When starting a side hustle its important that you start by doing something you enjoy there are an endless amount of possibilities with this and I’ve found that when I look at everything with a mindset of how can I monetise that its become easier to spot opportunities. Don’t limit yourself to ideas I suggest but instead use them as a guide and try to spot ways you can monetise your hobbies or interests.
with any of these please do your own research this is only a guide you should do further research before starting anyone of these.
When I think of side hustles a common one that comes to mind is youtube but other similar things could be a blog or even a podcast. These are all things that are easily adapted to your interests which can make them enjoyable to do, these can take a lot of time and effort to grow into anything substantial however once these you’ve grown a reasonable audience these can be a good way to make money online
The major benefit to me with this type of Side hustle is that for most of these they can be done from anywhere in the world as long as you have a laptop and an internet connection meaning if these replace your job you can work from wherever you want, whenever you want.
The main thing that I believe holds people back with this if the time it takes to build a good following however its important to remember that everyone starts somewhere and that one day the freedom you can gain from starting something like this would far out way the work and effort needed.
Starting Some kind Of In Person Service
This could include a car detailing service the work involved in these types of businesses are usually could be a higher than some others however in person service I believe are much quicker and easier to start for example a car detailing business will need some equipment and will take some time to learn properly however as your still learning you can reflect the lack of experience in your pricing and as your reputation and skills builds so can your price.
These businesses are usually mostly built on word of mouth however adverts in local papers or starting an instagram page may also help to build this business even faster.
As a business like this grows the obvious way to grow would be to employ staff, however other ways a business like this could grow could be to sell a product or grow a social media presence.
Starting A Service Based Website
These website might include a price comparison website or another popular one I see a lot is a stock screening website, these often need high amount of skill to build however with the time and patience most people could build one, or an alternative would be to pay someone to build the website for you however this may be very costly.
The benefit with any online business as previously mentioned is that they can mostly be done or managed from anywhere giving people more freedom than most traditional income streams.
Buying A Franchise
This can be something that is very difficult to do as most franchises have requirements to meet which may be difficult for most people to reach, and id certainly recommend with this that you consult a professional before attempting this if your new to this as there can be many hidden fees etc. But if brought correctly and if you have a strong management team managing the franchise you can fairly quickly get a return on your investment compared to standard investments such as stocks.
With a franchise you are buying a ready made business with an already established brand meaning you don’t have to build a brand in the same way you would starting a business from the start.