Although having a day job is great, you may still need means of generating additional resources. Statistics indicate that approximately 46% of Brits have side hustles. Indeed, establishing a business can boost your income and help you gain financial independence. However, it’s important to choose a business idea that is viable and sustainable. Here are a few profitable side hustles to boost your income.
- Online teaching
With the rise of remote work and online learning, there is a growing demand for online tutors and teachers. You can start a business offering tutoring or teaching services in a subject you are proficient in, such as math, science, or a foreign language. To get started, ensure a good internet connection and a quiet, distraction-free workplace. Likewise, leverage video chats to facilitate a more personal connection with your student and a virtual whiteboard or screen sharing to work through problems and explain concepts. You also want to have a clear plan and structure for each session and keep the student on track.
2. Photography
If you have a passion for photography, you could turn your hobby into a side hustle by offering your services to businesses and individuals. You can offer portrait sessions, event photography, and more. As a professional photographer, it’s important to have high-quality equipment that you can rely on. This doesn’t necessarily mean you have to have the most expensive gear, but they should allow you to produce the best work possible. For instance, you can invest in a slider for camera to make your work easier. Consequently, start building your portfolio as soon as possible and regularly update it with your best work.
You also want to take every opportunity to take photos and try out new techniques and styles to see what works best for you. Consider taking a class or workshop or finding a mentor who can help guide you on your journey. Establishing relationships with other photographers, potential clients, and industry professionals can be an important part of a successful photography business, so feel free to consider this.
3. Virtual event planning
The shift to virtual events has created a demand for professionals who can help plan and execute online events. If you have experience in event planning and are comfortable with technology, you can start a business offering virtual event planning services. Gain experience in event planning by volunteering or interning at a local event planning company or organisation. This way, you can learn about the industry and build your skills. Also, obtain the necessary certifications and build a portfolio of your past events. Building a network of contacts in the events industry can help find job opportunities and get advice from experienced professionals.
Starting a side business can be a rewarding and fulfilling experience, but it’s important to research and ensure that your business idea is viable and sustainable. Consider your skills, experience, and interests when choosing a business idea, and conduct market research to determine the demand for your services.