Who doesn’t appreciate fresh fruit-juice on a sweltering day? To tap into this lucrative business, you have to start by requesting for a permit to open a kiosk in a chosen locality, preferably one that is hard to miss. Following this, you will need to pay rent for shop-space. Other than this, the only other investment you need to put your money up for is for the purchase of the raw materials, supplies like machines for making the juice, and the salaries of the employee(s) making the juice.
Domain name trading has been around for the last couple decades, and while most slam-dunk names have long been sold off (Insure.com went for $16 Million in 2009) there’s still plenty of others that you can get your hands on for relatively cheap and broker as your side business idea. But beware: some experts doubt the long-term viability of this business idea, so you shouldn’t quit your day job just to put all your effort into this one without some successes already in the bag. To get you started, here are some tips from GoDaddy, arguably the world’s largest and most famous repository of domain names. Imagine owning desirable domain names for the next decade’s most innovative companies.
The closest I came to knitting was repairing rips in the sails on my boat, but there a are a lot of people who want to knit and crochet—and you can show them how! You could start with a class at your house or perhaps at a local knitting store. Maybe offer an entry level course at the local adult ed program to get going.
If editing and advising college students on how to write compelling 500 word essays on topics such as “You were just invited to speak at the White House. Write your speech,” seems like a compelling business idea to allocate your free time towards, trust me—tons of parents will pay you to edit admissions essays and offer constructive feedback for their children. Be careful not to blur the ethical line of actually writing their essays, but serving as an editor to help them convey their message can become a great side business idea that has the potential to spread by word-of-mouth referral in your community.
Turning your favorite craft or hobby into a revenue-generating business idea easily counts among the most fulfilling experiences anyone can have. Just take a look at what Jacob Huss of Soteria Designs is doing wit his hobby of hand-building furniture and wood jewelry. With more and more people demanding a higher degree of personalization in just about anything they own or use, count yourself lucky if your craft happens to be the creation of custom furniture. Not only is the real estate sector regaining its footing, the number of style-conscious customers is also on the rise, creating plenty of room for growth into this business idea.
Thanks to sites like TaskRabbit, plenty of people have learned to pick up work doing a variety of side jobs that other people just don’t have time to do. Common tasks can include anything from picking up dry cleaning to making dinner or assembling Ikea furniture.
Yes, graphic design is hyper competitive. But everyone wants a little different style. So, if you get a highly appealing design in front of your prospective audience you can be successful. For this business, I would go crazy having a fabulous looking website with a totally “kickass” front page! Then I would use SEO techniques, social media, and every other marketing tool I could think of to drive traffic to it.
If you have a knack for connecting with people and the willingness to take on some risk, a commission-based freelance sales role could be a great side business idea for you. Many startups seek part-time and commission-only salespeople, especially when they’re just getting started, which means you’ll often be able to make this a home based business idea. Develop your sales strategies, become an inside sales rep and perfect your cold calling skills on the side in your free time for nothing but commission, negotiate a little equity and you could profit big time if you’re pitching a solid product and the startup succeeds. Start your sales education with the acclaimed books, Secrets of a Master Closer and To Sell is Human by famed bestselling author Daniel Pink and you’ll be well on your way to getting this side business idea off the ground.
If you’re a dog lover and you have pet dogs for long now, dog breeding is a good business to start. You can start it as a sideline business then make it full time. You can start with one dog of one breed then and from there expand the business by acquiring another dogs with different breeds.
If you already have a website that’s driving in targeted traffic, a great way to make passive income from the content you’re already creating as an easy side business idea, is through affiliate marketing. ShareASale, Rakuten, Clickbank, and Skimlinks are a few of the best affiliate networks and tools that can help you make money from the content you already produce, thus amplifying your side business idea income. Check out this extensive list by Justine Grey, covering the 59 Best Affiliate Programs for Business Bloggers to get some inspiration on how other bloggers are growing affiliate blogs from side business idea to full-time company.
Many small business owners cover their start-up costs entirely through loans, with the expectation that they will begin paying back the loans with the profits from their new business. New businesses can take months or years to generate a profit, however, and loan payments can really become a millstone around the neck of a fledgling operation.
One key to success in this kind of business is not getting overeager. In other words, you need to patiently wait for the best deals that offer you a high probability of making a good profit margin. Another key is having low overhead. I had very low overhead working out of my parent’s backyard – at least until the town sent us a “cease and desist” letter for violating local zoning laws. It’s necessary to keep a very low profile with only a couple cars or boats at your house at a time. Of course, part of the fun of this business is having a constantly changing collection of very cool cars or boats at your disposal to take for a spin now and then!
