I've been listening to the Side Hustle School podcast since the beginning and look forward to Chris' insight each morning. So when he announced he was publishing a book, I jumped at the chance for an advance copy so I could devour even more of his brilliant guidance. (The cover on the advance copy is different from the final version, so don't get confused by the photos.)
Like birthdays, marriages happen all the time. Which means you can treat weddings as a recurring fountain of business opportunities: wedding dresses and coats, jewelers, food caterers, venue providers, photographers and videographers, performers, flower shops, travel agencies, souvenir crafts, and a host of other ventures. Now imagine if you can form a network of these service providers so you can offer engaged couples a range of hassle-free wedding packages as a turnkey business idea. The process is certainly fun (and time-consuming), but as a side business idea, the pay can be pretty great.
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.
Virtual reality is a huge field of growth in the tech world, with potential applications in education, medicine, and, of course, entertainment. Everyone wants to explore new worlds, and VR headsets and goggles allow consumers to do exactly that. There are a various types of these products available, so it helps to be knowledgeable about the different brands and how they work.
Many families with kids, including single-parents, have very limited time resources, creating a demand for part-time child care providers (and a business idea opportunity for you). If you love kids and have some spare time, you can earn plenty of side income by looking after children while their parents are away. Just be sure to identify the particular age group you're comfortable caring for and you’re all set after any necessary certifications. Establishing a home-based daycare center capable of servicing six or more kids is also a lucrative way to really expand upon this business idea if you have the right environment for it.
According to a report published by the Minister of Agriculture and Agri-Food in Canada, the jam and preserve industry in the United States brings in over $1 billion annually. Most impressively, it’s grown steadily -- even through the Great Recession. The market for jams, jellies, and preserves is strong, growing, and has many opportunities for new start-ups.
You can sign up for free at Rentafriend to be someone else friend both part-time and full-time with pay between $20/hr – $50/hr. Yes, this sounds very strange from the outside looking in, but a lot of times you are helping someone get acquainted in a new town, meet a new group of friends, or simply have a cup of coffee with. Most importantly – friendship is always platonic (no touching).
Have you cracked the code for landing higher paying jobs at the drop of a hat? If you have a knack for helping your friends or co-workers navigate the process of finding their dream job, nailing an interview, negotiating a better salary or getting a raise at their current day job, other people would be willing to pay for your help too—making this a great side business idea that doesn't take too much time. Get started by sharing your advice on a personal blog and becoming a career coach on platforms like The Muse and Coach Me where there's already an existing audience of people looking to make a move in their careers. From there, keep your focus on helping people get real results, building case studies to support this side business idea, and eventually charging for the results you're delivering clients.
If you're operating your business as a sole proprietorship in the United States, you don't technically need an EIN for the business – you can file taxes for your business along with your personal taxes. However, you may want one if you want to open a bank account for your business, or if you don't want your Social Security number to appear on business documents.
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.
There’s a good chance you’ll underestimate how much time your activities will take and overlook additional tasks. Be organized and document your time, so that at the end of the day you’ll know exactly what you got accomplished and how long it took. If you find that the goals you set yourself are too aggressive, be flexible and adjust them to be more practical. For more tips, see these small business time management tips to increase productivity.
A photo editing business specializes in editing or retouching existing photos for clients. These services may range from simply cleaning up blemishes or lighting issues all the way to complex Photoshop work. Such a business is a major part of any community because of the constant need to have good-looking photos for publications, seasonal cards, social media profiles, and more.
16 Be a doula Jasmine Birtles, the founder of website moneymagpie.com, says you can make between £12 and £15 an hour or £250-£500 for a birth by being a doula – a birth partner and post-birth partner. "If you've had a baby and you want to help new mothers, do a short course with Britishdoulas.co.uk and work locally," she says. "You do what a grandmother or sister might do for a new mum, such as giving moral support, helping around the house, caring for the baby and supporting the whole family."
A test prep business often helps prepare customers for tests such as the SAT, ACT, GRE, MCAT, and LSAT. The business may also help customers prepare for other tests. You may instruct clients by themselves or as part of a group. Your business may be located in a separate office, or you may visit clients; alternately, you may conduct lessons entirely online via services such as Skype.
This list offers some great ideas and inspiration for folks looking to increase their income. There’s really no reason that anyone with some ambition, a good work ethic, and “people skills” can’t earn some extra money (or a full-time income) pursuing some of these self-employment ideas. I’ve done a little research, myself, to compile a list of small business ideas, and stumbled upon a few possibilities which you didn’t cover: