Are you looking to earn some extra income? With the current cost of living crisis, side hustles have become increasingly popular. Providing the opportunity to generate some extra cash, as well as the chance to learn new skills and network with new people, there are plenty of reasons why running a side hustle could be beneficial to you.
As this will be run alongside a full-time career, it is far easier to do so if you pursue something you are already passionate about. Whether it be baking, photography, or DIY, there are plenty of opportunities for turning your passion into a thriving side hustle.
Perfect your skills
Before you begin charging for your services, it is important that you perfect your skills. No matter how much experience you have, people are going to expect a certain level of quality when paying for a product or service.
Depending on what you are offering, it might be beneficial to complete a formal course and gain a qualification in your chosen area before setting up your side hustle. For certain services, this will be a legal requirement, so it is important to do your research beforehand in order to ensure you are both operating legally and not putting yourself or your customers at risk.
Practicing on family and close friends is also a useful way to improve your skills and with their permission, you can then use this work to market yourself to potential customers.
Complete necessary admin
Setting up a side hustle is not as simple as it may initially seem. There is a range of admin that you will need to complete before you begin charging for products or services. This will include but is not limited to registering yourself as self-employed or registering your business and obtaining necessary insurance.
While this may seem laborious to complete, it is vital that you do so to protect both you and your customers.
Invest in equipment
Once you have perfected your skills and completed all your admin, it is time to invest in any equipment you may need. This will depend entirely on the type of business you are venturing into.
For example, if you are going to be offering manicures, you should be sure to buy nail extension kits, a gel lamp, and a range of hygiene products.
As you are just getting started, while it may be tempting to invest a lot of money into equipment for your side hustle, you should start with the basics to begin with. Then, once you begin making a profit you can re-invest some of this into more equipment. This means less risk to begin with, and less at stake if you decide you do not want to pursue the business after a couple of months.