Share in the comments if I’m missing any of your picks for the best side business ideas that you can start while working full-time! Bonus points if you’ve already gotten started on one of these business idea, and share the link to your website.
Forbes established its top 10 list using data from Sageworks, a financial information company that compiles lists of the fastest-growing industries with low start-up costs. The top 10 businesses in late 2014 according these these criteria are:
A lot of people make some really neat crafts. But to be able to make money at it, you also need to be able to price your products reasonably—and allow yourself enough money to bring your product to market. That being said, there are more markets than ever for your products! In addition to local retailers and craft fairs, you can sell them online, on your own website, or through third party sites like Etsy or EBay.
This is somewhat similar to #17, but the thing is that VA is usually associated with (but not limited to) digital works such as Microsoft Office works, Data Entry Works, Graphics Design, Web development, Social Media Management and the likes.
Have some extra space in your home? Turn that extra bedroom into a “bed and breakfast” room. If you live near any sort of tourist destination, you can try your hand at renting out a room through Airbnb or CouchSurfing.com. You may also find paid hosting opportunities in your community: Sign up to host exchange students, visiting professors to a nearby college, or hospital patients receiving long-term treatment.
If you’re willing to spend a little more, and I’m talking about $5 more here, I’d personally recommend GetResponse with their most basic plan costing you $15 for up to a thousand subscribers. Even then, they also offer a generous 30-day free trial, more than enough time to get your business up and running.
LLC: LLCs are the most popular business structure because they offer the protection of a corporation without the double taxation or extra paperwork. California allows SMLLCs (single-member LLCs), so you can form one even if you’re the only member of your company. Read our guide to more about how to form an LLC in California.
Companies large and small need to be posting regularly to social media or they will be left behind. Many companies outsource this work to social media specialists. This is a great business because you will receive ongoing work and a recurring revenue stream. And the work is easy enough that over time you can delegate the day to day posting work and build a social media agency empire!
I’ve known several people who have made money rehabbing apartment buildings and houses. One friend works full time as a stockbroker, another ran a multimillion-dollar employment agency, while the third made rehabbing his full-time business.
For starters, getting a new website to rank in the first page of search engine results of the more popular keywords on the larger search engines is a formidable task indeed. Yes, you can buy advertising to drive traffic to your site, but it is very expensive. Then, even once you have driven traffic to your website, it can be very hard to convert visitors to sales.
How you define quality content depends on your audience and what they find valuable. At Foundr, we’ve found that our Instagram audience likes motivational quotes and updates about what’s going with the Foundr podcast.
Find resources. Depending on the structure and size of your LLC, writing an operating agreement can be difficult. As mentioned above, you should hire an attorney to look over your document for best results. However, your state may have other resources for LLC members, such as form operating agreements or copies of the default rules.
Do one thing well. Don’t try to master SEO, social media, online advertising and email campaigning all at once. Make an educated decision about where to focus your efforts based on your knowledge of your target market, and stay there.
To be successful, you have to rent a lot of items, because the rental fees on even expensive products like cars or boats can be relatively modest. On the expense side, you have marketing costs, repair, and maintenance, to name a few. Liability insurance can also be high. Even if you get people to sign a release, you can still get sued on the basis of having rented out faulty equipment.
If you don’t mind parading yourself around in public places as a side business idea, and enjoy a little attention, then working as a human billboard can pay a surprising amount of dividends. Renting out your beard, for example can earn you as much as $5 a day while having a brand logo tattooed on your shaven head for five years could pay as much as $7,000—though this type of earning opportunity is admittedly rare. This business idea is definitely not for the faint of heart, and is a little extreme for me, but nonetheless it’s been done as a side hustle for many people. You can start by holding a placard or wearing a sandwich board. If you think this is a good side business idea, you can go all the way and turn it into a full on small business idea with enough hard work—plus you won’t have to deal with all the issues other more complex businesses have to constantly think about (like reducing churn).
Retail is a lot tougher than ever before, and it’s getting more difficult every day! Why? In addition to the huge discount department store chains like Walmart continuing to take market share, the so-called category-killer superstores or big box stores continue to threaten smaller retailers in all kinds of categories. Then on top of that, you have the Internet companies, like Amazon, which are more than willing to run their business at a loss today in hopes of making it up at some point in the distant future.
Open a bank account for your LLC. You will need to have your EIN prior to opening an account. Consult your bank of choice about the options on your account that will be best suited to your business needs.
