Etsy Just Changed Everything for Print on Demand

in the last 2 months Etsy has changed everything and a lot of people might not be able to do Etsy print on Demand anymore now there are hundreds of print on demand companies out there like red bubble Etsy te Zazzle Cafe Press the list goes on and on and if you've watched any of my videos you'll know I'm a big advocate for Etsy print on demand and Amazon's merch on demand I think they are two of the best platforms to really make money and then of course there is shop which I'm a big fan of but we're not going to get into that in this video what with so many companies out there very few are actually worth your time because of their complexity the amount of money that you can make with them the product they have on offer their quality and various other things and I have a video coming out where I'm going to be reviewing all of these different companies for now we're talking about Etsy and what the heck have they done now with these Etsy changes print on demand isn't as simple as it once was for everyone one of the main reasons someone goes into print on demand is because it's free or supposedly free even though I am a true believer that if you go into print on Demand with a little bit of money you'll actually be able to make way more money and way faster but that's besides the point right now because a lot of people do print on demand because it's free Etsy was one of those companies that were ticking most boxes they're getting over 400 million visitors a month they have tons of buyers and getting sales on Etsy is very realistic the only real drawback to Etsy was the fact that every listing cost 20 cents and the profit margins was very confusing what with different taxes and different costs here and there you have to really use an Etsy calculator to truly see and understand what your profit would be otherwise you could end up like this person where they made a sale but actually they lose money at the end of it however Etsy have now made three huge changes and that is what this video is about I'm going to go over these three changes in this video I'm going to tell you what it means for you and I'm going to give you some solutions about what you can do moving forward to kind of counteract these changes but before I do I want to quickly tell you about my brand brand new print on demand Community I used to have a Facebook group but now it has changed I not using Facebook anymore I have now built a free membership and the link will be down below in the description lots of people have joined lots of people introducing themselves and it's just the start of some incredible things that are to come lots of exclusive content will be posted on this community and well I don't want to ruin anything but there's going to be some really big announcements and most most of them will take place in this free community so click the link down below join for free and hopefully I will see you there going back to these three insane changes the first change isn't actually such a big deal if anything it can be quite good they are introducing more identity checks for people trying to create a shop meaning they have actually partnered with a third party app that some banks use meaning when you actually go to a shop you'll be asked to use your phone or your webcam and actually take a picture of your face and then on top of that upload your passport driver's license or form of ID now this is going to turn a lot of people off because some people don't like sharing this information especially sharing their passport with a platform like Etsy now I don't think it's such a big deal and if anything I think it's quite good because it will weed out a lot of scams and and and people who on the platform just copy and do dodgy things this way you can be sure that the sellers on the platform have been vetted have been checked and will hopefully be legitimate sellers however this change is nothing compared to the next two changes the second change is the payment schedule for new sellers could be changing now what does this mean because for a lot of people they might not even know what that means well basically the way Etsy works is you connect it with a printing partner let's say printify or printful or gelato doesn't really matter which one when you get a sale let's say Sally buys your product she will pay you but she will pay Etsy you and Etsy will hold your money in your Etsy account so you could have five sales with $50 in your Etsy account now the the the thing that is is annoying here is you have to fulfill those orders so you will then go to printify or or this could happen automatically if you set it up automatically but printify will will fulfill and they'll ship those orders out to Sally and this will cost you so what's happening here is you are laying out money to fulfill that order to send it to Sally Sally was the person who bought it and the money that Sally paid which is in your Etsy account will then get paid to you after a few days so you are laying out a bit of money and a lot of people will use a credit card for this so that they're never out of pocket or they'll make sure they have enough money in their bank account to cover them for you know four to 5 days however this this new payment schedule for new shops could complicate things let's say Sally buys a product from you pays pays Etsy pays your Etsy account and then you go and fulfill the order with Printery and you pay print ify Etsy then new scheduling then maybe taking a week or even two weeks for you to get paid that could be really really bad that means you are technically laying out money for Etsy for quite a long time why does Etsy need to have your money for this long the customer Sally would have received your product at that point and what are Etsy doing with your money are they receiving interest by keeping it in one of their bank accounts are they profiting somehow with it what are they doing why do they need to keep your money for an extended period of time now the exact wording that Etsy uses is actually confusing because they're making it sound like this is a benefit and let me let me let me read it for you because I think it's ridiculous we want