In this day and age, almost every aspect of life can be done online, even starting a business. For creative individuals with an entrepreneurial flare, Etsy might just be for you. This retail website lets its sellers focus on production, branding, and promotion while it handles orders, notifications, and payments. The benefits of Etsy sound great, right? If you find yourself wondering how to set up your own Etsy shop, then here are some tips for you:
1. Come Prepared
Before jumping in, keep in mind that you're starting a business. And good business is backed by well-researched insights that will help you through your journey. So do your research. Ask around, browse through the web, and even take a tour of Etsy. Here are a few valuable information you need to know:
- Demand for your product
- Number of competitors
- Price range of similar products
- What sells and why
- What doesn't sell and why
Gathering such information will determine whether or not you should proceed with your idea. If you do proceed, then these data are the foundation of your business strategy.
2. Build your Brand
Deciding on a product is one thing. Branding it is another. In a crowded platform such as Etsy, standing out is a definite feat. Start with a name. Think about it carefully but don't overthink. Your shop name should match what you're offering. Keep it short, catchy and easy to remember. The same goes with your creatives - logo, template, color palette. Everything should come together to add value and personality to your product. Whichever artistic route you choose, the important thing is that your customers' perception of your business is aligned with yours.
3. Work on your Inventory
Don't flood your shop with so much products as it tends to overwhelm potential customers. Instead, opt for a few complementary products or a specific set that emphasizes your skills. It's best to be known for something so you can become top of mind choice for customers. At the same time, it assures them of the quality and consistency of your products. Make sure you have enough to sell. Keep track of your sales to be able to plan your future stock accordingly. You can always opt to drop ship if you don't have the storage space or if you don't want to be overly concerned with inventory management.
4. Decide on Price
Properly pricing your products can mean the difference between profit and loss. Use data gathered from your research to strategize. Your costs and competitors' price comparison are key elements to the equation. Make sure your prices are not too low that you can barely make a profit, but also not too high so that you can stay competitive.
5. Take Photos
Customers will rely on what they see. If you're not confident with your photography skills, there are many free online tutorials about photographing items for online selling. Use quality camera with ample lighting to take pictures of your products. Show different angles and features to give the customers a complete and clear image of the item. Help them imagine your product with ease. Don't leave them guessing and making assumptions only to be disappointed once they receive the package. Remember, part of building your brand, is building trust. Learn more about photography here.
6. Setup your Etsy Shop
Go to Etsy.com and register. The process is fairly straightforward. Etsy will guide you through the process. They also have articles for everything you need to know about the platform and all the questions you might have from creating a seller account to choosing payment processors.
7. Don't Forget About Shipping
Landing your first sale won't matter if the customer doesn't receive it. Buy supplies and look for trustworthy partners. Determine shipping costs and price accordingly. Package your products securely. Include thank you cards, brochures, and other marketing materials that may further build your relationship with your customer.
Let Lumaprints help you achieve your business goals. Have your photos and artworks printed on a variety of medium - canvas, framed canvas, metal, and fine art paper – and be delivered to your customers with our drop shipping service.
Congratulations, you're done! Well, with this step anyway. There's a lot to do ahead. Start now and go sell.