For approximately $.20 per listing and a small fee for each sale, Etsy showcases creations and provides billing support and other tools so you can streamline your at-home business and increase your earning potential.
Who’s Making Money
With nearly $200 million worth of goods sold annually, Etsy is home to more than 400,000 active sellers who sell 1 to 2 million items each year. However, not all sellers are successful. Of the 400,000 active sellers – crafters who have sold at least one item in the past year – only a small percentage make their total living from selling crafts on Etsy.
Who’s successful? Members who specialize in a unique, sought-after niche have the most success. You see, there are hundreds of ordinary crafts that people do involving yarn, Popsicle sticks, beads and so forth. Ordinary crafts usually don’t sell very well on Etsy. It’s the unusual crafts, like hand-carved candle sticks, that really attract sales.
How to Get Started
Getting started on Etsy is simple. All you have to do is register and follow the prompts for setting up your own Etsy shop and fill out your profile. Although the technical aspect of opening your own shop is easy, clicking a few buttons and typing a few words won’t make you successful. You must develop a strong business plan. Research your market, advertise effectively and price your items smartly to make your store one that attracts not only customers but buyers.
Stand Out from the Crowd
The best way to stand out from the rest is to offer something that everyone else can’t. Whether you can offer a unique product, higher quality or a quirky design niche that makes people want to hit the “buy now” button, you must find your own avenue for success. Doing what everyone else does won’t make you stand out. Think outside the box; research your competition and find unique ways to market your items.
Learn to Adapt and Grow Your Business
As your business grows, adapt your strategy to maximize your earnings potential. For example, one Etsy member sold a large array of craft items ranging from crocheted crafts to paper crafts. After realizing that her crocheted crafts sold quicker and for more money, she dropped the other crafts to focus solely on the crochet side of her business.
Buying trends and customer tastes change, you must recognize trends and changes and adapt to them if you want to keep earning money. In addition to attracting customers during the holidays and other key times with customized crafts, strive to innovate daily. Always find ways to keep your customers coming back for more.
For the past seven years, Etsy – an online craft marketplace – has made it possible for everyday people to sell their craft items online. Like eBay, but for crafts, Etsy provides a place for crafters to advertise and sell their items as well as build a loyal following of customers eager to purchase their wares. For approximately $.20 per listing and a small fee for each sale, Etsy showcases creations and provides billing support and other tools so you can streamline your at-home business and increase your earning potential.
Who’s Making Money
With nearly $200 million worth of goods sold annually, Etsy is home to more than 400,000 active sellers who sell 1 to 2 million items each year. However, not all sellers are successful. Of the 400,000 active sellers – crafters who have sold at least one item in the past year – only a small percentage make their total living from selling crafts on Etsy.
Who’s successful? Members who specialize in a unique, sought-after niche have the most success. You see, there are hundreds of ordinary crafts that people do involving yarn, Popsicle sticks, beads and so forth. Ordinary crafts usually don’t sell very well on Etsy. It’s the unusual crafts, like hand-carved candle sticks, that really attract sales.
How to Get Started
Getting started on Etsy is simple. All you have to do is register and follow the prompts for setting up your own Etsy shop and fill out your profile. Although the technical aspect of opening your own shop is easy, clicking a few buttons and typing a few words won’t make you successful. You must develop a strong business plan. Research your market, advertise effectively and price your items smartly to make your store one that attracts not only customers but buyers.
Stand Out from the Crowd
The best way to stand out from the rest is to offer something that everyone else can’t. Whether you can offer a unique product, higher quality or a quirky design niche that makes people want to hit the “buy now” button, you must find your own avenue for success. Doing what everyone else does won’t make you stand out. Think outside the box; research your competition and find unique ways to market your items.
Learn to Adapt and Grow Your Business
As your business grows, adapt your strategy to maximize your earnings potential. For example, one Etsy member sold a large array of craft items ranging from crocheted crafts to paper crafts. After realizing that her crocheted crafts sold quicker and for more money, she dropped the other crafts to focus solely on the crochet side of her business.
Buying trends and customer tastes change, you must recognize trends and changes and adapt to them if you want to keep earning money. In addition to attracting customers during the holidays and other key times with customized crafts, strive to innovate daily. Always find ways to keep your customers coming back for more.
