Starting an Etsy Business For Dummies

Kate Shoup, Kate Gatski

• Publisher: For Dummies
• Year: 2017
• ISBN:
  9781119379010
• Edition: 3
• Topic: Business
• Subtopic: E-Commerce
• Index: Business

Turn your hobby into revenue with an expertly-run Etsy shop

Starting an Etsy Business For Dummies is the all-in-one resource for building your own successful business. Arts and crafts are currently a $32 billion market in the U.S., and Etsy is the number-one way to grab a piece of it for yourself. Sales through the site are rising, fueled by Pinterest, Instagram, and other social media—so there's never been a better time to jump into the fray. This book shows you everything you need to know to get set up, get things running, and build your business as you see fit. From photography and sales writing, through SEO, homepage navigation, and more, you'll find it all here.

This new third edition has been updated to cover Etsy's newest seller tools, including Pattern, Etsy Manufacturing, Etsy Shop Updates, and the Dashboard, with expert guidance on QuickBooks Self-Employed to help you keep your business's finances under control. With helpful information, tips, tools, and tricks, this book is your ultimate guide to building your own Etsy shop.

• Showcase your products to their best advantage with great photographs and compelling listings
• Learn the technical side of setting up shop and processing orders
• Manage your storefront efficiently using the latest Etsy tools and features

• Increase sales by connecting with other vendors and promoting on Pinterest

Are you an artist, crafter, artisan, or craftsman? Etsy can be another great revenue stream. Are you just curious about whether your projects would sell? Wade in gradually to test the waters. Etsy is home to businesses of many sizes and types, and Starting an Etsy Business For Dummies shows you how to stake your claim.

Part 1

Getting Started with Etsy

IN THIS PART …

Find out what Etsy is all about.

Sign up for an Etsy account.

Explore the Etsy home page.

Discover tools to help you keep track of your Etsy account and shop.

Check out what Etsy has for sale.

Get the 411 on staying safe on Etsy.

Chapter 1

Handmade for Each Other: Falling in Love with Etsy

IN THIS CHAPTER

Understanding Etsy’s purpose and how Etsy makes money

Signing up for (and making your way around) Etsy

Setting up your Etsy shop

Understanding the selling process on Etsy

Running your Etsy business with ease

Exploring the Etsy community

Most people think of Etsy as a website where artists and craftspeople can sell their wares online. But really, it’s so much more. Indeed, Etsy describes itself as an economy — one where artists and designers “can find meaningful work selling their goods in both global and local markets” and “where thoughtful consumers can discover those goods and build relationships with the people who make and sell them.” In short, Etsy enables creative types to channel their passion into their life’s work!

This chapter offers you a bird’s-eye view of Etsy — its purpose and business model, how to sign up for and navigate it, and all sorts of good stuff about opening and running your own shop.

Creative Crusade: Understanding Etsy’s Purpose and Business Model

Many people think of Etsy as a sort of eBay for arts and crafts. And you can see why: People use both Etsy and eBay to buy stuff from other individuals. Also, both sites charge listing fees and make a small commission on every sale. Plus, members use feedback to rate their transactions.

But the sites have big differences, too:

• Although Etsy is growing — as of this writing, the site boasts 1.7 million active sellers and 27.1 million active buyers, and in 2015 it facilitated more than $2.39 billion in transactions — it’s still the proverbial mouse to eBay’s proverbial elephant.
• Etsy, which launched in 2005, doesn’t use an auction format.
• Whereas (almost) anything goes on eBay, Etsy was created specifically to enable artists and craftspeople to sell their handmade wares online. (Over time, the site has evolved to cater to so-called creative entrepreneurs; find out more about what you can and can’t sell on Etsy in Chapter 7.) Etsy itself puts it this way:
  • Our mission is to reimagine commerce in ways that build a more fulfilling and lasting world. We are building a human, authentic and community-centric global and local marketplace. We are committed to using the power of business to create a better world through our platform, our members, our employees and the communities we serve. As we grow, commitment to our mission remains at the core of our identity. It is woven into the decisions we make for the long-term health of our ecosystem, from the sourcing of our office supplies to our employee benefits to the items sold in our marketplace.

So how does Etsy’s business model work? Etsy stays afloat by charging sellers a fee for each item listed on the site. At this time, the listing fee is 20¢ per item. Etsy also collects a commission from the seller for each item sold — currently 3.5 percent of the total price of the item, not counting shipping. In addition, Etsy collects fees (3 percent of the total price of the item plus an additional 20¢) from shopkeepers in the United States who use its handy-dandy Etsy Payments feature, which enables buyers to pay using a credit card or Etsy gift card. These fees, which you can pay using a credit card that you put on file with Etsy or using your PayPal account, are due monthly.

MONIKER MYSTERY TOUR: PROBING THE SECRET BEHIND ETSY’S NAME

The origins of Etsy’s name are as murky as a drifter’s past, but theories abound. Some say that the name Etsy is a play on the Latin phrase et si, meaning “and if.” Others suggest that the name comes from the Greek etsi, meaning “so,” “thus,” or “in this way.” Still others posit that Etsy derives from the Unix directory /etc, pronounced “et-C,” or that it’s meant to call to mind the word itsy, as in “itsy-bitsy,” or “cute,” which, of course, many items on Etsy are.

Any attempts for clarification by Etsy are met with playful — but misleading — answers by Etsy’s staff, ranging from “Etsy is an acronym for Expanded Truncated Structural Y” to “It means ‘horny person’ in Japanese.’” And although Etsy founder Rob Kalin once insinuated that the answer to this riddle could be found in Fellini’s film 8½, no one has yet managed to solve it.

World Up: Introducing the World of Etsy

Just what can you do on Etsy? And how do you use it? This section scratches the surface. (You find the nitty-gritty, step-by-step info about these topics in later chapters.)

Registering with Etsy

You don’t need to register with Etsy to scope out what goodies are for sale. But if you’re in the market to buy any of said goodies — or to communicate with other Etsy members or participate in the site’s community features — you need to create an account with the site. Fortunately, creating an account is simple and free. All you need to do is enter your name and email address and choose a username and password. ...