Yes, you can turn your car into a money-maker by driving for Uber and Lyft, but there are other ways to convert mileage into money as a clever side business idea. One way is to do vehicle advertising, a potential side income source of anywhere between $100 to $600 per month. Whether you own a compact sedan or a full-sized bus, your vehicle’s exterior space is prime real estate for ads. Check Wrapify, carvertise, and similar sites for more details about getting started with this business idea and for being paired up with local advertisers.
Minimize the cost of overhead. “The number one thing that will kill any business is overhead,” Wolfe says, noting that high overhead costs often pile stress onto new business owners. It can be costly to rent commercial office space and set up a phone system, internet, and other services in the space. In contrast, with a home-based business, you make use of space for which you were already paying rent or a mortgage, and you can piggyback off some services that are already in your household budget, such as home internet, he says.
I see it time and time again: The number-one challenge faced by brand-new small online business owners is a lack of traffic. Obviously, if your website isn’t getting any traffic, you’re not generating any sales. And what’s worse is that without traffic, you can’t test the key components of your sales process. And if you roll out a large traffic campaign before you’ve tested your site to make sure it converts maximum visitors into buyers, you risk losing sales and looking unprofessional to potential business partners and affiliates.
44. Equipment lease: An equipment lease is a loan in which a lender buys equipment and then “rents” it to a business at a flat monthly rate for a specified number of months. At the end of the lease, the business may purchase the equipment for its fair market value. This option is great for businesses that are making small purchases and have no revenue yet.
Fashion, style, and grooming continue to be a lucrative side business idea that can be done in your hours outside of work. If you know how to mend clothes, then you have a growing market of budget-conscious and/or personalization-obsessed customers. Entrepreneur says you need around two thousand dollars to start a decent side business idea in this niche but there’s no harm in starting smaller and growing from there, as long as you can make magic with needle and thread.
We all wear clothes (at least some of the time). Which, of course, makes the business idea of cleaning soiled laundry an obvious hit. In fact, the self-service laundromat industry in the US is worth more than $3 billion, with many related businesses such as a mobile app laundry service, a real rolling mobile laundry service, and home laundry pickup & delivery services springing up each year. Here’s one way you can cash in on the trend as a side business idea.
If you have decided to operate from home, you could designate a place in your back yard for a pond. You could easily dig a pond, and put fish in it. You may have to process your water to make it suitable for young fish. You can buy small bags of fish from a hatchery near you. Make them you feed your fish with appropriate proper diet and take care of your pond or fish tank. Harvest your fish and enjoy.
Driving for one of the two globally expanding app-centric taxi alternative services, Uber or Lyft can still be a fairly lucrative way to earn money as a side business idea on nights and weekends—working only when you want. But before you dive head first into this side business idea, do your homework and calculate the costs of extra gas, mileage, tires, wear & tear and usage on your vehicle—it's not a guaranteed business idea that'll turn a huge profit every weekend.