Etsy Shop Update and Income Report for February 25, 2021
Hi RTB community! I haven’t posted as much as I wanted, but definitely wanted to give you an update on my Etsy shop. Plus I needed a place to write down everything I’m learning before I forget! So here we go…
If you just stumbled upon this blog post and want to follow my journey of opening an Etsy shop with no prior knowledge, start here. My intention is to provide a weekly update, especially at the beginning, and then transition into a monthly update.
- I made 33 sales so far! My goal for this first month was to make at least $100 dollars by the end of February and today I’m currently at $149!
- I created a few new printables that focused on handprint art for upcoming holidays. I created a St Patrick’s Day Handprint Art Collection and an Easter Handprint Art Collection.
- Don’t get dependent on one platform. My focus has been to use Pinterest to promote my products and get more sales. As I was promoting my St Patrick’s Day Handprint Art Collection, I somehow accidentally got my Pinterest account suspended! As I did more research, it turns out Pinterest has a habit of suspending accounts for no reason, so they ended up re-instating it the next day. Whew! But it definitely got me thinking about how I grow this business so I don’t depend on just one income stream for traffic. I’m still going to focus on Pinterest right now, but my plan is to work on getting traffic from multiple sources in the future.
- I tried out Etsy Ads this week for my Toddler Busy Book! I started with $2/day for about 7 days. While I did get sales, none of them came directly from the ads. So right now, I dialed the ads back down to $1/day. I don’t think I’m specifically making money from the ads, but I think my product is getting noticed by people more, which is resulting in more sales. As long as it stays profitable, I’m going to keep the ad going at $1/day. The great thing about the printable is that I’ve already made it, so as long as the ads don’t cost more than the product, I’m making passive income!
What I’m working on this week
- My push over the next couple weeks is to stock my store! Right now, I have 8 listings up and my goal is to get at least 25 listings up by the end of March. I noticed that most of the successful shops in my niche have about 150 listings, so my goal by the end of 2021 is to have at least 150 listing in the shop. As I grow, I’m sure some will sell really well and others will flop, so the more listing I put out there, the better idea I have with what sells and doesn’t sell.
Etsy Store Income Report
I’ve made 34 orders so far and made $150.63. The sales of my Toddler Busy Book have been picking up along with some of my handprint art collections. My goal is to make another $150/mo in March and to see a path towards consistent monthly, passive income.
My annual goal is to get to $2,500/mo in passive income, which would be $30,000 per year. That would be 500 sales per month at approximately $5 per sale. Right now I’m at about 1 sale per day (so approximately 30 sales per month) with only 8 listings. So if I can have 150 listings, that would be about 560 sales per month. So I’m just working on getting high quality listings up as quickly as possible.
If you are interested in purchasing anything from the store, sign up for my VIP Buyer List to get an instant coupon code for 10% off the entire store!