5 Side Hustles That You Can Turn Into a Legitimate Business
Increasingly, the traditional 9-to-5 is becoming a thing of the past in the face of the growing gig economy. It may seem like this would result in less job stability; however, that does not necessarily need to be the case. The gig economy offers more flexibility than traditional jobs. As such, people can find work that better suits their financial goals, whether they need a job for experience, a one-time purchase, to pay off debt, or for good old-fashioned survival.
Not only is balancing part-time work a perfectly comfortable option for many people, but it is also possible to turn a side gig into a full-blown small business. There are many options, but the following fields are particularly good candidates for finding a part-time job to turn into a full-time job.
A traditionally stable job choice, basic bookkeeping largely consists of relatively simple, but time-consuming and sometimes technical tasks. It is also a task that businesses often need to outsource, which can create a lucrative marketplace for gig workers.
The fact that simple math skills are required makes the barrier to entry relatively low, and that many businesses just need some part-time assistance with bookkeeping makes this work a great side hustle option. Meanwhile, the great demand for bookkeepers also means that plenty of full-time jobs are available as well. This career is fairly easy to break into by building experience through part-time jobs. It is also a great option for remote work.
2. Home and Garden Maintenance
There are a variety of home and garden maintenance projects that can appeal to different skills and personal preferences. People who are handy with home repairs, people who love to clean, people who love to garden or landscape, and people who like to organize and decorate could all thrive in home and garden maintenance.
Such jobs are ideal as a side job due to the great variety of jobs available (different duties, different schedules, different lengths of time) which make them a versatile option for someone who needs to work around their schedule. However, these jobs do not have the benefit of remote options that many side gigs do. In terms of turning home and garden maintenance into a full-time job, doing part-time work can help you network with people who may need such work done regularly.
According to the United States Census Bureau, by 2030, 1 in 5 Americans will be of retirement age. This is due to the retirement of baby boomers, also known as the “largest generation.” This phenomenon is expected to result in the “Baby Boomer Retirement Crisis,” which will (among other things) involve a shortage of workers and a very high demand for retirement funding and care for the aging boomers. Both aspects of this will have a strong impact on demand in the medical and caregiving fields.
Caregiving is great as an entry-level and/or side job because it does not require a lot of experience, and is in demand on both a part-time and full-time basis. It is also a great part-time job for those studying in the medical field for jobs like nursing. In the next few decades, as more of the boomers retire, the industry will be in more and more urgent need of full-time caregivers with experience.
Tutoring is another relatively evergreen job choice. It also allows for a variety of specialties, both in clientele and subject matter. Tutoring is in demand virtually all age groups, from kindergarten to college and beyond. Additionally, it can call for specialties in a variety of areas; whether you excel at foreign languages, math, or something else entirely, you are likely to find tutoring opportunities that coincide with that.
Tutoring can be a gateway to several other jobs. Happy clients may refer you to others, allowing you to tutor full-time. You may tutor on the side while working up to be a teacher. Or, with the experience you’ve gained, you may be able to work for an accredited tutoring center.
Going along hand-in-hand with the gig economy and growing remote options, freelancing is becoming increasingly popular. Freelancing is essentially the poster child for the gig economy, allowing people to largely cultivate their own work life, from work hours, to client base, to skillset.
Freelancing is a viable option for almost any career: writing, graphic design, web development, administrative tasks, and many others are all very accessible career paths for a freelancer. As a freelancer gains experience, they may expand their freelancing career to a full-time schedule, use freelancing to find a niche within a specific company they enjoy, or to build their work into a full-blown business.
Side hustles can be found in almost any area of work, but not all of them are well-suited as a transition to a full-time career. This is especially true of starting your own business, which is usually a difficult endeavor under the best circumstances. If you decide to take that route, the experience is great, but you will need to make sure you have a thorough plan and a hefty fund to get started. Saving money, getting loans, and selling structured settlements or annuities are all good options for kickstarting a fledgling business. However, despite the additional work involved, a major benefit of growing your own business from a side hustle is that you will have had the opportunity to test the waters of the industry before committing so much time and energy to the process.