The concept of having a side hustle is not new, but it certainly has become extremely popular in recent years. I think even more so with millennials looking for ways to make extra cash.
No matter your goal for starting a side hustle, it’s a great way to: build extra income, help you learn new skills, and potentially become a full-time business.
I’ve personally had numerous side hustle ideas since graduating college in 2010 (Gasp, I’m getting old) and a few that I’ve actually pursued.
There are of course a ton of articles on this concept, but I wrote this for one reason: side hustles that have full-time income potential.
Below you won’t fast-cash side hustles, so if that was what you are looking for, sorry!
You also won’t find suggestions like Uber or filling out surveys.
These suggestions below are ones that can require some patience and have full-time income potential in the long run.
[bctt tweet=”These side hustles may take a bit of work to get started but can be well worth it. Here are 7 of the best side hustle ideas that have full-time income potential #SideHustle #MakeMoney” username=”investedwallet”]
What is a Side Hustle and How to Find the Time?
Before we go into the side hustle ideas for full-time income potential, I figured I should at least define the term and talk about finding time to work on it.
A side hustle is simply anything you do outside of your full-time gig to make extra money. Many people have been doing this for years, but opportunities have expanded thanks to the Internet.
I’ve done some domain and company naming on CrowdSpring where I generated $8,000 in 9 months. I’ve also done some marketing work for start-ups and writing.
Finding the time can be a challenge for some, especially if you already worked a long day, have kids, etc. And some side hustles will take longer to get started than others.
It’s all about finding the right balance that fits your busy lifestyle.
However, you also may have more free time than you realize. Instead of spending 2 hours on Netflix, use that time to work on your side hustle ideas.
Remember investing and sacrificing some time today, could help your finances or future later. And if it was as easy as it looks, everyone would be doing it.
The best tips I have for getting started on your side hustle are:
- Find something you are passionate about.
- Set a dedicated amount of time each week (and stick to it).
- View your side hustle as a huge potential opportunity.
- Be patient and don’t expect to quit your day job within a few months.
- Even if you fail the first time, keep going. That failure makes your next moves stronger
Here Are the Best Side Hustle Ideas That Can Lead to Full-time Income
There are tons of extra money making gigs, but many probably won’t generate a massive income for you or become a full-time business.
That doesn’t mean you shouldn’t actively pursue them if you are looking for extra cash.
And some people may make really good money off those (think mowing lawns, walking dogs, etc), but it’s not the norm.
For me, side hustle ideas are ones that can become a valuable financial asset, generate a full-time income, or let you become self-employed.
It also requires patience, passion, and the right mindset to succeed.
Here are a few side hustle ideas that have huge full-time income potential.
1. Starting a Blog
Invested Wallet is now the third blog I’ve started, but only the second one I’m taking seriously as a potential business in the future.
Blogging has become a lucrative gig and has become one of the most popular side hustle ideas people gravitate towards.
However, growing it and making money does not happen overnight.
Building an audience takes time. Writing great content takes time and patience. Plus, you’ll have to learn some marketing basics to help you succeed.
And it also may take spending some money upfront just like any business but will cost much less to start.
However, the asset you create for yourself by starting a blog on WordPress is completely worth it.
I started this blog quickly and easily on Bluehost, with less than $200. That included the domain, SSL certificate, and three years of web hosting paid. I’ve already made that money back in a few weeks.
However, I did invest in a proper WordPress designer to ensure a pristine website. But that’s up to you. There are plenty of themes you can buy for under $60.
You also don’t have to choose Bluehost as there are other great hosting platforms, it’s just the one I choose because:
A. I get paid an affiliate that also offers you a discount if you sign-up.
B. I genuinely have had nothing but great service from the team.
How your blog can make full-time income:
I’ve seen tons of people quit their 9-5 and work on their blogs full-time. Even in the personal finance space look at examples like Making Sense of Cents, Millennial Money, etc. Countless others, doing six to seven-figures a year!
Here are a few ways your blog can make money:
- Sponsored posts
- Affiliate income
- Ad placements
- Brand partnerships
- Sell courses or ebooks
- Freelance work from your site
- Business opportunities (book deals, speaking gigs)
- Can sell the website or be acquired
Related: Looking for more? Here’s How To Start A WordPress Blog and Begin Building Passive Income
2. Dropshipping Business
A dropshipping business also has massive potential to generate full-time income, without working 40 hours a week. Yet, similar to blogging, this requires some patience and some upfront costs.
What is dropshipping? It’s where you have a store that doesn’t keep the products it sells in stock.
Instead, when you sell a product, you purchase the item from a third-party and then that third-party ships directly to the customer. As a result, you never have to handle the product.
But for you to be able to work with legit wholesalers or manufacturers, you’ll need to legitimize your business. By that, I mean getting a LLC and a tax ID number, otherwise, these third-party vendors won’t take you seriously.
There are tons of advantages of this model and of course some disadvantages too.
Two friends of mine do this via their eBay store and do over a million in sales per year. It took them about 2 years before they could quit their jobs and do their dropshipping business as their main gig.
I’ll tell you this, they certainly are not working 40 hours a week now to make a comfortable living.
Other people who have explored dropshipping create their own stores via Amazon, Shopify, WordPress, BigCommerce, etc.
If you are looking for more about how to get started, this massive free guide from Shopify covers everything you need to get started as a beginner.
3. Amazon FBA
I mentioned in the dropshipping section that people use Amazon to make their stores, just like on eBay. However, there is another full-time income opportunity with Amazon called Amazon FBA.
This side hustle idea has gained a lot more traction in the least few years, but still has plenty of room for people to succeed.
The “FBA” stands for Fulfillment by Amazon and it is a service that lets you store your products in Amazon’s fulfillment centers. They then pick, pack, ship, and provide customer service for these products on your behalf.
