So, in the pursuit of the passive income I have been recommended to try out Etsy. I was one of the many who assumed it was still an arts and craft – handmade only website. Well, it still is that, but now offers instantly downloadable material. Posters, images, designs, music and all other kinds of things are available.
Why did I like the idea of Etsy over some of the other websites? Even though they charge 20 cents US for a listing that lasts a few months, their commission on sales is pretty low. So you can potentially earn a LOT more from sales than through other passive income streams like zazzle and cafepress for example.
So, using a 40 free listings signup link, much like my one here, I started putting some ideas together and filling out the details of my shop. As a designer I have more than a few designs I have done for myself that suit a printable poster format, and a few of the designs on other websites can be brought across to see how they are received in a new market.
Is it worth it?
I think the potential is there and the customers are looking for something different to begin with, so branching out in this way can certainly diversify your income streams a little. You can’t expect one website to be your only income stream, because if they close down, you are going to have to start from scratch rather than just shift focus to one of your other ones.
I am only in the early stages of populating the shop, and the plan is to have some unique designs that reflect the audience of Etsy that don’t appear in other places. The challenge is to find the right style and message that resonates with the audience. I recently put up my third listing, and found within an hour I already had half the views the first one had. So it looks like a bit more trial and error will get me the best products to run on Etsy. I am also considering the idea of limited editions, having them only available for a set period of time and letting their listing expire, never to be renewed. That way I could have one seasonal limited edition item each season, meaning there would only ever be one limited edition item to create each season.
Best part is, the ease of sharing shop updates tagged with your listed items makes it simple to promote your items to your Facebook and Twitter followers.
Check out my store here, and if you are interested you can sign up as a seller through this link and get 40 free listings. Best part is, once you open an Etsy store yourself, you can share your own link and any new sellers who open a store from your link get 40 free listings as well as you!
Let me know if you have an Etsy store, or if there are designs you would like to see there! Or even if there are other alternatives to Etsy, or ways you promote your own store. 🙂