Thinking About A Side Hustle?

What is a side hustle?

A side hustle is a secondary income stream, or side business that is independent of a full-time career. As of 2024, 36% of U.S. adults have a side hustle. In addition to earning extra income, it’s also a great way to monetize a special skill or something you enjoy. It’s also a financially smart way to test the waters if you’re thinking about a side hustle and have an idea that you’re considering turning into a full-time business.

Talent and Interests

There’s an old saying, “figure out what you love and how you can make money doing it.” Do you have a special talent or beloved hobby that you could transition into a side business? Maybe you’re great at organizing and could be a professional organizer. Maybe you could marry your love of pets and photography into a pet photography business. What you’re good at, and what you’re interested in are two great places to start.

Start Small

If you’re a crafter, perhaps you can begin by making a few crafts to give to friends and family as gifts. This will open conversations about your side hustle idea - word of mouth can really travel fast. You may have a local gift shop that will carry some pieces on consignment for you. There are always local craft fairs, particularly around the holidays, where you can rent a table or split a table with another crafter to get your name out there. Online options like Etsy, iCraft, Amazon Handmade and even eBay are other avenues to explore.

Can’t decide?

There are lots of ready-made ideas for earning extra income, and not all require an investment to get started. Here are a few possibilities:

1. Landscaping: If you love gardening, offer to plant and/or weed gardens for neighbors on weekends or after work, and even do lawn maintenance if you like mowing.
2. Tutoring: Are you good in Math, English or Science? Maybe your local high school could use a tutor.
3. Transcribing: If you’re an excellent typist, there are great opportunities for medical transcriptionists.
4. Editor: Are you that reader who is always finding mistakes in novels. How about becoming a book editor?
5. Pet sitting or dog walking: If you love animals, either of these options would be enjoyable!
6. Delivery: With Door Dash, Instacart, Uber Eats, Uber and Lyft, you can easily make food deliveries. You can even deliver people wherever they need to go!
7. Fill out Surveys: There are many work-from-home opportunities like Swagbucks and MySurvey where you can get paid to complete surveys.
8. Product Testing: Options like BzzAgent, Clicks Research and BetaTesting collect consumer feedback about new products and use that data to refine products before they are released to the market.

Work/Life Balance

Most people with a side hustle work a full-time job in addition to having other responsibilities. Work/life balance is a must to prevent becoming overwhelmed. Assess how many hours a week or a day you want to devote to your side hustle, as well as whether you want to work weekends. Is this something you can do from home, or would you benefit from a private shared office or coworking space?

Starting a side hustle is a great way to earn extra income and explore the possibilities of entrepreneurship without making a big commitment. It’s a good idea to do some research on your idea so that you know the viability of the business beforehand, and to consult a tax professional so you know up-front if there are any tax ramifications. We have many articles for you to refer to if you’re seriously considering starting a side hustle to see where it could lead. Refer to the following blog articles for more information:

Should I Start My Own Business?
The Importance of Developing a Business Plan
The Importance of Developing a Marketing Plan
Coworking Offices Save Start-Ups Money

Red Oak Coworking Office Suites at 409 Elm Street in Manchester NH are luxury lifestyle office suites, many with floor to ceiling or oversized windows, where you can be successful and productive.  Located in the heart of New Hampshire’s largest city, this location offers office suites, Team Suites, conference rooms and dedicated desks. Amenities here include a state-of-the-art fitness center, yoga studio, shared kitchen, business center, off-street parking with available EV charging stations, and a reception area with greeter.

Also available is our 66 Hanover Street location downtown, which offers a variety of workspaces ranging from private or shared offices to open space coworking desks with parking nearby.  Both locations have kitchen space, free coffee, tea and filtered water, free utilities and WiFi, and janitorial services.  Lounge areas and conference rooms are also available.  Contact Red Oak Coworking