Ten ways to earn extra money for those who do not have start-up capital
You don’t need a fortune to find a part-time job and start acting, you can just try what you are close to and like to do, reports Entrepreneur.
Photo: Shutterstock
A side job is an activity that you can do in addition to your main job.
So what's holding you back?
Well, lack of time is a valid excuse. In fact, there are many side hustles that can earn you a tidy sum with virtually no investment and minimal time.
We offer 10 of the most profitable part-time jobs you can start with without much financial investment.
1. Counsel and teach
What you already know and can do is your most valuable asset. So why not take advantage of the knowledge or skills you already have?
Whether you're a math prodigy, a grammar expert, a musician, or an environmental consultant, there's definitely money to be made here. ZipRecruiter reports the average annual salary for a freelance business consultant in the United States is $69,814 (as of April 2022).
Moreover, if you're an experienced and certified teacher, you can earn $100 per hour. Even online tutoring through sites like Chegg costs around $20 per hour. And teaching lessons at home, such as guitar or music, can earn you $15 to $30 per hour when you're just starting out.
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You already have the tools to get started that will lower your overhead. However, in the long run, you will want to invest a few dollars advertising your services in order to get more clients and experience. Then you can ask for much more for your services.
2. Ride sharing
Most of us have used ridesharing services at least once instead of traditional taxis. Those who don't mind driving and enjoy meeting new people can earn good money with Uber and Lyft. There are even niche options, such as ZIRO or Wingz, which offer airport transfers.
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Getting started is quite simple. To apply, you'll need to complete a few simple steps online, have a driver's license, and a reliable vehicle. Once you've passed the background check and completed the necessary paperwork, you'll be on your way to a potentially lucrative side hustle.
How much can you earn with ridesharing? It depends on your location, strategy, and the time you spend. But with Uber, you can earn $500 a day. In fact, Uber drivers are paid an average of $9-10 per hour. If a driver worked 20 hours a week, their average wage would be no more than $200.
Keep in mind that this part-time job comes with expenses like gas, maintenance, tolls, car washes, and self-employment taxes. You'll be operating as an independent contractor for Uber and Lyft, meaning you're responsible for everything.
3. Rent
If you have a spare room, you can rent it out. Besides the potential for earning a lot of money, renting out your spare room on Airbnb has two main advantages:
- Airbnb will add your location to their homepage, so once someone searches for a place nearby, you won't have to spend any money on marketing.
- You are not required to sell anything.
On average, Airbnb hosts earn a hefty $924 per month. Of course, the income you earn can vary greatly depending on where you live, how nice your home is, and what amenities you provide.
Even if you don't own a property, you can still join Airbnb. For example, become an Assistant—you'll confirm reservations, tour properties, and communicate with guests. Or you can work as an Airbnb copywriter or photographer.
4. Food and grocery delivery
It's never been easier to have food or groceries delivered to your doorstep. Whether you want to grab a bite at your favorite restaurant or cut down on trips to the store, there are apps for that.
The COVID-19 pandemic has seen a sharp increase in grocery and curbside pickup sales. In August 2019, sales reached $1,2 billion. In March 2020, this figure rose to $4 billion, according to Statista. That's a remarkable 233% increase!
When it comes to expenses and taxes for food and grocery delivery drivers, the same caveats apply as for rideshare drivers.
5. Print
The distribution of print-on-demand has become a very profitable business. It's easy to find sites where you can create unique items such as shirts or coffee mugs that contain original or personalized graphics.
You can find a design template for your print-on-demand online store and use free plugins to give your page a professional look. Orders will be placed directly through the supplier, so you won't even have to ship packages. And best of all, you won't need any money to get started.
6. Pet, house or child care
According to the TSA, the number of travelers passing through one of its checkpoints last year more than doubled by the end of 2021. This means vacationers will need someone willing to look after their homes or children.
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However, this type of part-time work is highly individualized. Some may ask you to stop by, say, every few days to pick up mail and water the plants. Others will want you to live in the house, pet-sit, do light cleaning, and occasionally drive their vehicles.
To properly care for someone else's property, you need to understand whether it is convenient for you in terms of time and the work involved.
In addition to Craigslist and Facebook, there are services like TrustedHousesitters that help find housekeepers. For child or pet sitting, you can use Care or Rover. These sites help both parties find the right person without worrying about scams.
While this side hustle doesn't have as much growth potential as others, it does allow you to earn an extra $500 per month.
7. Garage resale
Garage flipping is the practice of buying cheap items and reselling them at a higher price.
"I know this isn't a groundbreaking idea, but you should be inspired by people who have the guts to dig in and make something like this work for themselves," noted Jeff Rose, CFO and founder of Good Financial. "For years, people have been scouring flea markets and garage sales for antiques, electronics, and appliances."
There are also items that can be sold at consignment stores, garage sales, or online platforms like Craigslist, eBay, OfferUp, and Facebook Marketplace.
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This side hustle offers flexible hours and compelling stories, and it also brings in a decent income. For example, Rob and Melissa Stevenson of The Flea Market Flipper earned six figures by rummaging through their garage.
8. Social media manager
Whether we like it or not, various apps are part of our daily lives. According to Kepios, in October 2021, 13 new users joined social media every second. This number is unlikely to decrease, as new online platforms appear regularly.
Account management typically involves a wide range of responsibilities. As a social media manager, you may coordinate not only someone's account on a particular app but also their entire company's strategy. For a social media manager, it's crucial to stay on top of current trends and understand how social media algorithms work to attract new customers and/or followers. Your knowledge and skills can determine whether you earn $24,468 or $214,095 annually.
9. Freelance
The rise of websites like Upwork and Freelancer has revolutionized the way professionals and individuals complete projects around the world.
There's always a high demand for specialists in web development, programming, and graphic design. Freelancers are especially sought after by small businesses for affordable projects. For example, on Upwork, they earn an average of $17,96 per hour. However, you can set your own rates.
You don't need technical skills to become a freelancer—your creativity can make money too.
For example, you could put your writing or photography skills to good use. There's no shortage of clients looking for talented freelancers to help create content for their blogs or social channels.
Many require editing and proofreading services, among other things. You can even find people looking for creative individuals to transform their visions into works of art.
The opportunities in this segment are endless, and with nothing more than the skills and resources you already have, you can start this side hustle today.
10. Blogging
The last suggestion for a low-startup side hustle is to start your own blog.
Whatever your business, it can help you increase your profits. Having a blog builds trust and allows you to showcase your skills, knowledge, or activities.
Plus, your side business can grow by giving customers a way to find you.
If your content is valuable to your audience, you can earn between $500 and $2000 per month in your first year.
The great thing about blogging is that it doesn't require daily attention. Creating the content you need will only require a few hours a week.
Consider avoiding highly regulated industries, such as healthcare, as the rules can be difficult to understand. Additionally, you don't want to risk your primary source of income.
The most important thing is not to devote all your attention to your side hustle, but simply focus on your day job. Also, don't forget to check your contract. You definitely don't want to start your new business and discover you've signed a non-compete agreement with your employer.
And something else.
While keeping overhead costs low is important, there are details you shouldn't skimp on. It's crucial to follow industry regulations, even if you're building a business based on existing skills, such as babysitting, pet grooming, haircuts, or baking. You should check your homeowner's insurance policy to determine which incidents are covered and which aren't. The same applies to your auto insurance if you plan to deliver food.
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