Welcome to my first ever Etsy store income report! As I mentioned in my income reports from last month, I have three forms of passive income that I want to focus on – Amazon KDP, Amazon Merch on Demand and my Etsy store.
What Is My Etsy Store?
Etsy is a platform where pretty much anyone can create an online store to sell handmade items – both physical and digital items. I sell digital items on my Etsy store. I’m not going to name my store as I’m worried about copy cats but I create business forms for a particular niche and sell the digital files as Canva templates. As an example, if someone owns a nail salon and they need a disclaimer form for their customers to sign, then they can buy that form from my shop. Etsy will email them a file with link to the form I made in Canva. They can customize the form for their particular business – add their logo, name, change the colors, add text, etc – and then download it and print it. Once I create the item and list it in my Etsy shop, things are passive on my end. Once in a while, I’ll get a message from a customer who has trouble opening the form but it takes just a few minutes to help them.
Overall Goal with Etsy
My first big goal is to list 100 items in my shop but my overall goal is to make $1500-$3000 a month with Etsy. I think it’s very doable, especially if I can come up with some business bundles and related eBooks to sell in my shop. There is one competitor in my niche making at least $100 a day just selling business form bundles. I think I can do better.
May 2024 Income Report
In May, I made $61.78 from 9 orders. I had 308 visits which gives me a conversion rate of 2.9% (not sure if this is good or bad).
I do not spend money on advertising, however, Etsy does their own advertising and they take out listing fees. The listing fees were $12.78 and their marketing fee was $2.61.
Total Etsy Income for May 2024: $46.39
Previous Month’s Earnings
April 2024: $36.36
March 2024: $48.61
February 2024: $58.54
What Did I Do In May?
Not much. I got a few customers who had trouble with the forms they purchased but it was resolved quickly. It turns out Canva deleted the template link so I had to create a new one and email the new link to the customer. I had another customer who requested that I make a business card to match the advertising flyers that I sell. I made it for them and gave it to them for free. I’m planning on listing the business card template in my store.
Goals for June 2024
- Create 30 new items
- Create display images for 50 items
- Create display videos for 50 items
I have a list of over 150 items I want to create and list in my store. The hardest part isn’t making the items, it’s making the display images, videos, files, user guides, descriptions, etc that I need to list the item on Etsy. I have about 30 items that I made a few months ago but I haven’t had time to get them listed. It makes me cringe thinking about the profit I’m losing by not having those items listed for sale. My overall goal is to get 100 items listed in my shop before Q4 but I need to break that down into manageable steps. Right now, I’m just going to focus on getting display images and videos made for 50 items while also continuing to make new items. Next month, I’ll come up with the user guides, template files and product descriptions for those 50 items and then I should be ready to list the items in August. Then I can focus on 50 more items and get those listed by October, just in time for Q4. It’s an ambitious plan but I think I can get it done if I stay focused.
