Review: Fiverr- A Good Extra Cash Source?
Recently I started offering light freelancing opportunities on a website called Fiverr (you can buy stuff from me here) which offers thousands of different custom items and services for $5 a pop. Is it worth the time though? I’ll answer that, the moneymaking potential, and more in this review today.
- Really Easy To Start. I made my first product, or “gig” in minutes, and I got my first sale the next day.
- No promotion Necessary. As long as you label it well, it will sell. In my first 20 days I’ve averaged about one sale per day without any form of promotion, netting me a profit of about $75.
- Easy payout with Paypal. No having to input your SSN or anything.
- No fee to join, unlike other freelance sites like Elance which nickel-and-dime you.
- Upsells. You don’t have to sell everything for $5. After your first 10 sales go through, and you’ve been on the site 30 days, you’re automatically upgraded to level 1. This means you can upsell as much as you want. You can for example sell the first 200 words of an article for $5, and another $5 for each additional hundred words.
- No minimum payout. You can withdraw $4 or $4000 without issue
- It’s all about the rating. If you don’t maintain 100% feedback your impressions and your buy rate decrease, according to what I’ve heard.
- Very restrictive on what you can say. They monitor for giving out contact info to buyers, overusing a keyword in a description, and such and it can be a nuisance. You can’t directly give out your contact info without risking a ban.
- 14 Day pay period. This isn’t horrible considering some places have one or two month wait times with minimum required payouts, but you have to wait until 14 days after close of sale to withdraw funds.
- 20% cut. This isn’t horrible considering fiverr sends you all the business, but they take a 20% cut on all sales. For a $5 sell that’s an entire dollar that goes to them. As long as you remember to do what you consider a $4 value’s worth of work, it’s not a huge deal though.
Fiverr is a great quick way to make some extra cash, but it’s not something you’re going to quit your job to do. With some time you may be able to pay for a gadget with Fiverr money, but for most people it won’t pay for your car. In terms of making money online, this is very easy, and I can vouch that Fiverr is reputable with payouts. Check me out on Fiverr.com here.