$90,000??!!

by Kate Preston



Bloomberg Businessweek, August 15-28, 2011


HANDICRAFT WEBSITE ETSY
Etsy.com, the online market for all things handmade, has 10 million items for sale.  Among them: a hand-knit coffee mug cozy ($13); a vintage Underwood typewriter modified to work as a computer keyboard ($799); a set of pickle forks ($60).  The oddball mix spawned Regretsy, a blog that commnets on eccentric Etsy finds.  The tagline: “Where DIY meets WTF,” Regretsy may be an indicator of Etsy’s success.  Since its founding in 2005, the site has helped turn the artisanal, locally source, bespoke-authentic movement into a viable business, at least for itself and a handful of its 800,000 vendors.  Sales hit $314 million in 2010, the first year Etsy was profitable.  Etsy freely acknowledges most of its vendors won’t make a living on the site.  Yokoo Gibraan, who knits scarves for Etsy ($50-$150) in her Atlanta living room, is one who does.  “I work around the clock” to make about $90,000 in annual sales, she says, “but knitting isn’t stressful – it’s the best job I ever had.” 
-Susan Berfield, Bloomberg Businessweek


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