Side businesses have become increasingly popular among Americans, with one-third of the population engaging in some form of side hustle to earn extra income. According to a 2024 Bankrate survey, 32% of Americans believe they will always need a side business to stay afloat financially. The average side hustler makes $891 per month in extra income, showing a steady increase from previous years.
Aside from the financial benefits, pursuing a side business also provides an opportunity to build new skill sets and explore entrepreneurial endeavors. Entrepreneurs find satisfaction in creating a business and forging a new career path that offers greater security, especially in the face of potential layoffs.
If you’re considering starting a side business but are unsure of where to begin, there are numerous small business ideas that you can kick off today. From low-investment business ideas to turning your hobbies into lucrative income streams, there are plenty of options to choose from.
One popular side business idea is to become a virtual assistant. Virtual assistants manage administrative tasks for small businesses remotely, making it an ideal home-based business to run alongside a day job. Starting a virtual assistant business may require a small initial investment for tools and technology, but the potential for growth and profitability is significant.
Another lucrative side business idea is to become a usability tester. Usability testers provide feedback on websites, apps, or products, helping companies improve their offerings before launching them to the public. Platforms like UserTesting offer opportunities for testers to earn money by providing valuable feedback.
Dropshipping is another popular side business idea that requires minimal startup costs. With dropshipping, you can sell products online without holding inventory, as a third-party supplier fulfills orders on your behalf. This business model allows for flexibility and scalability, making it a great option for those looking to start a side business.
Renting out space in your home or offering consultancy services are also viable side business ideas that can generate extra income. By leveraging your existing skills and resources, you can create a successful side business that complements your day job.
For those looking to start a side business with no money upfront, teaching a language, house or pet sitting, becoming a rideshare driver, or delivering food are excellent options. These businesses require minimal investment and can be started quickly to generate additional income.
For individuals with a bigger budget, starting a cleaning business, event planning service, or offering home repair and DIY services can be profitable side business ideas. These businesses cater to specific needs in the market and have the potential for growth and success.
Creatives can explore side business ideas like selling handmade goods, starting a clothing line, or becoming an influencer. These ventures allow individuals to showcase their talents and creativity while earning extra income on the side.
Overall, starting a side business is a great way to supplement your income, explore new opportunities, and build valuable skills. With the right idea and dedication, a side business can grow into a successful venture that provides financial stability and personal fulfillment. So, if you’re ready to take the plunge, consider one of these side business ideas and start your entrepreneurial journey today.
