Since December I’ve been running the Gifts That Keep On Giving Campaign. The idea is simple: gather used gift cards, turn them into guitar picks then sell the picks to benefit music education. The gift card donation portion was a wild success yielding nearly 6,000 cards. That equates to roughly 30,000 guitar picks! Having had such a large amount, I started selling the picks in mid-Feb, two weeks earlier than I had initially planned. There was a lot of excitement when orders came in from all over the US. That excitement subsided a little once I saw the fees associated with each transaction:
- 1 5-pack costs $2 plus $1 shipping totally $3
- The $3 becomes $2.34 after $.64 USPS postage.
- The $2.34 becomes $2.07 after Etsy’s $.20 listing fee and 3.5% cut.
- The $2.07 becomes $1.68 after PayPal’s $.30 transaction fee and 2.9% cut.
That’s 44% of each sale going to fees and postage. I don’t mind promoting the project, making the picks, buying the envelopes or going to the post office because I love the goal of helping music education. But to see only 56% of the money reaching that goal doesn’t settle well with me.
So friends, fans, family and Internet strangers, I throw this question to you.
What can I do without raising costs too much?
Could I host the store on my Squarespace-based site?
Any other ideas?
I’d love your input.