Etsy 101 EP.1: "What does it sell on Etsy and how does it get paid?

Today I'm going to open with Etsy 101 so that people who haven't sold on Etsy can see how we can earn money from this platform.

If you divide it easily, I will divide it into two groups.

The first group is Physical Items or products that need to be sent to customers, such as shirts, mugs, housewares, handmade works, or products that we make through Paterner.

This group has some costs involved, because in some ways, when an order is made, we may have to reserve the cost of production or shipping to Partner first, and then wait for the money from Etsy to come in later.

So if you're a newbie and you don't have a lot of capital, I'd recommend trying Digital Product first.

Digital Products are products that customers buy and receive as files. There is no real thing to pack and ship.

In Etsy itself, there are two main types of Digital Products.

The first is Instant Download. We have already made the file. Once the customer has successfully purchased and paid, the customer can download the file.

The other is Made-to-Order Digital Item, the customer orders first, and then we work on the customer's details, such as Personalize or files that need to be adjusted individually.

Now, the question that newbies ask me a lot is,

"So when do we get the money?"

When a customer buys a job, the money does not run into our bank account immediately. The money will log in to Etsy Payments first.

For new stores, sales generally take about 14 days to start Available for deposits, depending on the status of each store.

After the money is available, we can set up a round of money, such as daily, weekly, every 2 weeks or monthly.

This must also be separated from the Payment Reserve, because people like to put these two things together.

Payment Reserve is another system that Etsy may use for some risky stores, especially sales of Physical products. Digital Items are not held in Payment Reserve as Physical Items.

For 90 days, I don't want you to remember "90 days and become an official store" because Etsy didn't call it that.

It's easy to understand that store history starts to build after we have real sales, and the age of the first order affects Etsy's multi-part system.

So it's been open for three months, but it's never been sold. With the store that sold the first order for three months, the status and sales history are not the same.

This is the basis of Etsy 101 that I want to understand first.

Because before we talk about research, making SEO products, or how to sell them, we need to understand what kind of product we are selling, what cost we have, and how the customer's money will come to us.

# Etsy new # Etsy 101 # Selling digital files # DigitalProducts # Earning supplementary income