If you keep your money hidden in the attic or earning close to nothing in a savings account, you might want to consider putting it to better use through smarter investing as your side business idea. Sure, there are plenty dangers to look out for, but most personal finance experts will advise you to start learning about the stock market if you want to grow your wealth, and to avoid jumping too heavily into trends like Bitcoin and other cryptocurrencies without proper understanding.
A fun little way to personalize things around the home and office, magnets are also practical tools for attaching notes to the fridge and highlighting your to-do list at work. You can create your own magnets from scratch or you can purchase magnets from a wholesale vendor online. It just depends on how much time and money you want to put into this side business idea.
While the barriers to entry for a retail shop can be very high, one way to keep costs down and limit your time investment while you keep your full-time job, is to set up a weekend popup shop as a side business idea. More of whatever it is you’re selling—donuts, clothing, antique baseball cards, or anything else—will stay in your pockets instead of going to pay for operating expenses such as rent or utilities by choosing to pursue retail as a side business idea with a short-term rental. This guide from Shopify will give you a step-by-step process for getting your popup shop off the ground.
If you’re offering a service, do you need to be licensed and registered for it? Research the product or service you’re going to offer to determine exactly what you’ll need to do according to state law. If you’re going to help people with their taxes, for example, you’ll not only need to be licensed, registered, and bonded in some states, but you’ll also need to carry errors and omissions insurance.
Does your job offer you the flexibility and adequate revenue to help you fund your startup? If so, you might be set. While you can certainly supplement your income by combining your day job with one of these side businesses, consider thinking of your full time employment as a means to an end, and focusing any extra income after living expenses into your startup.
If you already have a sizable Instagram following, or a knack for getting followers, you could be approached by major brands, gear companies, and other relevant businesses with products and services your audience may be interested in. Take 25-year-old Liz Eswein for example, who charges a fee to brands for taking the photos she posts on her account @NewYorkCity, and an additional $1 per like on top of that. Not bad, considering most of her photos get well over 20,000 likes.
If you are always trying out new hairstyles and enjoy working with hair, then this could be the perfect side business idea for you. Start with a specific tutorial, such as a how-to on making stylish braids. You can upload videos to your website or store demonstrating each type of braid, and produce a guide that gives step-by-step instructions for each.
Those who have experience in HR and a thorough understanding of Applicant Tracking Systems (ATS) will do well. You will need a certain amount of people skills to attract clients, but the results will matter far more than how friendly and personable you are. If 90% of your clients find a job in their field after paying you a visit, these numbers will speak for themselves.
Suzanne lives in Texas and has been a full-time freelance writer for 20 years. She’s written for numerous business and financial publications, both online and in traditional print media. She also owns her own small business and has a passion to help others achieve their dreams of financial independence. Her goal is to eventually work from a remote island that is equipped with Wi-Fi.
Know someone who rents out property to others? Perhaps they could use a hand managing their property. If so, you can make a decent amount of money on this side business idea with relatively little work on your part (most of the time). It'll take some hustling and the willingness to be flexible with your schedule, as you'll be responsible for collecting rent checks, managing repairs and improvements, and simply being on call for emergencies. But, a property manager is essential for most real estate investors that have a large enough portfolio, so there's definitely merit to this business idea.
Self-publishing is thriving, eBooks and online guides are slowly but steadily making a lot of online authors richer every day and, to the surprise of a number of cynics, people are still reading! So here’s another golden nugget for you – write a book or a long-form guide and sell it online. Whether you have a great personal story to tell, a valuable, educational piece cooking up in your head or have accumulated a wealth of resources or knowledge on a particular topic that could prove invaluable to others, you can start making money off it as soon as it gets online. If you publish your eBook through Amazon Kindle Publishing and continuously promote it on your blog or website, the sales will keep on trickling in.
Naturally, it helps if you already have an online audience you can tap for listening to your regular podcast (like I did), but that hasn't stopped thousands of people from building successful side business ideas into lucrative podcasts—including Alex Blumberg, founder of Gimlet Media who teaches how to use storytelling and launch a podcast. You can also check out this class from podcaster and entrepreneur, Lewis Howes, about how to make money podcasting as a side business idea, which regularly broadcasts for free on CreativeLive.
Use a platform like ACX to create and sell audiobooks on platforms like Audible and iTunes. If you have a great idea for a non-fiction audiobook where you can teach a difficult skill like stock trading, foreign currency investing, accounting, online marketing or others, you can easily create a five-figure monthly income with the right volume of audiobooks.
If you want to broaden your services and earn more, you can opt to make the entire house look neat and clean with this side business idea. House cleaning services cover carpets, floors, lawns, garages, windows, walls, and roofs, requiring a whole range of cleaning tools. You can hire maids and janitors to do the actual cleaning while you handle sales, administrative and customer service tasks. Or, you can start small by actually getting your hands dirty as a contractor, learning on the job before launching your own cleaning operations with the help of cleaning business management tools like Swept. Beyond that, I'd recommend checking out Cleaning Zoom's ultimate guide to starting a cleaning business if you plan on taking this business idea seriously.
