Get a tax ID number. If you're starting your side business in the US, you need to apply for an Employer Identification Number (EIN) for your business from the IRS, even if you don't plan on having any employees. You typically need a separate tax ID for your business in most countries if you want to keep your side business legal and above-board.
As you can see, you don't have to spend thousands of dollars to start a side business. The 11 ideas above only scratch the surface of the types of side business you can start to make extra money. Plus, who knows? You might even be able to turn your side hustle into a full-time career today. Start small with an equally small investment, and see where it takes you!
If you have a knack for connecting with people and the willingness to take on some risk, a commission-based freelance sales role could be a great side business idea for you. Many startups seek part-time and commission-only salespeople, especially when they're just getting started, which means you'll often be able to make this a home based business idea. Develop your sales strategies, become an inside sales rep and perfect your cold calling skills on the side in your free time for nothing but commission, negotiate a little equity and you could profit big time if you're pitching a solid product and the startup succeeds. Start your sales education with the acclaimed books, Secrets of a Master Closer and To Sell is Human by famed bestselling author Daniel Pink and you'll be well on your way to getting this side business idea off the ground.
Using your skills for profit is a common trend with all of the best side business ideas. If you're an expert at something, there's likely an audience of people online who would be willing to pay to become an expert in your field—just like you. If you want to take your skills and turn them into an online course that teaches others how to get the same results you've achieved in your life, career, or business, start with How to Create an Awesome Online Course on Udemy, where instructor Miguel Hernandez covers how he makes over $90,000/yr teaching online. You'll learn from more than 8 hours of video instruction.
This kind of goes with Amazon, eBay and Craigslist selling but dumpster diving is a good source of products to sell. I have found a few dumpsters in my area that regularly throw out valuable items I sell on one of the previously mentioned sites. My first week I found a large box of brand new toner bottles that cost $2400 on Amazon. I sold them for nearly $18oo individually over the couse of a month. Printing companies are good sources. I have gotten multiple printers, some working and some not but these are not $100 Walmart printers so even broken they can sell for enough to make it worth it or you can part it out too.
Top side hustles have one big thing in common: there’s a high demand for it. A virtual assistant is an assistant who works in a remote location. They can help with tasks such as administration, social media, bookkeeping and more. There’s been a growing demand for virtual assistants from business owners who need help on various projects. As a virtual assistant you can specialize in countless areas. In the past, I’ve hired virtual assistants for social media and customer service. And there are countless other businesses around the world who rely on virtual assistants to grow and maintain their brands.
An acting classes business provides group or one-on-one classes in acting for adults or children. As the owner of an acting classes business, you’ll provide training, coaching and support to those who are considering getting into the acting business or those already in the business who would like to improve their chances of landing a role. Most business owners in this field will want to find a niche. For instance, you might work with children, or with a career-oriented adult audience interested in stage acting, film, commercials, voice-over work or other areas of specialization.
It’s a complete game changer. Making money via side businesses (or side hustles) gave me the confidence to quit my job and go out on my own four years ago. Having a few thousand dollars a month coming in on autopilot gave me the freedom to charge rich rates as a growth consultant, as I knew I’d be okay if they said no (for the record: they said yes and it worked well for both parties).
That's why I'm a huge advocate of always starting a side business while working full-time, so that you can test your way into your new product or service, get feedback, validate the business idea, and start generating income before you quit your job. If you can master the art of scaling a side business idea while keeping your day job, you'll have no trouble succeeding once you're fully self-employed.
Med Trans, Inc. provides medical transcription services to doctors' offices and healthcare facilities across the US We recruit and train contractors to work from home either full-time or part-time as ... Work at home and at your own pace; You make your own schedule; Ability to work day or night depending on your preference; High demand in several industries for transcribers; Ability to spend more time with ...
You can have your own store up in only a few minutes at eBay. To start, you must have a seller account, must be verified through PayPal. You are even able to give a detailed description of your store with a catchy design to attract customers. I have a friend who will buy all of the unused bras at a last chance type of store and resell them for a profit at her eBay store. Last I heard, she was doing $1,000/month in her first couple of months.
Think about websites like Udemy, which gives teachers a platform to teach online courses. A business like this allows people to share their expertise with students while making a living—all without the need for a physical location, or even a set schedule. Or maybe you prefer to approach things a little more creatively. If you’re crafty, you might consider a custom phone case business, which helps you lets customers add personal flair to their phones.
Hello and thank you for the great article. I have been reading where you can use side hustles to contribute to self-managed retirement plans (aka Self 401k). Many of these gigs seem cash based – anyone out there contributing to their own Self 401k/Sep/Easy accounts? If so, what documentation is required to support the connections between the side hustle and the contributions to the self managed retirement plan?
It’s not the sort of side business idea that’s covered in glory, but someone needs to make sure all the numbers add up at the end of the year. Every business and most individuals need someone with the domain expertise to help prepare tax returns, especially time or resource-strapped small business owners. Majo Jacinto in his Udemy course provides an in-depth foundational understanding of how to prepare tax returns (and stay current with ever-changing laws) that'll certify you with tax prep skills in as little as a few hours of training and practice. Then once tax season rolls around you'll be able to charge an average of $229 per return as a freelance tax preparer with this side business idea, according to CNBC.
With nearly 100,000 different custom extensions both free and paid available in Google Chrome's marketplace, there's a huge opportunity for creating a useful extension for people to use while browsing the web as a low effort business idea. One of my favorite Chrome extensions, Yet Another Mail Merge, which enables you to send bulk customized emails from within Gmail, gives you 50 free credits to send emails and gives you the chance to upgrade to a paid account to unlock more sending—a great upsell for the people who are getting value from the extension. Even free Chrome extensions like SVRF Tabs by SVRF, which replaces your new tab with stunning VR and 360º images, have the potential to bring in new users and eventually drive revenue for the startup's core business. Another fun example from a friend of mine, Kathleen Garvin, is Hide images with NOPE, a Chrome extension that hides images on the web pages you're browsing—to help eliminate distractions and keep you from seeing images (like those of certain politicians) that you may want to hide. This side business idea is particularly great because it also allows you to showcase your development skills—which can be put to work as an adjacent side business idea on a freelance basis alongside the Chrome extensions you launch.
I surprisingly get a lot of people asking to detail their car. I never intend to make a business of it, but I love doing it to my cars and people ask me to do it to theirs. All it takes is a cheap orbital buffer (mines a used craftsman) and a shop vac. I normally get easily $100 for a basic wash/wax/vac, or $200 to remove scratches and polish then wax the car.