9 to 5 jobs were once the American dream, and rightly so. After all, they came with perks like consistent wages and paid leaves. But, today, issues like the rising cost of inflation require people to hold more than 9 to 5 jobs. That is why around 34%[i] of Americans have side hustles.
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If you don’t have a side gig yet, consider starting one and using it to diversify your revenue streams. If you play your cards right, your side hustle can bring in thousands of dollars per month.
Below are six lucrative side hustles you should consider starting today.
1. Rent Out Your Ride
Research[ii] has proven that most American drivers spend less than an hour behind the wheel daily. If you have a car, it likely spends a good chunk of the day in your driveway, home garage, or office building’s parking space.
Just because you aren’t using your automobile doesn’t mean it has to sit idly. On the contrary, you can rent your car to a platform like Turo, Avail, and Airbnb. You can make a decent amount on a platform like Turo, especially if you have an in-demand ride like a convertible or SUV.
This side gig is available to motorcycle owners too. If you have a bike you’d like to use to earn extra cash, try a rental community like Riders Share, a peer-to-peer platform that connects motorcycle owners and riders.
Did you know that around a quarter[iii] of the US population uses rideshare platforms at least once a month? These people are paying customers for numerous popular apps, including LYFT, Uber, and GoJek.
The good news is that ridesharing is a solution that you can fall back on not only when you want to save money but also when you need to bolster your income. For instance, you can join Uber as a driver and earn around $11[iv] per ride. And the good news is your daily wages aren’t fixed. You can rake in juicy returns, provided you make many trips.
Besides, there are various hacks you can use to turn ridesharing into a lucrative side gig. For instance, you can center your services around surge pricing hours when many people need a ride or sign up with more than one service provider.
3. Start a Dropshipping Business
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Dropshipping can be a profitable business if you work with the right suppliers. According to BlueCart[v], as a dropshipper, you can rake in anywhere from a 20-30% profit from every sale. That means a dropshipping business can easily make you around $100,000 annually!
What’s more, starting a dropshipping business is relatively easy. Set up your store, specify product prices, and market your venture. If you want the side gig to pick up and grow quickly, try dealing with on-demand items like electronics, furniture, and women’s clothing.
And don’t let fear stop you from trying your hand at dropshipping. Remember, this business allows you to sell products you don’t manufacture or stock. So, you don’t have to spend ungodly amounts while buying goods in bulk or investing in facilities like warehouses.
4. Deliver Groceries and Food
Many people live with disabilities and challenges that make movement and traveling a nightmare. That means they find grocery dashes a nightmare and prefer to hire delivery services. This scenario presents a golden opportunity. You can help such individuals by going to the store and shopping on their behalf in exchange for a small fee.
Alternatively, you can join a platform that delivers groceries within your neighborhood. Try platforms like Instacart, DoorDash, or Shipt, which allow people to order from popular local retailers and then use drivers like you to fulfill their orders.
Most companies that fulfill grocery orders support food delivery services, including DoorDash and Postmates. So, you can also pick up meals and treats from restaurants and deliver them to customers within your neighborhood.
Anyone can start and launch a blog within a few minutes. You, too, can do it, even with zero funds. That is because several platforms support free blogging sites, including WordPress, Weebly, and Blogger.
Once you’ve launched your blog, you can earn using several monetization models. These include affiliate marketing, ad monetization, and digital product offering. But to do that, you may have to subscribe to a paid plan.
The revenue you will likely earn from a blogging side hustle depends first on the niche you’ll pick. If you want maximum returns, consider handling topics or events about digital marketing, personal development, recipes, or health and fitness.
If you doubt blogging is a good side hustle, consider the following. First, you can blog about any topic you’re passionate about. Moreover, as a blogger, your hours are flexible, and you can work from anywhere, including your bedroom.
A good blog can bring in $50,000+[vi] annually.
6. Provide Handyman Services
Residential and commercial buildings often demand minor renovations and repairs. Most owners and management teams don’t have the time or skills required to handle such projects. So, they hire handyman services.
Handyman services come in their varieties. The most common include fixture replacement, drywall installation, window repair, and power washing. If you know how to do any of these tasks, consider turning your knowledge and experience into an income source.
A handyman business won’t cost you much. You can start a sizable venture with less than $1,000. And at the end of the day, you’ll be able to work on something you are passionate about.
Popular Books on Side Hustle Income: