Hello again, savvy savers! I hope you all are well rested, and ready for the day! So, today I want to focus on creating passive income from items you may have on hand. I am speaking of ETSY. Today, I would like you all to consider all of the homemade crafts, recipes, items, and crafts that you have a knack for making, can easily make from the items you have on hand at home, or items that can be made quickly! Are you a painter, knitter, crafter, good at wood working? Can you make candles, wax melts, or boot cuffs? Then my friend, this is the post for you! I want you all to consider opening up an ETSY Shop, and finding your creative niche!
So, why ETSY?
1) If you’re an artist, jeweler, soap maker, knitter, baker, or you simply have a house full of vintage items, then you might be in a perfect position to start your own business on Etsy.
2) Etsy is an online marketplace designed exclusively for people selling handmade and vintage items.
3) The site allows people from all over the world to sell their homemade goods, and anyone, from stay at home moms to well-respected gallery artists, to have an open market to sell their work.
4) Currently, Etsy has over 400,000 sellers, 7.7 million listed items for sale, and over 7 million customers. In 2010, the site sold more than $300 million worth of goods.
What Can I sell:
- Crocheted items
- Soap, lotions and candles
- Handmade clothing
- Handmade furniture
- Books and magazines
- Vintage items (20 years or older)
- Bags and purses
- Baked goods such as cookies, cupcakes, bread, jam, etc.
- Yarn and other supplies catering to the handmade/crafting crowd
- Blown glass
- Handmade paper items
- Upcycled goods
- Nearly anything!
How to Sell:
1) You should first start by figuring out what you will create and sell.
2) Next, inventory what supplies you have on hand to create your products.
3) Setting up a Seller Account on Etsy is an easy, two-step process. First, you’ll need to have a Paypal account, and a valid credit card, and will need to enter your billing information. You will need a valid credit card so Etsy can verify your identity.
4) Setting up your shop is going to take more time. You can create a customer banner for your Etsy store, and you’ll want to upload a picture or logo so customers can put a face or image with your shop.
5) Next, create a prototype of several items. It also goes without saying that you’ll also need to photograph all your items, and create a listing for each specific item, too! Also, be sure to use “tags,” or keywords, that will help customers find your items.
6) Something I have found to be helpful it to cross-list items. For instance, imagine you’ve just listed a turquoise necklace. You would use tags such as “necklace”, “turquoise necklace”, and “blue”, all which will help your item get noticed when customers search for those specifics.
7) Pay for your listings. When items sell, be sure to quickly ship, usually within a business week, and mail all parcels with signature confirmation delivery. Payments will be added to your sellers account within 48 hours of payment clearing. All listings will need to be renewed seasonally!
- Fees are charged per sale; a flat 3.5% fee will be added to your sellers account only if an item sells.
- Fees are refunded on returned items.
- Be sure to create a clearly expresses return and shipping policy.
- Be sure to create a detailed customization policy, if you plan to allow changes be made, per order.
- Consider changing stock seasonally.
- As your store grows, your sellers account ceiling will grow accordingly; the larger the shop the more charges can be added to your account.
- All account fees are due the first business day of each month.
- You can charge shipping costs to your account, up to your limited account cap.
- Account caps are evaluated and adjusted bi-annually in July and December; you are emailed if your account cap changes.
- Be sure to create an email account to go with your shop name; i.e. email@example.com.
- Always use USPS’s Media Mail option, for shipping heavy books.
- Be sure to create a Facebook fan page, to advertise your goods.
- You can create in-app ETSY coupons for customers; be sure to include a thank you card with your coupon code enclosed with each order to promote return business.
- One week after delivery, you can politely ask buyers to leave you ship feedback.
- Never list orders for items that you cannot fulfill or have stock to prepare!
- One of the most amazing aspects of Etsy is the amount of support and the sense of community you get through the site.
- Etsy has a lot of helpful tutorials to help sellers get more exposure and earn more money.
- The forums are extensive and Etsy’s thousands of sellers will help answer any question you have about setting up your shop.
So today I challenge you to sell items on ETSY! Moreover, do you already sell on ETSY? What has your experience been like? Leave a comment and let me know your thoughts! Be sure to come back this evening to see how my daily challenge went, as well as how I was able to additionally save around my home!
Here’s to saving,