Everything you should know on how to sell on Etsy
If you have a talent for DIY, arts and crafts and are able to create one-of-a-kind, high-quality items, you can always start selling them on Etsy. This platform is also a special place where vintage objects (at least 20 years old) settle down. Becoming a seller is easy, just follow this step-by-step guide.
Becoming a part of the Etsy creative community is easy. Registration requires your valid e-mail address, a Facebook account or a Google account. Then you’ll have to enter your name which would represent your identity.
Registering as a seller means creating your own e-shop. You’ll need to choose a name for it, set your shop location and currency, as well as provide your billing and payment information (including billing contact name, address, telephone number, and credit card details).
If you choose to use the platform’s payment service (“Etsy Payments”), Etsy may require more detailed information such as your full name, social security number, identification ID or tax ID, date of birth, bank account information, credit card information, and/or other proof of identification in order to verify your identity, provide this service to you, and comply with applicable laws.
Please, be aware that using the Etsy shop as a constant profit source rather than just a hobby may result in additional tax payments. If you make sales in your store that exceed £1,000, you’ll need to officially register as a self-employed business person as well.
The fee for every listing is 0.20 USD. There are no standard monthly fees. If you wish to use any additional tools for promoting your goods, it will cost you $10 a month in a Plus package. This year an additional Premium package is going to appear bringing the whole set of advanced tools for active salespeople. The pricing has not yet been announced.
The transaction fee is 5% + a standard PayPal fee (if you prefer PayPal to receive your payments). PayPal is also a standard payment option used for Etsy Payments along with debit/credit card accounts. You can also choose payment by mail (buyers mail you a cheque or money order) or a different payment method (that can be discussed directly with a buyer).
How to sell on Etsy
Etsy allows you to sell goods in various categories such as clothing and accessories, toys and home décor, artworks, craft supplies, collectible and vintage items. A listing lasts for four months or until the item is sold.
While you place a listing, you decide on both the item and shipping price. Calculate all your expenses and fees before setting a price. Consider offering free shipping for small items or bulk orders. It will attract customers even if the price of an item goes a little higher.
When your item is sold, the transaction fee and a PayPal fee (if applicable) are deducted from the total sum the buyer pays (price + shipping). The rest goes safely to your account. The platform management suggests using business PayPal accounts since personal ones have some limitations.
Now it’s time to send out the order. Think about packaging. If you want to develop your brand, it should stand out and yet come at a moderate cost. Consider adding a thank-you card with a hand-written note and/or a business card. For bulk sales, you may include a small surprise gift. Small things matter. Build your loyal customer base wisely.
Becoming a good salesperson is sometimes challenging. Initially, you may also come up with a bunch of technical or organizational questions. Thankfully, the support center is available 24/7 by phone. Many answers are also available at the FAQ section online.
Moreover, the website offers many useful tips from experienced sellers regarding marketing strategies, saving tips, building a brand, etc. You can find them here.
In addition, you can join Etsy’s online communities of like-minded sellers by becoming a team member, watch free webinars, and participate in forums.
Pros & Cons
Pros. Etsy is a reputable e-commerce platform with a reasonable fee policy and a great supportive community. There’s a free mobile app that will allow you to manage your shop on Android or iOS.
Cons. They sell truly unique items so you have to be very creative to be competitive. Your choices of items to sell are restricted. The website is available only in English so it limits the number of potential customers. If your account currency is not USD, you’ll pay an additional exchange fee for every transaction.
SEE ALSO: How to sell stuff online: basic guide