Etsy is undoubtedly one of the most accessible online marketplaces you can find for small online retailers. It is difficult to beat the Etsy Marketplace with a vast global audience of Etsy shoppers and the ability to put accessories, clothing, collectibles, craft supplies, and other unique offerings in front of them to purchase.
So how do you get an existing business started with an Etsy shop? Setting up an Etsy account with an online store is relatively easy. You shouldn’t get intimidated by the process of setting up an Etsy account.
We’ll answer all the questions you have on building an Esty shop, what you’ll need to get started, how much it costs, and how to optimize your online store to stand out from the competition. If you’re already selling items on your own website, it makes sense to consider opening your own Etsy shop.
We’ll answer the following questions about starting an Etsy business and more below:
- How Do I Start An Etsy Shop?
- Do You Get Charged For Having An Etsy Shop?
- How Do I Optimize My Etsy Shop?
- What Is The #1 Tip For Selling On Etsy?
- How Much Do Etsy Shop Owners Make Annually?
- What Are Some Industries That Perform Best On Etsy?
- Is Opening An Etsy Shop A Good Idea?
How To Start Your Esty Shop:
Etsy does an excellent job of walking a new Etsy seller through every step of the Etsy shop creation process. To break it down, below are the most important things you need to get ready to learn how to create your Esty shop and seller account.
Step 1: Open an Etsy account
Step 2: Choose your Etsy Shop Name
It’s best to think ahead and choose your Etsy shop name before you open. Pick a simple name to remember for your online store that says something about your brand and reflects your mission/products.
You might like to do some other research, like checking if domain names or social media handles are available to match your business name. Keep in mind that your Etsy shop name can’t be longer than twenty characters and can’t have punctuation or spaces.
Step 3: Add products to your Etsy Store
An Etsy seller should have at least one item ready to list as you make your way through the checklist to begin your Esty shop. Etsy recommends having ten products to get started and five to ten high-quality images of every item that show the detail and variation of your product for customers to see.
Step 4: Add a credit card and bank account
Etsy requests the bank account info where you want your funds delivered. When you start an Etsy shop, the process depends totally on the country. Etsy requires you to use your credit card to simplify the verification process in certain countries. You also will want a card allowing you to pay to buy goods. You can choose to use automatic invoices. Etsy will automatically charge you a monthly bill using your billing information in these instances.
Step: 5: Add your branding
Finally, you want to adjust your Etsy shop preferences with a professional-looking brand with a banner image, profile photo, and logo. Don’t forget that impressions are massive. As a new store joining more than three million Etsy sellers, you want to stand out from the rest with high-quality visuals and listing details. We will talk about that further in the following section.
Do You Get Charged For Having An Etsy Shop?
It’s free to make an account and start an Etsy store. However, you will find specific Etsy fees to sell online that the platform charges business owners who like to use their platform. Here are some of the essential Etsy fees you need to consider.
As with other online marketplaces, Etsy charges merchant fees for listings and the sales of its products. Although registering or starting your Etsy shop is free unless you select the paid subscription option, you must bear all the expenses related to the operation of Etsy.
It costs only twenty cents to post one listing in your Etsy shop. That expires after four months or whenever it sells.
For instance, let’s say you post one listing of a silver necklace with a quantity of 10 in stock. You’ll be charged $0.20 for that. If none of those items sell in four months, you’ll be charged an additional $0.20 to renew the listing.
On the other hand, if a customer buys the necklace, the listing fee applies as you’ve made a sale and now need to list it again for the rest of the necklaces you haven’t sold yet. That more or less breaks down to be 20 cents per item you sell. Thus, if you sold three necklaces in a single transaction, the cost to you would be 60 cents.
The platform also charges a five percent transaction fee for every Etsy shop order. That five percent is applied to the total price you charge your buyers, including customization, gift wrapping, and shipping.
For instance, you sell a $10 product with free shipping, and the customer buys gift wrapping for $3. The platform will take five percent of $13 for a total transaction fee of 65 cents.
Payment processing fee
Etsy sellers in America can accept payments directly through the platform with Etsy Payments. They can also accept payment through PayPal. With Etsy Payments, the processing fee is three percent plus 25 cents for every transaction. With PayPal, it’s 2.9 percent plus 30 cents for every transaction.
How To Optimize Your Etsy Shop:
Now that you understand the basics of how to start your Etsy shop, it’s time that we concentrate on the next crucial steps—optimizing your shop to drive traffic and help shoppers find your products. Here are some essential tips to help your Etsy shop earn reliability and traction.
Step 1: Fill out each section of your shop and bio information
From the new shop storefront page, click Edit Shop and finish each section. You can add a profile photo, about me, and bio section. You can even upload some videos and images to have a more personal introduction to your target market or show them what it takes to make your products behind the scenes.
Step 2: Set up Shop Policies
Step 3: Have professional branding across your Esty store
Your brand matters. A consistent color scheme, tagline, logo, and graphics across your shop could strongly affect how people identify with your brand, from the banner image to the packaging.
Most shops do not take advantage of free real estate, which is the banner image of the shop. That’s an excellent place to wow your potential customers with your fantastic brand aesthetic.
Step 4: Add as many listings as possible
You only need to post one listing when you start an Etsy page. Nonetheless, it’s an excellent method to have as many listings as possible ready for your customers once your store opens.
Etsy suggests ten, but you can begin as many as you like. More products make you look reliable as a brand new seller. Having more products also increases the chances that customers will click around your Etsy shop and be interested in your other listings while they are shopping.
Step 5: Consistently add new listings
You should try to update your shop with new listings whenever possible. That will help drive traffic to your store by helping increase your search results and boosting your chances of being discovered by shoppers.
Step 6: Link your social media accounts and share across platforms
Go to: Shop Manager > Marketing > Social Media to link your social media accounts. You can easily and quickly share new listings, coupons, sales, and even fun shop milestones from that page.
People Also Ask:
What is the #1 tip for selling on Etsy?
Take professional (or professional-looking) pictures. Physical items sell well online if presented correctly in our current image-driven society. It is vital to present our customers with a stylish and detailed product image.
How much do Etsy shop owners make a year?
Can a seller earn more than $100,000 per year? Very rarely, it seems, according to information available publicly. $10,000 per year is what the average successful Etsy merchant can expect to earn per year.
What are the industries that perform best on Etsy?
Etsy specializes in artisan goods. Etsy divides marketplace offerings into several categories. Craft supplies provided the most significant sales increase during the COVID19 epidemic. The list shows that 7 of 10 top-selling products during the Pandemic came from the craft supply and tools segment.
Is opening an Etsy shop a good idea?
Etsy is the cheapest way to get handcrafted goods to the market on a larger scale than you would be able to by yourself. Depending on how well received your item is by customers, it may or may not make sense to invest time into building and to maintain an Etsy shop.
You’ll be well on your way to launching a great, professional-looking Etsy storefront if you follow all the advice above. Like any business, you should always make sure the economics and the time invested makes financial sense.