Any UK Etsy sellers about - about to be a Newbie seller and have questions

[RiftGibbon]

I'm intending to launch an Etsy shop with a friend (of all the sales platforms online this one seems to be the most suited to our products).
However, I note that the T&C's imply that you need a credit card to set up billing if you're in the UK. Thing is I don't have one. I don't think my friend does either, but waiting on her to confirm.
Does that mean we can't use Etsy?

Also - how do you work out your pricing? It's been years since I sold any hand-crafted items, and when I did so, that was just at local fairs so I bunged a few quid onto the cost to cover basic pitch fees and to make a 10% profit.

Bump

No advice but I would like to know too!

I don’t think you need a credit card. Etsy pay direct into your bank account so you just need those details.

Be warned though that unless you offer free shipping to the US you will be buried in the search results.

I have a store, you don't need a credit card, debit cards are fine.

There is a no one calculator which is really helpful in working out how much profit you will make and how much you will pay in fees. Just google Etsy fees calculator.

Good luck!

Craftybase has an Etsy fees calculator so you could use this to make sure you make a profit.

Just a debit card and I offer free world wide shipping otherwise you get lost in all the posts.

Debit card is fine. I charge shipping to UK and US and make plenty of sales. My margin is approx. 40% profit. Well - they're handmade, so I take costs of materials and packaging then add on x hours of labour at £20ph, plus 10% contingency (my materials can be variable) works out as about 40% profit on the cost of materials alone.

Oh yeah - sellers fees as well as materials and packaging, then labour on top.

Thanks for the feedback.
At the moment I think we can only offer UK and will have to charge for postage but I have now made myself a spreadsheet on which I can calculate deductions by Etsy and so work backwards to a pricing structure!
The friend I am working with is in a different city to me, and we both produce handcrafted items but with no overlap in product.
Useful to know that we can use a debit card though as that makes things easier.

I'm just working on my logo, and need to photograph my items. So hopefully we will be up and running soon. My friend has been researching key words that should return our items in listings - hopefully.
I've looked at similar items and I think the prices we're setting are competitive without being OTT and without us losing out on profit.
I guess we could, or should consider postage costs and look at factoring those in too?

There's a seller handbook for Etsy on their site that gives you lots of really useful hints and tips. If you can absorb your p&p cost into your item cost then offer 'free' p&p that is definitely the way to go, as far as being the way Etsy likes things to be done. If you are 'on message' with your approach to p&p and offering a good product you are more likely to be selected for promotion opportunities by them.
Another reason for absorbing p&p into the item price is if you and your business partner are working from the same shop front and potentially posting two items in the same order from different places.

I only sell to UK and charge for shipping, although it’s very reasonable and covers any amount of items.

I don’t have a credit card, only a debit card.

Good luck with your shop. I have busy weeks and quiet weeks. This week has been quiet since Sunday. Have other Etsy sellers found the same?

Yeah I've been quiet. I think a lot of people are losing work and panicking about money/tightening purse strings. A handcrafted gift is a luxury and something they can do without! I fully expect to sell very little over the next few months (peak season for me normally) so am categorically fucked.