Tuesday, 31 May 2022

Uber vs. Lyft Driver: Which is Better?

The post Uber vs. Lyft Driver: Which is Better? appeared first on Millennial Money.

The time has come for you to make money as a rideshare driver. However, given the limited amount of rideshare platforms and conflicting reviews, you might feel confused when trying to decide which one to join.

As you probably know, Uber and Lyft are the world’s most popular ridesharing apps. While they’re pretty similar overall, there are several noteworthy differences.

To help guide your decision, this post dives into how they stack up.

For starters, let’s answer the most important question.

Which App Pays Drivers More?

It’s almost a tie. 

On average, Uber drivers earn $16.77 per hour versus $16.33 with Lyft. Average earnings per mile come to $0.81 for Uber and $0.75 for Lyft. And earnings per trip amount to $10.58 for Uber and $10.02 for Lyft.

One reason why Uber drivers typically earn a bit more is that Uber drivers tend to spend more time on the road. According to Gridwise, there’s a 4% difference in trips per hour between Uber and Lyft. So if your goal is to maximize driving time, Uber may be the better way to go.

That said, there are a lot of factors that affect how much you can earn on each platform, which we will explore next.

Key Factors That Influence Pay

Location

When it comes to pay, location is the most significant piece of the puzzle. According to Second Measure, Uber brings in the lion’s share of the U.S. rideshare market, generating 72% of spending.

But in certain areas of the country, Lyft is way more popular. As it turns out, riders are more likely to use Lyft on the West Coast or Midwest than in the Northeast. And in January 2021, Lyft took in 44% of rideshare sales in Phoenix and Detroit—its highest percentage among the 15 most populous U.S. cities.

With that in mind, make sure to pay attention to your local market instead of national averages. One easy way to do this is downloading both companies’ customer-facing apps and reviewing how many drivers are circling in your area.

Average Trip Cost 

Uber and Lyft are both still adjusting to the post-pandemic economy—and customers are feeling the pinch.

The main reason for this is because demand for rides plummeted during the peak of the pandemic. As a result, many drivers went on to find other work.

Due to ridesharing being a demand-driven, market-based model, fewer drivers on the road means more competition for rides—and higher prices for riders.

Second Measure found that Lyft’s average transaction value was $26 in August 2021, which was a whopping 47% year-over-year jump. In comparison, Uber’s average transaction value per ride was $20, reflecting a 20% increase from the previous year.

When prices spike, customers usually push back. Most rideshare customers use both apps and toggle between them to get lower pricing. And if prices get too far out of control, customers are more likely to rent cars, carpool, bike, or use public transportation to get around.

This impacts drivers because it means fewer passengers on the road and heavier competition with rideshare hustlers who are competing for pickups.

For this reason, it’s a good idea to monitor pricing fluctuations over time. If you’re having trouble finding customers in your area, Lyft or Uber’s pricing could be the cause.

While you can’t control how much the companies charge, you can decide where, when, and who you drive for.

Commissions

Unfortunately, pricing spikes don’t always lead to stronger profits for drivers because both companies take in high commissions.

While Uber drivers typically generate higher hourly pay, the company takes 25% of the total fare. In comparison, Lyft only takes 20% of the total fare.

In reality, Uber and Lyft commissions are often much higher, in the 30% to 40% range, after factoring in extra charges like airport fees and safety fees.

The key lesson here is that it isn’t just about how much you earn with Uber and Lyft. It’s also about how much you keep. Both companies collect a fair amount of money from commissions at the expense of their drivers.

On top of that, Uber and Lyft drivers also have to fork over a significant amount of expenses in gas and car maintenance. And while there are some discount options available (more on that below), these costs still fall squarely on drivers.

There are also taxes to consider. As an Uber or Lyft driver, you work as an independent contractor. This means you have to pay the government a hefty chunk of whatever you bring in. This includes federal taxes, payroll taxes, and state taxes, depending on where you live.

Winner: Uber 

With all of the above factors in mind, Uber’s 72% market share and higher hourly rate give it the earning potential edge for most drivers. So out of the two, I would pick Uber when considering total earnings averages.

Next, let’s take a looko at how the platforms compare when it’s time to collect your dough.

Cashing Out with Uber and Lyft

Both Uber and Lyft issue weekly payments by default, and it’s easy to link your checking account in both apps to receive payment. If you go with the weekly payment option, it won’t cost you anything to cash out. But you’ll have to wait at least a week for your money to land in your checking account.

Uber Instant Pay

To streamline payments, Uber has Instant Pay, which lets you cash out instantly up to five times per day. But there’s a catch.

Uber charges $0.50 each time you use Instant Pay. If you cash out multiple times throughout a shift, you could lose up to $2.50 daily in fees. That being the case, you’re much better off using the service just once per day to avoid fees.

Uber Debit Card

As a work-around, Uber provides a free, exclusive debit card for drivers through a partnership with GoBank. If you sign up, you can cash out for free up to five times daily. You also get 1% cash back on all purchases, 3% cash back at Exxon and Mobil stations, 10% cash back at Advance Auto, and a 15% discount on select services at Jiffy Lube. 

Lyft Express Pay

Lyft has a very similar payment system called Express Pay, which also charges a $0.50 fee for each transfer.

Lyft Direct Debit Card

To avoid that fee, you can apply for a Lyft Direct debit card and receive payments instantly after every ride without paying any fees.

Lyft Direct also issues cash back and savings rebates. You can earn 1% on gas and groceries, 2% back on gas at select locations, 4% back on dining, and 1% on a bonus rotating category every month.

Plus, the card doesn’t have any low balance or maintenance fees.

Winner: Uber

As you can see, the cash-out process is almost identical for both two companies. But between the two, Uber takes the cake because its debit card currently offers 3% cash back at Exxon and Mobil, versus 2% for gas at select locations with Lyft.

One % might not seem like a big difference, but trust me, it adds up—especially if you live in an area where gas is expensive (e.g., New York or Los Angeles).

Using Uber and Lyft’s debit cards should be a no-brainer for serious drivers. The services don’t cost anything, and you can receive your money instantly. Sign up and thank me later.

Comparing the Eligibility Requirements

Thanks to their user-friendly apps, Uber and Lyft make it super easy for new drivers to sign up.

The application process is straightforward for both companies. It’s just a matter of providing your name and contact information and entering the city where you want to drive.

However, you will need to pass a couple of basic eligibility requirements to drive. These rules are intended to keep both passengers, drivers, and the general public safe.

Driver Eligibility Requirements

Uber Driver Eligibility Requirements

  • Have a valid drivers license, insurance, inspection, and registration
  • Have at least one year of experience as a licensed driver or three years if you’re under 23 years old
  • Meet your city’s minimum age requirements 
  • Demonstrate proof of residency
  • Own a functioning smartphone

Lyft Driver Eligibility Requirements 

  • Be able to produce a valid driver’s license, insurance, inspection, and registration
  • Meet your city’s minimum age requirements
  • Demonstrate proof of residency
  • Own a functioning smartphone

Background checks

If you want to drive for Uber or Lyft, you’ll have to pass a background check through Checkr, a third-party verification service.

Most people should pass this with flying colors. But there are a few common disqualifying factors for Uber and Lyft that could make it difficult or impossible to secure work.

For example, you may be ineligible for Uber or Lyft if you’ve been convicted of a crime or if you’ve gotten a DUI. You may also be ineligible if you have a disqualifying theft or property damage offense in the last seven years.

After passing the background check, you’ll also have to maintain a clean driving record to continue driving for both platforms.