to create a better more trustworthy experience for buyers who purchase from brand new shops we're exploring changes to payment schedules for new shops until they have a proven track record of sales on Etsy these changes may affect how long new shops need to wait for their funds to become available and this is the this is the worst bit we're making these updates to help ensure sellers who are just getting started can fulfill their orders or provide refunds when needed new shops will see their payment schedule right in their shop manager after they complete onboarding so the bit here that's really confusing is it's saying we're making these updates to help ensure sellers who are just getting started can fulfill their orders but the complete opposite is going to happen because if you're not going going to pay sellers quicker how on Earth are they going to be able to fulfill those orders if they don't have access to their money it it's ridiculous now I can understand it from a fraud and a scam preventative aspect but by doing this is going to put a lot of people off because it means you're going to have to lay out money for an extended period of time that you may not be able to and well I wish that was the worst change but it's not because change number three is by far the worst one it is no longer free to set up an Etsy Shop meaning Etsy used to be one of those amazing platforms that were free except for the 20 C listing but then again a lot of the time you can get 4 fre listings if you click on someone's link you can share your own link and get 40 fre listings that way and you can end up racking up quite a few 100 free listings making Etsy truly free but with this change they are now charging certain shops and I'm going to explain the wording to you in a minute but they're now charging certain shops $15 to get started now I know that's not a lot of money you know for example Shopify could be $3 or $40 a month after the first month where you get it for $1 and other platforms can cost even more however the idea of etsy and the reason why so many people liked it and used it was because anyone could set up up a shop now that they're having this barrier of $15 that's going to put a lot of people off who have come into this print on demand business with the hopes of it being free to start or basically free to start 20 cents is not that much for a listing but $15 to create a shop that's non-refundable and a shop can completely fail that's quite a lot especially if you're creating Niche shops if you have like I don't know 10 Niche shops that's going to cost you $150 to create those shops that is no small amount of money what's even crazier is their exact wording is this we'll start by introducing this fee to some new shops they'll pay a one-time setup fee of $15 before they can open for business what is a setup fee we would be doing the setup ourself Etsy isn't doing any setup not it's not like we're paying $5 and someone will create the store for us we still need to create the store at the product connect the printing partner and make it look all pretty so it seems a bit ridiculous that there's a $15 setup fee but what's worse is it's only going to happen to some shops this is very vague and who knows if you're going to be affected it just seems a bit weird it seems like a bit of a money grab from Etsy do they really need this are they struggling it just seems a bit ridiculous well if we actually look at the Etsy stock price because that's kind of a good way a good indicator to see if a company is struggling they're actually down 4.58% in the last year so they're actually down which leads me to believe that are are they just trying to increase their bottom line by adding these unnecessary expenses to people it just seems a bit mad you know and look I I personally would still recommend Etsy because of their humongous traffic numbers and the fact that the potential with Etsy is so big compared to places like red bubble or tea public where you can literally make $1 per sale with Etsy you can actually make $1 plus dollars per sale so I would still recommend Etsy but I would also say if you haven't tried Amazon and and if you can get accepted try Amazon and if you're already willing to spend money to set up an Etsy store consider Shopify there is so much potential there and it's really really cool and now I just want to quickly say in my new community that I've built I've actually just released a video today talking about an incredible way to create tons of viral organic videos for Tik Tok that can lead to your store which again if you click the link down below you join the community you will be able to see that video it's a really cool video I won't be posting it to the YouTube channel I'm going to be keeping some stuff just for the community which anyone can join because it it is free but besides that moving forward now with these Etsy changes yes I recommend Etsy still yes I still recommend Amazon I still don't recommend red bubble or teu or these kind of companies because I just think the amount of time spent is not going to make you money back it's just not worth the time and above all I really do recommend setting up a Shopify print on demand store and you can do it with as little as $300 and that includes spending money on ads and getting your first sales so if that's something that interests you let me know in the comments down below I'll make more content on it and I'll be making a separate Community just for people who want to do this well I'll be able to actually hold your hand through the entire process and really help you get those first few sales

Channel: Shimmy Morris

Views: 87,277

Keywords: tips for starting an etsy shop, how to start an etsy shop, selling on etsy, etsy shop, how to open an etsy shop, etsy seller tips, how to sell on etsy for beginners, etsy shop tips, starting an etsy shop, how to make money on etsy, how to open an etsy shop step by step, how to start an etsy store, open an etsy store, how to open an etsy store, how to open an etsy shop for beginners, full etsy tutorial, etsy print on demand tutorial, selling on etsy 2024, etsy shop 2024

Id: GtMhIYm5GOk

Length: 12min 44sec (764 seconds)

Published: Thu Apr 04 2024