Beginning a new side hustle is more often than not an expensive experience but if you dig deep, you’ll discover that low-cost ideas still exist for aspiring or lean entrepreneurs with unique and valuable talent.
Have a firm knowledge of the sellable kills you currently have, recommends Holly Reisem Hanna, founder of career blog, The Work at Home Woman. Make a list of your previous jobs, trainings and educational achievements to help you take cognizance of vocational interests and patterns that can help you in your search for your new business venture.
“In this exercise, you want to go deep,” she says, “so include what you liked and didn’t like about past jobs, training and schooling.”
If you need more small business ideas to get going, you definitely want to consider these tested and trusted business ideas you can start without any immediate costs:
A lot more businesses and companies are turning to freelancers to reduce their in-house costs and this presents an opportunity for freelance designers, writers, animators etc. an opportunity to share their talents with a wide range of clients.
The American Pet Products Association, says that pet owners in 2016 spent an estimated $66.8 Billion on their four-legged friends, with almost 6 billion of that amount going towards grooming and boarding.
If you have a passion for pets, you can start by rendering a pet-sitting or dog-walking service for little to no capital at all. You can then go further by becoming a trainer although you will have to invest in a certification to give your business more credibility.
The fitness craze reached a crescendo in 2017 and considering the fact that you can start out without any real costs, it makes sense to cash in on it if you are athletically blessed. You can begin by concentrating on body-resistance exercises in parks and other public spaces. You can of course, take your hustle to a new level by investing in weights, resistance bands and other exercise gear to fast track your clients’ progress and have them coming back to you for more.
Although there are no state or federal laws that control who can or cannot call themselves a personal trainer, you are advised to get certified by an authoritative industry organization. This will usually involve some costs but it’s definitely worth it. You’ll also want to have liability insurance in case any of your clients suffer injuries during training.
On a daily basis, home repairs and maintenance have a way of accumulating so if you have a natural inclination towards house work, you may want to consider putting yourself up as a master of manual labor. Begin by gaining expertise in a particular niche like landscaping or painting to help you build some credibility among clients.
Consulting and teaching
Your most valuable assets are the skills and knowledge you already have. So you may want to consider selling your well-honed skills if you are a math guru, musical wonderkid or grammar guru. Although you may have to spend a few bucks to publicize your services beyond your family members or social media friends.
But entrepreneur beware
However, it is recommended that you avoid working in industries like healthcare because the standard of operation in such areas is generally very high thus making the guidelines hard to navigate. Even outside highly regulated industries, there are some common dangers to avoid when pursing your side hustle.
- Don’t put your main job in jeopardy – In most cases, you’ll need to have a full-time job to help you generate income while your new hustle is gearing to take off. It’s also important you don’t allow your side hustle adversely affect your main job. You might also want to recheck your contract and ensure that there isn’t a non-compete clause signed with your full-time employer.
- Have a good look at certificates and licensing – It is important that you keep overhead costs low but there are some corners that you just cannot afford to cut. Even if you’re starting a business off your skills like baking or hair dressing, it is important that you follow regulatory guidelines for your industry. If you intend operating your business from home, ensure that your home insurance covers whatever incident may arise from the operation of the business.