SEO (Search Engine Optimization) refers to getting a website to rank higher for certain “search terms” in search engines like Google. When a website ranks higher, it gets more relevant traffic and in turn, can make more revenue.
This scheme provides relief from corporation tax on the trading income and certain gains of new start-up companies in the first 3 years of trading. There will be full relief on income and gains relating to the trade where total corporation tax liability in any of the first 3 accounting periods does not exceed €40,000.
Time: Long hours are the norm when owning a food truck business. With shopping, prep, marketing, event booking, cleaning, truck maintenance, accounting and tax obligations, etc., this is more than a full-time job.
You must have noticed how those little breakfast and tea stores across your city are almost always filled with customers. This is because food as a commodity will always do well in a competitive market. To open up your own breakfast joint, you need to invest money in renting a space for it, after having received a permit for it from the respective authorities. If your rent is within Rs 5000 a month, you can dedicate the rest of your budget on buying groceries and other raw materials as well as second-hand tables and chairs.
This is one of the most popular small businesses in the world! And no wonder! Everyone needs to have it done and many people don’t like to do it! It is also a business that can be challenging to get your employees to consistently do a fantastic job. That’s why this business is particularly well-suited for both solo entrepreneurs and an entrepreneur who runs one single crew of cleaners.
Who am I? I’m New York Times bestselling author Ramit Sethi, and I’ve created more than 15 products that generate tens of millions of dollars a year. I’ve helped tens of thousands of students build businesses so profitable they can leave their full time job.
Meghna Nayak, Founder of LataSita, a fashion brand that up-cycles old saris into beautiful unique and ethnic pieces, states, “I felt inspired and confident enough to start LataSita in India where we already have a long history of upcycling and jugaad woven into the culture-I wanted to update it and infuse it with some style and snazz!” (As stated by Vagabomb). While most of her fixed budget was spent on material for her designs, the concept of recycling saris helped defeat that splurge. Her primary investment went into maintaining a studio space and paying her two tailors.
It is very hard to describe what I look for in a good factory beyond “a good feeling”. I think it comes with practice. I suggest that once you have spoken to them, try having a chat over Skype. If their English is so bad you can’t really communicate, then it is probably not going to work out.
The key to get going with this business is to build relationships with schools and school music directors, who can recommend your services. Chances are a larger school isn’t going to recommend you unless you have a track record, so you will probably have to start with some very small schools. Musical instruments, especially those that are rented out, are highly financeable for low rates, so this is a business you can get into with very little money, and expand aggressively.
Here’s the good thing though. With good technical skills and good negotiation skills, you can actually make a good business out of it. At some point in time, you will find yourself loaded of web development works.
I’ve never tried to make a business out of selling used cars, but my college girlfriend said it was just the kind of business she envisioned me going into. However, I did buy and sell used boats during a couple college summer vacations.
I’m actually sad of the current situation of the Filipino web developers here in Philippines. A lot of web developers are getting low salaries because of poor negotiation skills. What happens is we get low rates for the services we provide. I’m also a web developer myself so I know how this business works in general.
If you don’t choose a business structure like a corporation or LLC, you’ll automatically be considered a sole proprietor (or partnership) by the IRS. However, operating as a sole proprietor, your personal assets are at risk. If your company is ever sued, the court can seize your personal assets if your business doesn’t have enough to cover its debts. Both the corporation and LLC separate you and your assets from the business, and provide other tax benefits.
I have been selling online through an Amazon FBA business since 2013, but I haven’t really spoken about it much on this blog. I hesitate because to a reader I think it sounds too easy. There are a lot of the articles written about Amazon FBA and they too often just like a scammy get-rich-quick scheme.
I like this idea! Instead of making the speeches and presentations yourself, you are coaching the presenters. I see this market as largely three-fold. First you have professional speakers who are making or trying to make a living giving paid presentations. Then you have people who are regularly called upon to make speeches or presentations in connection with their business. Then you have the person who occasionally is called upon to make a speech or presentation without being paid for it, but nonetheless wants to improve their presenting skills. This third market is the one I would suggest focusing on, to get started in this business.
The great thing is that creating your own professional-looking social media is incredibly easy with a tool like Canva, which you can use by signing up for free. Even with their free version, you have access to thousands of templates and images.
Also, on the weekends there is the advantage of being more likely to see your clients while working on their lawns. Show off your friendly personality and cement the bond with them, ensuring they will be customers for keeps! Better yet, you can suggest some additional services you could offer…wouldn’t a few new flowers or a couple new bushes be a nice touch?