A recent Bentley University study found that over 66% of millennials want to start their own businesses. Yet, as of 2013, only 3.6% of businesses in the U.S. were owned by those under the age of 30. Clearly, there’s a large disparity between the number of young people wanting to be their own bosses, and those who are actually managing to pull it off. Many young people are naturally entrepreneurial, but without a steady flow of income it could prove challenging to jump into starting a new venture. There’s where side hustles come in.
It’s one thing to make a few extra bucks on the side so you can go out to a nice dinner or buy a nice pair of shoes, but if you want to walk away as quickly as possible you’re going to need to up your side hustle game. You need to move beyond simply trading your hours for a limited amount of money, and transition to thinking about side hustling as a way to become your own boss and create financial freedom.
Great list! I just started my financial website (still not live yet), and one of my side hustles is working for a company that hires teachers to teach English via Skype. 10-15 hours per week, making $10 a lesson. It’s great, since my mortgage was so cheap, that side hustle alone pays it off each month! Other side hustles include: adjunct professor for community colleges and a freelance writer.
A life coach is there to speak with clients about any issues the clients have, help clients set motivating goals for themselves, navigate through important personal and professional decisions, and much more. Though most life coaches help coach clients in various aspects in their lives, it is possible to specialize your coaching to an area about which you are really passionate. A few examples of specialized life coaches include health coaches, special needs life coaches, relationship coaches, career coaches, and executive coaches.
To be clear, providing care for the elderly often requires a broader set of credentials (as it should) so this business idea isn't one most people can get started with this weekend. These credentials may include licenses, training certificates, business permits, and tax forms depending on which state you wish to operate, the level of care you intend to provide, and whether you plan on running a formal business or just hiring yourself out as an independent worker as a side business idea. If you’re already giving unpaid care to an elderly relative or friend, you may want to review Medicaid provisions for some compensation. In all cases, you need genuine affection for the elderly, a lot of common sense, and good knowledge of first aid, CPR, and elderly care basics to excel with this side business idea.
According to a Gallup poll, more than 43 percent of employed Americans spend some time working remotely. This share is likely to increase over time in part because of the ways in which it can save workers and employers money. Remote job site FlexJobs estimates that working from home can save workers as much as $4,668, while Quartz calculates that telecommuters can save $2,524 a year.
That prob helps, yeah :) Also if you hustle hard during holidays and weekends and rush hours, at least from what I’ve read… I’ve never tried it as I’m always glued to my online hustles, but if you could actually do both at the same time that would be even better! Haha… Just bring a laptop and wifi hotspot with you while you’re waiting around town :)
Does your 9 to 5 job pay fluctuate? If you don’t have a predictable income, you might need more money some months and a little less others. If this sounds like you, you might choose to take up side gigs. These could be gigs that you create on Fiverr or the occasional freelance project on Upwork. You might design some wedding invitations for a client one week and help someone build their social media following the next. The type of projects you work on could vary drastically. But if you love variety and switching things up, this side hustle could be perfect for you.
Don’t freak out about not being able to code just yet – you can build and sell websites on Flippa without any coding experience. Flippa is a marketplace for buying and selling web businesses, apps and domain names. It’s a godsend for savvy entrepreneurs that are always brimming with ideas for new hustles. In essence, this is how it works: you brainstorm a startup idea, secure a catchy domain name, use a WordPress theme to build it out and make it look appealing, and then sell it in an auction on Flippa. Alec Larson has been doing this for some time, and claims to be making $1,000 to $1,500 on Flippa every month. There’s no clever secret behind this – you come up with compelling ideas, flesh them out and sell them to eager entrepreneurs. The essential upfront investment is minimal: starting a website will cost you $2.45 a month, including a free domain name registration, plus your time and effort to put the pieces together. Certainly worth a try.
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.
We all wear clothes (at least some of the time). Which, of course, makes the business idea of cleaning soiled laundry an obvious hit. In fact, the self-service laundromat industry in the US is worth more than $3 billion, with many related businesses such as a mobile app laundry service, a real rolling mobile laundry service, and home laundry pickup & delivery services springing up each year. Here’s one way you can cash in on the trend as a side business idea.
A work from home job can be any position that does not require you to be in an office. There a wide range of work from home jobs. Some companies offer opportunities for employees in traditional roles to work remotely for all or some of their workweek. These jobs often use technology for meetings, assignments, and collaboration. This practice is called telecommuting. Other work from home opportunities may include jobs such as customer service representatives for which companies will hire remote workers, or part-time virtual assistants to manage work which does not require a physical presence in the office.
