Selling Handmade Items on Etsy - Side Hustle Review
Do you have a hobby of making crafts? Do you like making things by yourself? If the answer to the questions is yes, then you are in a path to become an entrepreneur.
You might be thinking how?
You will be amazed to know that, there are many people who will pay to buy handicraft items because of its uniqueness and originality. So, if you are someone who have the skills, then you can make good money selling your crafts online on Etsy. Turning your hobby into a business can seem difficult. So, let’s understand how you can start your journey of selling homemade items on Etsy.
So, let’s understand what is Etsy!
Etsy is an online marketplace where independent artists and crafters can sell their goods. Etsy is a place where sellers generally sell handmade items like toys, collectibles, art, home goods, vintage furniture, jewelry, clothing, and holiday items, in addition to crafts and craft supplies. It is also an outlet for part or full-time small business owners such as art shops and artisan crafters with artistic skills to showcase their goods and sell to a broader audience without needing their own website.
All you have to do is register yourselves on the Etsy website. But do remember that, Etsy charges you $0.20 per item as a listing fee and to know more about fees on Etsy check their fees and payment page.
Now that you know what is Etsy, let’s understand important things to keep in mind before selling your crafts on Etsy:
Name of your shop and what will you sell - Decide properly what will you sell in your shop. Once you have decided what product you will sell, decide the name of your shop and write a killer description.
Pricing your handmade product - In order to make decent profit you will have to make sure that your products have a sweet spot for: having an in-demand product, can source your products for a third of the sales price (at the minimum), and lastly, there's not a plethora of alternative purchases the buyer can purchase over your product.
Listing your product – for selling your handmade products for sale you will have to create listing for your products where you will have to post photographs, write catchy titles, and detail descriptions of products that customer can understand what are you selling.
Now that, we have decided what will you sell and completed preparing listing of your product – let’s calculate how much you can earn!
Let’s fist keep this point on table that every business is unique and every seller is unique. Everyone will have a different journey, some people will encounter smooth road and some people will face rocky roads.
Now, let’s calculate how much you can earn monthly. If you have priced a product at $5 and you have monthly 100 buyers then you will earn $500 and say on average 30%, is the Etsy fee and charges then you’re in hand income will be $350. Earning $ 350 as a side hustle sounds interesting right. If we are assuming the cost of goods is a third of the sales price, it would cost $150 to produce your products.
The example above is for someone just starting to sell on Etsy, but you will find sellers who started just as slow and grew quickly to under $10,000 in their first year. Some sellers even manage to grow to over $20,000, while top sellers can earn well over $200,000 annually.
Selling handmade items is an amazing opportunity for creating a side hustle out of your hobby. You can make money doing something you love. Etsy provides a platform to all people who are creative to sell handmade items. But like any other side hustle to be able to make money, you will have to do research so that you can sell to more customer. Make sure you know what your customer wants and love what you do and be patient.