There are many side hustles, but which can produce a full time income? Below, we’ll discuss this and other topics.
It is not a new concept, but the idea of a side job has certainly gained in popularity over recent years. Even more so, I believe, with millennials who are looking for extra money.
It doesn’t matter what your goals are for starting a part-time job. You can use it to earn extra money, learn new skills and even turn it into a full time business.
Since graduating from college in 2010, I have had many side hustle ideas (I am getting older) and some that I actually pursued.
This concept is well-known, but I chose to write this article for a single reason: Side hustles with full-time earning potential.
If you were looking for side hustles that would pay you fast cash, then we’re sorry. Also, you won’t see suggestions such as Uber or filling in surveys.
These are suggestions that require patience but can lead to a full-time job in the end.
Table of Contents
What is a Side Hustle? And How Can You Find Time for It?
The best side hustles that can lead to full-time income
Final Thoughts
What is a Side Hustle? And How Can You Find Time for It?
I thought I would define side hustles and discuss how to find time to do them.
Side hustles are anything that you do to earn extra income outside your regular job. The internet has opened up new opportunities for people who have been side-hustling for many years.
I have done some domain and business naming work on CrowdSpring, where I made $8,000 in nine months. I have also done marketing for new businesses and written.
Some people may find it difficult to find the time, especially if they already work long hours, have children, etc. Some side hustles take more time to start than others.
Finding the balance to fit your hectic lifestyle is key.
You may also have more time than you think. Use the time you would have spent watching Netflix to develop your side hustle.
Remember that investing today and sacrificing time could benefit your future or finances. If it were as simple as it appears, everyone would do it.
What are the best tips you can give to get started with your side hustle?
Find something that you love.
Fix a weekly time limit (and keep it).
Consider your side hustle an enormous potential opportunity.
Don’t expect that you will be able to quit your job in a few short months.
Keep going, even if your first attempt fails. This failure will make your next steps stronger.
Side Hustle Plan
The best side hustles that can lead to full-time income
You can make extra money in many ways, but most won’t be able to provide you with a large income or turn into a full-time job.
It doesn’t necessarily mean that you should not actively pursue them, if you’re looking to earn extra money. Some people make a lot of money from these (mowing lawns or walking dogs for example), but that’s not normal.
I look for side hustles that will help you earn a living, provide you with a steady income or allow you to work on your own if you so desire.
To succeed, you also need patience, passion and the right mindset.
- Start a blog
Invested Wallet, my third blog, is the only one that I take seriously as a future business.
Blogging is a popular side gig that has grown to be a profitable business.
It is not possible to make money and grow it overnight.
Building an audience takes time. It takes patience and time to create great content. You’ll also need to understand some basic marketing principles to succeed.
It will also cost less than any other business to get started.
The asset that you create by creating a WordPress blog is worth the effort.
Bluehost was a great place to start a blog for less than $200. This included the domain name, SSL certificate and three years web hosting. In a matter of weeks, I have already made back the money.
But I did hire a WordPress designer who was able to create a flawless website. It’s entirely up to you. You can find plenty of themes for less than $60.
Bluehost is not the only great hosting platform. There are many others. I chose Bluehost because:
A. I am paid by an affiliate who also offers you a discounted rate if you sign up.
B. I have received nothing but excellent service from this team.
How to make a full-time living from your blog:
I’ve seen a lot of people give up their 9-5 jobs to work on their blogs. Look at personal finance blogs like Making Sense of Cents or Millennial Money. There are countless others who make six- to seven-figures per year!
Here are some ways that your blog can earn money:
Sponsored posts
Affiliate Income
Advertisements
Brand partnerships
Sell courses and ebooks
You can now hire freelancers to work on your website
Consulting/Coaching
Business Opportunities (book Deals, Speaking Engagements)
Websites can be purchased or sold
Want to know more? Here’s how to start a WordPress blog and begin building passive income
- Dropshipping Business
Dropshipping businesses can also generate a full-time income without having to work 40 hours per week. This business requires patience, and it also has some upfront costs, just like blogging.
What is dropshipping? Dropshipping is when you run a store and don’t stock the products that are sold.
When you sell a particular product, the item is purchased from a third party, who then ships it directly to the client. You never need to touch the product.
You’ll have to legalize your company in order to be able work with legitimate wholesalers and manufacturers. This means getting an LLC and a Tax ID Number. Otherwise, third-party vendors will not take you seriously.
This model has many advantages and disadvantages.
Two of my friends do this through their eBay stores and make over a half million dollars in sales each year. They had to wait about two years before they were able to quit their day jobs and make their dropshipping businesses their primary business.
They aren’t working 40 hours per week to earn a living.
Dropshippers who create their own online stores on Amazon, Shopify or BigCommerce are not the only ones.
This massive guide is free and covers all you need to know to start as a novice.
Shopify is the best platform to use if you want to start a legitimate dropshipping or ecommerce business. Shopify is the easiest platform to use and has a great user interface. Start with a free trial.
- Amazon FBA
In the dropshipping section, I said that people also use Amazon to create their own stores just like eBay. There is another Amazon FBA full-time job opportunity.
This idea for a side hustle has been gaining more popularity in recent years. However, there is still plenty of room to grow.
FBA stands for Fulfillment By Amazon. This service allows you to store your products at Amazon’s fulfillment centres. Then, they pick, package, ship and provide customer support for your products.
This is something that many people do with their products. However, you can do it in a similar way to dropshipping.
You can buy wholesale products, ship them to Amazon and then sell the products.
