Sunday, February 3, 2013

My online etsy fee calculator

I know, I know, I'm not the first Etsy widget writer to publish a quick and easy online fee calculator. But I think mine combines the most functionality, with the least amount of "annoying", that's why I wanted to put it out there for free and with no ads.

It's here:

Fee calculators are a BIG DEAL. When you first list something you don't think much of that twenty cents, hey it's only twenty cents. But once a transaction is all said and done, fees can start adding up to something like 10-20% of what a customer pays you. If you sell a $5 item with free shipping, you're paying about 80 cents in fees, and you haven't even sent the dang thing out of your house yet. If you do charge for shipping you get more, but the fees are higher because transaction fees apply to everything. Be sure to do the math!

I also added an important calculator at the bottom of my page that I couldn't find anywhere: a profit margin calculator. It lets you add in your supply costs to see if you're really coming out ahead when it's all said and done. Having a profit margin goal can be important. And from my experience, if you have a goal of say like 30% and price your items accordingly, you won't always get 30%. Sometimes a supply costs a little more, or shipping doesn't work out exactly right. But you'll probably get 20%, just because you went in shooting a little higher.

I realize this is all math and business stuff, not our favorite topic, not as pretty. But at least take a few minutes to make sure you're not losing money! Maybe your hourly wage is just a smidgen above minimum... I affectionately refer to my sewing room as "Spacefem's sweatshop of love". And the most important thing about being on Etsy is, I thing, learning. Not making money. Just making improvements. But a little business lesson now and then can't hurt too much.

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