Are you looking to make extra money or pursue a new interest by starting a new side hustle? You’re not alone. Side hustles are on the rise, with an increasing number of people looking to top up their income or chase a dream they’re passionate about.
Whether you’re a student, employed full-time, or simply looking for something new, there are plenty of side hustle options. In this article, we’ll look at eight of the best side hustles for 2023 and tips for getting started.
What is a side hustle?
A side hustle, also known as a side gig, refers to any type of work or income-generating activity that a person pursues outside their primary job or occupation. It’s typically done part-time, often to supplement an income or help someone pursue a personal passion, interest, or entrepreneurial ambition.
Side hustles help people diversify their income streams. They have become increasingly popular in recent years as technology has made it easier to find work opportunities online. In fact, a survey from Lending Tree found that nearly 44% of people have a side hustle — up 13% from 2020. This highlights just how popular side hustles have become.
While some people may only work on their side gigs for a few hours a week, others may dedicate more time and effort to building their ideas into full-time businesses.
Benefits of starting a side hustle
Starting a side hustle has many benefits, including the potential to increase your income and gain new skills or experience. A side hustle can also be an ideal way to explore creative interests, build a portfolio, and escape the 9–5 routine. We’ll delve into some of these benefits below.
Increase your income
One of the most obvious benefits of starting a side hustle is the opportunity to increase your income. A side hustle can provide an additional stream of revenue, which can help you pay off debt, save for a big purchase, or improve your quality of life overall.
Gain new skills and experience
Starting a side hustle can also help you gain new skills and experiences. Depending on the type of side hustle you choose, you may have the chance to learn new technical skills, such as coding or graphic design.
You could also work on and improve soft skills, such as time management and communication. These opportunities can help you in your current role and make you more marketable in the future.
Explore creative interests
Starting a side hustle presents the perfect opportunity to explore your creative interests while getting compensated. Whether it’s photography, illustration, writing, or something else entirely, a side hustle can allow you to explore your creativity without the pressure of making it your full-time job.
Build a portfolio
Another benefit of starting a side hustle is the ability to build a portfolio. Depending on the type of side hustle you choose, you can create a body of work to showcase your skill set and experience to potential employers or clients.
This can be especially helpful if you want to switch careers or start your own business — you can use your portfolio to impress potential clients and land new gigs.
Escape the 9–5 routine
With nearly 5% of Americans over 25 holding more than one job in 2022, it’s no wonder many people are looking for alternatives to the traditional 9–5 job. Starting a side hustle can provide an opportunity to break out of the conventional work routine and find meaningful work that aligns more with your interests or goals.
Additionally, if your side hustle becomes successful enough, you may be able to quit your day job to pursue your passion full-time.
Develop a passion project
Starting a side hustle can allow you to develop a passion project — anything from creating an online course to starting a podcast. Turning your passion into a side hustle can give it the attention it deserves and potentially turn it into a full-time business.
Test an entrepreneurial idea
Finally, starting a side hustle can be a great way to test an entrepreneurial idea without requiring too much risk. By starting small with a side hustle, you can determine whether or not your idea is viable before committing to it full-time.
This can save you time and money in the long run and help you make informed decisions about your future career path.
Best side hustles to start in 2023
If you’re ready to start a new venture, there are plenty of great options. Here are the best side hustles to start in 2023:
Freelance writing
Freelance writing can be a great side gig for anyone who enjoys writing and wants to earn some extra income. With the flexibility it gives you to work from home and create your own schedule, freelance writing can help you balance your work with other commitments, such as a full-time job or family responsibilities.
This is a great side hustle for those looking for creative ways to make money. Plus, you can choose the topics that most interest you and make your own schedule. The average annual salary for freelance writers is $69,510, highlighting the potential for financial success from this side hustle.
Food delivery services
This side hustle is becoming increasingly popular with the rise of food delivery services like Uber Eats and DoorDash. It allows you to make extra cash while exploring your city and meeting new people. You can also set your own schedule with this side gig.
Earnings in this role can vary, with the average Doordash driver making between $2 and $10+ per delivery. This can be a lucrative side hustle for those who are looking for ways to make extra money and are okay with being on the go.
