Amid an uncertain economy, many unemployed individuals are turning to the gig economy to fill their empty pockets. Many have resorted to the likes DoorDash and Grubhub, delivering food to customers amid store and restaurant closures nationwide. However, for those less comfortable venturing out during the pandemic — or frankly those without a car — here’s five money-making trends to hop on from the comfort of your home.
Upwork has been connecting freelancers with gig work since 2015. The website is quick and simple to use and allows freelancer workers to create a profile, indicate what type of work they can provide, and then simply bid on projects. Freelancers offer companies proposals, in which they’ll indicate why they want to work on the project, how much they want to be paid, and how long it will take them to complete the project. Unfortunately, Upwork does take a cut from freelancer pay which ranges between 20% and 5%, depending on how much business you do with a client. The options are endless, and Upwork has opportunities for writers, graphic designers, coders, and everything in between.
For anyone with a craft soul, Etsy is the place to go. The website offers a platform for handy craftsmen to sell their creations and for vintage collectors to market their products. Making an account and setting up a virtual store is free, but listing a product comes at a small fee. Amid COVID-19, many individuals have turned to Etsy to sell hand-sewn masks. Home decor, clothing, and handmade jewelry are among other popular items on the website. Aside from the listing fee, Etsy does charge a 5% transaction fee and a 3% plus $0.25 processing fee. Additionally, there’s a 15% fee if one of your products sells thanks to one of the many ads that Etsy advertises.
For the shopaholic, selling clothing on Poshmark is a great way to get rid of unnecessary clutter. The social marketplace platform allows users to buy or sell used and new clothing and accessories. For many students, in particular, Poshmark has been the ideal platform for a small side hustle, and to make a little extra cash for outings. Selling clothing on Poshmark can easily turn into a part-time job; the platform is super easy to use. Sellers simply take a photo of the product, write a description, set a price, and post. Unfortunately, like other e-commerce websites, Poshmark does take a $2.95 flat fee from any sale under $15 and 20% from anything above.
This notorious e-commerce giant is a great platform for auctioning off old memorabilia, gadgets, and everything in between. Since the 1990s, eBay has accumulated a following in over 20 countries, offering a platform for individuals to sell toys, technology, and even cars. Sellers can post up to 50 items to sell per month, and most additional listings will cost you $0.35. As the seller, you can set the price, but buyers can offer a counter-bid. eBay does incorporate some additional fees, including a final value fee of typically 10% or lower, upgrade fees, and additional costs for listings in real estate or motor vehicle categories. While decluttering your house in quarantine, eBay is the perfect place to list those unwanted gadgets or collectibles.
This lesser-known Seattle-based platform is an excellent online marketplace for those looking to sell out of the ordinary collectibles. From designer watches to adult coloring books, Bonanza has it all, and it’s easy to use. Bonanza allows you to sync listings from the likes of eBay and Amazon. Like other platforms, listing an item is free. Once you sell the product, Bonanza charges you 3.5% of the combined sale and shipping price for any item under $500. Sell anything above that threshold and you’ll pay 3.5% on the initial $500 and 1.5% for anything over that amount.
During the ongoing quarantine and work from home routine, there’s no better time to get started on your e-commerce business. Getting started is simple, easy, and some extra spending money is necessary amid this period of economic uncertainty.