A new year has begun and is going to an end but many millionaires with Side hustle and passive income are ruling their worlds, does that mean it is too late for you to get one of yours? Do you want to know some Side hustles to generate passive income before December 2021? Then read till the end.
As you take out time to relive your achievements of the previous three quarters while preparing new goals for the last quarter of the year year, Startupbuz brings you an outline of side hustles you can do that have unlimited clientele as well as great monetary gains.
The importance of having a Side hustle cannot be overemphasized, this is due to the needs that keep piling as well as the cost of living that keeps escalating. One sure way to overcome the twin problems of lack and poverty in Nigeria is creating multiple streams of income rather than solely relying on your 8-5 job. Here are 5 side hustling ideas that are worth considering;
Start a lending Business
The lending business is one side hustle that would go particularly well in 2020, this is because people need money for so many reasons and as such, they are going to have to lend if they do not have it.
However, secured lending would be ideal as it is the only way to ensure guaranteed returns and not investing in stocks.
Sell Baby Products
The baby product business provides one of the most lucrative side hustle opportunities. The fact that Nigerians will always give birth to children presents an endless opportunity for entrepreneurs as they can never run out of business. Baby food, baby clothing, diapers, baby body care products, and general baby equipment are all examples of what one can consider selling as a side hustle.
Start a health-related business
Health-related businesses are a lucrative side hustle idea simply because people would always need medical services. Drug stores, Maternity homes, Medical laboratories, Massage therapy services, fitness centers, medical transport services, and so on are examples of choices you might want if you are considering the health line of business.
Start an education business
Becoming a tutor is big business especially now that the demand for specialized lesson teachers is on the increase. If you have a skill in any of these subjects, you can consider joining a freelance tutoring ring as a side hustle, where you can be called upon to teach children or anyone looking to write an exam. Online tutoring is also an option where you can use skype and other online platforms like superprof.ng to teach people who desire knowledge and information in some specific fields and are ready to pay for the information.
Apart from tutoring, opening up a bookstore where you can sell students’ textbooks and other materials needed to study is an equally lucrative side hustle.
Startup a barbershop, hair salon as Side hustle
Once you build a clientele base, professional services such as barbershops and hair salons are good side hustles. As long as hair continues to grow on our hair, this business continues to be profitable. The same thing applies to the food business. However, starting a food transportation service is far more profitable than being in the food value chain itself. Once you have a car, you can transport foods from certain areas or villages where you can sell at higher prices.
Food like eggs and chicken thrive in this business although there are times best for transporting certain farm produce. Live chicken is best transported at night for instance. This helps to prevent the heat from killing the animals during the hot afternoon.
In conclusion, one thing you should have in mind when opting for business ideas whether as your side hustle or your main one is that business opportunities exist because people have a need or demand for particular products or services. This is therefore what you should look into when choosing.
Also, note that your side hustle shouldn’t interfere with your job. The aim of your side hustle is to help cater to those needs that crop up unexpectedly.