Believe it or not, making money on Etsy is much, much easier than most people think. It is no surprise to us that many people think that the money-making process is difficult. This is simply because they don’t understand it thoroughly. Coupled with the fact that most people automatically throw in the towel when they don’t understand things. Sure, it is human nature, but all it takes is a little observation. Be the “fly on the wall” and pay attention to what all of the other Etsy sellers are doing, mimic their behavior and reap the same rewards. It really is that simple! Just in case you haven’t picked up on what they are doing, let’s delve into a few key points to prove that making money on Etsy truly is an effortless process.
Just One Profitable Idea Is All It Takes
Quite frankly, this is the foundation and this is where everything starts. For the most part, many Etsy sellers are selling handmade items that they make in the homes, garages, warehouses or what have you. To simplify it further, all they have done is taken their hobbies, and turned them into a real business that gives them a great income. All great incomes sprout off of just one profitable idea which is all it takes to make money on Etsy. Take a look at your hobbies and how you can monetize them. Is there anything that you create in your spare time? Find out what that may be and take it to the marketplace and see if there is a demand for it.
Research The Competition
Having a profitable idea is one thing, but you also need to research the competition in the Etsy marketplace to see exactly what you are up against. You want to make sure your market isn’t too saturated and that there is still a potential for you to pull in some good coin. Whatever your idea or product is, type that in the Etsy search engine and see what comes up as far as how many sellers may be offering products in that niche. Another helpful thing that you can do is utilize Ubersuggest to see if the keywords related to your product or niche are getting good monthly searches. If so, then that is a good indicator that there is definitely a market for your product, but more than that, wherever there is a demand, there is money that is being made.
Always Know Your Numbers
Every business that has ever been on the face of the entire planet has been sustainable simply because they know their numbers. It doesn’t matter what business you own, at the end of the day, the revenue must always outweigh the expenses. This is a cardinal rule in business and off this rule springs the common saying: “Sales cures all.” So, call your attention to Etsy’s fees that you must pay for doing business with them, factor in any other expenses and from there, adjust your price point to ensure that you are cash flow positive.
Conclusion: Making Money On Etsy Is Easier Than You Think!
This is the simple, blueprint to making money on Etsy and the process is just this simple. As we stated earlier, the foundation is having a great idea for a product. From there, you can branch off and build a legitimate Etsy shop based around that product line and as long as you beat your competition and know your numbers, you’re set.