Streamline Your Business with Etsy Invoices for Management

Etsy invoices for Management

it's time for some rather important Etsy news for people who want to open a shop or people already have one shop and might want to open another shop and that is that Etsy is changing the way that shops are working please excuse Alice she may be entertaining you in the background um basically what's happening is they've just announced in the last week that they're changing the requirements for new shops they're actually doing three new things and those things are very very different to how things have been done previously and they're going to cost you money and they're going to infringe on your privacy in new and interesting ways so I thought we would do a quick summary and I would take you through these changes so let's have a look at what they have to say Okay so strengthening new shop onboarding to keep our community safe this is what they're talking about um now interestingly Brendan M Ryan he is the head of etsy support So if you you've had issues withs support now you know who the boss is and you can contact him if you need to talk to somebody so they work to ensure Etsy is a safe and trusted place to shop uh we'll be making these changes over the next few months and they'll only apply to newly created shops your existing shop won't be affected this dropped on 21st of February so they're not giving any sort of timeline here they're just saying in the next few months which is why I wanted to share this with you today so that you could make an in formed informed decision if you have been thinking about opening an Etsy shop or if um I'm just going to make this bigger again cuz this is entertaining um if you're thinking about opening a new firsttime ETS shop or if you already have a shop and you've been thinking about opening additional shops then you need to know this because you might want to do it sooner rather than later okay so let's see what these changes are going to be and now she's gone off screen oh she's hiding in her tunnel okay so number one adding an enhanced identity check to the shop setup process now look you know privacy it's a thing however it's not going to be as much of a thing anymore cuz they're using a third party piece of software called Persona where you are going to be uploading a photo ID like a driver's license or passport and you're going to be taking a selfie so that they can compare you with that and prove that you are who you say you are now I don't personally have an issue with this um I think what they're trying to do here is basically they are trying to prevent Bad actors you know they're trying to pre prevent people from opening shops uh and then sort of Disappearing into the night and not sharing a true identity so this is their way for getting around that and they have a link here to Persona security standards so if that's something that you want to look more into you can do so now the second thing they're going to be introducing a fee okay to support enhanced security and verification okay um so there's going to be a fee to to some new shops I don't know what the sum is about but anyway they have that here some new shops they'll pay a onetime setup fee of $15 before they can open for business we'll clearly communicate if the fee applies during the setup process this non refundable upfront investment will help to ensure new shops are committed to running businesses on Etsy again this is their way of trying to weed out scammers and people who are resellers who just open a shop dump whole bunch of stuff really cheap sell it and then disappear so that is a good thing however it's going to cost money to open Etsy Shop one of the core fundamental things that has made Etsy so great um in the last started in 2006 I think so almost 20 years is you didn't have to pay anything to open a shop except for the listing fee right of your first product so that's 20 cents now you're going to have to pay this fee which is going to be a little bit of a barrier to entry for some people I mean it shouldn't be a massive deal $15 is not a huge amount of money and it's a one-off fee but it does mean that you want to be a little bit more committed to your Etsy shop before you decide to open one cuz once you spend that money you can't get it back again so that is something to take in account and why I recommend that you if you've been thinking about opening shop do it now even if you're not sure about what you want to call it cuz remember you can change the name you can change your shop name at least twice so even if you're not 100% sure what you want it to be you can open a shop now and you can um basically claim it now now you do actually have to have a product um available for sale to open your Etsy shop but I told you a way around that in my recent setup video which I did my Etsy basic setup video so I'm going to put a link to that up here and I'll also put a link to the description below below so watch that one next if you're not sure how to get past that hurdle I tell you exactly how to do that in that one okay so it's going to be a fee now where they say some shops I'm assuming what that might mean is that if you already have an account and a shop with Etsy and you want to open up another one it may be that they don't charge you that fee CU they already trust you but we don't know they haven't told us okay so number three exploring changes to payment schedules for new shops okay so these changes may affect how long new shops need to wait for their funds to become available we're making these updates to ensure sellers who are just getting started can fulfill their orders or provide refunds when needed new shops will see their payment schedule right in their shop manager after they complete onboarding so what that basically means is they're going to hold your money for a while before they give it to you um when you're a new shop so they do they've been doing this to people already uh they've been putting shops on hold heaps of people have experienced this um heaps of people opening new shops have experienced this where they've had their shop put on hold um and the reason again that they they've been doing that is to avoid these these Bad actors who come in take the money and then don't pay their bills or don't fulfill orders so what they're going to do is they're going to hold your money until you fulfill some orders and prove that you're a real shop and that you are genuine uh the downside of that of course is that you can't get your money and so what has been happening to a lot of people sort of ad hoc it sounds like it's going to happen to everybody from now on uh well not from now on from when they implement this that they're going to hold your funds for a period of time so that is something to be aware of as well if you are starting an Etsy shop and you're expecting to get your money out of there quickly don't uh they have again no information on how long they going to hold your money for is there is it a time period is it a how many sales we don't know um I'm assuming they're going to tell us that down the line but basically that's what they have to say now so we'll be introducing and testing out these changes over the few month next few months so if you do open a new shop in the next few months and you see this stuff pop up now you'll know why and what's happening uh so basically as I said if you've been thinking about opening a shop just do it now so that you can bypass the fee especially um and get your shop up and running cuz if you're watching this I'm a sh you're a genuine person uh I'm assuming you're a genuine handmade vintage or Supply seller who has nothing but the best of intentions uh when it comes to setting from an Etsy shop so that is who I'm speaking to if you're a reseller or a scammer go away and stop opening Etsy shops CU we're sick of seeing your rubbish on the site basically okay so I hope you now are informed about that and if you have any questions pop them in the comments below or any comments on this pop them in the comments below if you found this helpful or inlining give me a thumbs up and make sure to subscribe so you don't miss my future videos for everything Etsy I'm currently working through an Etsy Basics series for you newbies to the platform people who are setting up a shop for the first time I've got a couple of videos up already so have a look for my Etsy Basics playlist in fact I'll put that up on screen right here and you can get started and I also have a separate Etsy list where I have like 150 videos I've done on Etsy so go check that one out next thanks for watching I'll catch you in the next video bye for now and she's hiding in her tunnel hi Elis apparently that's her bed now whatever fxy boat