AN Etsy seller took to TikTok to share some of the tactics she uses to generate over $1,000 a day in her shop.
TikTok user moneywithmak regularly posts clips sharing tips on how to make money online.
Mak, who runs the account, explained how easy it can be to build an Etsy listing and start generating interest in your products.
In particular, Mak advised selling digital products because they don’t require you to maintain inventory and can be easily generated.
Popular digital products on Etsy include planners, thank you cards, logos, and schedules.
She said the first step is to browse erank.com to find trending items that you can add to your storefront.
Erank is free, but offers paid options with more features for more established sellers.
Once you have a digital product in mind, she suggested using Canva, a free design tool, to create your products.
After creating a listing of digital items on Etsy, Mak recommended adding related keywords to the listing to potentially increase its visibility and search engine optimization.
She added that liking your own products or asking friends to like them can help increase your inventory.
In another video about increasing Etsy traffic, Mak also said she uses a service called PlaceIt to get high-quality mockups and promo images to use on her storefront.
You can then post these mockups on Pinterest for free publicity.
Mak said having quality imagery to boost your brand can go a long way in catching the attention of potential buyers.
She also said in another video that she uses print-on-demand to sell certain products, which can be a profitable and effective tactic for sellers.
Print-on-demand allows storefront owners on sites like Etsy to sell products without handling the merchandise themselves.
Sellers using a print-on-demand model can spend more time promoting their brand on social media and refining their designs.
Etsy Seller Statistics
Selling on Etsy can be a very profitable business, as top earners on the platform rake in over $65,000 a year, according to SaleSamurai.
The average Etsy seller generates around $45,000 a year, but those numbers are skewed by the site’s top shops.
According to StatisticBrain, about two-thirds of Etsy users earn less than $100 a year.
Etsy also charges 20 cents per product you list on the platform and takes 6.5% of sales in commission.
The tax implications of a side hustle
Whether you’re working side-by-side in addition to a full-time job or performing several part-time gigs, your income is taxable.
Not only that, but you should report your income from a side hustle or self-employment differently than you would report standard income.
A Form 1040 is required for those with multiple sources of income, as you must list all of your income on one form.
Additionally, you will need to file a Schedule C and Form SE to file your self-employment taxes.
If you have multiple sources of income, talking to a tax professional can help you sort out what forms you need to submit and how to fill them out correctly.
The extra income can also move your household into a different tax bracket, which will impact how much you’ll have to pay the IRS.
However, working on the side allows you to claim more tax exemptions, as you can declare your expenses for possible tax deductions.
You’ll need to have proof of the money you spent on your scramble, so be sure to save all relevant receipts for tax season.
The Sun has compiled a list of the top 10 money-making side businesses for 2022.
And a full-time college student made $840 in one weekend with her little gig.