|Back to Back Issues Page|
How to Become a Millionaire In Your Spare Time Newsletter - Perfect Make Money From Home Business
February 05, 2019
Welcome to the How to Become a Millionaire in Your Spare Time monthly newsletter!
Every month I highlight a side gig or an online home business that you can start with little or no money.
And this month I want to tell you about starting your own Etsy store online with MILLIONS of ready made customers!
Are You Ready To Start Your Own Etsy Store Online?If you have a crafty side...
or if you've ever made your own jewelry...
or wanted to make money online making and/or selling handcrafted products...
Then Etsy is THE perfect online marketplace to start selling to 54 million eager buyers!
Since its launch in 2005, Etsy has become the marketplace for makers and creators of unique crafts and gifts.
Over 1.98 million sellers service the 36 million shoppers, with beautifully handcrafted goods from all over the world.
And it shows no signs of stopping.
Etsy grew its gross merchandise sales from $2.84 billion to $3.25 billion in 2017. That's a "B" for billions in sales!!
Etsy is clearly on the rise, seemingly shrugging off competition from Amazon handmade.
Here Are the 7 Most Popular Categories on Etsy
1)Home and LivingSome sellers on Etsy.com focus on things for your home. From handcrafted pots for plants to home decor of all kinds, many sellers have success in this category. If you have a knack for selling home decorative items or interior design products, this may be a great category for you to explore.
And it doesn't have to be "hand made" but uniquely one-of-a-kind.
Jewelry is one of the hottest-selling categories on Etsy. People all over the world sell various jewelry items in this category, and many of the pieces are handmade.
With over 170 sales per day, and 381,000 sales since 2012, Etsy shop Layered and Long is one of the best there is.
Shop owner Chrissy Lavdovsky has driven the success of her business by selling handmade golden necklaces, rings, and bracelets to eager Etsy buyers.
3) ClothingHandmade clothing items are also a favorite selling category so if you have a knack for sewing or embroidery, Etsy may be a good platform for you.
One of the key selling points with clothing items is customization.
Most of the clothing items feature personalized names or accents that allow you to customize the clothing for specific customers.
Many of the T-shirts sold in this category are vanity statements or declarations about popular trending topics or funny sayings.
Some sellers purchase white T-shirts, then decorate them in ways that people like to sell on Etsy.
This category also features many accessories such as belts, bags, and other items, as well.
4) Toys and GamesThe Toys and Games category features a variety of handcrafted toys and games for all ages. From baby items to electronics games, you can sell many different items in this category as long as it qualifies as a game or toy.
5) Craft Supplies and ToolsInstead of selling completed items, some people focus on selling craft supplies and tools to enable others to create things for Etsy.
This is a lucrative category if you have a supplier that can keep you furnished with many supplies. From candle-making supplies to doll-making and many other hobbies, you can be the go-to person that people turn to in order to find supplies to create their craft items.
6) Kids and Baby86% of Etsy buyers are women so it makes sense to create products that appeal to women.
This category is popular because it offers a wide variety of products that are handmade or created for children and infants. These items make great gifts, and many mothers of infants or others come to Etsy to look for these types of products.
7) VintageThe Vintage category is dedicated to featuring all sorts of older or antique items.
If you're not the most crafty, then you can go flea market shopping or garage sale shopping for vintage items.
Or maybe you have older items that you have restored or antique dishes, for example, you can sell them on Etsy in the Vintage category.
Another hot item is vintage cook books - especially if they are signed!Now that you have the 7 most popular categories on Etsy, you may be interested in knowing what the most recent 10 best selling items were.
Below is a list of the latest Etsy best sellers.
Top 10 Best Sellers on Etsy
1) StickersBelieve it or not, kids stickers SELL!! Probably not what you'd expect, but Etsy is completely sticker-crazy.
The only requirement is that they have to have been made by the seller in some way such as applying the design or creating the product in some way.
Stickers sell well because teachers, parents, and non-profit organizations often look for handcrafted stickers to buy in bulk that can serve as rewards and incentives for kids.
2) Hand-made Kid’s clothingIf you have a good sense of style and can knit, you’re in luck!
The second best thing to sell on Etsy is hand-made kids clothing. The Velvet Acorn for example sells a massive 214 articles of kid’s clothing per day, reaching 341,000 sold items since 2010.
3) Women's JewelryWomen LOVE jewelry! So it makes sense that jewelry would be a top seller.
Some of the best selling jewelry are personalized with monograms or initials, or have a theme. For example, best sister, mothers, or matching best friend bracelets or necklaces.
