Author:  Maria Alfano

One of the biggest worries you will have as you get closer to retirement is whether you will have enough money to survive month to month.    Running your own Esty shop may be just what you need to keep busy and make a little extra money on the side.

The beauty of Etsy is there is no age limit or special skill required.  You can be 18 or 88 and you can run your own business online for very little money.

Over the years Esty has garnered a reputation as the place to shop for unique hand-made items.  Prices are reasonable for shoppers and the experience is very pleasant.  You will be hard-pressed to find too many dissatisfied customers who shop on Etsy.

Why is this important?  When planning to open your own Esty shop you want to know that the reputation of this company will meet your own high standards.  And, there are plenty of satisfied customers who are not afraid to spend their money to buy amazing, quality, and unique items from a small business owner like yourself.

You Too Can Run an Etsy Shop For Little Money

Think of Etsy as the “little engine that could.”  They grew from nothing to go on to compete in the big leagues with other online giants like Amazon and Walmart.  But, they carved their own niche by offering only items that are made by the shop owner or that are considered vintage items.

Benefits of an Etsy Shop

Let’s face it…as you get older and think about how much money you need to retire, opening a costly business is the last thing on your mind.  When comparing the costs of selling your products on Amazon or Walmart, running your business on Etsy is just a fraction of the cost.

• Free – registering to sell on Etsy is absolutely free and there is no monthly membership fee.
• Twenty cents – the cost of listing a product for sale on Etsy.
• Small transaction fee – for any product sold, Etsy takes a minimal 5% transaction fee or commission for hosting you on their site.  If you sell an item for $20, the fee to Etsy is $1.
• No upfront costs – selling fees are deducted from your sales so you are never out of pocket.
• Built-in customers – you don’t need to search for customers to come to the website.  Etsy has thousands and thousands of loyal customers.
• Unique products – what you sell is your own creation so no one else can sell the exact same thing as you.
• Simple to use – setting up your shop is quite simple with easy-to-follow instructions written in plain English – to techie gibberish.

How to Set Up an Etsy Shop

With just a few simple steps you can be up and running in no time at all.  You don’t need to be a professional nor do you need fancy equipment.  All you need is a computer and a digital camera.  A couple of free tools that will come in handy are Canva.com and Adobe Reader.

1 – Create your Etsy account.  From the Etsy.com website simply scroll to the bottom of the page and click on Sell on Etsy.

2 – Shop Preferences – once inside the seller portal, you will fill out the questionnaire to help set up your shop preferences.

 

3 – Give your shop a cool name that reflects the vibe of your content and grabs customers’ attention.

4  – Add inventory to your store by following the steps in the guided process.

5 – Set up your payment process.  Where do you want your sales to be deposited?

6 – Set your prices and billing information.

 

Best Selling Products

The top-selling products on Etsy have been in the following categories:

• Home goods
• Wedding accessories
• Crafts
• Paper products
• Digital downloadable products

How Much Money Can I Make Selling on Etsy

In 2018 alone, close to $2 billion (yes, that is a billion with a B) exchanged hands between customers and Etsy shop owners.  There is plenty of money to be made on Etsy as long as you have products to sell.

With over 2 million shop owners, this breaks down to approximately an extra $1,000 per year in your pocket – not to mention the write-offs that come with being a business owner.

Sharpen your knitting needles, hone in on your crafty alter-ego, or get creative with digital prints.  There are so many options for products to sell that you can get started with little to no money.  This business can generate the extra cash you need without upfront fees.

In Summary

Setting up your Etsy shop is really quite easy.  It requires a little time and some really cool made-by-you products.  Whether the products are physical or digital works of art, there is plenty of money to be made on Etsy.  Money that will help fill the gap between the time you run out of monthly retirement funds and the end of the month.

We would love to hear from you.  Do you have an Etsy shop?  Was it easy for you to get set up and make your first sale?

Other Posts You Might Enjoy:

• 9 Unique Business Ideas With Little Startup Cost for 50+ You Need to Know
• Entrepreneurship Later In Life – Powerful Success Tips You Need To Start A Business Over Age 40 Into Midlife & Beyond

 

images courtesy of Canva.com