Thinking about starting your own business? You’re not alone. Business formation has been booming in the U.S. since 2020. Whether you’re looking to dive in full-time or start a side hustle while keeping your day job, entrepreneurship is a great way to boost your income, secure your job, and experience the thrill of being your own boss.
So, what’s the best side hustle for you? There are thousands of opportunities out there. Whatever you choose, remember to start with a frugal business budget and a bank account designed for entrepreneurs.
Want to save on business expenses? With Capital One Business Deals, you can save up to 30% or more on essential business purchases. You don’t even need a Capital One business bank account to join. In just 30 seconds, you can start enjoying deals from over 100 partners, including big names like HP, Priority Pass, Total Wine & More, Coursera for Teams, Verizon, and FedEx.
As for your business finances, consider setting up a small business banking account with NorthOne. It’s designed for small business owners and side hustlers, allowing you to manage your money from anywhere.
Now, let’s talk about some side business ideas you can start today. Some are easy to get into, while others require more time and capital. Here are a few options:
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Invest in Real Estate: Don’t be intimidated by real estate investment. Platforms like Roofstock make it easy to invest in rental properties, even in places you’ve never been. If you’re not interested in being a landlord, consider investing in syndicated commercial real estate through DiversyFund.
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Become a Swing Trader: Swing trading is a strategy that leverages temporary price swings in equities markets to generate profits. It’s an advanced strategy with a significant risk of principal loss, so never invest more than you can afford to lose.
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Become a Tutor: If you’re skilled in a certain area, you can use your knowledge to help others succeed. You can start by posting flyers at local schools and libraries, or sign up with Wyzant to become an online tutor.
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Become a Delivery Driver: Companies like UberEats and DoorDash are always looking for drivers to deliver food from restaurants. If you prefer groceries, consider Instacart.
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Start a Blog: If you love to write and don’t mind hard work, blogging could be a great business idea for you. You can earn passive income through advertising, affiliate marketing, selling products, writing e-books, or starting a podcast.
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Rent Your RV: If you own an RV that sits unused for months, consider renting it out online through platforms like Outdoorsy and RVshare.
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Walk Dogs or Pet Sit: Starting a neighborhood dog walking or pet sitting business is an inexpensive way to earn extra money. You can sign up with Rover.com to get started.
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Drive for Uber or Lyft: Becoming a part-time rideshare driver has quickly become a popular side business. If you already have a car, there are no startup costs.
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Become a Virtual Assistant: Virtual assistants provide remote administrative assistance to busy professionals and small businesses. The VA industry is growing rapidly, with VA hiring increasing by 41% in 2020 compared to the year before.
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Become a Child Life Coach: A child life coach helps children develop important life skills that their parents might not have time for and that schools don’t teach.
And many more! Remember, the best business idea is the one that truly excites you. When you’re passionate about what you’re doing, you’ll have no trouble keeping going when things get tough.