Many people do this with their own products, but you can actually do this similar to a dropshipping method.
Essentially, you can find products from wholesalers you like, purchase those products in bulk, send to Amazon, and then sell those products via Amazon.
If it sounds like a money-scheme to you, trust me it did to me at first too. But the more you dive into the process, the more you realize it can be an incredible money opportunity.
This is not a get-rich-quick side hustle either.
An Amazon FBA business takes time, there may be some trial and error to find viable products, and can be a lot of work upfront.
But, once you get it working and figure out your process, you can be rewarded nicely and have an asset you can flip if it becomes profitable.
Here is one of the best online articles I’ve read about how to get started, finding products, etc.
If you are interested in the idea and building an FBA business, I’d start there. Also, you can find plenty of success and failure stories online and on Youtube.
4. Website Domain Flipping
I’ve personally owned and invested in a few domains, but none that were really worth flipping. Most were ideas for websites I had that just never developed.
But a great side hustle that can be relatively easy and fetch you full-time income is flipping domain names.
You can literally make five-six figures in a couple months off one domain name. And the return percentage you can get for your investment can be over well over 500%. You are not going to find that in stock investing.
The Internet has opened so many doors to make money.
Plus, more people creating blogs or opening up online stores means more people looking for the ideal name.
Whether you buy a domain relatively cheap or get a good deal from a domain marketplace, that domain can be very valuable to a big brand or other entrepreneurs.
However, the short “.coms” are the most attractive, yet are also getting harder to find good available ones to invest and hold.
Yet, there are many other variations like .org, .co, .io, .biz, etc. that are also popular. I still don’t know how investedwallet.com was available when I started this blog! But glad I nabbed it because it’s an ideal domain name.
But many web registrar companies also have their own marketplace to sell domains or buy from others.
There are also other places like Flippa where you auction off your domain. Take a look at the prices of some domains that are selling on there, some big money in domain selling.
Again, this is not something you’ll get rich overnight. But if you do your research, purchase good names, and make smart investment choices in the names, you can start to pull five-six figures a year in passive income.
Interested in learning more? Check out this guide to domain flipping.
5. Flip Items on eBay
Many of us probably have had stuff we didn’t want anymore and tried to sell it online, or if anything, at a garage sale.
But with a powerful place like eBay and the many others like it now, you can make some serious cash flipping stuff on these sites.
A neighbor of a friend actually does this as his full-time job. He works a few hours a week finding specific items, listing them, and shipping them.
He’s not a millionaire off it, but he was doing about $80,000-$90,000 a year doing 25-30 hours of work a week. Uh, pretty awesome right?
Now, if you listen or watch any of Gary Vaynerchuk’s video, he is big on garage sales and looking up items he can flip online for a profit.
If you have not see his garage sale video yet, aren’t familiar with it, or want a little motivation, watch this embedded video below.
What’s involved? Getting up early on weekends and hitting up a bunch of garage sales. Also, you can go to auctions or local antique shops.
The cool thing is you can search anything on your phone while shopping and look up items that are going for 20-30% higher than the asking prices. And of course, you could negotiate a bit too to try and get a better deal.
As far as side hustle ideas go, this can be a few hours of your time a weekend that can give you an extra $500-$1,000 a week.
Many people average higher than that and if you get really good at finding your niche items, you can start pulling some serious coin.
6. Consulting Business
If you have specialized talent or skill that can benefit other brands and companies, starting a consulting business could be a good side hustle for you.
This one might take the most time to get rolling, but again, can start generating five-six figure income.
The challenge here is networking, building relationships, and proving your skill sets.
Plus, you’ll need to figure out your game plan, website, your pricing for your knowledge and time, etc. However, once you start to build some credibility and have a process in place, it becomes easier to get business.
You can start a consulting business in a lot of niches, some that come to mind:
- Marketing consultant
- Brand consultant
- Finances and business
- HR consultant
- IT and digital consultant
- Social media consultant
When you do your research, be careful not to fall into any scam courses. There are tons of people selling and promising the world for your consulting business. If it sounds too good to be true, it usually is.
There are some legit courses and information out there too, just do your homework. Remember, this is not going to make you rich overnight.
The goal is to start your side hustle, make some extra money, and work on building it into a next level income machine. You can find some more consulting business info here.
Starting a freelance business is pretty similar to consulting, except instead of just providing expert advice as a consultant, you are executing or doing the work too.
Freelancing also has a huge wide range of options, so whatever you are passionate about or skilled at can be a freelance offering.
Some freelance opportunities that come to mind:
- Graphic design
- Digital marketing
- Website builder
- App coder
- Online tutor
Before I got into blogging, I was doing a bit of freelance work. Mostly doing writing gigs and digital marketing jobs. Both of which paid me some extra money, but enhanced my career at the same time.
When I was dabbling a lot in freelance work, I could generate anything from a few hundred bucks a week, up to $1,000.
That extra money can really help you save more, pay extra on debt, or invest back into yourself and your side hustle.
Many people gravitate towards freelancing because of the work flexibility and being able to choose what work to do.
Businesses also like to hire freelancers because it saves them money by not hiring a full-time employee, less office space needed, saves on taxes, etc.
There are tons of ways to find work too.
Remote job boards that you can filter for freelance or contract work, you can look for businesses that fit your niche and just reach out, go to networking events, etc.
If you are looking for more about starting a successful freelance business, check out Ryan Robinson’s post about the steps you need to take.
The above seven side hustle ideas are those that have the most income-generating potential. And the above can also become your self-employed full-time gig as well.
There are some others side hustle examples that probably come to mind, but based on my experience, research, and people I know, these are some of the best.
This post was previously published on Invested Wallet and is republished here with permission from the author.
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