Now that the lockdown is being relaxed entrepreneurs across the country will be taking stock of the shape of the new economy, and trying to puzzle out what opportunities it might present. Thinking on some side income business ideas? Well, you should.
The overall impact of the lockdown was overwhelmingly negative and felt especially keenly by certain industries, like the events and hospitality industries.
But there were some winners from the shift. Video-conferencing services experienced explosive growth, as did online sales.
As we transition out of lockdown, it’s likely that some of the lifestyle changes we’ve made will be with us for a long time to come.
Given that three-quarters of a million people lost their jobs in the first four months of the crisis, there’s a lot of talent available out there. Thus in a sense, this is an excellent time to start a business – provided that you have the idea to match this new and unfamiliar environment.
Why Side income business ideas are important?
If your income streams aren’t sufficiently diverse, then you’ll be more vulnerable to economic shocks of the kind that Covid-19 may yet still deliver.
If a sizeable portion of your income stream runs dry, then you’ll be reliant on the alternatives you’ve built – but you can only do this if you diversify ahead of time before those shocks actually arrive.
Launching your side business with success depends on many factors, including the right promotion. This might include SEO, social media, and the right physical posters and signage.
So what kinds of side hustles might thrive in a post-lockdown economy?
Here are 8 ideas:
#1. Start a consulting business online
Over the course of the lockdown, many of us became familiar with parts of the online world that we might otherwise not have touched.
For example, platforms like Zoom experienced explosive growth during April. This has made many other kinds of online business viable because it’s made vast swathes of the population comfortable with taking advantage of online services.For example, you might choose to offer one-to-one online education via teleconferencing. If you’re a skilled professional looking to supplement an income that’s been dented by Covid-19, this avenue may be well worth exploring.
#2. Food Delivery
Supermarkets are, in theory, a potential place where contagion might occur. The same goes for restaurants and take-aways, many of which have had to adapt to install a range of social distancing measures.
To combat this, many such small businesses have outsourced. If you have access to a car, then you might claim a slice of this pie. Alternatively, you might choose to start a food business yourself – but to do this you’ll need to register 28 days before commencing.
How much will I earn doing food delivery?
When you do 22 trips a day at 9 hours for 20 days a month, you will roughly earn about £2,500 to £3200! This equates to anything between £30,000 and £38,000 a year, depending on how many food orders you can deliver.
The potential money to earn is quite tempting but the energy and risk are there. Delivering using any food delivery may appeal more if you are a student looking for a side job. The opportunity cost is less and starting out is not difficult.
#3. Drive For Uber Or Taxify
Driving for one of the app-centric taxi alternative services, Uber or Taxify can still be a fairly lucrative way to earn money as a side business idea on nights and weekends.
But before you dive headfirst into this side business idea, do your homework and calculate the costs of extra gas, mileage, tires, wear and tear and usage on your vehicle, it’s not a guaranteed business idea that’ll turn a huge profit every weekend.
How much I can make as an uber driver?
The money you make driving with the Uber app depends on when, where, and how often you drive. You can make anything between £2000 to £3000 per month before taking the car costs, if you work 6 hours per day, 5 days a week. Working on weekends nights can bring you way more. This equates to anything between £24,000 and £36,000 a year.
#4. Gardening and Landscaping
With so many of us spending so much time at home, we’re getting to know our homes and gardens better than ever before. Any services and products which can make the process of tending to a garden easier are likely to be popular. Alternatively, you might start landscaping yourself!
Another route to becoming a self-employed gardener would be to join a bigger gardening firm by becoming a junior gardener. That way, you don’t have the outlay of setting up on your own and you should be partnered with another, experienced gardener who you can watch and learn from.
How much will I earn doing gardening and landscaping?
Professional gardeners work in blocks of three to four hours – otherwise, it’s just not cost-effective factoring in travelling to and from jobs.
Gardeners can charge between £20-£50 an hour or a minimum £150 per day. This equates to anything between £15,000 and £70,000 a year, depending on how sophisticated a service you offer. And, contrary to popular opinion, gardening and landscaping is a year-round job – there’s always something to be getting on with.
#5. Work as a dog walker
Time is the most important asset nowadays. Not money, but time. Many individuals prefer to trade their money for their time, and that’s how the dog walking job was born.
If you’re an animal lover and especially a dog lover, you should definitely give this job a shot. Check this dog walker guide to find out more about what the owners are looking for when they hire a dog walker. Here’s a pet sitting platform that lets you connect with animals’ owners.
How much can I make as a dog walker?
The average pay rate is usually £7-£12 per hour, so it’s not something low I would say. At a dog park, two professional walkers in California’s Bay Area told BuzzFeed News that they can make £25,000 to £80,000 in a year.
#6. Work as a nanny
You can play the nanny and earn good bucks for it. Just like with pets, people need to take care of their children while they’re working.
The schools’ situation is uncertain in many states so a lot of people will need someone that take care of their kinds while they are at work or work from home. There’s a huge demand for nannies nowadays, as most individuals have 8-hour jobs.
You need to look trustworthy and serious. Parents won’t easily let their children in the hands of someone who doesn’t look clean, responsible, and trustworthy.
How much I can make working as a nanny?
The cost of hiring a nanny depends on where you live and your family’s needs. Some nannies are paid minimum wage. Others can have a starting pay of £15/hour.
Do you have a college degree? How about a master’s? Nannies with more education are typically able to charge more, especially if the degree is relevant to child care, such as a bachelor’s degree in early childhood education or a master’s in child psychology.
#7. Be a virtual assistant
Today’s virtual assistants do things like organising social media posts, producing podcasts and building and maintaining websites.
One of the most attractive things about becoming a VA and working from home is the flexibility, whether you need to look after elderly parents or small children or if you just want to become a digital nomad.
Type of Jobs a VA can do:
- Emails, scheduling, booking phone calls
- Running social media accounts
- Writing Blog posts
- Website design and production
- Direct mail marketing
- Audio transcription
- Outreach, Finding prospects
- Information Research, Reports
How much will I earn as a virtual assistant?
Obviously it depends if you want to work full-time or part-time. Many individuals are drawn to becoming a VA because of the flexibility of working from home when it comes to childcare.
A typical VA juggles six clients at any one time. The average daily rate for a VA is £27 per hour, according to the latest Society of Virtual Assistants survey. And the average salary for a full-time VA is £49,302.
#8. Become an entrepreneur
Lastly, even though this activity isn’t quite a job, I’d suggest starting an entrepreneurship journey. In case you always wanted to start a business, now is a good time to gain an advantage and make progress.
Starting an online business is not a bad idea too. It requests less capital, you can do it from anywhere, and it’s quite profitable too. If you don’t feel ready enough, I’d suggest taking some entrepreneurship courses in the first place.
Read books, watch big entrepreneurs, and stay connected to your goals. Then, you’ll need to take serious action in order to make anything happen.
Takeaways on Side Income Business Ideas
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Keep in mind that no matter what side income business ideas you choose, it’s important that you’ve actually made your professional and personal development a priority.
As long as you’ve made a goal before working, you’ve managed to stick to it, and you’ve finally accomplished it, you deserve respect.