Sunday, March 17, 2013

Money Hack #17 - 90%+ Margins at Etsy.com

Now I know there are shit-tons of people and websites out there that tell you complete crap ideas about how you can make $5K a month picking your nose at the kitchen table and selling it online with one hour of effort per week.  This is just stupid and annoying.

However, there is a really cool up and coming site caled Etsy.com that allows you to sell crafts pretty easily online.  Obviously you have to be slightly talented in this area to make this idea work, but you can sell just about anything on there and they actually do offer a quite a portfolio of services to help you market your produt/business (Think SEM, SEO and other advertising mediums).

Anyway - here is an idea that a friend of my wife's did last Xmas.  She spent about $100 in raw materials (Ribbon and other stuff) and created snazzy card holders that you could hang anywhere.  Cost of each holder = 50 cents; retail price on Etsy $10.  Nice margin!  The shipping was also cheap due to light materials.

Think about putting your wife, girlfriend, brother, sister or whoever to work making cheap crafts and then selling them for huge markups via Etsy.com  You only have to be "slightly" creative in my opinion to pull this off.  The real necessity is having a good cheap idea.

Let me know what you have/will come up with - maybe I will buy one!





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