Quitting 45k?

[Anonymous]

Former SAHM. Parlayed a volunteer job into a part time position then aimed higher and received a promotion over two years ago.

I am topped out at 45k/year, due to industry and pay compression. No one gets rich in my field. Long hours and high stress.

I’ve had some recent physical health setbacks and am dreaming of quitting and monetizing a hobby and selling through Etsy/WFH. Could supplement with substitute teaching at a local private preK with a goal of making what I make now.

Unrealistic, right? Any Etsy crafters out there?

[Anonymous]

Unless you have a really unique product it’s hard to make a dent on Etsy.

[Anonymous]

You should google and try to see how much people make off etsy. But ignore the stuff that people reported during Covid because those data points are no longer relevant. Reddit tends to be a good source for this info though just beware no one will tell you what products are generating their sales for fear of being imitated.

[Anonymous]

OP I have an upcoming zoom call with an Etsy and studio artist. Made this connection through a friend of a friend and we have similar styles.

I’d rather be home working on my art and been encouraged to sell it rather than give as gifts.

[Anonymous]

If you are currently unhappy with working long hours for minimal compensation, I don't think starting a job in which is try to sell things you made on a platform like Etsy will make you happier. You will find that consumers seriously undervalue the labor that goes into most handmade products (most consumers are too used to the dirt cheap prices of the same goods when made in factories paying next to nothing). Etsy and other platforms that make it easier to manage the financial aspects of such a business can also be exploitative -- search results often make it hard to break through the noise, any kind of custom order will put you working with demanding/unreasonable people (not everyone but all you need is one really PITA customer to ruin your month in this kind of job). And at the end of the day, you will almost certainly make less than you expected or wanted, plus be stuck figuring out stuff like payroll taxes (assuming you make enough to have to pay them, it's a bit of a catch-22).

But if you now make 45k and are okay going to like 25k, I'd look into quitting and moving into a contract position that is part-time, allows you to WFH all or part of the time, and has flexibility with hours. Either at your current employer or in the same field.

[Anonymous]

ETSY is really hard to make money on as most people buy cheap china stuff, repackage it and sell it at a low cost. They are doing volume.

[Anonymous]

OP, have you considered looking for a different job, parlaying your recent job skills to something in the say, $70K pay level? Depending on your physical setbacks, and the rest of your HHI of course.

[Anonymous]

Are you making 45K part time or FT? It makes a difference. Because 45 PT is not bad if you aren't the main earner in your family. I was a SAHM for about 10 years and recently went back to work, began doing admin work and worked up to project management. Making 82K at a non-profit, but if I was the main earner in my family that would be rough to live on in the DC area. So I guess it's all relative. Good luck with whatever you decide!