Vehicle Requirements 

You don’t need a brand-new car. But you will need a safe and somewhat modern vehicle to drive for both Uber and Lyft. You’re also more likely to get better tips if your ride looks nice, so that’s something to consider.

With this in mind, let’s take a closer look at the specific vehicle requirements for both platforms.

Lyft Vehicle Requirements 

  • No taxis or limousines
  • Must meet local city or state standards
  • Must have at least five seatbelts and a maximum of eight
  • Rentals must go through the Express Drive program
  • Accepts subcompact vehicles 

Uber Vehicle Requirements 

  • Must have at least four doors and transport a minimum of four passengers 
  • Must be 15 years old or newer 
  • Title cannot be salvaged, rebuilt, or reconstructed 
  • Rentals must come from an Uber-approved company
  • Can’t have cosmetic damage, missing pieces, taxi paint jobs, or commercial branding

Winner: It’s a Tie

As long as you have a clean record and a decent car, you shouldn’t have any trouble signing up for Uber or Lyft. Neither company will judge you on skill or experience—or even ask for any referrals for that matter.

Taking a step back, working with rideshare companies (and in the gig economy in general), is much different than applying to a traditional job.

There are usually lower barriers to entry which make these gigs ideal for those looking for a side hustle or who are just starting out in their careers.

Comparing the Navigation Maps

When driving for a rideshare service, the map you use means everything. It’s arguably the most important tool because your map is responsible for getting you from place to place as quickly as possible.

In light of this, let’s see how Uber and Lyft’s maps compare before you hit the road.

Uber Nav  

Uber Nav is a built-in, proprietary GPS navigation system that pulls data from third-party GPS services such as Google Maps, TomTom, and Bing Maps.

Uber Nav is solid overall and comes with some handy features like night mode and lane guidance. It’s not quite as advanced as Waze, but you can opt to use Waze or Google Maps if you prefer. To do this, simply select your default navigation app in settings.

The main issue with using a third-party map in the Uber app is that you have to toggle between the two programs. The last thing you want to be doing is fumbling around with your phone when you’re driving passengers.

Lyft Navigation

Lyft also has a default map, called Lyft Navigation, which runs on Google Maps.

My favorite thing about Lyft Navigation is that it’s intuitive and easy to understand. For example, the app senses when your vehicle is in motion and changes to a simpler map format to minimize distractions.

To access additional features when driving, simply select “More” in the menu below the map. For example, you can report an emergency or view the details on your last ride.

Lyft Navigation also supports Waze. But just like with Uber, you’ll have to switch navigation preferences in the Lyft app.

Winner: Lyft

Lyft Navigation wins because it’s easier to use than Uber Nav and keeps things simple by pulling its GPS data from Google Maps. As a result, Lyft Navigation makes it a little easier to focus on the road, and you can’t put a price tag on that.

Uber and Lyft Ride Modes 

The ride options you have on both platforms are numerous. Here’s a breakdown of each one.

Lyft Ride Modes 

Lyft 

Lyft is the standard driving option that can accommodate up to three riders at a time.

Lyft Shared

Lyft Shared lets customers share a car with other riders heading in the same direction. As a driver, this can mean longer trips and more tips due to numerous drop-off locations.

Wait & Save

Wait & Save lets customers order a ride and lock in a lower price during busy times. For drivers, the benefit is that you’ll know your schedule ahead of time. The downside is that you can potentially miss out on surge pricing.

Priority Pickup

Priority Pickup allows customers to request an expedited pickup. The service costs slightly more to customers, meaning more money for drivers.

Preferred 

Lyft Preferred gives riders an upgraded experience, with nicer cars, more legroom, and top-rated drivers. As a driver, you can earn more with Preferred rides, but you’ll need to meet the following conditions:

  • Your car must be model year 2015 or newer.
  • Your car must be impeccably clean.
  • You must have a driver rating of at least 4.9+ stars.
  • You must have completed over 300 trips.

Lyft Lux

Lyft Lux is the company’s luxury top-tier ride service that has three different levels. Here is how to qualify as a driver:

  • Lyft Lux: You must have a high-end sedan or SUV with four seats and a leather interior.
  • Lux Black: You must have a luxury car with a black exterior, leather interior, and at least four seats.
  • Lux Black XL: You must drive a luxury SUV with a black exterior, leather interior, and seating for up to six.

Uber Ride Modes 

UberX

UberX is Uber’s standard, private rideshare option and the most common ride model that drivers encounter.

Uber Pool 

Uber Pool lets customers share rides with other passengers. The benefit to passengers is that they can save a few bucks while drivers get longer trips and hopefully more tips.

Uber Comfort

Uber Comfort is an upgraded experience for customers, offering rides in newer cars with extra legroom. Drivers earn more money for each trip.

Here’s how to qualify:

  • You must complete at least 500 trips.
  • You must have a driver rating of at least 4.85.
  • Your car must be eligible and less than seven years old.

Uber Green

Uber Green provides rides in sustainable electric vehicles. If you drive an EV, you’ll likely automatically qualify for this drive mode.

The main financial benefit to drivers is that you’ll earn an extra $0.50 for each trip.

Uber Premium

Uber Premium offers rides with top-rated drivers in luxury vehicles. To qualify as a driver, you must complete over 20 trips and have an average rating of 4.6 or higher. Your vehicle also needs to be eligible. Check out the full list of eligible vehicles.

Uber Black

Uber Black (and Uber Black SUV) is the closest thing that Uber offers to a traditional high-end livery or black car service. Drivers can earn significantly more money per trip, but it’s not easy making the cut.

Here’s what it takes to qualify as a driver:

  • You must be insured to drive commercially.
  • You must meet all state- or local-level livery regulations.
  • You must maintain a driver rating of at least 4.85 stars.
  • You must drive a luxury car with leather seats.

UberXL 

UberXL is the ride mode for groups of up to six people. Drivers earn more per trip and need to drive either a minivan or large SUV that seats at least five passengers.

Uber WAV

Uber WAV is available in select markets and provides rides to people that need to bring along their wheelchair or motorized scooter.

Drivers must complete special training that focuses on helping passengers enter and exit their vehicles. Drivers are also expected to go the extra mile to assist passengers with walkers, canes, and other assistive devices.

Winner: Uber 

As you can see, Uber offers a wider variety of ride options for drivers and, therefore, more earning opportunities. For this reason, Uber wins the ride mode category.

Which Company Is Cooler to Work For?

Most drivers are worried about dollars and cents, and rightfully so. However, it’s worth considering how the cultures of each company compare.

You probably know that Uber has a long list of scandals under its belt, including sexual harassment and ethics claims. For example, Uber once infamously poached 50 employees from Carnegie Mellon’s robotics lab.

Lyft positions itself as a cooler alternative to Uber. Most notably, the company makes a point to be more welcoming and community-oriented than its rival.

The Winner: Lyft

Lyft’s reputation is cleaner than Uber’s is, and it has a more fun vibe to boot. Also, I’m all in for companies that take a stand and aren’t afraid to be outspoken about what they believe in.

To be fair, Uber is trying to clean up its act. And if you dig beneath the surface, you’ll find dirt on both companies. The best advice I can give is to do your research and see which company aligns with your values.

Learn More:

Food Delivery 

Uber and Lyft both make it easy to switch from driving passengers to making deliveries. 

Let’s take a closer look at how the services compare.

Lyft Delivery 

Lyft Delivery partners with businesses that require local delivery services.

Lyft drivers can make money picking up deliveries and dropping them off for customers. With Lyft, you can deliver a variety of items including food, retail items, prescriptions, and auto parts.

