It’s time for me to make a move. I’m working on setting up a shop on my website and leaving the Etsy platform all together. Why? Here’s an example.
This week I made a reasonable sale of yarn. When it came time for my deposit, Etsy kept 15% of my order. It went to their “fees”. Those fees are non-negotiable and also nonsensical. The yarn I sold for that order cost me 82% of the total dollars I received for that sale. That was just for the yarn base, no dye, no time, no equipment, nothing. Just the yarn. From that order I made 3% profit on that sale.
I spent hours dyeing and processing that yarn. I spent a ridiculous amount of money I choose not to disclose for the dyes, the equipment. None of that considers the time I spend honing and mastering my craft.
Profit after sale on Etsy? 3% my profit. 15% Etsy’s profit . This isn’t a one-time thing. Every order I take, Etsy takes a huge margin from me for their “fees”. It’s nauseating to someone like me who’s dependent on my yarn sales for growth, where one sale funds another new project. Frankly, I can’t afford to sell yarn on Etsy anymore (and never could, but as a new business didn’t see an alternative).
I have a website already where I spend a lot of time. Right now I’m learning how to safely and securely set up an ecommerce shop on this website so I can conduct sales here. Know what happens when I’m not hemmorhaging to Etsy? I can lower my yarn prices to my customers. That’s a win for everyone, and so I’m pulling the cord.
Look for new info on that brave new endeavor in the very near future. The good news? You already know where to find me.