In my timeline for TKD woodworking, May is when I needed to start doing some research on potential e-Commerce and marketing/selling my product on the web. This is in addition to the potential of attending local craft shows and selling my wares face-to-face with customers.
For woodworking craft items (picture frames, boxes, etc.) the standard online sites are Etsy, Shopify and potentially e-Bay. Some other options include Squarespace, Wix.xom, and Woocommerce. There are pluses and minuses to each, and the internet it filled with commentary on which is best (and what are some other options). Do a search, read and make some decisions.
For me, I wanted to look at my sales plan for 2020 (items I expect to sell in 2020, in what quantities, and the associated marketing & sales costs for each option. So what are the costs for each option?
- Etsy: Etsy has a $0.20 fee for 4 months for each item, a 5% transaction fee, and a 3% + $0.25 payment process for each sale
- Shopify: Shopify costs $29 per month, with a 2.9% +$0.30 payment processing fee, and a 2% cost for using payment other than Shopify payment system (note: this is the cost for the basic plan)
- E-Bay: Ebay costs a $1 “insertion fee” (i.e. cost to publish for bid) and 8.75% for sale
I proceeded to take each of my items and the expected quantity sold, assumed each item would be “listed” twice in six months, and that I’d use the website’s payment system (and hence get charged their transaction fees). Based on this, I came up with the following results:
|Project||Total Selling Price||Total Sales for 2020||Etsy Cost to sell||Shopify Cost to sell||Ebay Cost to sell|
|Live Edge Cutting Board||$77.00||3||$19.53||$12.22||$23.21|
|EndGrain Cutting Board||$89.38||3||$27.29||$14.04||$26.46|
|Breadboard Ends Cutting Board||$127.88||3||$31.74||$19.70||$36.57|
|Japanese Picture Frame||$70.23||3||$21.35||$11.22||$21.43|
|Small Standing picture Frame||$25.82||3||$9.14||$4.69||$9.78|
|Tery’s Tea box||$174.16||3||$49.12||$26.50||$48.72|
|Arts & Crafts Bookshelf||$297.50||3||$72.45||$44.63||$81.09|
|Campaign Collapsable bookshelf||$249.73||3||$67.26||$37.61||$68.55|
|Custom cutting boards – face grain||$36.17||3||$13.17||$6.22||$12.49|
|Keyed, Mitered Box||$137.12||3||$40.23||$21.06||$38.99|
|Low Tech Box with Insert||$77.80||3||$19.72||$12.34||$23.42|
It appears the selling & marketing costs are pretty close. I’ve heard that Shopify is the easiest to get started, but I’m not sure it’s the first place folks go to purchase. Most folks can type in www.etsy.com, and start shopping – but its not as easy to find product on Shopify unless you know what you are looking for.
Based on this, I think I’ll need to do more research in the realm of marketing and which is the best source to get my product out in front of people. I’ll let folks know how its going further on.
Mr. 39 Months