You have probably heard of Etsy, the e-commerce marketplace that allows people to sell all different kinds of handmade goods. It is the go-to website for many jewelry makers who wish to sell artisan jewelry. If you have ever wondered whether you should take your passion for jewelry making and profit from it, chances are good that you have considered Etsy, but is this online marketplace right for you? In order to find out, you might have to ask yourself some tough questions.
What Does Jewelry Making Mean to You?
The idea of quitting your day job and selling your jewelry full time is no doubt appealing to many. However, selling your handmade jewelry for a living isn’t for everyone. It’s great to have a passion for jewelry making, but are you wanting to sell online because you want to make money, or because you want others to appreciate your craft? This can make a huge difference in your success on Etsy. While it’s important to have the business side of things down, you will be more likely to succeed if you remember why you started in the first place. Your love of jewelry and desire to share this love is what should drive you, rather than money.
Is Your Stuff Good Enough?
A particularly tough question for anyone who is considering selling their jewelry is whether or not their stuff is good enough to compete with others. It’s hard to be objective when it comes to your own work, but it is important that you try to step back and really ask yourself if your jewelry can sell. Jewelry that is unique or able to be personalized will have a much better chance of selling on Etsy. In addition, jewelry that is made from high quality beads will be more appealing than low quality beads.
Are You Prepared for a Learning Period?
Etsy has been praised by many online sellers for being a relatively simple marketplace platform. That being said, you will still need to be okay with the amount of time it might take you to figure out how to sell on Etsy. It isn’t as simple as putting up a listing and waiting for a sale. You can make a few sales that way, but what will ultimately make your business a success is understanding the dos and don’ts of Etsy.
How Much Time Am I Willing to Invest?
You will have to invest quite a bit of time into starting up your business on Etsy. Especially in the beginning, some sellers find it difficult to make time for their passion while also putting in the effort to learn the ins and outs of Etsy and how to successfully market their products. Etsy has a lot of useful tips to help sellers get started, but many people become frustrated with the amount of networking and marketing they have to commit to. You would be hard pressed to find a successful Etsy account without some form of active social media. Are you prepared to invest your time into promoting your business?
How Much Money Am I Willing to Invest?
In addition to time, Etsy has some payment requirements that, depending on what you’re selling, could hurt you. Etsy is great in that it doesn’t have any monthly fees, but it does require a 20 cent listing fee and a 3.5% transaction fee. If you are selling products that are incredibly cheap, you will probably find that it isn’t worth the hassle. As long as you are selling jewelry that is high quality, this shouldn’t be a problem.
Can I Afford to Shift My Focus to Selling on Etsy?
If you don’t have a job and don’t need the income, then selling on Etsy isn’t a gamble. On the other hand, if you already work a 9 to 5 job and rely on it for your income, committing your time to Etsy can be difficult. This is where many people make the mistake of quitting their day jobs in the hopes that their Etsy account gains traction. The sad truth is that there are many sellers on Etsy that don’t even make minimum wage. When you are just starting out, it’s recommended that you continue working full time and dedicating whatever time you have left to your store. As it grows larger, you can try to gradually cut your hours at work as your business grows more successful.
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