Lyft Delivery requests appear like passenger ride requests in the app. It will say “delivery” as the ride type and give you the option of whether you want to accept it. In addition, you’ll see the total amount that you’ll earn for the delivery before you accept it.

The only downside is that Lyft Delivery is only available in major cities, including Austin, Atlanta, Texas, Houston, Indianapolis, Florida, Orlando, San Francisco, Phoenix, San Diego, San Antonio, and Seattle.

Uber Eats

Uber Eats is Uber’s food delivery service, available in over 500 locations throughout the U.S. Here’s the full list of available locations.

Once you’re up and running, you can easily enable delivery requests in the Driver app menu. 

It’s worth noting that Uber Eats recently acquired Postmates, so we can expect to see many more delivery options beyond food in the near future.

Winner: Uber Eats

Uber Eats is the better choice for food deliveries because its accessible to millions of additional drivers than Lyft Delivery. I also expect the earning opportunities with Uber Eats to grow due to its Postmates acquisition.

Uber vs. Lyft Driver Benefits 

Rideshare services like Uber and Lyft don’t typically provide comprehensive benefits packages for drivers. But there are still some perks that you can access.

Here’s a look at how driver benefits measure up for both companies.

Bonuses 

Lyft Bonus Opportunities

Lyft occasionally offers real-time bonuses in the Driver app, depending on rider demand.

Scheduled bonuses may also appear in the Driver app at the beginning of the week, helping you plan your driving schedule accordingly.

Ride Streaks 

Ride Streaks are multiple-ride bonuses that you can rack up by accepting back-to-back rides during busy times, such as weekday commute hours and holidays.

Personal Power Zones

A Personal Power Zone is a type of single-ride bonus that may appear when there are more passengers than available drivers in a specific area. The map will display these zones when they are available.

Earnings Guarantees

Earnings Guarantees allow you to collect a set amount of money for completing several rides in a set amount of time. Earn less than the guaranteed rate, and Lyft covers the difference.

Ride Challenges

A Ride Challenge is a multiple-ride bonus for completing a set number of rides during a specific timeframe. For example, you might have to complete 10 rides between Monday and Friday to earn $25.

Uber Bonus Opportunities

Uber doesn’t contain as many in-app promotions as Lyft. But there are still a few that you can access from time to time.

Quest 

Quest lets you make extra money by completing a target amount of trips in a set period of time. For example, you might earn an extra $30 by completing 30 trips over a week.

Consecutive Trips 

Driving at busy times can also generate more rewards. With the Consecutive Trips plan, you can make extra money for completing a series of extra trips without canceling, going offline, or rejecting a trip.

Promotions

Lyft Promotions

Lyft currently has a promotion promising $3,000 if you give 170 rides in your first 30 days of service. This is an awesome incentive if you’re looking to hustle. Use the promo code LYFTMAX 3000.

You can also receive a bonus for referring a driver. This bonus depends on a few different factors, which Lyft outlines here.

Uber Promotions

Uber doesn’t have any new driver promotions at the time of writing. It does have a new driver referral promotion. Just like with Lyft, the actual referral bonus can vary.

Rewards 

Lyft Rewards

Lyft Rewards is a driver recognition program that provides kickbacks for superior service and dedication. Drivers get access to exclusive features and savings opportunities on things like car repairs, tax services, and roadside assistance.

Uber Pro

Uber Pro is a loyalty program for drivers and comes with benefits like discounts on fuel and car maintenance, priority pickups at airports, and roadside assistance.

In addition, qualifying Uber Pro drivers can receive 100% tuition coverage at Arizona State University (ASU) online. This benefit can also be transferred to an eligible family member. If you ask me, this is one of the coolest perks you can find in the gig economy.

Winner: Lyft

If your primary goal is making money, Lyft’s $3,000 new driver bonus is the best benefit—hands down. However, if you’re serious about taking online university courses, Uber’s ASU tuition coverage can far outweigh any money that you make by driving cars.

Frequently Asked Questions (FAQs)

Is Driving as a Side Hustle Worth It?

It largely depends on where and how much you’re driving. If you make this a full-time job, you will spend a lot of money on gas and on wear and tear.

After factoring that in, plus commission fees, you can quickly see why rideshare driving isn’t the most profitable or scalable side hustle. But it’s definitely legit, and it can be a fun way to earn some extra cash—and you can meet some incredible people along the way.

From my perspective, driving for Uber or Lyft is better as a part-time gig.

Does Driving for Uber or Lyft Affect Your Insurance Coverage?

Yes. Your auto insurance will most likely increase when driving for Uber or Lyft. Talk to your insurance company to figure out a plan that fits your needs and budget.

Remember: The more time you spend on the road, the greater the likelihood of getting into a fender bender or serious accident—especially in congested areas with a lot of traffic. That being the case, it pays to have adequate protection.

Does Uber Use Surge Pricing?

Uber uses surge pricing at various times. In general, Uber costs more for prime time service, during rush hour or on weekends or holidays. The good news is that drivers can earn much more money during these times.

Does Lyft Have a Driver Rating System?

Yes. Lyft always asks customers to rate the driver after a ride. If the customer doesn’t rate the driver, the app automatically issues a five-star rating.

The Bottom Line

Rideshare driving for both Uber and Lyft is a proven way to bring in some extra dough, where and when you want. In my opinion, both companies are worth driving for as side hustles.

Furthermore, there’s a high demand to recruit new drivers due to a massive driver shortage. At Uber, the issue is so bad that the company is launching a $250 million stimulus program to encourage more signups. Lyft is also covering rental car costs and giving $800 stimulus payments to drivers.

When you’re ready to drive, I suggest keeping both apps open on your phone so you can take the highest-paying rides that come your way. Pay attention to local pricing trends to maximize your earnings.

As one last piece of advice, it’s easy to go overboard comparing rideshare apps. By this point, you should be ready to pick a company and apply. You can always optimize your strategy later. And remember, there’s no rule that says you can’t work for both companies.

Whichever side hustle you choose, here’s to finding the one that helps you achieve your financial goals—and lets you have fun along the way!

The post Uber vs. Lyft Driver: Which is Better? appeared first on Millennial Money.



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Monday, 30 May 2022

Bitcoin IRA Review: How to Invest in Crypto and Gold (2022)

With both gold IRA companies and crypto exchanges being platforms for investing, you might not know that combining the two to get a healthy return...Read More

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Sunday, 29 May 2022

7 Best Remote HR Software of 2022 (Ranked and Reviewed)

When it comes to remote work, one of the most essential software for companies that want to succeed is a sound HR system. With HR...Read More

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Saturday, 28 May 2022

7 Best Conversational Intelligence Software (Ultimate Guide)

Artificial intelligence (AI) is constantly redefining how we interact with technology around us. In recent years, AI has revolutionized the customer service industry by giving...Read More

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How to Get Paid to Take Pictures

The post How to Get Paid to Take Pictures appeared first on Millennial Money.

Selling photos is no longer reserved for people with first-class equipment and expertise. In fact, chances are you have a camera in your pocket right now that you can use to make money (hint: your cell phone).

Of course, successful photography isn’t easy. It takes discipline and a very close eye for detail.

If you enjoy taking pictures and are looking to turn your hobby into a side hustle — or if you’re a professional photographer looking to expand your business — there are tons of ways to sell high-quality photos online.

In this post, I’ll cover the best options for both amateur and pro photographers to sell their work online. But first, let’s start with an overview of the most popular photography hubs.

Table of contents

How to Make Money Taking Pictures

Use photo communities

Take a look at almost any business website and you’ll most likely see pictures of random buildings, landscapes, customers, and objects (e.g., phones, computers, and office equipment). 

Many of these pictures come from ordinary photographers who know how to capture stock images and monetize them online. 

So if you have a vision for a particularly compelling image — and some basic Photoshop or photo-editing skills — you can start taking pictures and make money from stock photo websites. And best of all, you don’t even need a fancy camera. Instead, your Android device or iPhone should suffice.

With that in mind, here are the top stock photo sites and communities to explore.

Shutterstock

Shutterstock is a global photography community that pays a commission of between 25 and 38 cents every time someone downloads your work. The company also pays commissions for referring new contributors and customers.

iStock by Getty Images

iStock is similar to Shutterstock in that you can upload content and receive royalties when users download your work. 

The app pays 15% royalties for photos, 20% for videos, and 20% for illustrations. Exclusive contributors have the opportunity to earn 25% to 45%. 

Adobe Stock (formerly Fotolia)

Adobe Stock is one of the largest online photo contributor platforms. The company offers a royalty rate of 33% for photos and 35% for videos.  

Dreamstime

Dreamstime is a popular stock photo platform that pays a revenue share between 25% and 50% of royalties on submissions. However, you must earn at least $100 before you can cash out. And at that point, you’ll have to reach out to the company to request your payment. 

Foap

Foap is a crowdsourcing photography website that connects photographers with business-focused buyers.

Every time you sell a photo on Foap, you receive 50% of the commission. And every time you participate in a Foap Mission and make a sale, you receive $50 — which is pretty sweet, if you ask me. Payment is sent securely via PayPal, which gives you quick access to your cash.

EyeEm

EyeEm is a marketplace where you can sell images for commercial use and receive royalties for your work.

EyeEm has four payout levels, ranging from 25% to 55% in commission. For a complete payment breakdown and more information on how to apply, check this out.

Snapwire

Snapwire is a visual production platform that lets you sell photos and videos to brands and small businesses.

One cool feature is that Snapwire has a leveling system that rewards top-performing creators.

Snappr

Snappr is an easy-to-use photography app that lets customers book photography services at predetermined rates. 

Depending on the type of shoot, you can keep 65% to 80% of the booking price, and you don’t have to pay a subscription or membership fee, either.

Snappr is currently accepting applications from almost every corner of the globe. 

Freelance 

Unfortunately, taking website-ready stock images isn’t as easy as it sounds. 

In addition to making money selling images online, you can also get paid for more traditional photography services as a freelance photographer. 

Let’s take a closer look at what I mean by that. 

Organizations and individuals often hire freelance photographers for short-term gigs. For example, a local restaurant may need beautiful images of menu items to place on its new website. Similarly, a local boutique may want professional images of customers shopping at its store. You might also be able to land a gig with a local newspaper, taking pictures of community events and breaking news.

By working as a freelance photographer, you can get paid for these gigs and for your time editing the photos you take. And if it goes well, you will most likely get future opportunities with your clients. 

Check out the following sites to find freelance photography jobs.

Upwork 

Upwork is a top freelance marketplace where you can find all types of freelance photography gigs. From finding live events to shoot to taking product images for online catalogs, Upwork has hundreds of active photography opportunities at any given time.

You can also list your specific photo services for sale. For example, if you enjoy taking pictures of dogs, shoes, or cars, you can list this service on Upwork so that interested customers can find you.

When you land your first gig on the platform, Upwork charges a 20% commission for the first $500 in revenue, 10% for billings between $500.01 and $10,000, and 5% for anything after that.

Fiverr

Fiverr is a hugely popular side hustle hub that you’ve probably read about on my blog. Thousands of photographers offer services on Fiverr — and so can you.

The most popular categories I’m seeing on Fiverr are lifestyle and product photography. In other words, you can get paid to take pictures of other businesses’ products and of people using products (e.g., activewear, jewelry, swimwear, shoes, and so on).

Similar to Upwork, Fiverr takes a 20% commission on revenue. With this in mind, I recommend using Fiverr to find your first few gigs, get some experience, and build a name for yourself. 

But ideally, you can build up your own set of clients so that you don’t have to pay such hefty commissions.

Fiverr
Fiverr

Fiverr is one of the top platforms for finding freelance gigs for around the world. Sign up now for free!

Indeed

Indeed is a leading job search engine where you can find almost any type of job, including picture-taking gigs. 

Simply search for “photography” on the home page and you will see a wide range of legit remote and in-person gigs.

Take a look around and see what piques your interest. In most cases, you’ll need to have a portfolio or prior relevant experience to land a job on Indeed. But you never know what can come from connecting with the right company.

It’s also worth noting that Indeed doesn’t charge any commissions to you as a photographer, giving it a major edge over Upwork and Fiverr. Instead, Indeed charges the companies posting the job opportunities. 

As a result, companies on super-tight budgets are more likely to be weeded out, and it’s more competitive to find gigs. 

If you’re a complete newbie at photography, you could try cutting your teeth with more entry-level gigs on Fiverr and Upwork. Then you can bump up to Indeed once you build a solid portfolio. Just my two cents!

Sell Your Art

Let’s face it: Taking pictures of newborns and newlyweds isn’t for everyone. Never fear: If you would rather focus on the artistic side of photography and get paid to sell your original photos as artwork, there are still plenty of options at your disposal, which we’ll explore in this section. 

Etsy

Etsy is an online marketplace where you can set your own prices for your photos and sell them to customers. When you make a sale, Etsy takes a 5% commission, and you’ll also have to cover shipping and gift-wrapping costs. 

Some of the more popular photo categories include physical prints of nature and landscapes. You can either sell just the prints or include framing as well.

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eBay

eBay has a global base of 187 million users, making it an excellent choice if you’re looking to sell photos to global buyers. As an eBay photo seller, you can set a “Buy it Now” price for your work or leave your item up for auction and let the market determine the final selling price.  

Amazon 

Amazon won’t let you sell digital images. However, you can sell prints or photographs in a limited edition of 200 or less. 

The company has a few different selling plans to choose from. The Individual plan costs 99 cents per item sold, plus additional selling fees, while the Professional package charges $39.99 per month with additional selling fees. 

If you’re interested in using this platform to sell photos, here’s a complete breakdown of Amazon’s pricing for sellers. 

Start Your Own Blog or Website 

Do you really want to turn your photography into a sustainable business? If so, consider starting your own website and selling your work directly to customers. You can also use your own website as a hub for finding new gigs.

Keep in mind that you don’t need to be a coder to get a nice-looking website up. With just some basic computer skills, you can start a website from scratch using a service like GoDaddy, Weebly, or Squarespace. Those who are more tech-savvy should look into forming their own WordPress page. 

As you publish your content and list items, use social media channels like Instagram, Facebook, and YouTube to share your work and attract customers and clients. 

For example, if your craft is greeting cards, you could sell them directly on your site. On the other hand, if your passion is wedding photography, you’ll want to showcase your portfolio and availability on social media.     

It requires a bit more legwork and ongoing management. But selling directly to customers is the way to go — if for no other reason than you get to keep more of your revenue.

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Opportunities for Advanced Photographers 

Opportunities abound for highly experienced photographers with professional equipment.

Here are a few of the most common ways to make money as a professional photographer.

Events

An obvious way to make money as a professional photographer is to shoot events like weddings, graduation parties, and engagement announcements.

To land gigs, you can create local advertisements and post them on social channels and in local publications. As discussed, you can also use your own website to sell your services.

Sell a photography book

As a photography lover, you likely have thousands of images from over the years. See if you can identify a common theme and assemble your best photos into a photo book.  

Blurb is Amazon’s photo book self-publishing platform. Lulu is another cool option. 

