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There is a reason the side hustle industry is a booming market in the United States, and this is mainly for the extra income and clamor for financial sustainability. As promising as some job markets are, not everyone has the qualifications or luck to secure the highest-paying opportunities. This leaves a majority with the option of working multiple jobs to afford their dreams.
Recent data from the Bureau of Labor Statistics shows that about 5.3% of civilians are multiple job holders. More reports reveal that 45% of working Americans currently have a side hustle. The list could go on, but it’s clear that people are always looking to explore opportunities for extra income. If you fall into this category, below are some of the best options for different skills and talents.
Tutoring
According to ZipRecruiter, the average hourly pay for an online tutor is $19. For just 5–10 sessions, it could add up to $100–$200 income for you weekly. It gets even better if you decide to tutor multiple students simultaneously. The profit potential in this business isn’t the only factor that makes it an ideal option for a side job. The flexibility and low barrier entry also add to it. And, because there are a lot of online platforms that cater to this work, you can handle all clients virtually, breaking the barriers of location or demography. Applications like 3veta, Preply, Kahoot, and Teachable are some of the leading options out there. If you have technical knowledge in any field, consider sharing this and teaching others with a fee attached. Some ideas to get you started: Geography, Maths, Art, Music, Graphic Design, and Computer Science.
Dropshipping
As of 2022, the global drop shipping market was estimated at $225.99 billion. The industry was valued at $250 billion in 2023, with higher numbers expected to follow by the end of 2024. The obvious increases over time show that it is a growing market with several opportunities for others to tap into. Dropshippers can make six to seven figures in annual revenue, depending on their audiences. The best thing about this position is that you need very few skills and no certification to gain your ground. For beginners, it is as easy as finding a supplier and choosing a marketplace. With time, you can integrate better marketing approaches and strategies for higher earnings. The bottom line is that dropshipping has a relatively low barrier of entry, and it passes as a side hustle because you don’t have to spend so much time before earning.
Online Trading
A recent Aite group research revealed that about a quarter of U.S. adult citizens with access to the Internet are retail online traders, and about 6% more of them do this professionally. New York has been the second biggest forex market for some time now, showing clearly how popular this investment is in the country. From forex to stocks, cryptocurrencies, and ETFs, the online trading market is not just an investment scheme. It’s a paying side job for a lot of financially savvy citizens — so much so that the 25th percentile makes at least $56,500 in returns yearly. Online trading would be a convenient side gig if you’re good with finance and have some extra time in the day to trade the markets.
Affiliate Marketing
The affiliate marketing system is a winning model for businesses today. Why? Affiliates promote products and services to help brands reach a large audience. The good part is businesses only need to pay after the sales have occurred. While the companies are making more sales, the affiliate marketers are making a percentage from every sale they make. If you have excellent content creation, persuasive, and marketing skills, put it to work as an affiliate marketer. You can make between $10,000 to $50,000 a year on this job.
Freelancing
Approximately 1.57 billion people are working as freelancers in today’s market. Freelancing on digital platforms has seen real upswings over the past few years, particularly after the COVID lockdown. The market was worth $2.35 billion in 2020 before expanding to about $3.39 in value. Some core verticals that have contributed to this growth are tech, marketing, content creation services, and management consulting. According to Payoneer, these professionals can make an average of $21 per hour. Even full-time employees still take some freelance gigs from time to time for some extra income. If you have any hard skills that can sell on platforms like Upwork and Fiverr, now is the time to consider setting up a profile.
Photography
If you’re great at taking pictures, you can start considering ways to monetize this skill. The average pay rate for a part-time photographer in the U.S. is around $20.36 per hour. Full-time ones can make as much as $30,000 to $75,000 a year. You can make money with this skill in several ways, and you’re not restricted to only taking bookings for special occasions. You could try selling prints and stock images, teaching classes, creating a photography blog, and so much more. Some of the websites to sell these images are Shutterstock, Getty Images, and iStock.
Virtual Assistant
Becoming a virtual assistant is not only possible with an advanced master’s degree but is more about mastering specific skill sets you may already have, like social media management, data entry, PowerPoint presentation, writing, and email management. Most of the duties you’d be required to perform are day-to-day managerial tasks like answering phone calls, making appointments, bookkeeping, and general research. On Upwork, freelance VAs can make an average of $18–$35 per hour based on their skill sets. You can join the percentage of high earners by taking some courses online to boost your qualifications.
Finding the Perfect Side Hustle for Your Skill Sets
Although people with the required hard skills already have an edge, there is an option of learning on the go for those who do not. If any of the roles listed in this article interest you, you can take online courses on platforms like Udemy and Coursera. Or simply YouTube free resources and how-to videos to get started.
Frequently Asked Questions (FAQs)
What is the best side hustle for beginners?
For beginners, side hustles with low barriers to entry like tutoring, freelancing, or virtual assisting are great starting points. These options allow flexibility and often don’t require significant upfront investment or advanced qualifications.
How can I start a side hustle with minimal upfront costs?
Many side hustles require little to no upfront costs. For example, freelancing, tutoring, and virtual assistant roles only require skills and a computer with internet access. Dropshipping and affiliate marketing also have relatively low startup costs since they don’t require inventory or high overhead.
How much time should I commit to a side hustle to see results?
The time commitment varies based on the side hustle you choose. Some, like freelancing or virtual assisting, can be done on a flexible schedule and still earn you a few hundred dollars a month. More time-intensive side hustles, like building an affiliate marketing business or starting a successful dropshipping store, may require several hours a week to build momentum and income.
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