Side businesses have become increasingly popular in recent years, with many Americans turning to them as a way to earn extra income. According to a 2024 Bankrate survey, one-third of Americans have a small side business, with 32% believing they’ll always need one to stay afloat. The average side hustler makes $891 on average per month in extra income from their side business, showing that there is a significant financial benefit to pursuing this avenue.
Aside from the financial benefits, starting a side business also provides an opportunity to build new skill sets. Entrepreneurs who embark on this journey enjoy the satisfaction of creating a business while forging a new career path that gives them greater security, particularly amid the common looming threat of layoffs.
If you’re interested in starting a side business but aren’t sure where to begin, there are plenty of small business ideas that you can kick off today. From low-investment business ideas to turning your hobby into a lucrative income stream, there are endless possibilities to explore.
One popular side business idea is to become a virtual assistant. Virtual assistants manage the administrative side of a small business remotely, making it one of the best home business ideas to do on the side of a day job. This role involves tasks such as scheduling appointments, arranging travel, managing emails, taking phone calls, and ordering supplies. Starting a virtual assistant business can be a lucrative venture, as demonstrated by business owner Ariana Rodriguez, who started her virtual assistant business in 2021 and saw significant growth in just a few months.
Another side business idea is to become a usability tester. Usability testers provide feedback on websites, apps, or products, helping companies improve their offerings before releasing them to the public. This role can be done through platforms that connect testers with companies looking for feedback, offering compensation in return for their time.
Dropshipping is another popular side business idea that requires minimal startup costs. In this ecommerce business model, you sell products online, but a third-party business fulfills the order for you. This eliminates the need to hold stock yourself, making it a low-risk option for those looking to start a side business.
Renting out space in your home is another side business idea that can be lucrative. With platforms like Airbnb and Vrbo, you can list spare rooms, vacant homes, or guest houses for short-term rentals, earning extra income from travelers looking for accommodation.
Affiliate marketing is a side business idea that involves earning commission on products you market for other companies. By promoting products through affiliate links on your social media channels or blog, you can earn a percentage of the sales made through your links.
These are just a few of the many side business ideas you can explore to start earning extra income. Whether you’re looking to start a side business from home, with no money, or with a bigger budget upfront, there are options available for every interest and skill set. With the right approach and dedication, you can turn your side business idea into a successful venture that complements your day job and provides you with additional financial security.