Teach photography courses

The internet is full of amateurs who want to improve their photography skills — and you can make money teaching them your trade.

The most common way to teach photography online is to set up a website and attract people over social media. You can also organize a local photography workshop in your community.

Take portraits

Professional portraits are always in demand. For example, a quick scroll through LinkedIn will reveal that many of your connections have a professionally taken photo. 

Portraiture photography also includes taking yearbook photos of school children, album covers for musicians, family portraits, and capturing the beaming faces of local sports players and organization members.

Tips for Selling Photos Online

When it boils down to it, selling photos can be a great side hustle. But there are a few things to keep in mind to make sure you don’t get ripped off.

Don’t undersell yourself

When you are just starting out, it is common to list your photography services at a lower price than the competition. 

But remember, taking quality photos and editing them requires a ton of time. If you don’t price your services correctly, you might find yourself working for just a few bucks per hour. 

Watch out for taxes 

Unless you accept a full-time job as a photographer and elect to withdraw taxes from your paychecks, you’ll most likely collect money as an independent contractor. This means you’ll be a 1099 worker and will have to pay taxes accordingly — which usually involves making quarterly tax payments.

Watch out for theft 

Anytime you post images online, you run the risk of someone stealing your images. This is why so many professional photographers add watermarks to their images — and why you should, too.

Frequently Asked Questions

Can you make a lot of money with stock photography websites?

Stock photo websites can offer a decent way to make money online. But you probably aren’t going to make a fortune. That said, you won’t know how much you’re going to earn until you capture images and publish them on the internet. So what are you waiting for?

Can I get paid to travel and take pictures?

You absolutely can make money traveling and taking pictures, and there are a few ways you can accomplish this. 

One way is to be an influencer and sell your photos to the businesses that you feature. Of course, you’ll need to have a considerable following for anyone to be interested in paying for that kind of service.

Another option is to work for a photography company or be a freelance event photographer. This can lead to the most steady pay. That said, it’s a ton of work.

How much do photographers make?

As with any profession, it varies, depending on the quality and scope of your work. In general, stock photo sites pay only a few cents per photo. But if you sell stock photos, you can collect passive income and the extra cash can add up over time.

Working gigs and freelance jobs command higher pay. But you’ll have to hustle harder, dedicate more time, and pay for expensive equipment.

If you’re good enough, you should strongly consider starting a photography business and cutting out the middleman. You won’t pay any commissions and you can charge what you want for your services. 

Now back to the question at hand. According to Salary.com, the average annual salary for a U.S.-based photographer is around $66,000. 

The Bottom Line

As you can see, there are a ton of ways you can get paid to take and sell pictures online. Whether you’re a professional photographer or an amateur who’s just looking to sell photos online, this could be your next best side hustle. You just need to have a passion for photography (and making money, of course). 

Truth be told, this career will take a bit of practice at first and some trial and error. 

But trust me: If you stick with it, you’ll be making money before you know it — and having fun in the process. 

And at the end of the day, what’s better than that?

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Thursday, 26 May 2022

7 Best Ethereum Mining Software of 2022 (Ranked and Compared)

While crypto exchanges and trading platforms are the most common ways of increasing one’s crypto portfolio, mining can be a great alternative to simply buying...Read More

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Wednesday, 25 May 2022

7 Best Digital Adoption Platforms of 2022 (Ranked and Reviewed)

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Tuesday, 24 May 2022

How to Go Live on TikTok (Guide for 2022)

When it comes to social media marketing, there are many options out there. One of the newer and more popular options is TikTok. TikTok has...Read More

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How to Make Money with No Skills

The post How to Make Money with No Skills appeared first on Millennial Money.

Traditionally, unskilled labor is work that requires little or no formal education or training to complete.

While this was limiting in the past for job seekers, the advent of the internet and the gig economy changed the game. Now, it’s not only possible to find opportunities to earn extra income with unskilled labor—it’s easy.

To be clear, when we talk about skills, we’re talking about diplomas, certifications, and experience. If you don’t have any of those things yet, it doesn’t mean you’re any less capable than someone who does. It just means you haven’t checked some boxes society often expects.

And let’s be honest: Just because a job doesn’t require a degree doesn’t mean that it’s easy. If you want to make extra money with an “unskilled” side hustle or a full-time gig, you need to be ready to learn and put in the effort.

No matter your skill set, there’s no reason you can’t find a high-demand lane to turn into real money, and I’m here to help you do it.

With all this in mind, let’s take a look at 13 of the best ways to make money with no skills in 2022.

  1. Become a Virtual Assistant 
  2. Sign Up for Taskrabbit
  3. Use Paid Survey Sites
  4. Start a YouTube Channel
  5. Become a Freelance Writer
  6. Sell Stuff on eBay or Craigslist
  7. Start an Online Business
  8. Get Paid to Test Websites
  9. Teach English
  10. Earn Passive Income with Investments
  11. Sell Stuff on Etsy
  12. Start a Blog
  13. Learn and Master SEO

13 Ways to Make Money with No Skills

1. Become a Virtual Assistant 

A virtual assistant is a self-employed professional who provides digital assistance to a company or client. Virtual assistants can work from home or shared office spaces. Common responsibilities include data entry, managing schedules, and handling phone and email correspondence.

As a virtual assistant, you can choose your schedule, find your own clients, and make good money helping out with the day-to-day things that need to get done. It’s a great gig if you’re the type of person who is naturally organized and has a knack for making people’s lives easier.

To find virtual assistant opportunities, check out general freelance marketplaces like Fiverr and Upwork or sign up for more specific platforms like VANetworking.com.

Fiverr
Fiverr

Fiverr is one of the top platforms for finding freelance gigs for around the world. Sign up now for free!

2. Sign Up for Taskrabbit

If you have a tough time sitting in one place during the workday, you can earn money moving around and getting your hands dirty as a Taskrabbit Tasker.

Once you sign up, you can choose the tasks you want to complete and folks in need can book you to give them a hand.

When you finish a task, invoice your customer for your rate plus any expenses, and payments come through Taskrabbit’s secure platform. Play your cards right, and you’ll probably even earn some tips, too.

Taskers earn extra cash across more than 50 different tasking categories to choose from. If you’re a beginner, you can take on simple side gigs like grocery shopping and lawn mowing, and you can work your way up to more involved opportunities.

Taskrabbit is an awesome option for a part-time supplement to your 9 to 5. And the more you build up the rating on your profile, the more likely you’ll be to get enough jobs to start covering your bills.

TaskRabbit
TaskRabbit $25 to register in some cities

Find local jobs that fit your skills and schedule. With TaskRabbit, you have the freedom and support to be your own boss.

3. Use Paid Survey Sites

Arguably the easiest way to earn money online is to take online surveys. Anyone can do it, and you can easily earn extra money in your spare time—from the comfort of your own couch to boot.

That said, this gig also comes with some of the lowest earning potential. Surveys shouldn’t be viewed as a path to a full-time job. At best, they might be able to help you cover a bill or two each month.

But that doesn’t mean that they aren’t worth your time. With sites like Survey Junkie, you can find plenty of paid surveys to take while you’re watching TV or waiting in line. Other sites like Swagbucks offer surveys plus cash back for online shoppers and issue rewards through gift cards or PayPal cash.

Most survey sites also feature referral bonuses, so you can earn extra money just for bringing your friends along, too.

Survey Junkie
Survey Junkie FREE

Survey Junkie is the most reputable online survey company and an easy way to make some extra money in your free time.

