Starting a new business takes dedication and passion. If you have the right idea and some capital saved up, it's possible to make enough cash to pay yourself while working full-time elsewhere. But what if you don't want to quit your current career just yet? What if you're still in school or taking care of kids and other responsibilities? Maybe you've got an office job that doesn't leave much room for creativity or flexibility but you'd love to turn your hobby into something profitable. Or maybe you simply feel like you should try starting a small business before settling down with a regular 9-to-5 gig. There are plenty of ways to earn extra income even when you only have limited free time available. And one of those options may surprise you.
Part-time jobs aren't always about sacrificing everything else in life to pursue them. It turns out there are actually quite a few opportunities where you can set aside a couple of hours each week (or less) to get paid. Some of these gigs require no upfront cost whatsoever, so they're perfect for anyone who wants to supplement their income but isn't ready to give up their steady paycheck just yet. Others will take more effort than expected but could provide long-term financial security and independence. We'll look at all of this below. First, though, we'll talk about how exactly you go about getting started.
Yes! The U.S. government allows young entrepreneurs under age 18 to run their own businesses. In fact, most states allow minors to legally operate lemonade stands, sell homemade crafts, and perform any number of other tasks required by local regulations. You also might qualify for tax credits if you decide to open a restaurant or bar. Just keep in mind that state laws vary widely, so consult a lawyer first before diving headfirst into entrepreneurship.
There are several reasons why it makes sense to consider starting a business part time instead of full time. For starters, you won't burn through savings as quickly. Many people use their homes as collateral to secure loans for startup expenses, which means that paying off debt can slow your progress toward financial freedom. On top of that, you may find that your family has fewer demands once you move away from traditional employment. This gives you additional time to devote to building your company -- whether that means learning new skills or growing relationships with key clients.
And because you already know your way around a computer or smartphone, you can easily scale back or eliminate certain aspects of your business during times when things aren't going well. That's not to say you shouldn't stick to your plan however. Your success depends heavily upon having realistic expectations about how much profit you expect to generate. Otherwise, you risk overspending on marketing efforts or products that never bring in sales revenue. Also remember that running a part-time business often requires more research and planning ahead, since you're unlikely to produce large profits overnight.
If you think you can handle both the stress and responsibility involved in operating a business full-time, then congratulations! Starting your own venture definitely comes with rewards, including increased self-confidence and improved earning potential. However, if you prefer doing things slowly or enjoy spending quality time with loved ones rather than sitting behind a desk, you'll probably benefit from launching a part-time business. Even if it does involve some sacrifice, you'll likely end up happier overall.
Depending on your goals, it's perfectly normal to spend anywhere between 30 minutes per day and six hours per week on your business. If you're looking to launch a brand new product or service, you'll almost certainly need to dedicate more time to market development. Likewise, if you're hoping to build a sizable customer base, you should focus on attracting new customers instead of pushing existing prospects to buy.
The amount of time you invest varies depending on factors such as your expertise and experience, the size of your budget, and your availability to work outside of typical business hours. When choosing a niche, it's helpful to weigh your interest level against your ability to deliver high-quality results. If you lack confidence in your knowledge, you might choose to partner with someone who has years of industry experience. Similarly, if you're interested in creating content for online publications, you might opt to write articles instead of selling products directly. Both approaches come with unique challenges, but ultimately depend on your personal preferences.
Regardless of your situation, setting up a successful part-time business involves careful consideration of every detail. One thing to note specifically is that you must carefully manage your finances. Startups typically offer greater upside -- especially when compared to established corporations -- but are also much more risky. As a result, many experts recommend saving up at least three months' worth of living expenses before attempting anything too ambitious. Once you reach that point, you'll be able to put together a solid proposal for investors or lenders.
Another option is to seek financing via crowdfunding platforms like Kickstarter and Indiegogo. These sites allow individuals to raise funds by asking others to contribute small amounts of money towards their projects. While the process differs slightly depending on which site you use, you typically submit an application describing your project along with its estimated costs and timeline. Investors then review your proposal and pledge funding based on whether they believe you'll succeed.
While crowdfunded startups tend to garner lots of attention, it's important to recognize that they're usually far riskier than standard corporate ventures. A failure here can ruin your reputation, leaving you unable to attract future backers. Still, if you're willing to accept the risks associated with pursuing a creative endeavor, crowdfunding provides another avenue to explore.
Looking for more advice on starting a creative business? Check out our article outlining 10 tips for designing a business model.
Starting and running a successful online business requires time and effort. You need to find a niche that you're passionate about and invest plenty of hours into it every week. It's not all fun though - there will inevitably come times when you want to quit because you're too busy working on other projects. Fortunately, there are many ways to earn some extra cash by taking advantage of what we call "part-time" jobs. These jobs aren't necessarily full-time positions but they do require more than just an hour here and there each week.
If you've got creative skills like writing, designing, cooking, photography, videography, etc., these types of jobs could be perfect for you if you have enough free time at hand. There are also opportunities available where you don't even have to leave the house! Some people may wonder whether they should take up such gigs instead of their main source of income. But before rushing off to start your own business (or trying to turn your hobby into a full-time career), read through this list of best part-time business ideas below. They range from print on demand publishing services to selling food products. So whatever type of creativity you possess, you'll likely find something suitable among them. If not, why not try one of these next steps?
Part-time means different things depending on who you ask. For example, someone might consider themselves a full-timer if they spend 30 hours per month working on their passion project. On the other hand, someone else would define a part-timer as somebody who works less than 40 hours per month while pursuing their dream.
That said, let us tell you what constitutes a good part-time job. First, it has to offer flexibility so that you're able to schedule around your personal life. Second, you must get paid fairly since it's hard to build wealth if you only make $2 per hour. Thirdly, these jobs shouldn't interfere with your regular duties. And finally, they should involve activities which you enjoy doing anyway. Let us know how much you love your current profession, then check out our article on finding side jobs that pay well. Before deciding to go freelance though, you may want to look at the pros and cons of freelancing first.
It depends. A lot of entrepreneurs prefer the freedom of being self-employed rather than having a 9-5 job. However, as mentioned earlier, the amount of time you dedicate towards building your startup depends on multiple factors including financial stability, experience, resources, and dedication. To help you decide between going full-time or staying part-time, compare both options using our comparison tool. We recommend sticking with your original plan unless you feel absolutely sure that it's the right decision.
The truth is that no matter what kind of business idea you choose, there will always be easier ones to pursue. The key thing is to find something that interests you and isn't very competitive. This way, you won't need any special training or expertise to succeed. Also, keep in mind that many of these part-time ventures will never become profitable on their own. Instead, you'll need to rely heavily on advertising revenue to make ends meet. That said, here are a few examples of popular side hustles that are great for beginners:
Printing and packaging small batches of t-shirts
Photographing weddings and portraits
Selling homemade jams and jellies
Cooking and baking artisanal cakes
There are countless others besides those listed above. Check out our comprehensive guide to all possible kinds of side hustles.
This question is really subjective. Every entrepreneur has his/her preferences based on various criteria. For instance, if you're looking for a lucrative business opportunity, you may want to focus on ecommerce sites that sell physical goods. Alternatively, if you'd like to create passive streams of revenue, you may opt for digital platforms providing content creation tools.
As far as earning potential goes, think about the following factors when choosing the business model that fits your needs:
We hope that this brief overview helped shed light on the topic of part-time businesses. If you're still unsure about whether to give one of these ideas a shot, remember that there are plenty of other alternatives waiting for you. Take a peek over at our complete list of side hustling jobs and pick the one that suits your talents and goals. Good luck!
The internet has made tutoring accessible from home like never before. There are thousands of websites offering tutors in subjects ranging from English to math, accounting, music theory and so much more. The great thing about this type of work is that you don't have to provide any special equipment -- simply use the resources available to you.
"Tutoring is one of those things that sounds simple enough but actually takes quite a bit of planning," says Nick Bickley, author of Make Money Online With Your Kids. "You usually start out with a list of students, which I would recommend getting together at least once per session."
Once you've identified potential clients, you'll also need to know how long they'd prefer lessons to last (some people might only have 30 minutes while others may take two hours). Then you'll need to set up payment plans and make sure you keep track of everything via email. Finally, you should check whether the tutor is insured and licensed.
But even if you decide to go down the traditional route of teaching classes in person, you still won't get rich overnight. If you choose to teach children, then you'll need to spend lots of time preparing lesson plans and materials. Additionally, you'll need to consider costs associated with travel expenses, childcare during class sessions and insurance coverage for injuries sustained by your pupils.
On the bright side, you could potentially rake in hundreds of dollars each month depending on the number of students you manage to attract. And remember, these figures don't include the income you can generate through supplementary activities such as selling merchandise and conducting workshops.
If you think tutoring isn't right for you, then why not try something else instead? Read on to discover some more options...
How to become a freelance
Starting an online store and selling goods through Amazon or eBay has been the most popular way of earning extra cash. However, it’s not always easy to launch these types of businesses because you need to have an initial capital amount in order to purchase inventory and then set up shop.
If you don't want to go into debt just yet, there's another option - starting a small business at home that doesn't require much upfront investment. In fact, many of them can even be done while still studying full time. If you're looking for ways to make some extra money but aren't sure where to begin, here are five great options for part-time businesses you can start right now.
1) Drop Shipping
Drop shipping allows you to sell products directly from other sellers' websites rather than creating your own storefront. The benefit is that drop shippers offer free inventory management tools and payment processing services which means less hassle for consumers and no risk for you if they never buy what you sent over. You also get paid instantaneously once someone makes their first transaction so this type of business requires very little effort on your end.
Photography can help bring in some additional income when combined with your main source of revenue. There are thousands of stock photography sites available today. Many photographers post images for sale under creative commons licenses allowing anyone to use them for whatever purpose including commercial purposes. Some photographers charge between $10-$50 per image depending on its size and complexity.
3) Cookbook authoring
Cookbooks are one of the fastest growing categories in publishing. With more people cooking at home due to COVID-19 lockdowns, cookbooks are becoming increasingly popular as well. It takes about 5 hours of writing, photographing, editing, proofreading, and formatting before you can publish a book. So you'll definitely need a decent camera (if you haven't already bought one), good lighting, and lots of patience to create a successful cookbook.
4) Video production
Video may seem like a daunting task to those who have never tried shooting videos or video editing software before. But thanks to cloud storage platforms such as Google Drive, YouTube, Facebook Live, and Apple TV Plus, you can easily record short clips using your smartphone or computer webcam and upload them straight to the internet with minimal technical knowledge required. Your customers will only see high quality professional content after you complete all the steps involved in producing a video.
5) Online tutoring/teaching
Online tutors usually provide individualized lessons and assignments based on a client's needs. They typically charge anywhere between $15-$25 per hour although rates vary greatly depending on location. To find clients, simply sign up on several reputable websites such as TutorVista or Upwork. Make sure to keep track of your earnings accurately by logging each session completed and how long it took. Once you've built up enough experience, you could potentially earn around $200+ per week.
1) Graphic design
Graphic designers are in high demand especially during coronavirus lockdown times, as companies seek out new designs to update their branding and marketing materials. This industry pays extremely well, and graphic design jobs come almost exclusively via freelance networks like Fiverr and Freelancer.com. For example, a designer working on a logo redesign might receive upwards of $300 for his or her efforts.
2) Website development
Website developers build web pages for various industries ranging from restaurants to real estate agents. As website building becomes easier thanks to drag-and-drop page builders, site templates, and app builders, website developer positions become more accessible to everyone. A freelance website builder can take care of everything related to designing, hosting, and managing a website, plus SEO optimization and security. Their average hourly rate ranges from $20-$30 depending on the level of expertise needed.
3) Social media manager
Social media managers manage social media accounts such as Twitter, Instagram, LinkedIn, etc. These professionals often hire freelancers instead of hiring employees since it saves both parties time and money. Depending on the number of followers you have, you could earn anywhere between $100-$150 per month.
4) Virtual assistant
Virtual assistants handle administrative tasks such as scheduling appointments, coordinating travel plans, booking events, and handling customer inquiries. Most virtual assistants do not require any prior training and can be hired remotely. Their average hourly rate ranges from $12-$18 depending on the skill set necessary.
Writing articles for blogs, eBooks, press releases, and company newsletters is one of the easiest, quickest, and least expensive ways to generate passive income. Writers can write for different niches including health, lifestyle, parenting, food, fitness, finance, technology, education, and politics. Since the internet provides access to millions of potential readers, writers can reach hundreds of thousands of individuals within minutes. Although the pay varies significantly, freelance writers generally earn between $0.01-$5 per article.
Blogging isn't technically considered to be a "real" business, but it does allow you to monetize your blog posts through advertising programs such as AdSense and affiliate links. While blogging is quite simple, it does take considerable time and effort to grow traffic and develop relationships with influencers. After all that hard work, you might earn approximately $500-$1000 per year from sponsored ads alone.
2) Affiliate sales
Affiliates promote brands and products through banner advertisements, text link endorsements, email list signups, social sharing buttons, and pop-up windows. Affiliate marketers also participate in private groups where they discuss tips and tricks to increase conversions and drive traffic to their offers. The commissions range from 10% to 70%.
3) Freelance writing
Freelance writing involves writing original content for websites, newspapers, magazines, books, podcasts, radio shows, television, and film. Freelancing is generally done independently through personal contacts, networking, or posting adverts on job boards. Payment can either be received upon completion or requested upfront. Some examples include ghostwriting, copywriting, and research assistance.
4) Content creation
Content creators contribute to a variety of fields such as entertainment, news, fashion, sports, music, art, and culture. Examples include journalists, bloggers, podcasters, artists, filmmakers, editors, and videographers.
5) Home improvement projects
Home improvement projects involve repairing and renovating homes and buildings. Professionals specialize in plumbing, electrical wiring, carpentry, roof repair, painting, drywall, insulation, flooring installation, cabinetry, tiling, bathroom renovations, kitchen renovations, and landscaping.
1) Dropshipping business
Dropship is a form of direct retail distribution whereby retailers ship items directly to buyers. Dropshipping involves setting up an account on dropshipping stores such as AliExpress, Lazada, Wish, and Alibaba. When shopping on these stores, you place orders for specific product lines and wait until the manufacturer ships it to you. Then you resell the item to your target audience for profit.
2) Digital product creator
Digital product creator creates digital products such as apps, games, eBooks, courses, membership packages, audio recordings, and live streams. You can find countless opportunities for digital product creators by searching relevant keywords on Google and browsing the top results.
3) Food blogger
Food bloggers share recipes and reviews of eateries across the world. Search "food blogger" on Google and browse the top 100 results to find a few possibilities.
4) Personal trainer
Personal trainers teach exercises designed to improve muscle strength, endurance, flexibility, balance, coordination, and posture. They can be found in gyms and athletic clubs throughout the country.
5) Webcam modeler
Webcam models appear in front of a webcam connected to a laptop or desktop PC to display themselves and interact with viewers. Models must undergo background checks and pass a rigorous interview process.
For more information on starting an online business, check out our guide below!
This material is intended for educational and informative purposes only and should not be construed as medical advice. See a physician or other qualified healthcare provider for diagnosis and treatment recommendations.
Just follow our battle-tested guidelines and rake in the profits.