Starting a business can be one of the most beneficial tasks you undertake to improve your financial life.
Whether you’re a recent college graduate, a busy stay at home mom, or even someone who is retired, starting a side business can generate some extra cash to help you reach your financial goals.
When many people think of starting a business, thoughts of expensive equipment or pricey advertising might come to mind. However, that’s not always the case. In fact, there are many businesses that cost less than $100 to start. I’ve listed 11 of them below.
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Furniture flipping is actually a really fun business. I’ve dabbled in this myself a time or two, and it’s a great way to make a few extra bucks if you don’t mind putting in the time. What you do is scour garage sales, Craigslist, or even the side of the road on trash day looking for furniture that’s in need of a little TLC. Then, take the time to fix, refinish, or paint the furniture, and resell it for a profit.
I’ve even been able to re-sell furniture I bought at garage sales and antique stores for a profit without updating them at all. It all depends on the price you can get it for!
Most people have heard of Uber and Lyft by now because they are the two most popular ride sharing services available. What’s great about Uber and Lyft is that there is not much of a start up cost (assuming you already have a car!).
New drivers can earn a bonus depending on the city, they're always trying to expand and you may live in a city with a big incentive. Unfortunately, the bonuses aren't published (in part because they're always changing) but you can always ask them.
There are car qualifications and you will need to update your auto insurance, but this is a business you can do on your own time and your own terms. I've taken many rides with Uber drivers who like it because of the flexibility.
Find out how to become an Lyft driver (until 1/1/18, get a $300 new driver bonus after your first 100 rides)
You can also drive for UberEATS – Instead of driving people, you deliver food. You can do this by car, scooter, or even bicycle.
My husband and I tutored as side hustles while we were dating and still in college. We both used to help kids with math on the weekends and evenings. Sometimes, we’d get paid as much as $40 per hour especially if we traveled to another town to help kids. This was a nice amount of income for college students, and it allowed us money to go on dates and even save up for a few trips. If you like teaching and helping others, this is a great, low-cost business to start.
VIPKID is a tutoring service where you teach English to Chinese students. You teach from the comfort of your own home, entirely online, to a single student. You can make up to $17-$22 an hour in 25-minute appointments, with no minimum times.
Blogging is a business that costs very little to start but does take some time to grow. I had my blog for two years before I even made a dime from it, but there are many other bloggers who learn how to produce a full-time income in 6-12 months.
You can learn everything you need to know by reading about blogging online. Some other bloggers take courses to accelerate their learning process. For me, I just learned as a went and only added on courses and the extras once I started making an income from my site.
Homemade Meal Business
When I lived abroad and started freelance writing as a business, someone I knew also started a business where he sold really delicious homemade meals. He catered to students at the local medical school who didn’t have time to make dinner but didn’t really want to order pizza for the third night in a row.
He would take orders in the morning for lunch and orders at lunch for dinner, and his business flourished. He was basically a private chef except he cooked for a group of people instead of just for one family. It was a great way for him to make an income while living abroad.
This is probably the oldest business idea around, and it stays popular because it works. I can’t even tell you how much money I’ve spent on babysitters the past three years, but it’s a lot!
If you start babysitting when you’re younger and gain experience, you can charge more. Parents love to be able to go out to dinner and know that they’re leaving their kids with someone trustworthy. Start small by offering to babysit your friends or neighbors’ children and then make sure you advertise your services on Facebook as well. Do a great job, and your business can grow simply by word of mouth.
Etsy is a great marketplace to sell your crafty goods. My sister started an Etsy store a few months ago and already earns between $1,000-$2,000 every month. She is doing a great job growing her business, and it’s helping her pay for extras like date night or new outfits for her kids.
If you have an aptitude for crafts, you might want to read about how to start a successful Etsy store. With a small investment in materials, you could be well on your way to earning a few extra hundred dollars a month!
Designing a website requires some upfront knowledge and skill. However, you’d be surprised just how much you can learn in a short amount of time. There are numerous courses on Udemy and even free tutorial videos online that can teach you the basics. If you have a knack for design and love being creative, this could be a great budding business for you.
Detailing cars is a great way to make a few extra dollars. You can start this business with a few supplies and some networking. You can start in your local neighborhood, advertise on Facebook, and offer discounts during holidays. This is a great gift people can give new graduates or dads for Father’s Day so be sure to mention this when trying to sell people on your service.
Personal Concierge/Personal Organizer
Having a personal concierge, personal assistant, or personal organizer isn’t just for the rich and famous anymore. There are many people who are busy and need someone to help them organize their closets, run errands, or help them book flights. A great place to advertise this service is on Facebook on Mom-to-Mom group boards in your city.
Being a calligrapher is becoming a more popular side hustle because people want to hire someone to hand address their wedding invitations, cards, or create beautiful, custom hand-lettering art.
In order to start a calligraphy business, you’ll likely need specialized pens, and if you’re starting from scratch, you’ll likely need to take courses to learn the trade. Luckily, there are many free guides available online as well as many affordable video courses you can watch.
When it comes to calligraphy, it really comes down how many hours you’re willing to put into practicing and of course, spreading the word about your business.
As you can see, you don't have to spend thousands of dollars to start a side business. The 11 ideas above only scratch the surface of the types of side business you can start to make extra money. Plus, who knows? You might even be able to turn your side hustle into a full-time career today. Start small with an equally small investment, and see where it takes you!
Do you have a side business? What type of business is it?