4. Start a YouTube Channel

If you want to monetize your creativity, one of the best ways to get yourself out there is to start your own YouTube channel. Whether you want to make comedy videos, workout tutorials, or walkthroughs for video games, YouTube is the place to do it.

Of course, YouTube isn’t the quickest way to start earning real money. To make your channel attractive to potential ad partners, you need to build up your subscribers to prove that you’re reaching an engaged audience.

This is where your own unique skill set comes into play. There are millions of channels to compete with, and you need to find a way to command attention. 

Here are a few quick tips to keep in mind as you figure out how to do that:

  • Stick to what you know
  • Stay consistent 
  • Find your niche
  • Try to improve your content with every upload
  • Understand your target market

Once you build up a following, you can start making money through your channel via ads and sponsorships.

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5. Become a Freelance Writer

If you love to write, you might not realize how many opportunities there are to make money doing it. Every website needs content, and good writers are always in high demand.

Plus, the beauty of writing online is that no one cares what you scored on the SAT or whether you got an MFA. All that matters is that you can churn out clean, engaging copy and do so quickly.

To get started, you might need to be willing to take whatever jobs you can get to build up a professional writing portfolio. Once you have some quality examples, you can create profiles on Fiverr and Upwork, set your own rate, and see what’s out there.

If you love grammar but prefer to work on the back end, you can also use the same platforms to seek out proofreading and editing jobs.

6. Sell Stuff on eBay or Craigslist

A quick way to make money from home is to sell the stuff you already have. For example, if you have a closet full of lightly used clothes or a basement full of old LPs, you can get them listed on popular platforms like eBay and Craigslist.

Of course, it isn’t exactly a sustainable model to sell your stuff. Eventually, you’ll run out of product—and this is where you can start to get a little savvy.

Once you have a bit of startup cash, you can browse the same platforms for undervalued items. Craigslist, in particular, is known for low-cost or free items, which you can claim, spruce up a bit, and flip for a profit. You can also check out local tag sales and book fairs and try to find some gems.

If you go this route, you need to think about your overhead. Selling items online comes with packaging and shipping costs, so be sure to keep your overall costs in mind to ensure that you’re turning a profit.

7. Start an Online Business

If you’ve always wanted to become a small business owner, you’ll be happy to know that the internet has made it easier than ever to get a business off the ground.

Online businesses benefit from the lack of overhead associated with a brick-and-mortar establishment, and you can get yours going from the comfort of your own home.

For example, you can open an online store with an eCommerce platform like Shopify and sell anything from T-shirts to custom candles to used books.

Another option is dropshipping, which is the process of outsourcing costs like production, inventory, and shipping for your online store. With dropshipping, there’s less risk of getting stuck with a product you can’t sell. But you’ll also earn less per item sold.

To be sure, a small business is never a sure thing. But starting one comes with limitless earning potential. You just need the right idea and the right execution.

8. Get Paid to Test Websites

If you like the idea of influencing the decisions of big-name brands, you can get paid to test out websites with UserTesting.

Companies enlist the platform to test out new technologies or design ideas, and UserTesting’s network of users tries them out and provides feedback.

To get started, all you need to do is head to the website and apply. The application process is simple, and you need to complete a practice test to qualify.

Once you’re in, you can browse through available opportunities and answer screening questions to see if you’re a fit for each one.

From there, it’s as simple as running through the test and giving your in-depth, honest feedback. Testers earn between $4 and $10 for tests lasting up to 20 minutes, and you might even get a chance to participate in live tests, which can pay over $100 each.

9. Teach English

It might come as a surprise, but if you’re a native English speaker, you’re already qualified to teach the English language online and can earn good money doing it.

VIPKid is an online portal for English lessons and houses more than a million eager students. Its instructors earn between $14 and $22 per hour teaching from home and can work on their own time with no minimum hours requirement.

Plus, VIPKid has you covered when it comes to lesson planning with a fully built curriculum for you to teach from.

Once you set up an account, you can fill out an application and run through a brief demo lesson for the VIPKid team to review. If you make the cut, you’ll get the chance to teach alongside an experienced teacher and then move on to your own online classroom.

10. Earn Passive Income with Investments

If you’re looking for a passive income stream to grow the money that you already have, the best way to do it is to learn how to invest.

The first step is to open a brokerage account with a platform like Fidelity, Charles Schwab, or Robinhood. Most of these come with a ton of educational resources, so even if you’re completely new to investing, you can get your feet wet and learn the basics before you put any money on the line.

Of course, you can also use a robo-advisor to facilitate trades on your behalf.

The key to investing is to understand how the market works. For sustainable income, you want to develop a low-risk strategy that will help you grow your money over time.

It might not be the most exciting way to earn cash. But a properly diversified investment portfolio can pay off in a big way if you stick with it.

Robinhood
Robinhood

With Robinhood, you can start investing without any transaction fees.

11. Sell Stuff on Etsy

If you like to work with your hands, you can sell your homemade arts and craft items on Etsy. A natural hub for creators and quirky items, Etsy is the best place on the internet to show off and monetize your woodworking or jewelry-making skills.

Even if you don’t produce anything of your own, you can still use Etsy to sell vintage clothing or records. No matter what you’re selling, you’ll pay a fee for each listing and each transaction. But Etsy helps you out along the way with some helpful tips on becoming a successful seller.

To get your Etsy store going, don’t be shy about blasting your items on social media, which will lead more potential customers back to your homemade products.

12. Start a Blog

Blogging is one of the original online money-makers, and it’s still going strong. A carefully crafted blog that serves a particular niche is a valuable commodity and can allow you to contribute your unique voice to a subject that you’re passionate about.

Bloggers earn revenue through affiliate marketing, the process of partnering with brands for a cut of any purchases you’re able to facilitate with your content. Basically, once your blog has a proven following, you can sell ad space and earn each time someone clicks on an ad and buys something.

To get to that point, you need to drive traffic to your blog. While high-quality content is always the first step, it might not be enough.

Which brings us to my final selection: the magic of SEO.

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13. Learn and Master SEO

SEO, or search engine optimization, is the process of affecting the search engine ranking of a website through targeted keywords. Simply put, it’s how websites get seen.

If you can thoroughly learn SEO, you’ll become an indispensable asset to anyone trying to make a killing online. And fortunately, learning SEO is not the hardest thing in the world. (Mastering it is quite another!)

A great place to start is with an online course, which you can find on platforms like Udemy. Once you have the basic principles down, making money with SEO is as simple as staying on top of ever-changing search engine algorithms.

Whether you want to use SEO for your own content or serve as a consultant for other sites, it’s an invaluable skill that will serve you well for a long time.

Frequently Asked Questions (FAQs)

How Can I Make Money Fast with No Experience?

It depends on how much money and how fast we’re talking. My suggestion would be to start with Taskrabbit, which has plenty of opportunities for people with little experience. You’ll have plenty of gigs to choose from, and they pay pretty well.

If you’re just looking for a few extra bucks, try taking online surveys. You can sign up in seconds, take surveys from anywhere, and earn a payout relatively quickly.

What Is the Easiest Thing to Do to Make Money?

The answer is different for everyone. The easiest thing to do to make money is the thing that comes easiest to you.

If you’re naturally good with words, try online writing. If you’re patient and like working with kids, you might make a good online English teacher. The list goes on.

Rather than asking what the easiest path is, think about your strengths and how you can turn them into money.

How Can I Make $100 without a Job?

This depends on whether or not you have some cash on hand to work with. You can easily make $100 without a job through investments or a sign-up bonus for a credit card—but not without money to spend ahead of time.

If you’re unable to work, it can be a little tricky to consistently make this kind of money. Always be wary of scams promising free money. If it sounds too good to be true, it usually is.

