Even in today’s modern age, people still seek out vintage and handmade goods. Often, they do so through online platforms like Etsy, Zazzle or CafePress. These platforms are dedicated to artsy goods.
An Etsy entrepreneur business sells vintage or handmade goods on Etsy or these other platforms. By selling through an established platform, businesses are often able to reach more customers than they could through their own website or storefront.
Start an etsy entrepreneur business by following these 10 steps:
Plan your Etsy Entrepreneur Business
Form your Etsy Entrepreneur Business into a Legal Entity
Register your Etsy Entrepreneur Business for Taxes
Open a Business Bank Account & Credit Card
Set up Accounting for your Etsy Entrepreneur Business
Get the Necessary Permits & Licenses for your Etsy Entrepreneur Business
Get Etsy Entrepreneur Business Insurance
Define your Etsy Entrepreneur Business Brand
Create your Etsy Entrepreneur Business Website
Set up your Business Phone System
There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your etsy entrepreneur business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
STEP 1: Plan your business
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
What are the startup and ongoing costs?
Who is your target market?
How much can you charge customers?
What will you name your business?
Luckily we have done a lot of this research for you.
What are the costs involved in opening an etsy entrepreneur business?
The startup costs for an Etsy entrepreneur business are low. The main expense is the cost of materials for making good (if selling handmade items) or the cost of buying goods to sell (if selling vintage items). The other startup expense is Etsy’s listing fee, which is $0.20 per listing.
Many business owners keep only a small amount of inventory on hand. They make or buy more inventory as their current stock sells. This lets them keep their inventory in a small space, usually somewhere in their home so they don’t have to lease space.
What are the ongoing expenses for an etsy entrepreneur business?
The ongoing expenses for an Etsy entrepreneur business are also low. They include:
material or inventory costs
a $0.20 listing fee for each new item listed
a 3.5 percent transaction fee for each transaction
a 3 percent + $0.25 payment processing fee for each transaction
shipping fees for each order
Who is the target market?
An Etsy entrepreneur business’ ideal customer is someone who likes handmade or vintage items, and has some discretionary income. Such a person may be interested in the wares an Etsy entrepreneur business sells, and they have money to spend on goods.
How does an etsy entrepreneur business make money?
An Etsy entrepreneur business makes money by selling handmade or vintage goods. Most businesses sell only to customers, but Etsy has a platform for launching into wholesale.