‘3 side hustles you can start for $50 or less’

In 2018, I started trying things on the side to pay off $40,000 of my debt on credit cards and student loans.

Today, I have achieved that goal – along with others. In 2021, I made enough money to quit my $98,500 a year engineering job and work on my business full time.

At the age of 28, I was my own boss and I worked less than four hours a day. Last year, I made over $189,000 from seven streams.

My big stream comes from teaching people how to start profitable side hustles: I post educational content on YouTube, guide people on Patreon, and sell business consulting services on Fiverr.

Here are three parts you can start today for $50 or less:

1. Freelance your skills on Fiverr.

Cost to get started: $0

Fiverr is an online marketplace for freelance work. Common tasks include graphic design, writing and translation, and digital marketing.

I created my first business checklist in 2021. I had a lot of success selling products on Amazon and wanted to share my knowledge on e-commerce.

I charge between $60 and $350 to do product reviews. Someone will tell me what they are interested in selling, and I will find different products and brands that are high in demand and low in competition.

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Then I’ll put together a research report that includes a product description, where it will be manufactured, and a cost estimate and value analysis. Sometimes I go to clients on how to list products on Amazon. I made a profit of $29,000 in my first year.

Fiverr is free to join, and you only get paid when you complete an order. The platform collects 20% of your revenue in fees.

Some other free platforms to consider: UpWork, 99designs and Guru.

2. Use Patreon to benefit from the audience.

Cost to get started: $50

Patreon allows you to build and sell a group by sharing your unique work. I signed up in 2020 to teach people how to create an Amazon store.

Each month, subscribers pay to chat directly with me and learn about top-selling products in a variety of categories. Last year, I made $33,114 from Patreon.

Signing up to create content on Patreon is free. You only pay to use the service once subscribers pay to join your group. Patreon pays between 5% and 12% of your monthly income, depending on how many features and tools you want.

Here’s how it works:

  1. Decide on a product or service group. You can list anything that you have skills and experience in. Search on Patreon for creators working in your area of ​​interest to see what’s selling and where you have the most opportunity.
  2. Conduct competitive market research. Once you’ve decided on a niche, research similar creator pages to determine the monthly price to pay subscribers and the features you’ll offer.
  3. Create a welcome video. Post it on your page to advertise your service to potential subscribers. You do not need to invest in video editing software – iMovie or DaVinci is free and easy to use.
  4. Set this Google Ads. This will help you target people who are looking for your product or service. I only made $50 on my ad campaign.
  5. Keep in touch with your subscribers. Listen to their feedback to determine which features to add to your page. Word of mouth is important to growing your Patreon business.
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3. Buy your car at Turo.

Cost to get started: Varies

Do you have a car? Turo, a peer-to-peer car sharing platform that allows you to rent out your car, is a great way to earn extra money.

In 2019, I used a $2,000 rebate to buy a $22,000 Polaris Slingshot. I see people in my market renting their Slingshots for $150 a day, since my salary is about $400 (including insurance), I only rent my car for at least a day three a month to destroy.

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In 2020, I earned $5,717 in gross profit.

Signing up for Turo is free, but startup fees will vary depending on your vehicle’s location. Here are three tips to help you maximize your profits:

  1. Design your listings with attractive photos. To help my list stand out, I took a photo of my Slingshot in front of graffiti art at a local tourist spot.
  2. Install a lockbox to save your time and provide more flexibility. I put one around my house so the cashiers can pick up the keys if I’m not around. I always ask for a photo of the customer’s ID to make sure it matches the details on their Turo account. Then I will send the login instructions.
  3. Renting a car offers the highest return. Turo has data on average annual revenue for different car brands and markets. For example, you can get more money leasing a Toyota Prius than a Land Rover Range Rover.

Josh Ellwood is the founder Fees For Dollars. Follow him Instagram and YouTube.

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