Did you know that 35% of people have some form of regular side hustle to earn extra income? Most use that extra money to fill in gaps between jobs, to pay unexpected expenses, even cover hobbies and interests. If you’re already a location independent worker, you may find that it’s a bit easier to supplement your income with a side gig. Your flexibility and skills are a big asset here.
You may also find that getting a side hustle becomes a necessity from time to time. With no guarantee of a paycheck if you are freelance, you have to keep money flowing in. The key is finding something that works with your schedule, and is lucrative enough to shore up your income when you need it. As you start exploring your options, consider the following eight side hustles.
With consulting, you take your existing skills and use them to help other businesses. There’s a great market for this as so many businesses need help, but aren’t able to bring on full-time staff. So no wonder that consulting is a $250 billion industry.
If you are skilled at accounting, human resources, web design, IT, social media, or a variety of other disciplines offer your services to small businesses locally or on the web. Previously, I wrote all about becoming a high paid consultant.
2. Running an ecommerce store
E-commerce is a low-cost, low-barrier way of starting your own business. You can set up shop online, and sell products from all over the world. Thanks to dropshipping and other schemes like Amazon FBA, you don’t even have to purchase stock or manage inventory/logistics. Even better, you set up your online store quickly and easily with the help of Shopify marketing experts.
3. Teaching and tutoring online
There’s a growing market for online education. Students and their parents need help from skilled tutors. Others are seeking alternatives to formal education when it comes to developing skills they need to get ahead. If you already have the in-demand expertise, and an ability to break concepts down so they are easy to master, teaching and/or tutoring online might be for you. You can:
- Hold live webinars and ecourses.
- Create video tutorials and publish them on your website
- Create and sell interactive training materials for corps.
- Publish e-courses online on platforms like SkillShare or Udemy.
4. Flipping websites
Not every entrepreneur wants to build a website from scratch. Others prefer to take existing sites, and turn them into profitable ventures. You can get in on this by flipping websites on the side. There are loads of websites that no longer serve their owner’s interests, or have been abandoned altogether. As a website flipper, you find these pages, purchase them, and sell them at a profit.
5. Affiliate marketing
If you have an active blog or website, affiliate marketing is a natural next step towards building a passive income stream. With just a little effort, you can market the products and services you like to others on your website. Every time one of your audience members clicks a link and makes a purchase, you get a commission.
6. Writing an ebook or creating other digital assets
Sometimes, it’s best to add a product to your services. While offering additional services can certainly be lucrative, it’s also labor intensive. With digital products you create something once, then sell it multiple times. You can share your expertise with an eBook, provide your target customers with templates, even use your own photographs to sell as stock images.
7. Real estate
Real estate is both the most popular and most lucrative side gig that can pay up to $90/per hour. This could be due to the fact that you have so many options for entering this niche. You can take a course and obtain your real estate license, and work selling properties on the side. You can pool your money with other investors to purchase and sell properties. You can even enter the short term rental market thanks to Airbnb and other online rental companies.
8. Working as a voice tester
An increasing number of apps and in home devices rely on voice recognition. Developers need people to test these products before they are released to the public. That’s what a voice tester does. They conduct a series of tests on interactive products, then report back on the results. The pay can be rather lucrative, while the effort is minimal.
There’s no need to enter the world of full-time employment to enjoy the benefits of good wages. Instead leverage your skills and flexibility to land a side gig.