How To Make Money On Etsy In Canada? Beginner’s Guide
If you are an artist you would naturally want an ideal platform to showcase your craftsmanship to sell your stuff. As a result, tons of online marketplaces have emerged in the last few years.
Such online sites are a boon for individuals and small businesses who are trying to create their niche inside a huge world where there is little scope to flourish.
In such a scenario, Etsy is your one-stop solution if you are looking for a genuine platform to list your products. But the question is, how a newbie can sell on Etsy? Well, that exactly what I’ll discuss today, and all that it takes to open an Etsy store. So, let’s dive in…
What is Etsy?
The idea behind Etsy initially was to incorporate the concept of craft fairs into the e-commerce world. It was launched in 2005 and was mostly used to sell handmade products like hand crafts and vintage pieces.
Over the years, it has massively diversified the variety of products and now you can visit Etsy to find anything fancy and unique.
Statista estimate that there will be around 7.5 million sellers and about 96.3 million active buyers in 2021, you can therefore imagine how big of a deal it is. It has replicated the concept of craft fairs with a much more stupendous impact online.
What to sell on Etsy?
As I mentioned, Etsy is the perfect place to find items that arouse curiosity in the buyer. In a world crazy for fancy and DIY stuff, unique handmade items sell like hot cakes in Etsy.
Although it is mostly used to search for handmade, you may find a wide array range of different products on this platform. Broadly speaking, products such as vintage pieces, posters, toys, home decor, jewelry, baby items, fancy stationery, etc. can sell well on Etsy.
Also Read: How To Start A Blanket Selling Business?
Benefit Of Selling on Etsy?
Etsy has a simple and intuitive way of functioning for small business owners and individual artists to showcase their best creations and make money from them. To put it simply, it allows you to create your personalized store with proper branding, wherein you can list all your prices together in one place.
Also, you can’t neglect the enormous audience of more than 33 million people, 40% of whom are estimated to be repeat buyers. Third-party sellers can engage with the audience by mentioning their social media handles and dropping coupons to attract more buyers. Furthermore, Etsy’s mobile app is also a great blessing for sellers.
Steps To Start Selling On Etsy
If you are scratching your head about how to sell on Etsy, you are at the right place. You need to first open your Etsy store to start listing the products you wish to sell. Below is a step-by-step guide you need to follow for the same-
1. Creating Your Etsy Account
You can sell on Etsy only if you have a consumer Etsy account. Go to the ‘Sign In’ option at the top right corner on the Etsy site and a dialogue box will pop up.
If you don’t have an account, click on ‘Register’. You will then have to verify your account via email confirmation.
Once you sign in to your Etsy consumer account, you will find a series of options at the top right corner. Just beside the shopping cart icon, you will see the icon of a circle with a man inside.
Click on the icon and a dropdown menu will pop up for you. From the options, select ‘Sell on Etsy’. A new page will open where you will see a button ‘Open Your Etsy Shop’.
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2. Enter Shop Preferences
Fill in all the information about your shop preferences such as language, shop currency, and shop country. Etsy will ask you if your shop is a full-time or part-time business.
Select the most appropriate option. Once you are done, click on the ‘Save and continue’ option at the bottom right corner of the page.
3. Name Your Store On Etsy
Now, you need to enter the name with which you want your shop to be recognized among buyers on Etsy. Remember that our store name cannot exceed 20 characters.
Assign your shop a unique name. It should have unaccented numbers and Roman letters and there should not be any space between the characters.
Once you enter a name, click on the ‘Check availability’ option. You can choose from Etsy’s suggestions too. Finally, click ‘Save and continue’.
Also Read: How To Make Digital Planner To Sell On Etsy?
4. Create the Listings On Etsy
Generally, Etsy suggests you create at least ten listings if you want your store to be seen by prospective buyers.
Your listings may include the following:
- Photos: You need to post a minimum of one picture per product. You can go up to ten photos. While buying certain items, buyers might need to estimate their size. So it is recommended that you place a ruler next to the product and then post its photo to make it easy for buyers to understand the dimensions.
- Videos: While these are not compulsory, demo videos that show the product’s usage can work as a bonus.
- Listing information: You can specify the product information about its manufacture and whether it is a physical or digital item. Add a description to make it elaborate.
- Inventory and pricing: After analyzing all the costs, quote an appropriate price for the product.
- Product variations: This is for items that come in different colors and sizes. If you offer personalization for the product, switch ‘Personalization’ to ‘On’.
- Shipping: If you enter your processing time, destination, size, weight, and other shipping details, Etsy can calculate the shipping cost for you.
Once done with the listings, click ‘Save and continue’.
5. Select the Payment Settings
Specify whether you are a sole proprietor or a registered entity. In the case of a sole proprietorship, enter details like your country, address, date of birth, phone number, etc. You must enter your legal business name, address, registration number, etc. if you are incorporated.
Next, specify the country where your bank is located. Enter the bank account details where you want the money to go.
6. Mention your credit card details
Etsy will need your credit card details since you have to pay fees such as transaction fees, listing fees, and payment processing fees. For a hassle-free experience, you can go for auto-billing where Etsy will bill your card on a particular date automatically.
7. Open your Etsy store
Now, the ‘Open your shop’ symbol will turn black. Once you click on it, your store on Etsy is open and you can share the shop URL with your contacts.
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8. Update your bio
This section is a great way to develop an emotional connection with the customers. You can tell your story and the cause and inspiration behind your work. You can write about yourself (if you manage the business) and post a picture of yourself.
9. Specify your shop policies
Like every business, you must set certain principles for your shop. Your customers could have queries that you must anticipate and have answers to. Thus, setting policies is important.
These could include your payment options, the order processing time, returns, and the exchange system. This section is subjective and depends on you to specify all the information you want your customers to know before purchasing from your shop.
Other tips to sell on Etsy
You need to know some strategies that can boost your sales on Etsy. Do consider the following tips before you start selling on Etsy.
1. Hire a professional photographer
Get someone to capture your products in a way that convinces your customers. It could be close-up photos of the product on a white background, or someone using the product in a picture.
2. Optimize pricing
You must keep reasonable pricing to avoid the competition. Find ways to cut your costs to increase your profits.
3. Use SEO-friendly language
The perfect usage of keywords will help you attract customers through search results. It will influence your sales. Using a blog also helps you to create an emotional connection with your readers.
4. Maintain financial records
Use good accounting software to keep accurate financial records to track where your business and its expenses are going. You need a database to go back and check for exact figures whenever you need them.
5. Ensure availability of goods before listing them
You don’t want your customers to be annoyed after they find that the product they are enthusiastic about buying isn’t available at the moment. Cross-check the availability of goods if you list them in your shop.
6. Collect email addresses
Create a mailing list to remind customers you exist. I highly recommend using Email Marketing to retarget your customer with occasional emails about new launches, discounts, etc.
Also Read: 10 Ways To Generate Extra Income Online
7. Study your business data
Make use of robust software to track the sales of individual products. Focus on the production of those doing well and you may have to cut the ones that are not in demand.
Final Words
I have put my best foot forward to bring you the perfect set of tips and tricks to open your Etsy store and start selling right away. While starting your Etsy business, you need to focus on saving money that you can invest in future.
