More and more people are turning to side hustles as a way to bring in extra cash outside of their main jobs.
While some industries are easier to break into than others, starting a side hustle could lead to big things in your future -- like opening your own small businesses that brings in more than six figures.
A small business can be a great way to become your own boss, earn a living doing what you love, and have control over your work-life balance -- and a side hustle is the perfect first stepping stone to get you there.
So, where do you start? A recent report by Insuranks outlines 11 of the most profitable industries to break into right now based on market trends, growth potential, and data from the U.S. Bureau of Labor Statistics.
1. Social Media Management & Digital Marketing
You're on social media all day anyway, you might as well be getting paid for it. You can help businesses manage their social media accounts, create content, and run social and digital marketing campaigns.
Potential Payout: $150,000
2. Virtual Assistant
Here's a side hustle you can literally do from anywhere in the world. Virtual assistants provide administrative and technical support to businesses and individuals, such as scheduling appointments, managing email and creating presentations.
Potential Payout: $70,000
3. Freelance Writer/Editor
With the rise of digital content, there's a growing demand for freelance writers and editors, which involves writing articles, blog posts and more for businesses and publications. It's also another side hustle you can likely do entirely remotely.
Potential Payout: $100,000
4. Graphic Design
In yet another remote side hustle that puts your creativity to use, you can help businesses create logos, websites, marketing materials, and other visual content as a graphic designer.
Potential Payout: $75,000
5. Pet Services
If you're looking for a reliable industry that will always have new clients, pet services is the way to go. If you're an animal lover, this side hustle can even feel more like a hobby than a job. Services you can provide include pet grooming, pet sitting, dog walking and pet training.
Potential Payout: Grooming & Sitting $70,000 -- Training $115,000 -- Walking $240,000
6. Personal Trainers/Fitness Coaching
If you're a fitness buff, here's a side hustle that could be right up your alley. Personal trainers and fitness coaches are in high demand, especially if your offerings include one-on-one coaching, group fitness classes or virtual coaching sessions.
Potential Payout: $150,000
7. Virtual Event Planning
According to Insuranks, more businesses are turning to virtual events for conferences, training sessions, and more. If you have experience in event planning, you can help businesses plan and execute virtual events by arranging logistics, making agendas and driving marketing, among other tasks.
Potential Payout: $100,000
8. Cleaning Services
Another industry that isn't going out of style, many people are willing to pay for a professional cleaning service to keep their homes and businesses clean.
Potential Payout: $100,000
9. Food Trucks/Mobile Catering
This category is slightly different because it requires capital up front to get your feet wet. But the low cost of starting a food truck or mobile catering business could lead to potentially high profits -- especially if you have a unique concept and are located in a popular area.
Potential Payout: Food Truck $375,000 -- Mobile Catering $250,000
10. Online Courses & Tutoring
More kids are learning online these days, which means the demand for online tutoring services is growing. If you have the skills and experience necessary to tutor students or creating online courses, starting a tutoring business can be a greatside hustle. And it's not just for helping kids either. You can help students prepare for college entrance exams or even teach a foreign language.
Potential Payout: $150,000
11. Web Design/App Development
If you have experience in web design, you can help businesses create and maintain their websites with SEO and other online marketing strategies. With a programming background, you can also help clients develop, build and update mobile apps.
Potential Payout: Web Design $70,000 -- App Development $125,000
Starting a profitable small business requires careful planning, hard work, and a commitment to delivering exceptional products and services. It certainly won't happen overnight. But a side hustle could be exactly where you need to start to accomplish that goal.
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