In this lesson, we’re going to examine some Etsy stores that have ALREADY achieved success.
We will look at all different types of stores, the products they sell, and WHY they are so successful!
Before we started this course, we did A LOT of research and combined that research with our own decade’s worth of knowledge (the valuable information we’ve learned from our own successful Etsy stores), and data from the clients we’ve already helped to launch stores of their own.
Using all of this information that we’ve gathered, we did a HUGE case study of more than 25 stores that sell successfully.
You might have already seen this case study before starting the course. But if you haven’t seen it yet, just download it here:
This lesson is going to examine 5 different shops from the above case study, so that we can explore WHAT makes them successful.
What sets them apart from competitors? What might they have in common with the other shops?
It’s important to understand what others are doing RIGHT, so that YOU can make super smart decisions when creating your OWN shop throughout this course.
When you look through the pages of this case study, one thing you will notice is that we’ve listed their shop stats at the bottom of each page. Along with their shop stats, we’ve calculated estimates of their annual PROFITS.
What you can’t see from the case study pages (because it takes way too much space to explain) is that these are CONSERVATIVE estimates of their shop profits. We used a fairly LOW profit margin and divided their sales evenly by the number of years the shop has been open.
Often, shops have better profit margins than what we’ve used in the case study, meaning their profits are possibly EVEN higher than these pages show.
We wanted to be conservative, because we DON’T want to be misleading or misinform you in any way. A lot of similar case studies like to show you estimates of annual SALES, so they can show much higher numbers. But sales aren’t profits.
It is VERY important to us to always be as transparent and conservative as possible- because if we’re not setting YOU up for success, then we’re not succeeding either.
Our goal with this course is to help you start and grow a long-lasting, sustainable income, not encourage flash-in-the-pan ideas that fizzle out and leave you frustrated six months later.
We also want you to understand that LAUNCHING a new business (aka your new Etsy shop) is the most time consuming period.
Once you’ve done the work of launching and getting your first sales to come in, you can then spend time on GROWING your sales instead of setting up your shop.
So OUR case study uses conservative and averaged profit estimates, to encourage more realistic expectations, and I wanted to point that out straight away so you know what you’re looking at inside the case study pages, and why.
Now that we’ve explained the WHY, let’s talk about the WHAT- and look at some of these amazing shops:
Etsy Success Shop Feature #1
The first shop we’re going to highlight from the case study is ‘Emma And The Bean.’ This shop is selling a variety of handmade farmhouse signs, but their biggest seller seems to be a framed burlap-print travel map.
The shop has almost a quarter of a million dollars in profits per year (WOW!!) assuming they have a profit margin of 25%. (Some handmade shops have profit margins up to 60% or 70% so our estimate is pretty darn reasonable!)
But WHY are they racking up such high sales?? Well, their winning product is not only fairly easy to create, it is personalized. They spent time creating the intial design (a travel map) and can quickly adjust the two lines of personalized text to match each order as it comes it. Then they save the design, print it onto a piece of burlap, and put the burlap into a pretty frame. (They could be purchasing pre-made frames, OR they could be pre-making the frames in batches.)
Essentially, this shop has found a way to take an in-demand product and streamline the production so that it is not only personalized, but doesn’t necessarily take forever to make. SCORE!
Etsy Success Shop Feature #2
The next shop we’re going to look at is making much less than our first shop, but was important to include, and we will tell you why. Let’s look at the shop called ‘Custom Vinyl Signs By Bridge.’
This shop appears to be making around $40k in annual sales at a 25% profit margin. But because these are handmade, their profit margin could be as high as 70%! Assuming a profit of 50% (so still pretty conservative for this niche), they would be bringing in $80K per year.
I wanted to highlight this shop because they are also selling personalized items- primarily selling decorative signs for weddings, classroom decor and holiday decor. This store has a niche that will ALWAYS be in demand.
There will ALWAYS be weddings. Teachers decorate their classrooms every year. And holidays just keep coming back again, every single year like clockwork. (Funny how that happens, huh? LOL!)
Consistency is key when looking for successful products. This store is a great example of finding TIMELESS products, which you’ll learn more about in the next lesson.
Etsy Success Shop Feature #3
Let’s take a look at a DIGITAL downloads shop. ‘Creative Trend Co.’ is a SUPER NEW shop, only getting their first review on August 3rd, 2020!
This shop only has a handful of items, but their biggest seller is a ‘Drunk Uno’ game rules digital download. They aren’t actually selling the Uno game, but instead are selling alternative rules to play an existing game differently as an instant download!
With only a sale price of $2, their estimated annual revenue of $14k is AMAZING.
Why is this worth mentioning? This seller only creates their products once (as digital files) and they can sell them over and over again!
This is a very minimal amount of work, and can build a great passive income!
Etsy Success Shop Feature #4
The next shop we’re going to highlight sells SUPPLIES. ‘Breeze Print Co’ is making an estimated $200,000 per year, and they don’t actually make anything!
This shop sells vinyl sheets, which can be used to make wall decals, t-shirts, signs, personalized tumblers, and more. Stores who sell vinyl sheets typically order the vinyl directly from the manufacturer(s) in large rolls, and then cut the rolls down to smaller sheets in various sizes. Customers can then mix and match the colors they want, giving them more variety.
Essentially, this shop is making it more convenient for their buyers to build up a variety of different colors and styles of vinyl and only buy what they actually need- so the seller makes a profit by investing in the larger roll quantities and selling in smaller batches.
This is a FANTASTIC product niche, because they don’t need to have ANY crafting or artistic skills to master this niche!
And, if startup funds are limited, they can start with only a small selection of colors to choose from, and then buy more supplies as they grow.
Etsy Success Shop Feature #5
The last shop we’re going to highlight is ‘Up2OurNecksInFabric.’
T-shirts are insanely popular as Print-On-Demand products, and this shop is making a whopping $175,000 in annual profits!!
Because shirts are ALWAYS in demand, sales tend to be more stable and grow more steadily than some other product choices.
It is also fairly easy to create a large number of designs, because you only purchase the actual items from the manufacturers once you get a sale on Etsy. You don’t need to buy supplies, make anything, or worry about stocking products.
This means that you can really GROW your shop without taking a lot of financial risk, since you can create unlimited products and only pay for the ones that customers actually purchase.
So you can see from these 5 shops that Etsy can be an insanely profitable platform!
In the lead magnet download, you can find over 20 MORE shops, some which are just part-time hobbies and some which are wildly successful full-time careers.
Something we tend to hear often with ANY niche or product idea, however, is that it’s already been done.
And that might be true. But the COOLEST thing about Etsy is that they attract a HUGE number of buyers every month, and they all have DIFFERENT styles and tastes!
So even if something has already been done, it hasn’t been done BY YOU– and your ideas & styles will attract those DIFFERENT customers.
Don’t be intimidated by what’s already out there. This is the time for you to get inspired, and be ready to claim your OWN success!
In the next lesson, we will go over some things to consider when choosing a winning product.
So explore the pages of this case study, let your imagination run wild with ideas, and then meet us in the next lesson!
Get the course for HALF OFF for the month of OCTOBER, and get a jump start on setting your store up for the holidays! Use coupon code: HOLIDAYJUMPSTART to apply the discount. Discount expires at midnight (EST) on November 1st, 2020.