Etsy is a hugely popular platform for independent sellers. The market place which launched in 2005 allows creative people to share their handmade items. Sellers can share their hobby, using their crafting skills to sell their creations and pursuing their dreams of becoming a business owner. So could you also share this dream?
In the UK there are over 5 million microbusinesses; these are businesses with less than 9 employees, including just one person in the business. It adds a huge amount to the economy and a great way to become self-employed or make some extra money on top of your current job.
Recent research from Seareach found that in the US, 97% of Etsy sellers run their own business from home, and for 32% of these people, it is their sole occupation. Additionally 58% of people choose to buy from Etsy because they want something unique or personalised, something you just wouldn’t get from big brands and high street shops.
So is it possible to work full time and still successfully run an Etsy store? Many Etsy sellers in the US manage to juggle both: 53% work independently (on their own) and 32% have traditional fulltime jobs. If you’re selling handmade on Etsy then you are part of something important; not only are you doing something which you enjoy and making money from it, you’re giving consumers the opportunity to buy something that isn’t mass produced.
So will my side hustle be a business or just a money making hobby? If you’re making a profit then it certainly will be a business (the tax man will also think this so make sure you pay your tax!). In fact 72% of US sellers on Etsy consider their shop to be a business. A lot of people like to buy direct, no middle man, they know where they are buying from and where their money is going. People like to support independent sellers over corporations.
Fun fact: Women also make up the largest percentage of sellers on Etsy – 87%
If you’re just starting out, Etsy is a great platform to get a foothold in the marketplace. You don’t have to spend time and money building your own website. Instead you launch on a website which already has millions of global users, offering you so much more visibility. As people’s shopping habits change, we see more and more people looking to leave behind big corporations and soulless brands, instead people want to support independent sellers. So if you have something to sell, then Etsy is the place for you.