Side hustles have become ubiquitous in our society, with their prevalence no longer surprising. According to a recent MarketWatch survey, an astounding 50% of Americans engage in either side hustles or freelance work alongside their full-time jobs.
But while most side hustles have the potential to generate high income, some take longer than others to actually start and get off the ground. And if you’re short on time, or have just been laid off from your job, you simply cannot afford to wait several months or years before you can get started and start selling.
So for your convenience, here are five high-paying side hustles that you can start today. These only take a few hours to set up. It can even take you spending an entire night working on it if you want—but the length of time it takes to get it initially launched is up to you and how hungry you are, and how badly you want it.
But first, there is a slight caveat here. Even though these side hustles can be technically set up within one day, your work is not done after day one. You will need to conduct ongoing market research and refinement of the product or service you are delivering, to ensure that you remain relevant and are able to consistently bring in high income.
This is because, whether you call it a side hustle, freelancing, gig work, or a start-up, any successful business venture demands ongoing effort (although the level of effort will vary depending on your business model), research, and strategy refinement.
Now, let’s look at what these five high-paying side hustles are:
1. Domain Flipping
The process of domain flipping is similar in some ways to investing in the stock market; you buy website domains at a relatively cheap price, then sell them on domain marketplaces for a higher value than you bought them for, and you profit from the difference. You need to start by researching for the right quality domain and understanding the domain market so that you can make informed decisions before purchasing and registering it.
Some domains that you buy can be worth as little as $10, so this side hustle can be started with relatively little investment. This can be quite lucrative. Some people generate upwards of $100,000 a year, while part-timers can expect to make around $200 to $500 per month.
2. Ecommerce
The world of ecommerce is limitless. Amazon, Etsy, eBay, Poshmark, Shopify—all of these are ecommerce platforms. There are many ways to make money with ecommerce without needing to spend much time or investment upfront.
Start by researching your niche and find a product that you know will sell well. Once you’ve identified this, there are many ways to sell it.
You can sell on ecommerce using digital products (more on that below), dropshipping (which is quick to set up as you will not need to order and store inventory), or make your own products by hand (as is this case with Etsy, for example). You could even flip pre-loved items and sell them on second-hand ecommerce sites such as Vinted.
3. Fitness Vlogging
The health and fitness industry is a multibillion-dollar market, and it has witnessed a 13% revenue increase this year. If you’re passionate about health and fitness—and have a good body to show for it—why not try your hand at fitness vlogging? You don’t need fancy equipment to get started as a vlogger.
All you need is a good phone camera and adequate lighting to begin with.
Whether your goal is to be the next YouTube influencer, viral TikToker, or Instagram celebrity, fitness vlogging is a great side hustle that can eventually be turned into a full-time business, through using your platform to promote relevant affiliate links, getting sponsorships from recognized health and fitness brands, and offering related services such as fitness plan downloads.
4. Printable Art
Who would have thought that art could be so accessible 20 years ago? Thanks to Etsy, you can sell digital art without needing to stock any inventory or use physical art tools. If you have design software and excellent design skills, you can create your Etsy seller account and start selling digital products such as printable art.
5. Spreadsheets
While on the topic of digital downloads, another great recommendation for these types of products is spreadsheets. Using Google Sheets or Excel, you can create a spreadsheet template for anything from business plans, to project management, to budgeting and financial management for beginners. These can be sold on Etsy and are a great complement to other side hustles such as vlogging, where your spreadsheets can complement the content of your vlogs.
All five of these ideas can technically be launched from day one. But the real success lies in what you do after the launch. Your research, analysis, and adaptability are key here if you want to build a high income through these side hustle ideas. READ THE FULL ARTICLE
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