How Much Did I Make Selling Graphic Designs In 2023?

It’s a new year and time to do my annual business review.  If you’re not familiar with my story I semi-retired to 20 hours a week at my main job in 2017 after reaching financial independence years before.  Since then much of my newly freed time has been spent on what started as a fun side hustle and has turned into a nice little business of doing graphic design. 

Here’s my business earnings history by year:

• 2017 – $1,136
• 2018 – $2,751
• 2019 – $7,143
• 2020 – $14,932
• 2021 – $20,743
• 2022 – $19,642

As you can see I was more than doubling my revenue each year from 2017 – 2020, but that kind of growth is really hard to maintain.  Then in 2022 I had my first year of earnings decline, which was unwelcome but also expected with continued inflation.

So how much did I make in 2023?

 

A New Threat

Well, 2023 showed that inflation is not the primary threat to my graphic design business.  It’s true that things cost a good deal more than even a year ago and my business mostly relies on people buying novelty and boutique items such as custom coffee mugs and hoodies.  So I’d expect some inflationary impact.  But the bigger impact came from a two letter acronym that’s seemingly now the center of our discussions about, well, everything. 

AI.

Artificial intelligence has dropped a bomb on the graphic design and visual arts industry and the ramifications have only begun to show.  Computers can now generate graphics from a simple prompt, and one doesn’t necessarily have to have design skills to create marketable images. 

How has this affected my business? 

My main source of income is royalties from selling my designs on POD (print on demand) sites such as Redbubble and Zazzle.  Those sites have now been inundated with AI-derived designs.  In response, numerous sites have started charging a monthly fee to have an account – something that was free before.  Others have reduced the royalty percentage they pay out, and one has started charging the artist for shipping, a cost they used to cover themselves. 

All of these additional charges have eaten into my earnings, substantially.  That’s life, tons of businesses out there face unexpected increases in operating costs and mine is no different.  So like others I have to adjust. 

How bad was the hit in 2023? 

 

2023

In 2022 my business made $18,268.  That’s a 7% decline from 2022.  I’m dreading that earnings call with my investors….  I have some splainin’ to do!  

As I’ve showed in posts from previous years, here’s a chart of my monthly earnings in 2023:

 

Unlike previous years where December was my biggest month, May and August were the biggest months in 2023.  That’s because in each of those months I had someone place very large bulk orders for merchandise with my designs.  In one case someone ordered 3000 stickers!  Those kind of orders pay out big royalties. 

Also notice I changed the wording in the chart from “revenue” which I used in previous years to “earnings”.  These numbers are my profit after I deducted all of the new business fees I’m now dealing with.  My gross revenue was well over $20,000. 

As I showed in my last post I spent $39,283 total in 2023, so my business covered about 47% of my living expenses.  Not bad for a creative endeavor.

 

Art Mogul

To date I have made $84,212 in my graphic arts business.  

Here’s a chart of my total earnings by month since I started the business.

 

In my continual quest to practice gratitude in life I am very happy and proud at what I’ve accomplished.  After all, I’m a guy who’s main career was spent in a pretty technical field, and that career got me to financial independence (along with frugality and smart living of course). 

So to make $84k in a creative endeavor – even if it’s been over 7 years – that makes me happy. 

Gary from Financial Fives left a comment on my last post and it resonated with me.  He said:

Isn’t it such a great feeling when you create something, put it out into the world, and people validate your creativity by happily paying for that product/service? I learned that as a child, and that gave me the business bug. It really helps you feel like you’re providing value and making your mark in the world.

He’s right.  And I used to think my business wasn’t as impactful or important to the world as my main job, but no longer.  I create logos for people’s businesses, which is really meaningful to them.  And my outdoor designs inspire people to get out and be active in nature.  In a country with an obesity rate of 44% and rising I feel comfortable knowing I’m doing my part.

 

Perspective

In the end I can’t complain.  At all.  The Federal poverty line for individuals in 2023 was $14,580.   I made more than that doing something that would have been impossible before our modern connected world. 

I also made enough to fully pay for a new car since there are two models sold in the U.S. for under $18,000.

I recently started expanding my business by adding original art pieces and designs that are not logos for clients or meant to go on t-shirts and coffee mugs.  I mentioned these in my last TGIF Friday post. 

I’ve made about $50 in total on these new pieces so far.  Not exactly life changing. 

But if you would have told me 2 years ago while my business was humming along that I’d be able to sell even one print or canvas of an original art piece – something that’s not a joke about cycling or rock climbing – I would have laughed.

“It’s good work, if you can get it”. – the BoDeans

I never bought in to the perception that folks in the FIRE community are against work.  That viewpoint couldn’t be more wrong.  Most are, however, against soul-sucking jobs that rob us of our health, time, and sanity. 

Creating art for money is good work indeed, but I cannot call what I do in my business “work”.  It’s stimulating, rewarding, fun, and exciting.  I just wish all jobs could be like that.