Making money on Etsy sounds like a great way to make money for some. You can probably work from the comfort of your home and sell something that you love. There are so many possibilities for how you can make money on Etsy. And owning your own business is another positive.
There are many different areas to think about when making money on Etsy. Read below to find out! 🙂
How will you make money?
You need to think about what type of products that you will sell. Will you wholesale products or make your own?
Some Etsy owners make a very minimal amount of money by selling their products on Etsy. Can you make a liveable wage? Would you be able to make more money per hour by working somewhere else?
You have to think about how much these products will cost. Some often think that selling knitted items on Etsy sounds like a great idea, but you need to think about the overall cost. Yarn is expensive. And then there is labor to think about as well.
How much will shipping cost to deliver your item to your customer? Will no one want to pay for the shipping because it will cost more than the actual item that they are buying?
How much will you charge?
There are many, MANY shops on Etsy. Many people probably already sell a product pretty similar to yours. How will you differentiate yourself? Will it be by price or quality? Will you charge more than others or under charge and hope to make money by selling a larger volume?
Who are your target customers?
Thinking about who your target customers is very important when thinking about how you will make money on Etsy. Advertising on young women’s blogs but your target market is grandparents is not exactly the wisest thing to do. This is most likely just wasted money since your target market most likely will never see your advertisements.
How will you advertise?
Many Etsy shops advertise in many different ways. Advertising your product can be very important because you can reach a wider market, and hopefully even more sales will come from your advertisements as well.
You can advertise by placing advertisements on blogs and websites. You can ask bloggers to use your products and do reviews on them. An example would be to ask a blogger to wear the clothing items that you sell and to do a review and include pictures.
Do you make money on Etsy?