Are you finding it harder and harder to make your paycheck last? Do you struggle to keep on top of your bills? Maybe you’re in the middle of planning a wedding or a family vacation and you could do with a big injection of cash? Whatever your situation, how you think about money affects how you deal with it and taking on a side hustle might just be the key to helping you smash your financial goals. But what counts as a side hustle? Do you need experience and qualifications to get started? Let’s answer that question and cover some of the most unusual business models that could be turned into a side hustle.
Do You Need Qualifications and Experience for a Side Hustle?
The answer to this question is yes and no. If you want to be successful in something like graphic design or coding, you’re going to have to go to college to get a degree. Going to college can be expensive, so you’ll want to find scholarships that you are eligible for if you want to get help paying for your degree. You can search online for scholarships for college students to see what offers apply to you. If you want to avoid going to college and you’d prefer to do something that doesn’t require as much skill, think about taking an online course in marketing. You can learn more about Facebook Ads, SEO and Google Ads and, once you’re finished the course, you can look online for companies that want to hire a freelancer in this field.
The Banana Bread Model
We often tend to go for the big, flashy wins and overlook the riches and opportunities that come with simple ways of doing business and getting ahead. Introducing the Banana Bread model. It stems from two women in Hawaii who created an amazing business baking banana bread locally and selling it to tourists along the road to Hana. They are so well known that people travel from miles just to get their hands on the tasty bread. If each loaf sells for $7 and they produce 100 per day, their annual revenue is over $250,000. Not such a bad return for selling banana bread, right? The takeaway here is don’t let the small numbers deter you as they can add up to some pretty epic wins. Side hustle suggestions using this business model include baking cakes, selling your artwork, and eBay arbitrage.
Local Delivery Service
With the pandemic, online shopping and home deliveries became the norm. The options in cities and big towns were plentiful but people living in smaller towns and remote areas didn’t benefit from delivery services as they were outside the designated areas. If you are an entrepreneur looking for your next side hustle, consider going into the hyper-local delivery service business. Or why not take one step further and offer a personal shopping assistant service too? It’s simple; get your neighbors to contact you and tell you want they want from the store. You go shopping for them, deliver the goods and collect cash on pickup. It’s an easy way to make an extra few dollars and help out in your local community.