The Bottom Line

As you can see, you don’t need special skills to make money.

I constantly get questions about making money online, and my first answer is never to go out and get a degree.

A lot of people have ditched traditional education and gone on to make something special—just look at the roots of companies like Amazon, Microsoft, and Apple.

While those are obviously extreme examples, the point stands: There’s no single way to become successful. With the right attitude, strategy, and work ethic, anybody can turn whatever they’re working on into sustainable income.

Your money is out there. Now it’s up to you to put in the hard work to find it. And I’ll be cheering you on every step of the way.

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Sunday, 22 May 2022

What is a VoIP Number and Do You Need One? 7 Key Benefits

With the increase in internet usage, VoIP numbers have become more popular. As you might know, VoIP stands for voice over internet protocol and is...Read More

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Saturday, 21 May 2022

How to Make Money on Etsy 

The post How to Make Money on Etsy  appeared first on Millennial Money.

I ran into a friend recently who showed me some drink coasters that she makes out of vintage tile squares. They’re pretty awesome.

Since I’m always thinking about making money and side hustles, I suggested she sell them on Etsy. She took my advice and now she’s considering starting a home-based side business. 

It can be that easy, folks.

If you can make cool things—like home decorations, T-shirts, and handmade jewelry—you can sell them in an Etsy store to make extra money.

If this sounds appealing to you, keep reading to learn everything you need to know about making money on Etsy.

Table of contents

What Is Etsy?

Etsy is an online e-commerce site and a top destination for selling handmade items and crafts. 

Some of the main categories on the site include home decor, jewelry, clothing, wedding gifts, kids’ supplies, and anniversary presents. You can find anything from earrings to wallets to stickers—and everything in between.

Etsy has been around since 2005. The company has sellers in 234 countries and is publicly traded, with a market capitalization hovering near $11 billion at the time of writing.

Recent data indicates Etsy has more than 7.5 million sellers. In 2021, the platform’s annual gross merchandise volume reached a whopping $13.5 billion, an increase from $10.3 million in 2010. Etsy’s annual revenue reached $2.3 billion in 2021.

Further data shows more than 61 million new and reactivated shoppers joined Etsy in 2020, indicating the platform is alive and thriving.

Interestingly, a whopping 13 million users joined during the busy holiday season, between October and December—a 76.7% increase compared to the same time in 2019. It’s safe to say the pandemic is an influencing factor, with people avoiding in-store shopping.

How Does Etsy Make Money?

Etsy charges sellers a nominal listing fee of $0.20 to post an item for sale.

When you sell an item, the company also charges a 5% transaction fee, along with a processing fee of 3% plus $0.25.

Further, Etsy pays to advertise items across the web using offsite ads. So, if you make a sale from one of those ads, you’ll pay a 15% offsite ad fee.

Top Features for Etsy Sellers 

Etsy offers sellers a ton of useful features. Here are a few of my favorite ones.

Mobile Access

Chances are you’re on the go throughout the day, bouncing around between various jobs or side hustles. The Sell on Etsy App lets you manage orders, respond to buyers, and edit listings from just about any location over an Android or iOS device.

The Sell on Etsy app currently has 4.2/5 stars in the Google Play Store and 4.3/5 in the App Store.

Custom Website Templates

The Etsy marketplace doesn’t give you complete control over the design of your own website, but the templates it provides are highly customizable.

For a few examples of what a store can look like, check out ChloeandCoStudio and DiosDesigns.

Take my word for it: You can have a lot of fun sprinkling your creative flair into your online store—and you get out what you put into it.

On-Site Messaging

Online sellers should know that customer service and communication are essential in delivering positive experiences to customers.

For example, suppose you sell T-shirts. A buyer might want to drill down into the components and learn where the cotton came from or the type of dye that you use. A growing number of buyers will only purchase clothes that are sourced responsibly. If a customer asks you a question and you don’t respond, they will likely go somewhere else.

To avoid that fate, use Etsy’s messaging feature to communicate directly with buyers. Messaging also comes in handy when customizing merchandise. You can even attach images and files to messages, making it easier to collaborate and produce personalized goods.

Community Hub

Selling can be difficult—even when you have a fantastic product. There are a ton of factors that go into influencing a sale, from pricing to branding to marketing and everything in between. 

Sometimes, a few small adjustments can make a big difference in sales. That being the case, it can help to talk with other sellers who use Etsy successfully to see if you can pick up some tips.

Etsy facilitates these types of conversations through its community hub. You can learn the latest trends, browse forums for advice, and even link up with sellers in your area to communicate and collaborate as a team.

Here are a few recent discussions that are trending in the community:

Browse through the forums and you’ll see that users offer some honest feedback. For example, in the forum where a user asks for advice about running a store, other sellers provide solid insights about pricing.

Seller Newsletter

If you don’t have time to browse through user forums, you can always catch up on the latest trends and insights through the Etsy seller newsletter.

Join Etsy’s email list and a steady stream of tips on improving your shop and making money will be sent to your inbox.

Advertising Tools 

Etsy offers several advertising and marketing tools to boost your brand and reach more customers.

For example, the company helps you create targeted posts for social media platforms like Facebook, Twitter, Pinterest, and Instagram.

You can also reach millions of shoppers both on and off the Etsy platform using Offside Ads and Etsy Ads.

As they say, you’ve got to spend money in order to make it. Making some shrewd advertising investments can go a long way to accelerating your store’s growth.

Etsy Standard vs. Etsy Plus 

If you’re thinking about opening a store on Etsy, the site gives you two options. There’s Etsy Standard, which is free, and Etsy Plus, which costs $10 per month.

Etsy Standard gives you everything you need to start a business. You can list products on Etsy and market them with sales and coupons. That said, when you use Etsy Standard, you will need to pay for extra services—like Etsy Shipping Labels and Etsy Ads.

Etsy Plus is a better option if you’re looking for more control over your business and are looking to scale your operation. For a small monthly fee, you’ll get a small monthly budget for listings and ads, as well as the ability to customize your store’s web address.

On top of that, Etsy Plus sends you restock requests when shoppers want sold-out items. Etsy Plus also comes with advanced customization options for your shop, and discounts on custom packaging and promotional items like business cards, signage, and boxes.

My Advice: Spring for Etsy Plus

You’re probably better off going with Etsy Plus. At just $10, it doesn’t cost all that much and you get a much more comprehensive experience with more tools and perks.

Any way you look at it, these tools should help you drive more sales, which should hopefully cover the cost of your subscription. Also, assuming your business is profitable, you should be able to write off the subscription as a legit business expense.

Either way, don’t fret too much about deciding between the two plans. You can always change your subscription after starting. The most important thing is to get up and running as quickly as you can.

Setting Up and Getting Started 

Signing up for Etsy only takes a few minutes and there isn’t any kind of approval process.

Go through the registration process and confirm your email to begin. You’ll also need to determine which type of plan you want.

Once you register with the site, sign in and start customizing your own Etsy shop. It’s that easy. 

Unlike some side hustles, you don’t need to pass a background check or have any prior experience. That said, it will help to have some technical and website experience to customize your template. It’s not necessary, but you will get up and running quicker.

Pro Tip: If you get stuck setting up your online store, think if you have any friends who are good with computers or websites. Offer to buy them some coffee or a beer for their advice.

How to Make Money on Etsy 

Now that you have a general idea of how the platform operates, let’s get down to the nitty-gritty: making money on Etsy.

While Etsy certainly makes it easier to start your online business, the fact of the matter is that you still have to put in work if you want to make it rain.

