It’s without a shrivel of doubt every handmaker’s or artist’s dream to make their hobby or passion into a full-time job that pays the bills and then some! However, it’s not that easy. Even with an amazing product that sells itself, millions of entrepreneurs struggle to make ends meet. Here’s our guide on:
How to Switch from Part-Time to a Full-Time Operator of an Etsy Shop? Before you can go full-time on Etsy you need to make sure that your estimated recurring income outperforms both your business and personal expenses; don’t forget to factor in your time as well as variable costs procured by your Etsy shop’s projected growth.
Starting, running, and growing an Etsy shop is no easy task. Those that make the leap from a hobby to a full-time business on Etsy do so after a great deal of consideration and risk. Read below to find out how you can make the transition to a full-time Etsy owner and how much you can hope to make.
It may sound cliché, but the most difficult transition you’ll have to make on Etsy has nothing to do with product, marketing, or pricing but everything to do with mindset.
Unless you shift your mindset from looking at your Etsy shop as a hobby to viewing it as a legitimate business you intend to dedicate your time and recourses to in a significant manner, then your Etsy store will simply not grow.
Once you make that leap in your head, then all of a sudden the decisions you make are more focused, thoughtful, and risk-averse.
Sellers who view their job on Etsy as a hobby often think in terms of “Plan B” thinking that worst-case scenario they can go back to their job or do something else if all else fails. Get out of that mindset!
You are in it, to win it. If you love what you do on Etsy then it needs to be your Plan A, B, and Z!
So, first things first, shift to a business owner mindset and make all of your decisions from that standpoint.
Now let’s get into some concrete steps you can take to make that transition from a hobby or passion project to a full-time job and business on Etsy:
The first thing you should do is know your numbers inside and out.
Most people running a business will track their revenue and business expenses but because you are willing to make that jump from a part-time to full-time e-commerce operator, which may mean quitting your current job, then you also have to factor in personal expenses as well.
You can easily track all of your personal and business income and expenses in an Excel or Google sheet and classify them based on category. This will not only give you a good indication of when you are financially ready to go full-time on Etsy but also where you can save more on a monthly basis.
As you switch into your full-time Etsy role you need to understand that all of your daily tasks, scheduling, and organization rests on your shoulders.
Having a daily, weekly, and monthly planner is super beneficial! When you have a hobby, everything is sporadic and fun but when you go full-time you have to think very critically about marketing, SEO, and buying materials so plan your week accordingly to save time!
In the last two years, anyone working from home can tell you that the most important productivity hack is having a designated office space in your home or elsewhere that serves a singular role.
If you work out of your living room, kitchen, or bedroom you may have a difficult time differentiating between work time and family or relax time.
If you go full-time on Etsy you definitely need a separate office space in your home!
You may not think that you can afford help, but outsourcing a VA position could only cost you around $2.50 an hour and would help with simple tasks that you hate doing or are not good at.
As you delegate more work you will have more time to spend on the aspects of our business you actually enjoy doing.
Let’s get something straight, if you are leaving your full-time job because you think you will work less on Etsy then you are sorely mistaken.
Running a business full-time doesn’t mean 40 hours a week, it means working 24/7.
In all seriousness, understand that once you go full-time on Etsy you are sacrificing a lot of your free time because you will now have to focus heavily on SEO, marketing, keeping inventory, and answering customer questions.
Pro tip: Before you actually go from hobby to full-time, block out a week where you work as if you were running your Etsy shop as your sole source of income and figure out how much time you are actually willing to spend per day running your business.
The short answer is yes! The long answer is that it completely depends on your product, brand, and how much time you are willing to invest into your business.
For a more detailed answer, check out our article: How Much Does The Average Etsy Seller Make?
In general, the average Etsy Seller will make around $44,400 per year on Etsy.
Now, this number may seem low and perhaps lower than your current full-time position, which is why you should have some sort of revenue base from your part-time Etsy hobby before you make the leap.
Still, top earners on Etsy make upwards of $50,000 – $60,000 per month which is more than half a million dollars per year!
Case Study: One Etsy Seller named Reuben Reuel started his Etsy shop full-time after being laid off from work. After many sleepless nights, he was able to earn enough money from his Etsy shop Demestik that he could afford to pay all of his bills and rent for his apartment and creative studio!
It can be very scary for hobbyists to take that risk and go all-in on Etsy because truthfully there are no guarantees. Still, there is no feeling quite like working for yourself, owning your own Etsy business, and not having to answer to anyone. If you want to increase your probability of success on Etsy, you can take action today by significantly increasing your traffic through data-driven keyword placement.
Contact us today to find out how we can help massively grow your Etsy business and help you transition into full-time Etsy work!