Are you looking for some extra cash in 2023? Or are you tired of the 9-5 grind and want to branch out on your own? Either way, side hustles can be a great way to supplement your income and pursue your passions.
We've researched and compiled a list of the eight most lucrative and popular side hustles based on industry experts and recent statistics. With the gig economy on the rise, now could be the perfect time to explore the many opportunities available to you. Let’s dive in!
Online tutoring has become a hot commodity with the rise of remote learning. If you're knowledgeable in a subject area, you can sign up to be a tutor on websites like Chegg or TutorMe. You can set your hours and rates, and you don't have to leave your house!
Graphic design is a highly in-demand skill, and it's never been easier to start. With tools like Canva and Adobe Creative Cloud, you can create stunning designs for clients. As a result, there's a massive market for this work, whether creating logos, designing marketing materials, or making social media graphics. Plus, the .design domain name makes the perfect companion to your burgeoning design business!
Take for example Solomonov.design, a Madrid-based UX/UI graphic designer who leads the design process from end to end. The owner, Alexander Solomonov, uses his .design website to promote his graphic design skills to both potential employers and to clients who are interested in freelance work.
Dropshipping is a type of e-commerce where you don't keep any inventory. Instead, you work with a supplier who sends the product directly to the customer. Then, all you have to do is market the product and handle customer service. According to Oberlo, the dropshipping market size will be worth as much as $476.1 billion by 2026. So, not only is it a low-risk way to get into the world of e-commerce, the timing has never been better. With plenty of resources available, starting an e-commerce business to sell your products could be an ideal side hustle.
To start your e-commerce business off on the right foot, grab a custom .co domain to stand out from the online crowd.
Content creation is a broad category that encompasses a variety of skills, such as writing, photography, videography, and more. If you have a creative talent, you can offer your services to businesses and individuals who need content for their websites or social media accounts. Similarly, if you're a writer, you can create a blogging website and begin building a strong following. Once you have enough regular visitors, you can monetize your website by advertising within your website or by writing sponsored content (content or topics that was paid for by someone else to promote a specific product or service).
To promote your business or blog in your local community, grab a geographic domain that lets people know you are in their area, like .us, .nyc, .boston, and many more. A great example of a geographic website making money on content creation of mystudio.us, who uses their website for display advertising to promote US-based businesses.
You can create and sell online courses if you're an expert in a particular field. Whether teaching a language, giving a photography lesson, or showing others how to code, there's a massive market for online courses. The demand for online learning is expected to reach $166 billion this year. In addition, platforms like Udemy and Coursera make creating and selling your course accessible and straightforward.
Social Media Management
Social media is a powerful tool, but many small business owners simply don’t have time to check this off their to-do list in their already busy days. However, if you have a talent for communicating, you can offer your skills to help businesses grow their online presence. Your services can include creating posts, managing ads, and analyzing metrics.
Being a virtual assistant could be a great side hustle for you if you're organized and have strong administrative skills. You can offer your services to individuals or businesses needing help scheduling appointments, answering emails, and managing projects. According to research by 99 Firms, 67% of business owners hired at least one virtual assistant in 2021, and this market is expected to grow by 22.3% in the coming years.
Affiliate marketing is where you promote products and receive a commission for sales made through your unique link. It's a way to earn passive income from your existing blog, email newsletter, or website. With the industry valued at $17 billion this year, it could also be a lucrative side hustle.
As you can see, there is a side hustle for almost every skill and interest imaginable. While these are the most profitable ones we have found for 2023, there’s no shortage of ways to make extra cash while working on something you love. So don’t be afraid to start selling that art, writing that book, or any other creative endeavor that brings you joy.
So what are you waiting for? It's time to get that side hustle of yours an online home - and we've got you covered. Go to our website here to start building something you love today.