So I've been doing Whatnot streams on weekends for about a year now, mostly selling vintage toys and some thrift finds. Last month I made more from those two days than my actual day job. I'm seriously considering going full-time but I'm terrified. Anyone else made the leap? How did you know it was the right time? I've got about 6 months of savings and a supportive spouse, but still scared.
Whatnot
Weekend Whatnot streams are becoming a full-time business
Six months savings is more than most people have. I say go for it. Worst case you go back to a day job. What's the actual risk here?
I did it last year with books and it was a disaster for the first 3 months. Sales dropped way more than I expected once it wasn't a 'weekend treat' for my buyers. Just be prepared for that dip.
Not to be that guy but 'weekend whatnot streams' becoming 'full time business' sounds like the start of a very specific YouTube apology video. 'Hey guys so the IRS...'
Lol fair but also not helpful. OP have you looked at your actual margins? Like after fees, shipping supplies, and the cost of inventory? My weekend numbers looked great until I actually sat down and did the math.
The fact that you're scared is a good sign honestly. The people who jump in with zero fear are the ones who lose their shirts. What does your spouse actually think about the day job part though? Supportive of the hobby is different from supportive of quitting.
Also worth noting the platform can change the fee structure overnight and suddenly your whole business model is upside down. Not trying to be negative just saying diversify a little if you can.
I'm in a similar spot but with vinyl. The thing that scares me is that weekend streams are basically an event. People show up because it's Saturday and they're bored. Weekday streams get way less traffic. If you go full time you need to figure out how to make Tuesday at 2pm feel like an event too.
Just stream from a beach or something. Problem solved.
Everyone's giving advice but nobody's asked the obvious. Is your day job benefits? Health insurance through a spouse? Because that's the thing that kills a lot of these transitions, not the sales numbers.
Yeah the health insurance thing is what stopped me. COBRA was like $700 a month for my family. Made the whole idea not pencil out.
Also don't forget self employment tax. That one surprised me. You're paying both halves of social security and medicare. Adds up fast.
I don't know if OP will even come back to read all this but honestly the six months of savings plus a spouse with a job is a better setup than most. I'd say try it for three months with a hard line in the sand. If it's not working, you go back. No shame in that.