etsy vs shopify when is the money deposited

hey there and welcome back! If you're trying to decide whether to open your,shop up on etsy or shopify one of the things you're,probably considering is how expensive it is to sell on one,platform versus the other and it can be really hard to figure out,which one's going to end up being more expensive in the long run,so today i'm going to take you behind the scenes of my successful etsy and,shopify stores so we can figure out once and for all,which platform is more expensive to sell on,all right so here we are inside my etsy shop and one of the really nice things,about etsy is they do have a really beautiful dashboard to help you see,your sales versus your fees. You'll see in a second when we go to shopify,you can get all the same data but they don't have a view like this where it's,just really clearly laid out for you so we're going to have to,i'm going to show you my sales in one spot and then i'm going to show you the,fees actually in an excel spreadsheet because i have to go to a whole bunch of,places to get all the data to compare but with,etsy they do have this really lovely place you just a one-stop shop to go and,see how much you sold during a time frame,and then how much you paid in your fees so that's really nice,so for etsy we're looking at the months of january through june,so the first six months of 2020. i did eighteen thousand one hundred and,eight dollars in sales my total fees were forty two hundred ish,dollars but we're only going to worry about the,listing fee that's the cost when i list a new item,on etsy or when i renew an existing uh an,existing item on etsy if it expires and then the transaction fee that's the,cut that etsy takes every time i make a sale,and there's a third fee that's hiding in here it's called the off-site ads fee,so we're not going to worry about the advertising fee,that's the amount that i pay to promote my listings on etsy,so that's a choice i made to decide that i wanted to promote listings on etsy to,try to make extra sales that's not required it's not a required,fee this offsite ads fee is that the etsy charges me when they,promote my product on a different channel,on pinterest or facebook or instagram if somebody clicks through,one of my images and makes a purchase I get charged a percentage of that sale,for me it's 12% because i make above a certain,threshold of sales on etsy but i think the standard is 15%,so we'll look at the listing fee, the offsite ads fee and the,transaction fee and the total of those three numbers,is one thousand and seventy two dollars so for the first six months,of 2020 i did eighteen thousand dollars in sales,and i paid almost eleven hundred dollars in fees,to etsy there's no monthly fee i don't have that 30,fee that we're gonna see on shopify in a second but there are those listing fees,there's that offsite ads fee and there's transaction fees,if we jump to my shopify store and totally coincidentally the sales are,gonna be almost the same they're pretty close,for the first six months of the year i did just shy of twenty thousand dollars,on shopify so i'm at nineteen thousand eight ninety one almost two thousand,dollars more on shopify than etsy and like i said i don't have a pretty,dashboard to take you to to show you um the fees all in one spot but i'm,gonna jump you over to an excel spreadsheet,where i broke them down for us to look at so you can see on shopify i pay a,subscription fee so if we look at this it's 29.99 a month,it's that basic shopify plan i paid it six times once every month so,i paid a total of a hundred and eighty dollars in subscription fees,for january through june shopify takes a 3.5 percent cut of every sale i make,so i paid 714 dollars in transaction fees to shopify,and in total i paid just shy of 900 in fees between my subscription and my,transaction fees shopify doesn't do any marketing for me,so there's no offside ad fee no other like funny fees to add in there,the only other thing i could choose to do i could subscribe to apps,if i wanted to add extra features to my store some of those are paid,but just barebones shopify it's just that 29.99 the month subscription fee,so if we compare the two on shopify remember i did just shy,of 20 000 in sales and i paid just under 900,in fees on etsy i did eighteen thousand one hundred in sales almost two,thousand dollars less than my shopify store,but i actually paid almost two hundred dollars more in fees,i paid over a thousand dollars just shy of eleven hundred,so even though i don't have that monthly subscription fee on etsy,i end up paying more because etsy takes a higher cut of my profits,so hopefully that gives you a better idea of what it really costs to sell on,shopify versus etsy i'd love to hear from you in the,comments does this all make sense do you still have questions about the,difference in the fees between shopify and etsy,and is this helping you make your decision maybe to go with one platform,versus the other let me know down below if you found,today's video helpful make sure to hit the thumbs up to like,it share it with your business besties and if you haven't already make sure to,subscribe to my channel to be first on the list when new videos come out every,tuesday can't wait to catch up with you in the,comments

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