4) Party DecorationsPersonalized party decorations are one of the best sellers on Etsy.
In particular, wedding decorations!
As a result, Etsy stores selling customized gifts, favors, water bottle wrappers, favor tags and cupcake toppers are making a fortune.
Probably the best store to look at in this niche, is ModParty. Active on Etsy since 2013, this California-based small business sells around 172 party decorations per day and over 357,000 sold items since 2013.
5)Homemade or Specialized CandiesHomemade Sweet, a jelly bean, and specialized candy store offers sweet treats that you cannot find in a regular candy store.
They are wrapped in unique wrapping to give them a distinctive flair.
Recently, a company sold over 220,000 such sweet treats to customers on Etsy alone.
Now, that’s sweet!
6) Vinyl & heat transfer suppliesReading through this list, you might feel a little dejected. If (like me) you can’t knit, draw or make jewelry, can you still sell on Etsy – and what sells best on Etsy for you?
The short answer is: yes, you can still make a killing on Etsy by selling supplies. Forget about B2C and use your Etsy store to sell to small businesses.
One great example of this is Open Source Store, which has had great success selling Vinyl & heat transfer supplies.
These are bought by countless Etsy sellers intent on creating their own T-shirt designs, which are then likely sold on Etsy’s huge marketplace.
7) Jewelry articles & findingsOne of the current top seller store on Etsy is called BohemianFindings. The store which opened in 2010 have sold not less than 1,084,068 “Unusual charms, buttons, beads and findings”. A great example of Etsy success.
There is a bit of a paradox here: while there are thousands of jewelry stores on the platform, the top sellers of the jewelry category are actually not creators but suppliers, mostly of chain and pendants as well as beads and other items that craft artists will assemble later on for their own shop.
8) Home decor, Art & CollectiblesThe home decor category sells thousands of pieces per week. One example is the handmade photo charm pendant (marketed by Share Living) that sold 273,704 pieces to date at $5 each.
Think about the amount of profit they made on this item when it only took them around $2 to create it.
9) Unique itemsItems that are hard to find in brick-and-mortar stores can become Etsy best sellers. That’s because people who deal with arts, crafts and jewelry have come to realize that Etsy is now the go-to site to find these rare or hard-to-find treasure.
Another example of a huge seller is the large acrylic top hole teardrop bead that sold for $2.99 per piece. They sold 291,188 of them!
10) Hard-to-Find itemsFinally, offering anything unique that is hard-to-find can help you to create a steady income for your Etsy business. If you provide access to items that cannot be found elsewhere, you may be rolling in dough soon.
It can either be some really hard to find antique items, but don’t forget that Etsy is a marketplace for creative people before everything else.
This means that you can create whatever rare items you desire since it will be your creation only. Think well about the niche market you could fit in and take the leap!
So How Can You Get Started?Etsy makes it nice and easy for you to start selling.
Simply sign up with your Facebook account and get cracking.
You can also use the platform to offer discounts to customers visiting your online shop, which makes selling on Etsy even easier – because it allows you to reward returning customers and offer additional incentives for people to make the purchase.
And the best part? You can be 10 years old...or 80 years old. There is NO AGE LIMIT!
Investment Tip of the MonthReal estate investing can be a great income stream.
But you might not have thousands of dollars to invest, right?
Or want annoying tenants calling you in the middle of the night with a broken toilet?
But you can buy into a real estate investment trust (REIT) account for as little as $34.
Here are two of my favorite REITs to check out:
Blackstone Mortgage Trust NYSE symbol: BXMT This also pays a 7% dividend $35 per share
Innovative Industrials Property, Inc. NYSE symbol: IIPR 2% dividend $64 per share
If you currently have a 401(K) account or IRA, one or both of these REITS would be good choices. :-)
Travel Tip: Cheap AirfareIn August, I went on a girls trip with my two daughters and my best friend to Madrid, Spain and had a great time! I absolutely fell in love with Tapas!! (very delicious small appetizers)
My favorite tapa was goat cheese, carmelized onions, and balsamic vinegar on baguette toast! Makes my water just thinking about it!
A few years ago, my daughter lived in Madrid after finishing college for one year teaching English to middle school students.
She was THE BEST tour guide and knew many of the not so expensive local bars and restaurants to go to!
Our flight was $525 when normally it is over $1,000!
You can check out the rates below...
Have a great February and go make some money!
Best, Sonja Cheap airline tickets
|Back to Back Issues Page|