Office Space Expenses

$0

$7,000

Employee & Freelancer Expenses

$151

$352

Website Costs

$223

$7,215

Business Formation Fees

$5,600

$20,400

App Creation Costs

$1,000

$20,000

Software Expenses

$162

$3,094

Advertising & Marketing Costs

$0

$2,750

Total Startup Costs

$7,136

$60,811

OpossumRotStudio

etsy.com/in-en/shop/OpossumRotStudio

73

Gift Wink

etsy.com/shop/GiftWinkCustom

74

Ann + Joy

etsy.com/shop/annandjoy

74

Stoic Muse

etsy.com/shop/StoicMuse

74

With Love From T To You

etsy.com/shop/withlovefromttoyou

74

Tag Pup

etsy.com/shop/TagPup

74

Funky Monkey Children

funkymonkeychildren.com

77

erank

erank.com

4,432

eShop Marketer

eshopmarketer.com

284,223

Aurora Designer

auroradesigner.com

356,444

Easy Fashion

easyfashion.com.bd

678,307

Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

Ability to start your business from home

It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!

Scalable

With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.

Traffic to your website

A etsy business gives people a reason to visit your website and to keep coming back to you!

Meaningful business connections

You never know who you will meet as a etsy business. This could be the start of an incredible business opportunity!

High customer retention rates

Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.

Motivation of employees

If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.

Longer Sales Process

A etsy business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.

Taxes

As a etsy business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.

Niche Market

A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.

You may need to charge sales tax

If you are selling your products in various states, you may be required to charge sales tax. Although this may not impact your financials specifically, it can be a headache to create a process and procedure for this. To learn more about sales tax, check out this article

Difficult to build trust with your customer

With starting an etsy business, there can be minimal face-to-face interaction, which means it can be a lot more difficult to establish trust with your customers. You'll need to go the extra mile with your customer to grab their attention and business.