Are you eager to start selling your unique crafts on Etsy? Do you want to know how much you could potentially earn by trading on the platform? You have come to the right place. You’ll find plenty of useful details about several sellers who’ve shared their stories online.
Besides a closer look at the sellers, you’ll also find approximate figures you can expect and calculate how much competitors are making.
Buckle up, let’s start with some rough figures.
How Much Can You Make on Etsy?
Running any kind of online store can bring high revenue, and Etsy is no different. While you can see various success stories online, finding some rough figures is a bit more challenging. However, the internet is a magical place, and if you look close enough, you can discover anything.
One of the places where you can find numerous success stories that also mention annual earnings is Reddit. One of the recent threads features a lot of people who’ve shared their Etsy successes.
It is a great way to see how much potential Etsy has. If you look at the thread closely, you’ll find those who started slowly with under $10,000 in their first year but managed to grow to over $20,000. Others have managed to earn well over $200,000 annually.
While some of the fantastic stories are very inspiring, you’ll find that all of these people took several years to grow their online stores. Therefore, don’t expect to start tomorrow and reach these numbers immediately. It’s a journey that takes time.
If you have a product that’s ready to sell, you can use the Alura Etsy fee calculator to figure out your potential Etsy profits. That’ll give you a clear picture of what your Etsy income might be over time.
Now, let’s explore a couple of exciting stories of successful Etsy sellers who’ve decided to share them publicly.
Jami King - Handmade Journey
In a blog post on her site, Jami King shares her experience with Etsy. In her first year, she was able to earn over $53,000 in sales. That’s quite a high revenue for her first year. What makes this story particularly interesting is her profit margin of around 70%.
She also shares what the key steps she focused on in her journey are. According to her experience, any seller should start by optimizing SEO. You want your items to appear in buyer’s Etsy searches.
Furthermore, she listened to her buyers. She advises not only to focus on things you’ve planned to sell but also to adapt to the market’s needs. If some items sell more than others, you should focus on listing those that are similar.
Her story is a big inspiration, and it’s proof that you might be able to grow your store in a year.
Jenni Waldrop - FuzzyandBirch
Jenni also used her blog to share her success story. Despite being private about her income, she decided to share how she managed to earn $4,000 in a single month. Like Jami King, her journey was not that simple, and she used some methods of her own to grow.
She begins her journey by showing her first month on Etsy. It finished with a loss of $37. She then quickly goes to September, precisely eighteen months later, and her profits are $4,000 before tax.
The main takeaway from her journey is that patience is vital. However, it is also essential to explore and discover different advertising methods.
For example, growing her Pinterest page and being a guest on Podcasts has brought her a lot of success on Etsy. She has also leveraged her blog’s success, which has resulted in further growth in her sales numbers.
Shay has shared her Etsy experiences in a YouTube video after running an Etsy store for a year. She starts by sharing that her first-year revenue was almost $30,000. However, there are plenty of costs that she had faced.
For example, the cost of her making the products for the Etsy shop was around $6,000. After that, she shared that her Etsy fees were about $6,500. Finally, she also mentioned that she had saved approximately 35% for her Federal and State taxes.
After taking care of all expenses, fees, and taxes, her profits were around $12,000. For the first year, that was a fantastic profit. Keep in mind that running the store is her side hustle. It only takes around 10 hours of her week.
How to Calculate How Much a Store is Earning
If you already have a product in mind, you can always check out your competitors and see how they are doing. Luckily, there are now tools that will make it easier to calculate how much an Etsy store is earning.
All you have to do is get the Alura extension to measure how well a shop performs. You can tell the number of sales per listing, as well as overall revenue. If you apply the industry-standard 30% profit margin, you can easily deduce a store’s profits.
That way, you can quickly see how your competition is doing. What’s more important, you can use the data to start or grow your Etsy store.