Want to earn some extra money or eventually replace your 9 to 5 job? Here’s a simple guide on how to earn money with a side hustle on Etsy.
Interested in learning how to earn money with a side hustle on Etsy? Want to earn some extra money or eventually replace your 9 to 5 job?
Well I'm going to show you how to use the powerful marketplace called Etsy to make extra money. This is for crafters, creatives, the business savvy and everyone in between.
Ready to dive in?
Here’s a simple guide on how to earn money with a side hustle on Etsy…
How to Earn Money with a Side Hustle on Etsy
What Is Etsy?
Etsy is a huge marketplace dedicated to offering handmade goods to the public. Sellers from around the world gather to sell their handmade masterpieces. If you haven’t visited the site, it’s truly an addictive adventure that you’ll get swallowed into.
Here are some examples of products you can find there:
- Knits (like gloves, scarves, etc.)
- Digital downloads (like printables, digital coloring books, etc.)
- Kid's wear (like onesies, etc.)
- Paper goods (like wedding invitations)
Plus so many more items! Products are sold by individual sellers and Etsy is the marketplaces that sellers transact on. It’s like virtually going to the mall. Stores sell in the mall and the mall is the marketplace.
There is huge money to be had selling in a marketplace. It’s great because generally it’s pretty affordable to participate in as a seller and because their audience is so huge you’ll get great exposure with less work than if you opened your own private website. <—That's why we moved all of our art prints over to Etsy from our own shop.
How you get started with Etsy?
First, figure out what you want to sell. What will your niche be? Do you have a skill? Have a hobby you’re passionate about? Are you a tech genius? Do you have a love for creating crafty gems?
Once you decide on this, the next step is to figure out your store dynamics.
Some questions to ask yourself:
- Will you need materials? Where will you get them? Do you need a business permit or reseller license?
- Will you make to order or produce in bulk and store? Where will storage be?
- Are you paying yourself a salary? Will you hire employees?
- Do you have a budget for marketing and promotion?
- Will you have time to fulfill orders?
Once you figure this out, next visit this page to set up your store:
Open your Etsy shop by completing a few steps including: naming your shop, adding your items, and setting your payment and billing methods.
Okay, I have an Etsy store, now what?
Promote, promote, promote. Once you’re open for business, sales will most likely NOT start flooding in just like that. You will need to share your shop. Think about how you will spread the word about. You can explore free or paid methods for this.
Some examples of free promotion methods:
- Make business cards at home and deliver them to local businesses
- Get on social media and post
- Join online groups and network
- Have friends and family spread the word
Some examples of paid promotion methods:
- Paid ads like Google Adwords or social media ads (Facebook ads, Stumbleupon paid discovery, etc.)
- Hire SEO or marketing experts
- Do influencer marketing
Don’t skip the marketing and promotion. It’s a big mistake many new sellers make but it’s so important. Sure, you might make sales without marketing efforts but if you want to make more money or possibly replace your full time job with income from Etsy, invest your time and effort into advertising (free or paid).
Tips for Etsy Shop Maintenance
As time progresses, you’ll find your way through maintaining your store. Things like determining when you need to restock, reorder materials, buy shipping supplies, etc. are important to keep in mind. Check out these helpful tips to keep you on track:
- Be active with your store at least 5 times per week
- Look at competitors, stay abreast of market developments, trends, and changes
- Monitor when supplies need reorder
- Keep accurate records (taxes, statements, etc.)
- Network, make friends and learn from other sellers
- Join collaborative groups (like Twitter chats or Facebook groups)
- Keep learning everyday
Resource: Etsy Forums
Earning a side hustle on Etsy is definitely doable. Although you can't just slap up a store and start earning passively like magic – there is a little more to it than that. But if you do the work initially that needs to be done, you can most certainly earn money with a side hustle on Etsy!
Are you a Etsy seller? Do you have any other expert advice?
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