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You may have heard of Fiverr, a marketplace where you can sell your services for $5. But is it really a good way to make money? The answer is not so straightforward. In fact, like any other side gig, it depends on how much time you’re willing to invest and what services you offer. It does, however, have its pros and cons. Let’s take a look at whether Fiverr is worth your time or not.
What is Fiverr?
Fiverr is an online marketplace where people can sell their skills. It was launched in 2010 and is currently headquartered in Chicago, Illinois. It’s a marketplace where you can sell nearly any service that someone might want. Services range from website design, marketing, SEO, graphic design, voiceovers, and more. Users are split into two categories: “Givers” who offer their services, and “Buyers” who buy those services.
How Much Money Can You Make on Fiverr?
There are two factors that determine how much you make on Fiverr: the amount you sell a service for and how often you sell that service. Let’s look at each in more detail. Price – The price you set for your services will determine how much you’ll make. The less you charge, the more you’ll sell, but the less you’ll make in the long run. You can make anywhere from $1 to $100 per sale, depending on the service, with most services falling in the $5 to $15 range. There are some sellers who charge more than $100 for their services, but they are in the minority. Sell Frequency – The more often you sell your services on Fiverr, the more you’ll make in the long run. You don’t want to flood the market, though, or you’ll end up with a drop in sales. You’ll have to find the sweet spot where you’re selling a few times a week, but not too often.
The Cons of Using Fiverr
There are some cons to selling on Fiverr, especially if you’re looking to make a full-time living. Here’s what to keep in mind. Lack of security – Like any gig economy job, there is no security. You can get fired at any time without notice. There are also no benefits, such as health insurance, 401k, or paid time off. Potential for low-quality work – Some buyers on Fiverr may want the lowest price regardless of quality. Others may want to pay a high price but expect high quality. You’ll have to navigate both these types of customers. It’s a lot of work to manage those different expectations. Customers are fickle – Like any online business, there is no guarantee that you’ll get repeat customers. You could get thousands of one-time sales and make a lot of money in a month, but there is no promise that these customers will buy from you again.
The Pros of Using Fiverr
There are some major pros to selling services on Fiverr, such as: Flexible Schedule – You don’t have to work a set schedule at all if you don’t want to. You can set your own hours and choose when you want to take time off. If you have other types of jobs or commitments, you can work when you have the time to do so. No Experience Necessary – You don’t need any special skills or training to sell services on Fiverr. Some sellers are experts, but others are beginners just like you. Tons of Competition – Like any online marketplace, there are hundreds of thousands of sellers on Fiverr. You won’t be the only one trying to make money with your services.
Final Words: Should You Use Fiverr to Make Money?
Fiverr is a great way to make some extra cash, but it’s not to be confused with a full-time income. While you can make thousands in a month, you can’t do so consistently. You’ll have to deal with a lot of competition, and you can’t expect to make a living off a few sales a week. If you have a few hours to kill each week and want to make a little bit of extra cash, Fiverr is a great option. However, if you’re looking to make a full-time living, you may want to look into other options.