Etsy fees explained, how to calculate selling price and make profit

Etsy pricing worksheet

What is gross profit and gross profit margin: https://youtu.be/Px4pEhiTRdI

How to start an Etsy business: https://amzn.to/3miWrmU
Build Etsy empire: https://amzn.to/3mc8nGT

Create you own etsy pricing worksheet for 2021 taking into account etsy fee, the product cost and shipping and your profit margin. This video will explain how to calculate selling price for your Etsy products to cover all the costs and Etsy fees, and make a target profit on your sale. You can work with Microsoft Excel or Google Sheets, and create a file that you can use again and again to calculate price of different Etsy products that you sell on the platform. You can create a spreadsheet to be used as you product or jewelry pricing calculator.

Learn what financial numbers really mean here: https://amzn.to/2HPYDUI

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How much does it cost to sell on Etsy?
In order to determine your cost on Etsy, you need to take into account the cost of manufacturing or creating your product, plus shipping all the etsy fees. Etsy's fees are pretty straightforward. It costs US $0.20 to publish a listing to the marketplace. A listing lasts for four months or until the item is sold. Once an item sells, there is a 3.5% transaction fee (varies by country) on the sale price. If you are allowing buyers to use Etsy payments credit, then there is an additional transaction fee which is around 5% of the sale price.

How do you price crafts to sell on Etsy?
First of all you have to take into account all the fees from Etsy, as well as the cost to manufacture the product and the cost to ship the product. You add the fee and costs, and apply a percentage markup on top of the number to determine your selling price. The markup you add depends on the product you offer, the niche and whether its a customized and unique product. You can review prices on Etsy for similar products and if you are still making a profit using competitor prices, you can use similar prices as you competitors. But if your product is really unique, you can charge a higher price and customers will be willing to pay the premium price.

Here is a video where I explain in detail what is profit markup and profit margin, how to calculate each and convert markup to margin, and margin to markup:
https://youtu.be/NDqPX5gnmlw

Etsy fee explained using Microsoft Excel
The video will cover the main fees that Etsy charges shop owners such as listing fee, transaction fee and payment processing fee and taxes. Once you have created this file, you only need to update your costs, such as cost of making or manufacturing a product, and the shipping costs, and then you can determine what price to set to arrive at a target profit, or target profit margin.

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