It sounded like a money scheme to me too at first. The more you learn about the process, however, the more it becomes apparent that this can be a great money-making opportunity.
It’s not a side hustle that will make you rich overnight.
Amazon FBA takes time. There may be some trials and errors to find products that are viable, and it can be a great deal of work up front.
Once you figure out how to make it work, and you have a process that works, you will be rewarded handsomely and you’ll also have an asset which you can sell if it turns profitable.
This is the best article I’ve ever read on how to start, find products, etc.
Start there if you’re interested in learning more about FBA and how to build a business. You can also find many success and failure stories on YouTube and online.
- Flipping Domains for Websites
I have personally invested and owned a few domains but none of them were worth flipping. The majority of them were just ideas I had for websites that never materialized.
Flipping domain names is a side hustle you can do that’s relatively simple and earns you a full-time salary.
One domain can earn you five or six figures within a few months. You can make a return of over 500% on your investment. Stock investing does not offer that kind of return.
Internet has opened up so many opportunities to earn money. The Internet has opened up so many doors to make money.
If you purchase a domain at a low price or find a great deal on a marketplace, it can be very valuable for a large brand or other entrepreneurs.
The short “.coms”, however, are the most appealing, but it is becoming harder to find them to buy and hold.
There are also many other variations, such as.org.,.co.,.io.,.biz etc. These are also very popular. I don’t even know how investedwallet.com became available when I began this blog. It’s a great domain name, so I am glad I grabbed it.
Many web registrars also offer their own marketplace where you can sell or buy domains from other people.
You can also sell your domain on other sites like Flippa. Look at the prices for some of the domains being sold on Flippa. There is some serious money to be made in domain sales.
This is not something that will make you rich over night. If you do the research, buy good names and make smart investments in those names, you could start earning five to six figures in passive income each year.
Are you interested in learning more about domain flipping? This guide will help you learn more about domain flipping.
- Flip Items on eBay
We’ve all probably had things we no longer wanted and have tried to sell them online or at a garage sales.
You can earn a lot of money flipping items on sites like eBay.
This is a full-time occupation for a neighbor of a close friend. He spends a few hours each week searching for specific items, listing and shipping them.
He wasn’t a millionaire, but he made between $80,000 and $90,000 a year working 25-30 hours a week. Uh, that’s pretty amazing right?
Gary Vaynerchuk is a big fan of garage sales, and he’s always looking for items that he can sell online.
Watch this video if you’ve never seen it before, don’t know what it is, or just want some motivation.
What is involved in eBay Flipping?
Garage sales are a great way to spend your weekends. You can also visit local antique shops or auctions.
You can use your phone to search for items at prices that are 20-30% more expensive than what they ask. You could also try to negotiate for a better price.
This can be done in a few weekends and earn you $500 to $1,000 a week.
You can make a lot more money if you are good at finding niche items. You can also consider thrift store flipping. You can sell these items on eBay.
- Consultancy Business
A consulting business is a great side hustle if you have special talent or skills that you can use to benefit other companies and brands.
It may take a while to start, but it can generate income in the five-six figures. Here, the challenge is to build relationships and prove your skills.
You’ll also need to decide on your website, pricing, and game plan. Once you have established some credibility, and have a system in place, getting business becomes easier.
There are many niches in which you can launch a consulting firm. Here are a few that spring to mind.
Marketing consultant
Brand Consultant
Finance and business
HR Consultant
Digital consultant
Social media consultant
Be careful when you are doing your research to avoid scams. Many people will try to sell you their consulting business and promise the world. It is usually true if something sounds too good to believe.
Do your research. This is not going make you rich over night.
Start your side hustle to make extra money and then work towards building it up into a high-level income machine. Here are some additional consulting business information.
- Freelancing
It is similar to consulting in that you provide expert advice, but instead of only providing the advice, you also execute or do the work.
There are many options for freelance work. You can offer your services in any area you’re passionate about.
Listed below are some freelance opportunities to consider:
Writing
Photographs
Graphic Design
Digital Marketing
Website Builder
App coder
Online tutor
Before I started blogging, I did some freelance work. I did a lot of writing and digital marketing work. I earned some money from both, and they also helped me to advance my career.
When I dabbled in freelance work a lot, I could earn anything from a couple hundred dollars a week to up to $1,000.
You can use the extra cash to save more money, pay off debts or invest in yourself and your side business.
Freelancing is popular because it offers flexibility in the workplace and allows you to select what type of work you want to do.
Freelancers are also hired by businesses because they save money, as there is no need to hire a full-time worker, and less space is needed in the office. They can also save on taxes.
You can find work in many ways.
You can search for companies that match your niche, and then reach out to them, attend networking events, etc.
Check out Ryan Robinson’s blog post to learn more about how to start a successful freelancing business.
Want to find quality remote work for yourself? Sign up for Flexjobs to get access to the best remote and freelance work. Get started with Flexjobs by clicking here.
Final Thoughts
These seven side hustles have the highest income potential. You can turn any of the above into a full-time job.
Other side hustles may come to mind but these are the ones that I have found most successful based on research, my own experience and those of people I know.
What is the value of a side business?
It is worth it to do a side hustle. You can earn a good amount of money that you can use for paying off debts, investing or saving. You will spend more time working which can be exhausting if you work full-time.
What is the best way to make money on the side?
You can choose the best side hustle based on your experience, your skill set, your time commitment, and your goals. You’ll find a wide variety of side hustles to try out!