If you can attract a regular audience for your podcast, there’s good money to be made from sponsorships and other digital product offerings. At my own day job, we regularly pay $250 to $500 for 30-second advertisements on relevant business podcasts. Check out this episode of the Conscious Millionaire Podcast for an interview with John Lee Dumas, the host of Entrepreneur on Fire, for more tips on how to make money podcasting, including selling online courses, eBooks, and coaching sessions.
Did you know you can rent your room or house out at Airbnb? They have been around since 2008 and millions of people have been renting out their rooms or entire homes to travelers from all over the world. If you do this right, you may be able to cover your entire mortgage! If you’re going to be gone for a month or two, you may as well allow your space to make money while you’re gone.
As for the questions an Amazon recruiter might ask, Bezos himself offered guidance for hiring standards 20 years ago in his 1998 letter to shareholders. He encouraged decision makers to think about three guiding questions: "Will you admire this person? Will this person raise the average level of effectiveness of the group they're entering? Along what dimension might this person be a superstar?"
Treat your business finances like your personal finances. You should be creating and sticking to a budget for both, allowing you to make your money work best for you. It's also important during this time to sock away as much extra money in savings as you can, to prepare for the transition from your full-time corporate job, to working for yourself. This is probably the biggest mistake I made, as I quit work in a huffy with only $3k in savings.
As long as there is still the written word, there will always be editors. Freelance editing and proofreading not only pays a decent hourly wage, it also gives you the chance to read about potentially interesting topics too. What's more, pursuing freelance writing & editing as a business idea can afford you a lifestyle that lets you travel the world as a digital nomad. You can find lots of job postings from companies and individuals in need of writing, proofreading, and editing services on Upwork, which makes this a high-demand side business idea.
Good side hustles, like freelance writing, allow you to make money by trading your time. Since you’re trading time for money, you’re capped at how much you can make. Still, if you’re looking to hit, say an extra $1000 a month, freelance writing is a side hustle that can allow you to predict how much you can make. You can have a contract set up with a client or two that’ll allow you to know exactly how much money you’ll be able to make. The secret to succeeding as a freelancer writer is to charge based on the value you’ll bring. Most freelance writers undercharge which results in fast burnout with little pay off.
Have a talent for crafting or creating other handmade goods? From bracelets to phone cases, rings, furniture, and more, Etsy is one of the world's largest independent marketplaces that’s perfect for anyone who is creative and willing to sell their handmade creations. As long as you have the space, this can make for one of the best home business ideas that can be started as a side hustle with a very limited investment. Consider these 5 steps to starting an Etsy store, from Handmadeology. Then, after you're able to build your brand and grow your own audience, you can start an eCommerce site of your own and retain a larger portion of the revenue from your product sales—making this a very lucrative potential business idea if you're able to find an audience that loves your products.
That’s my plan. No kids, no spouse, parents deceased. I’ll never be able to retire. On PSLF, but forgiveness not approved until 120th payment. Many are not being forgiven now. I take courses to stay in deferment. FedLoan bases payment on gross; not net. How does that make any sense?! After bills I can’t afford the payment. I have 3 grad degrees. Was supposed to be a psychologist. APA & NCE won’t accept my 15yo degrees for the national exam. So I teach at a CC. Over 180,000 in debt now and it grows monthly.
An Airbnb is a great way to add some extra income, especially if you have unused rooms or lots of space in your house. You will have guests staying in your home, so you should be comfortable talking and interacting with guests. Some homeowners, who travel often, will also rent out their homes when they are out of town. This allows them to receive income and have someone watching their home when they’re not around.
I live in Phoenix where it will hover at 116°F during the summer. I also see a guy selling snow cones and water for a premium. I asked him how business was recently – he smiled and said “Business is gooooooood”. Buy a case of water at Costco for $0.12 a bottle and resell them for $2 wherever it is HOT. Who wouldn’t pay $2 for ice-cold water during the dog days of summer?
There’s a big difference between drinking beer and learning how to brew it. But, with patience and a bit of persistence, brewing it yourself could result in something special over time as you perfect your craft. Pick up a starter kit, like one from Mr. Beer and get creative about finding a winning flavor combination. Start small by setting up a booth at a local street fair and networking with local restaurant owners. Be sure to brush up on local regulations and proper licensing before you start selling.
In many states, completing a driver’s education program is a requirement for getting a new driver's license or a learner's permit. Every state has different driver’s education requirements. Instead of paying a fine for a traffic infraction, many states offer the alternative of attending traffic school and the courts may also mandate that a person must attend a driver’s education program. Moreover, attending a defensive driving program may also entitle a driver to have lower vehicle insurance premiums.
iSecretShop is real mystery shopping. They have a web site and app. Don’t get discouraged with the first few. It’s based on a points system. The more points you get, the better the shops. You have to take a few little ones and work your way up. Another one is Jancyn. I’ve shopped apartment communities, car dealerships, local yogurt/ice cream shops, restaurants, etc.