It's encouraging, then, to learn that 44 million Americans are taking steps to improve their financial picture by working a side hustle. A side hustle is a gig that allows you to make money in addition to your primary job. Popular side hustles today include waiting tables, bartending, dog walking, retail, telemarketing, selling products online, and consulting, but in reality, your side hustle can be pretty much anything you want it to be. In fact, if you have a particular talent or hobby that could help you start earning money, it pays to keep working at it. You never know what good ideas might take off, and if you're like the typical American, you can no doubt use the extra cash.
Additionally, business owners who start this type of business are in good company. Not only do many people have successful children’s book businesses today, but one of the most successful children’s authors in modern history began by self-publishing her work. Beatrix Potter funded the first runs of both Peter Rabbit and The Tailor of Gloucester. The two stories are popular even to this day.
It’s funny that you put baking of all things on this list. I’d often considered the idea of baking cookies and things and selling them on Facebook garage sale sites and things like that – until I made Christmas cookies last week and found out how difficult it is. Let’s just say it gave me a healthy appreciate for the people who make all the tasty desserts I regularly enjoy!
If you start babysitting when you’re younger and gain experience, you can charge more. Parents love to be able to go out to dinner and know that they’re leaving their kids with someone trustworthy. Start small by offering to babysit your friends or neighbors’ children and then make sure you advertise your services on Facebook as well. Do a great job, and your business can grow simply by word of mouth.
Mechanical Turk operates much like TaskRabbit and GigWalk: it’s a corner online where Amazon gathers tasks to be done, people willing to do them, and people willing to pay for them. On Mechanical Turk, you get to do the oddest jobs you can imagine as an online business idea, made possible by a parallel online universe that runs on hits, visits, surveys, reviews, pins, likes, CPCs, reads, and other metrics. But don’t get too ambitious. The small sums being paid out to human Mechanical Turk users rarely add up to anything seriously substantial, even if you invest most of your spare time into it. It's a better opportunity for internationally-based people with internet access and lower costs of living than in the US. Here’s one person’s account of his former life as a Mechanical Turk talking through how he got started with this business idea and what the experience was really like.
Cycling is a popular sport in the United States, with people regularly using bikes for fun, exercise, and transportation. In 2015 alone, 17.4 million bikes were sold in the country. As bikes are used, they occasionally break down -- and most people aren’t well-versed in repairing bicycles. A bike repair business fixes and refurbishes bikes for customers when their rides break down.
The remote workforce is increasing, and if it’s something you’re interested in, you have more than enough options for whatever suits you and your career path. These are just the top-paying remote jobs — Check out job search sites to find the remote job that works for you. After all, who wouldn’t want to be more productive and cost effective, less stressed, and more engaged overall? The average American will spend one-third of their lives at work. It’s time to make your job work for you!
Now for the completely strange and unexpected: Jon Colgan, founder and CEO of fintech startup CellBreaker, used his background in sustainability to help finance his business. “I also studied sustainability in school and became enamored of using worms to compost. As a third revenue source, I sell worms,” he says. “I discovered that happy worm populations double every 90 days. My worms are always happy. So, I started selling worms and vermicompost on Craigslist and by word-of-mouth.”
Stop driving for Uber and wasting your time. I’ve talked with too many people who tell me that they want to be career Uber drivers, despite that fact that Uber is clearly trying to replace all drivers with robots. Also, I see too many people trying to side hustle on Fiverr and websites where the only way they can compete is on price – essentially offering a commodity product. It is very hard to get ahead in life if you offer a commodity product at a low price.
This is probably the side hustle I have the most fun doing. I have been buying and selling both VW Campers and mopeds since I was in college. While I sell a lot more mopeds that VW campers, but when I find a good camper deal I don’t hesitate. I love VW Westfalia Campers from the 1970’s and 1980’s and have owned 2 over the past 10 years. They have gone up a ton in value over that time, but you can still find deals on them locally.
Many small businesses in your community could use a very basic web presence to tell others about their business. Quite often, these businesses don’t have a large budget for such things. That’s where you come in – get a bunch of clients from the local community by beating the pavement, create sites for them, and maintain them for a small fee. Get enough businesses and you have a nice side business of your own that doesn’t require a ton of maintenance time.
As for other tips, all I can say is “a penny saved is a penny earned”. If you are running out of ideas to make money, start saving. Some quick “low hanging fruit” tips to save some quick cash include – switch to MetroPCS or Boost for cellphone (I only pay $20/month), switch auto insurance to Insurance Panda ($25/month), and start using GasBuddy (saves me like $100/month at least. I drive a lot).