Do you dream of setting up a business, but wonder if you can handle the complexities and risks that come with launching a startup?
There is a simple answer to your conundrum. Set up a side business with an established shopping platform instead. Get up and running quickly for minimal cost and minimal risk.
Etsy has a wealth of success stories from entrepreneurs who started their Etsy store from scratch and turned it into a flourishing small business.
And if you still need a little convincing, here are 15 compelling reasons why starting an Etsy store is a shrewd business move in 2021.
1. Low Setup Costs
Many people dream of starting a business. But one of the reasons so few follow through is down to costs.
A startup is expensive and risky, and if you don’t have outside funding, that’s your money on the line. Most of us simply can’t afford to gamble with our savings.
However, Etsy is a little different. Startup costs are minimal. You don’t need to set up a website, and you don’t need to pay for hosting or a domain. You don’t need a warehouse and can start with something as small as one stock item.
It is free to set up a business account, and you pay a tiny fee of $0.20 for listing your first product.
That means Etsy is financially accessible to any wannabee entrepreneur, whatever your starting budget.
2. A Strong Brand
It takes time to build a recognizable brand when running a business. Good branding is more than a professional logo, and to do it right takes money and creative flair.
By selling on Etsy, you can start a business that operates within a strong, well-known, and trusted brand.
That means new customers will feel confident when shopping at your Etsy store, even if you are a brand new business.
When you mention Etsy to potential buyers, there’s immediate recognition in that name. It will help you attract and keep customers as your business grows.
3. Growing Customer Base
Etsy sales grew by 14% between 2020 and 2021. The continued growth of Etsy shows no signs of slowing, and that is good news for Etsy stores. Set up shop today, and expect to reach even more customers a year from now.
That’s a compelling reason to join Etsy. No startup is guaranteed consistent growth in their business. Still, the odds will be more in your favor if you hop on board a company already demonstrating growth.
4. Low Tech Dashboard
If you want to launch an online business, setting up a website will probably be high on your to-do list.
But if you don’t have a background in technology, that task can seem daunting. You’ll need to know how to choose a domain, set up your hosting, and decide on a website platform.
In contrast, Etsy offers a simple dashboard where you add the name and description of your shop, product, and any relevant images. It’s as simple as it gets, and the ideal choice if you want to avoid complex technical tasks.
5. Etsy Offers Paid Ads
Many people wrongly think that Etsy is only profitable for a small handful of businesses. Businesses with hundreds of sales and 5-star reviews always appear at the top of the search results.
Naturally, it takes time to reach that level.
However, there is an alternative way to get sales when starting your Etsy business. Etsy offers the opportunity to use paid ads to promote your product, and that will push it to the top of a search page.
It’s perfect if you want an easy way to reach your customers without hiring an expensive ad agency.
6. You Can Sell Printables
Print-on-demand is one of the easiest businesses to set up online.
All you need to do is create a design or slogan on a graphics program like Canva. Then, upload it to a print-on-demand website, and when a customer places an order, the print company will deal with the rest of the fulfillment.
What you might not know is that you can sell printables on Etsy. It’s a hugely popular area on the site already, with thousands of entrepreneurs selling things like mugs, face masks, and t-shirts.
7. It’s Perfect for Crafty Entrepreneurs
Are you the sort of person who takes pride in hanging beautiful handmade crafts around your house each Christmas? Chances are, those same crafts can make you money on Etsy.
For those who love doing anything creative, you can combine a hobby with a job by making money, making what you already love.
All you need to do is take some good photos of your design, upload them to your new Etsy store, and wait for the wider world to fall in love with your creations.
8. Use It for a Side Income
The economy doesn’t look in great shape. Food, energy, fuel: everything seems to be heading upwards. You might find you are getting squeezed each month to stretch that household income for the full 30 days.
Instead of cutting back on spending, why not look to earn a little extra on the side each month? And running a part-time Etsy store that you can manage in your spare time is the perfect option.
Some Etsy owners love doing their crafts in the evening in front of the TV. And the extra money coming in each month will help you create a little financial cushion for you and your family.
9. Access to Etsy Experts
Since Etsy is such a big platform, there is plenty of expertise on hand if you need help launching your Etsy store.
You can hire a freelancer to help with all sorts of things on Etsy, such as product photography, social media marketing, or SEO.
Etsy is a business you can launch even when you lack business knowledge. There are plenty of specialists out there for you to outsource your most burdensome tasks.
10. You Can Add Your Unique Branding
Other platforms like eBay and Amazon allow you to create a brand, but these brands take second place to the platform’s core look and feel.
Etsy is a little different. A shop’s landing page can feel rather distinctive, and as a business owner, that allows you to create a unique brand.
Your Etsy store’s appearance is hugely valuable. Should you want to expand in the future with a dedicated shop website (outside of Etsy), you will already have a recognizable look.
11. International and Domestic Customers
Etsy is a truly international business. Etsy sellers currently span over 230 countries worldwide.
As a business owner, you have a unique opportunity to set up in a marketplace that already has a sophisticated global platform. It allows you to sell in multiple currencies and ship domestically, overseas, or both.
If you have a product that will be popular beyond borders, Etsy is your ready-made international customer base.
12. Great Reputation
Etsy has a fantastic reputation. When someone buys a unique product from Etsy, they’ll happily tell you about their purchase and how much they love it.
That reputation will help cement your business when it’s up and running. If you have happy, satisfied customers, they’ll be eager to tell their friends about your business and how they discovered you on Etsy.
13. It’s Safe and Secure
Secure payment and data protection are paramount to customers nowadays.
Customers are mindful about how their information is stored and shared on the internet, and are increasingly dependent on businesses they know, like, and trust.
The benefit of selling on Etsy is that you won’t have to store any of that secure information, as the platform will take care of it for you.
That means that by providing you abide by all of Etsy’s terms for sellers, you’ll be giving your customers a safe, secure purchasing experience.
14. Payment Is Quick
When you make your first sale on Etsy, your excitement will turn to a question: when will I be paid?
On Etsy, you can select to be paid weekly for sales made on the platform. That can help you maintain a good cash flow for your business and give you the funds you need for advertising or new product supplies.
Etsy provides all the calculations on transaction fees, so you’ll know what money will arrive in your bank account. You can click here for more guidance on how to integrate Etsy with your accounting software.
15. You’re Part of a Community
Etsy is more than a business. With thousands of sellers worldwide passionate about their craft and their brand, you’ll become part of a wider business community.
That community takes many forms. You can join Etsy’s main community area, where you can talk to other sellers in a forum and get answers to your burning questions.
Or you can join one of the other many Etsy communities on the internet, such as Etsy Facebook groups.
Starting an Etsy Store in 2021
Your challenge awaits. Are you ready to follow in the footsteps of other successful entrepreneurs by starting an Etsy store? It could be the smartest move you make this year.
While setting up your store might be simple, you’ll still need to learn how to market your Etsy business. Before you leave, check out our marketing section for our latest advice on businesses management and more.