Online surveys
Many market research companies and brands pay individuals for their opinions and feedback on products, services, and advertisements. You can complete online surveys from the comfort of your home or on the go with a mobile device, making them a convenient way to earn money.
While the pay for completing online surveys can vary depending on their length and intricacy, this can be a simple way to earn a few dollars or gift cards in your free time. However, there are some limitations, such as specific qualifications, which can limit the amount of money you can earn.
Social media management
Freelancing as a social media manager is a great side hustle if you want to use your digital marketing skills. Many business owners and organizations seek people with experience in social media management, social media platforms, and building a brand’s online presence.
The average salary for a social media manager is $54,791, though this depends on experience and the organization’s size. Starting a social media side hustle is a great way to learn more about digital marketing and gain valuable skills for the future.
Starting an ecommerce platform
For those looking to build an online business from the ground up, starting an ecommerce platform can be a great side hustle. As of 2021, there were 96.9 million social buyers, and that number is expected to grow by 18% by 2025. This means now is an excellent time to start a side business selling products online.
Starting an ecommerce platform requires research, dedication, and a bit of technical know-how, but it can be gratifying. You’ll need to choose a platform for your store and determine which products you’ll sell and how you’ll market them, but this is a great way to express your creativity — and make extra money at the same time.
Dropshipping
The dropshipping business is projected to reach $557.9 billion by 2025, and this makes it a great side hustle for those who want to explore entrepreneurship and make passive income. Dropshipping involves setting up a storefront on an ecommerce platform, such as Shopify, and selling products without carrying any inventory.
Setting up a dropshipping business is relatively straightforward, but you’ll need to find a reliable source for the products that you plan to sell. However, dropshipping has low startup costs, and there’s no risk of overstocking inventory.
Graphic design
Becoming a freelance graphic designer is an excellent option if you want to start a work-from-home side gig. Graphic design is an in-demand skill, and businesses look for creative professionals to help them bring their ideas to life.
You can use the Jobcase job board to find freelance graphic design jobs or advertise your services locally. While you’ll need experience working with design software, this is a great side gig for those who want to express their creative skills. The average annual salary for graphic designers is $50,710.
Tutoring
If you want to help others while also making money, you can become a tutor. Many online platforms allow students to find tutors to help them with their studies. Depending on the platform, tutors can be compensated for their time and expertise differently.
Tutors make an average hourly rate of $19.31 per hour, but you can set your own rates and hours with this side gig. You’ll need a good grasp of the subject you’re tutoring, but this is a great way to make quick cash.
Tips for finding a side hustle
No matter which side hustle you decide to pursue, success starts with a plan. There’s no set formula for success, but having goals in mind and knowing what you want to achieve can help you stay on track. Here are some tips for finding and starting a new side hustle:
Create a plan for success
Once you know what kind of side hustle you’d like to pursue in your spare time, creating a plan for success is important. Write down your goals and a timeline for when you’d like to achieve them.
You should also explore your passions to find something you’re genuinely interested in, as ideally, you want to enjoy — even have fun with — your side hustle. To avoid financial strain, research your desired industry to familiarize yourself with the latest trends and ensure you’ll have a steady income before starting.
Look online for potential job postings
There are numerous websites, job boards, and classifieds where you can find side hustle opportunities. Most of these resources are free, though some may charge a fee.
You can also network with local and online communities to discover available opportunities.
Keep track of your income and expenses
Keeping track of your extra income and expenses once you start a side hustle is crucial. This includes recording how much you’re making and how much you’re spending to help you stay organized and make good financial decisions.
You should also be aware of the current tax implications of having a side gig, as you may be required to pay taxes on your income. If you’re unsure how to do this, reach out to a financial advisor or tax professional for assistance.
Find a new side hustle today
Some of the best side hustles are creative endeavors that allow you to express yourself and make extra money simultaneously. With the right mindset, creativity, and dedication, you can unlock multiple income streams while still following your passions.
Remember to have a plan and keep track of your passive income and expenses to avoid any financial issues. And finally, don’t get discouraged if you don’t make money from your side hustle right away — keep working hard, and success will come!
If you’re ready to start a new side hustle, check out the Getting Hired Resource Center for more helpful information.