Side-hustle options may help you get an extra buck and achieve your financial objectives, whether you want to pay off debt, save money for a dream vacation, or simply bolster your bank account.
This post has listed some of the most reliable and profitable side gigs you may attempt in Australia.
There is something for everyone, including online tuition, translation services, pet sitting, and social media content production.
What Is a Side Hustle?
Any work you conduct besides your main job qualifies as a side hustle. The goal is to earn more A side business is an alternative work option that generates extra revenue in addition to a person’s regular job.
A side hustle typically offers greater independence and control over what is done, when, and how many hours are devoted to it than part-time work.
People can generally pursue a side business, including their interests and skills, and some people may eventually turn their side business into their main line of work.
How Much Money Can You Make With a Side Hustle?
What you earn in your side hustle will depend on various factors. For example, the type of your side hustle, the demand for what you offer, and the time you dedicate to your side job all influence how much money you can make.
Consider your potential tax liability and charges like platform fees, supplies, travel expenses, and insurance when estimating how much you could earn.
You can now assess your prospective earnings across 50 different categories, including many of the abovementioned hustles, using the “Side Hustle Calculator” on Airtasker.
You may make up to $2,996 per month as a regular gardener, $3,100 per month as a cleaner, or $5,785 per month as a handyperson, according to a YouGov Survey commissioned by Airtasker. However, it’s essential to remember that these numbers don’t include the platform’s cut, which is between 10 and 20%.
Though side jobs can generate a wide range of earnings, a nationwide assessment of online platform work in Australia found that certain positions pay less than the minimum wage.
How Can I Succeed at My Side Hustle?
Goals without a strategy are referred to as wishes. Financial expert and Canstar writer Paul Benson make crucial recommendations in his blog post “Key Steps to Consider.
- Consider your skills and limitations and the possibilities and risks that might increase or decrease your chances of success when you research and select your side business.
- Create a business plan that outlines your strategy for success and covers elements like:
- What issue will your venture address, and for whom
- How will you advertise what you are providing?
- The expenses involved in delivering your offering or service
- What success means to you
- Consider marketing; for instance, how will you convince clients that what you do is superior to what they offer?
- Ensure the formalities are in order, including obtaining an Australian Business Number and a business name. Consider how you will be paid as well. Will you require the assistance of a merchant services provider for that?
- Launch your side business, then assess, learn, and adjust as you go.
Important Questions When Considering Side Hustle Ideas
A side hustle is a terrific way to supplement your income, but like any new business, it takes some initial work to get traction.
You need to select a concept that complements your way of life to make it easier for this additional labour to slip to the bottom of your to-do list and eventually be forgotten.
Because of this, exciting side jobs frequently feel less like a duty and more like an artistic outlet that balances craft and commerce.
Even if side hustles don’t always turn into full-time careers, many people who undertake them tend toward it once their business succeeds. Here are some things to consider if you desire a side business that could someday lead to your job.
1. What’s Your Current Schedule?
It helps if this side business works into your schedule because you’ll invest significantly in it. A concept for a side business should be something you can accomplish in addition to your regular 9 to 5 work that will be fine with you and allow you to do it.
At your full-time employment, issues will arise. You might need to work longer hours on some days to accomplish a project, or you could have commitments like meetings and team-building exercises.
Selecting an activity that is simple to postpone will ensure you dedicate time to your side business. Although they may appear enticing, side jobs like real estate, dog walking, or babysitting may be more challenging to fit around your average day job.
2. What are Your Interests and Passions?
By the end of the day, most people’s creative energy has been completely sapped by working 40 hours weekly. And it’s simple to see how difficult it might be to find more headspace to focus on a side project after time well spent with family, friends, and other obligations.
However, the optimum time to work intently to launch anything is during these tucked-away hours in life’s margins. You’ve already seen every true-crime documentary on Netflix, the workweek is over, the weekend is still a few days away, and your schedule is completely open.
Even yet, there will be occasions when you want to avoid working. Therefore, even if the end product isn’t what you’re passionate about, it’s perfect if your side business strongly relates to it.
That might indicate that you appreciate some part of managing things behind the scenes, enjoy learning about a new subject or area of interest, or desire to assist others.
Regardless of the attraction, a decent litmus test is being pulled to the task while you’re putting off doing anything else. Even a small amount of excitement may go a long way.
3. Is the Idea Financially Practical?
Even while only some pastimes need to be profitable, most of us have expenses and school debts to pay. A decent side hustle should generate a return on time spent. This means that your side business must be financially and financially stable long-term—it cannot merely be part-time side employment.
Since your main focus is on perfecting your product or service and figuring out how to reach your initial clients or consumers best, most side hustles take time to be successful.
Early on, you should focus solely on “ringing the cash register” or making a transaction to validate your idea so you can see how the finances pan out.
What does that mean? You don’t need to be so preoccupied with keeping track of your sweat equity because each endeavour starts imbalanced in time invested and money received.
However, as you advance and begin making additional income, it’s critical to comprehend how much it costs you—in terms of both time and money—to acquire clients, customers, or sales and, eventually, convert your effort into profit.
Your side business may not be viable if your profit margins or hourly pay leave you in the red.
The Top Side Hustles for Australians in 2023
Prepare to work hard and earn extra money with these unique and clever side business ideas!
1. Virtual Tutoring
Who says teaching is a full-time job? Put your expertise to work as a virtual tutor. Virtual tutoring is gaining popularity during the Covi-19 epidemic. You can instruct courses.
Use Australian online tuition services like TeachMeNow, YourTutor, or Cluey Learning.
2. Pet Sitting
This gig lets you turn your passion for dogs or animals into a side business. Dog walking and pet sitting services are always in demand since pet owners are frequently on the go.
3. Freelance Writing
If you have a knack for language, you can earn some money writing as a freelancer for websites, blogs, or other media. Since some authors charge by the word while others charge by the article, what you can make from this might vary considerably.
You can charge more for your job if you have specialised knowledge or expertise in a given field. Websites like Fiverr, Jora, and LinkedIn may help get writing jobs.
4. Social Media Management
Utilising social media management assists businesses in enhancing their online presence. You’ll create content, address client inquiries, and monitor the business’s online reputation.
Register with Australian social media management services like Sendible, Later, or Sked Social.
5. