How to Make Money on Etsy 2024: A Useful Guide For You

Hustling right now to sell products on Etsy? 

Every seller asks us one of the common questions: “How to make money on Etsy?” 

We always WONDER why people do not do proper research and follow others without knowing the ABC of the online business. 

Nowadays, anyone can open an Etsy store and start selling. But working as an independent seller without having a proper marketing strategy leads to failure in an ecommerce business. 

Having decades of experience in online marketplaces, we aim to help sellers run their businesses successfully. Our experts devise personalized marketing plans which lead to more sales, potential customers, and ULTIMATELY MORE REVENUE. 

In this blog, we will guide you on how you can make some extra cash on Etsy and who KNOWS it might replace your job. 

What is Etsy? 

Etsy is one of the largest ecommerce websites. It has more than 4.3Million active sellers. It is a global operation with active sellers in different corners.

The INTERESTING thing about Etsy is it is EASY TO USE. Anyone can open Etsy stores. You only have to pay a small FEE upfront.

When you make a sale, you must pay a percentage FEE. 

Sellers can sell handmade items, crafting supplies, pre-loved items, or vintage items.

How to sell on Etsy? 

ANXIOUSLY waiting? We got you. 

Here are the key steps to start selling and making money on Etsy.

1. Selection of products to sell on your Etsy shop

Choose WISELY, as it is the Start of the WHOLE NEW online business. 

The PROFITABLE Product niche is difficult to find. But it is an ABSOLUTE GOLD MINE. The more time you spend exploring the online market and doing product research, the more WORTH it. 

You can use the Etsy Hunt tool. It is FREE TO USE. It offers more than 48 Million product listings.

2. Choose your Etsy store name and logo

Select a UNIQUE name for your Etsy shop. Think of something SIMPLE, not too SNAPPY.

Do not clash with anyone else’s store. For this, you can try googling your name then you will get to know if the name already exists or not. 

After deciding the name, make your LOGO. You can use FREE Programmes to create logos, such as CANVA. 

3. Upload attractive and clear images of your products

Great PHOTOS really make a DIFFERENCE. It attracts potential buyers to buy your product. 

Always upload clear photos with transparent backgrounds. 

4. Save up some amount

Each Listing on Etsy costs 15p. 

We RECOMMEND, 

Invest 90p into listing 6 products as it is enough to get you started on Etsy. 

Are you SAVVY with Social Media and then promote your own website or store online for free. It helps to find more potential customers and better reach tour shops.

5. Create a postage plan

Researching the most cost-effective way to post your creations is an ESSENTIAL step. 

Shipping the heavier or bigger items, then go for the Courier company instead of using the Post Office. 

Knowing the cost before going ahead is necessary. What if you had to pay $4.99 but were charged $2.99 (A NIGHTMARE). 

Suggested reading: Etsy Review: Is Etsy Safe for Online Shopping or Selling?

What are the price costs of Etsy? 

Do not get CONFUSED with other selling sites like Amazon or eBay. Etsy has different fees, and prices. 

Three different types of Etsy’s fees are:

Listing fee	Costs up to 15p to list each item. The item lasts for 4 months on Etsy stores.
Transaction fee	Etsy charges 5% of your sale price, including packaging and postage fees.
Payment processing fee	It costs up to 20p + 4% of the total payment, including postage.

Etsy Plus

The Etsy Plus subscription for £7.40 a month gives you more PERKS and ACCESS to FEATURES. 

The outstanding features include: 

• Shop customization: It allows you to customize your shop the way you want. 
• Store Address for a year: You will get the 50% off a custom .com address. 
• Option to update the buyers: A GREAT FEATURE. You can update the buyers about your new product’s arrival. It will help you to sell your product as early as possible. 

How to make money on Etsy? 

Opening your own Etsy shop and want to make more sales? 

CREAMING UP what you want inside your own Etsy store and digging into the product details boosts sales. 

Come up with Profitable Ideas

Start BRAINSTORMING and come up with different ideas. WEED OUT the good ideas.

It is essential to spend time on your Etsy store. Doing proper research is necessary for generating more revenue and sales.

Looking at profiles and products of other Etsy sellers will give you more ideas. If the sellers have TONS of positive reviews and sales, it shows a DEMAND for those products.  

Determining the costs

Got enough SOLID IDEA? Now, calculate the things and see if you are making enough profit logistically or not.

• Start figuring out the costs. 
• Start getting pricing for the supplies
• Determine the costs of making items

Do you have Labor-Intensive items? If yes, then it’s AMAZING as these are more PROFITABLE ones. It will definitely save you time.

Some other factors that you should know are:

• Listing products fee of Etsy
• Transaction fee
•  Paying taxes on your Etsy income

Take time to evaluate things and research properly to make money on Etsy. BE HONEST with YOURSELF. 

How much money can you make on Etsy? 

Here, We will be HONEST with YOU. How small an amount you can make on Etsy entirely depends on how successful your Etsy store becomes. 

According to research, most people make a steady income of $43k to $46k a year. While some work as a FULL-TIME Etsy SELLER after quitting their jobs.

Our TOP TIPS to make money on Etsy are:

• At Start, take things slowly. 
• Find the product category in which you are interested. 
• Do the best product photography 
• Do the proper market research
• Market your store on different sites such as TikTok, Instagram, and Pinterest
• Manage time on your Etsy business effectively 
• Do not get down with the odd bad review

Etsy marketplace is different from any other online marketplace. It is ULTIMATELY up to you to make a SUCCESS.

What are the most popular items to sell on Etsy? 

Most POPULAR and HOT-SELLING items are:

Craft Supplies and Tools

HANDS DOWN! This product category is the HOT-SELLING and KING of 2021. The reason is that people always love to buy items for their favorite hobbies out there. 

Some items that you can sell on Etsy the right way are:

• Beads and Jewelry  
• Chains and pendants
• Jewelry-making tools
• Paper and cardboard
• Home improvement supplies

Jewelry  

Among many TOP ENTRIES, the Jewelry product category is one of the TOP-SELLING. In the era of crafts and handmade products, people LOVE to make their own personalized Jewelry. 

The HOT-SELLING PRODUCTS are:

• Polymer clay items
• Beads
• Stainless steel
• Seashells and pebbles

Home and Living

TELL ME, Who does not like to decorate their homes? No One, That’s the reason it is one of the HOT-PRODUCT Categories on Etsy.

The items are:

• Stationery supplies
• Wall décor
• Decorative rugs
• Frames
• Candles 
• Bathroom Accessories

Tips for Etsy Sellers to Make More Money 

Do not be AFRAID of entering the world of Etsy with a BANG. 

Our TOP 3 TIPS on how to make money on Etsy are:

1. Optimize the Listings for the Search Engine of Etsy

So many products are COMPETING for ATTENTION. 

What if your product listing is BURIED several pages deep? You will not get enough exposure, and ultimately you will not make any sales.

Promoting the products and working on Etsy search is a KEY to Long-Term success. It helps an Etsy shop owner to generate more sales.

2. Etsy Shop Owners Run Ads

Avail the Option of ADVERTISING. It will give you more exposure to your listings. A potential buyer can see your Etsy ads throughout the site and can buy your product. 

Get your items in front of the RIGHT customers and INCREASE the number of SALES.

3. Drive Traffic from Different Sources

Promoting your listing on platforms like Pinterest will give your Etsy shop more views. 

Ultimately, the potential buyers will buy your items, and you will get SALES (YEAH. Go for it and PROMOTE NOW!)

Pros and Cons of Selling on Etsy  

OH NO! Are you still confused if Etsy is suitable for you or not? 

No worries. Look at the PROS and CONS and then DECIDE. (OBVIOUSLY, You will start Selling on Etsy)

Potential Benefits of Selling on Etsy are:

• On Etsy, buyers prefer to buy homemade and QUIRKY items. Customers appreciate the UNIQUENESS and Quality of items instead of location or price
• Etsy offers so MANY AMAZING features and PERKS. It allows you to add BRAND logos and LINKS to your SOCIAL MEDIA accounts. Buyers can easily find out about your store. 
• Etsy gives a lot of INTERNATIONAL OPPORTUNITIES. As per reviews, the Etsy sellers in the UK say they receive many orders from OVERSEAS. 

Some of the MAJOR DEMERITS of selling on Etsy are:

• The payment procedure is very SLOW. It takes about 3 days for the MONEY to hit the BANK.
•  Listing fee on every new product. 
•  It is a US-based website. UK sellers are at some disadvantages, such as increased shipping time and high postage prices. 

FAQs about How to Make Money on Etsy

What’s Next

THE SKY IS THE LIMIT.

If you want, you can take the idea out of the hobby and turn it into the real ENTREPRENEURSHIP Realm. 

Etsy presents an AMAZING OPPORTUNITY for sellers who want to sell crafty, vintage, or homemade products to a MASSIVE AUDIENCE. 

Do you want to launch your own Etsy shop? We know that it will be an incredibly lucrative and satisfying new undertaking. 

If you face difficulty setting up your store or finding the product to sell, then CONTACT US. Our experts at Leeline Sourcing will get back to you with a FREE quote ASAP.