Here are some tips to keep in mind if you’re trying to build a successful Etsy startup operation.

Think of a Catchy Shop Name

Behind every successful Etsy shop is a killer name. That’s because your shop name is one of the first things that people will notice about your business.

Etsy offers a helpful guide for choosing the perfect name, and I suggest you give it a read. Remember that Etsy caters to creative types, so don’t be afraid to let your creative side out. And if you can work in a creative pun, that’s even better.

As an example, suppose I want to create a vintage baseball cap shop on Etsy. Let’s call it Grant Slam. Boom! With a unique product and a catchy name like that, the store is bound to attract potential customers.

You never know when a clever name can catch someone’s eye—and this goes for both new customers and potential new business partnerships. 

The Product Is What Matters

One of my favorite places to eat is a local food truck that serves the best fish tacos. It isn’t much to look at. But the food is cheap, delicious, and made with love. If you put their fish tacos next to a plate of $50 foie gras, I’d take the tacos every time.

The point is this: It doesn’t matter how you dress up a product on Etsy; the product will sell itself, or it won’t. When you list high-quality items that are interesting and affordable, you shouldn’t have a problem making money.

On the other hand, if your product is overpriced, of poor quality, or doesn’t look authentic, you will run into issues. Customers can tell when artists and craftspeople are passionate about their work and when they aren’t.

Know Your Audience 

Etsy caters to all types of audiences. For example, you’re just as likely to find women’s hair accessories as men’s beard accessories.

That said, don’t spend too much time worrying about whether your product is a good fit for a particular audience. Instead, spend more time thinking about whether your product makes sense on Etsy. If it is, your unique audience will find it.

Overall, Etsy is pretty lax about what you can offer, but they do have some limitations. Check out Etsy’s seller policy to learn more about that.

For example, you can’t sell metaphysical services like divination or spells on Etsy. Sorry, witches!

Offer Personalized Accessories

Etsy recently found 24% of shoppers are interested in buying something customized on its platform.

Take advantage of this by thinking about some ways that you can sell personalized accessories on Etsy. For example, you may want to make high-quality, handmade mugs or T-shirts with custom slogans or images on them.

Keep in mind that people typically go to Etsy to find things they can’t get in places like Target and Walmart. They want the experience of discovering a new artist or something different. If you can provide that experience, you’ll increase your chances of making money.

Use Stats for Your Etsy Shop

Like it or not, you’ll have to become familiar with analyzing website data and metrics if you want to be a successful online seller. This holds true whether you’re selling on Etsy, eBay, Amazon, or anywhere else.

The good news is that Etsy’s Stats can help you with that by indicating where your traffic is coming from, how many visitors you’re getting, and what’s the conversion rate of those visits, among other things.

Using that data, you can then optimize your shop to earn more money. For example, you may find that a particular Facebook post is high-converting, so you can focus more resources on scaling that traffic.

You may also find that one item is outselling all of your others by leaps and bounds. By looking at your data, you may be able to glean some insights as to why that’s the case. Then, you can use those insights to expand your offerings in that particular niche while scaling back on products that aren’t selling.

Consider Blogging

Blogging is a clever way to support your shop. It doesn’t cost anything other than your time and you can write about anything that ties in with your brand.

For example, suppose you make unique wall prints. You might start a blog that discusses your favorite contemporary artists and how they’ve influenced your style.

As you post more of this unique content, in theory, you’ll pick up more readers and boost your search engine rankings. Simply put, blogging can bring more organic traffic to your website, and you can sell more when that happens.

You can also consider pushing out similar content on Facebook, Instagram, and other social media platforms if that’s your thing. At the end of the day, the more content you publish, the wider net you’ll be casting for potential customers.

Learn More:

Alternatives to Etsy

Whether you find Etsy to be a slam dunk or not, it’s always a good idea to spread your business out over different platforms. With that in mind, here are a few other platforms to consider.

eBay 

eBay is a world-leading marketplace, serving 180 countries around the world. You can sell just about anything on this site via online auctions.

Members can create up to 250 listings each month for free on eBay. Anything over that, the company charges a $0.35 insertion fee across most categories. In addition, the company charges a selling fee which is typically 12.55% or less, plus a $0.30 transaction fee.

Amazon Handmade 

Amazon Handmade is Amazon’s version of Etsy. Using this platform, you’ll reach a global audience of artisan shoppers and sell products alongside artists from over 80 countries. 

Handmade uses an application and audit process to ensure that sellers only offer handcrafted goods.

Amazon takes a 15% referral fee for every sale that you make.

Bonanza

Bonanza is another online marketplace like Etsy. But the site focuses more on unique and interesting items than run-of-the-mill crafts. You’ll find everything from women’s and men’s fashion to home and garden supplies to collectibles and art.

Bonanza charges a base fee of just 3.5%. That said, rates increase a bit when you opt into the advertising plan. Depending on what you select, you might pay 9%, 13%, 19%, or 30%.

Shopify

Shopify is a global e-commerce provider that lets you set up an online store to sell products with plug-and-play simplicity.

Shopify offers a few different plans. The Shopify basic plan costs $29.99 per month, the standard plan is $79.99 per month, and the advanced plan is $299 per month.

Learn More:

Frequently Asked Questions (FAQs)

Can You Make Money with 3D Printables on Etsy?

Etsy is a great place to sell 3D printed objects. Believe it or not, one user made over $18,000 selling 3D printed objects on the site.

Of course, this requires owning a 3D printer, which typically costs between $200 and $500. More expensive models can command $1,500 or more.

The trick is to focus on fun, unique items that catch people’s eyes.

How to Create Digital Downloads for Etsy

Did you know that you can make money selling digital products like downloadable patterns, templates, and art on Etsy?

If you’re an artist looking to make some money, simply create a digital download and list it like any other physical product. The main difference is that you upload the product when a customer makes a purchase.

For a complete breakdown of this process, check out Etsy’s guide.

Does Etsy Make a Good Side Hustle?

Like any side hustle, it all depends on your level of commitment and what you hope to get out of the experience.

With the right approach, an Etsy business can make a great side hustle. It can also take on a life of its own and become a full-time job.

For the best results, know what you’re getting yourself into before you start and be prepared to scale if your Etsy products take off. Otherwise, you could wind up pulling all-nighters trying to fulfill orders while working a 9 to 5.

Learn more about side hustles here.

Can You Make Money on Etsy without Making Anything?

Etsy is primarily a marketplace for handmade and vintage items. If you’re the type of shopper who can find great products at great prices at tag sales, secondhand stores, and antique shops, you might be able to flip these items on Etsy for a profit.

Additionally, the site also sells supplies and kits. For example, people shop on Etsy for items like needlecraft patterns and craft supplies. This is one of the unique ways to make money selling on Etsy.

The Bottom Line

Any Etsy shop owner will tell you that running a small business is hard work, and success isn’t automatic. But once you get the hang of it, this can be a great way to make money online.

With the right approach, you can unlock passive income streams—which is one of the best personal finance moves you can make.

But remember that you need to create unique, high-quality products, which takes lots of time and effort. If your time is limited, and you still want to try it out, consider going in on an Etsy business with a friend to ease the upfront costs. As you begin scaling the operation, you can also hire someone part-time to manage your site.

Before getting started, I recommend checking out Etsy’s seller handbook to get the lay of the land.

Since you’ve made it this far, you’re no doubt interested in trying your hand at Etsy. So why not hop on over to the platform and begin setting up your storefront? You never know if that next product idea will change your entire financial trajectory. Happy selling!

The post How to Make Money on Etsy  appeared first on Millennial Money.



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May 20, 2022 at 10:30PM
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