The five best side hustles which could see you boost income by £50,514
Celebrities With Successful Side Businesses
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Few people love working all the time, so it’s fair enough to ask why someone would work on the side when they already have a full-time job, but there are many reasons to start a side hustle. The financial freedom makes one less reliant on their main employer and supplements their income with unlimited earning potential and usually gives people a chance to turn their passions into profit.
Additionally, for those with great business ideas or considering becoming an entrepreneur, a side hustle is the perfect way to test the waters and experiment with their ideas.
But, with so many people doing so many things, how does one stand out in a world of side hustlers to ensure their success?
Tide noted that this changes depending on the business, but ultimately a good amount of research into one’s product, market and customer will prepare them for a lot of the upcoming challenges.
The bank also shared the top five side hustles currently in the UK that are simple to start, cheap to run, and may well be easy to make money with.
Freelancer – £50,514
Freelancing is the perfect way to turn a passion into profit, and can often be done entirely remotely on one’s own schedule, plus there’s barely any start-up costs at all meaning everything they earn is profit.
Providing complete scheduling freedom as well as financial freedom as the freelancer can choose which projects to take on, how much to do and which clients they never want to work with.
Additionally, freelancing as a side hustle takes away every problematic aspect that full-time freelancers have to deal with, like job instability and cashflow.
Unlike full-time freelancers, freelance side hustles also don’t have unlimited amount of time to do a variety of projects, so they must ensure that each one they pick is carefully considered to be both of interest to them and profitable.
Some of the most popular side hustle freelancing types are: freelance writer, freelance developer, freelance graphic designer and freelance translator.
Virtual assistant – £40,062
Many people have heard this term more and more as technology progresses, but few actually know what it entails.
A virtual assistant generally helps business owners or entrepreneurs with tasks that can be done remotely, like invoicing, responding to customers or proofreading.
Potential virtual assistants should think carefully about what services they intend to offer and the business niche they want to be a part of.
There are minimal start-up costs, like downloading the correct software, most of which are once-off so every paycheque will be entirely money in the bank.
Blogger – £29,037
Blogging is one of the most popular side hustles and garnered an even larger following during lockdown when people had time to set them up and start writing.
Blogs can cover literally any and every topic, so long as each blog post provides value to the reader and showcases the blogger’s unique voice.
This can incredibly expensive or cheap to start, depending on what level one wants to go in at. A free website with self-published blogs will cost nothing, but a professional website with full SEO and a good Google ranking, making it easier for readers to find the site, will be more pricey, but the pure-profit income is definitely still attractive.
The success of a blog depends on the success of the blogger in their ability to tell a story and connect with their readers – and it’s suggested making money from blogging could be linked on how good one’s branding skills are.
Dog walker – £18,177
This side hustle has a lot of benefits besides the money; getting to be outside, exercising, socialising and working on one’s animal handling skills.
Half of all UK adults have dogs, meaning this is a much-needed service and will ensure repeat customers most likely every day.
Many people consider their pets their family, so networking, word of mouth and good reviews are key to gaining their trust as a new dog walker, or joining a dog walking agency, which can be just as lucrative, provides automatic credibility.
By ensuring that each dog in the walker’s care is well-looked after will create a loyal customers base, and as dogs need to be walked more than once in their lifetime, it’s a huge market opportunity with an almost guaranteed income.
Affiliate marketing – £47,347
One of the fastest and easiest ways to make money online is affiliate marketing, which helps to drive traffic to specific sites thanks to unique affiliate links.
This can usually be combined with another type of side hustle, like a blog, to double one’s secondary income without doing very much at all.
Currently, the UK counts for 15 percent of the affiliate marketing global market, and if set up right can be a profitable passive income.
Big corporate companies like Amazon are well-known for using affiliate links but independent entrepreneurs and companies sometimes offer their own programs so it’s worth researching the sector and type of businesses one would like to represent.
Source: Read Full Article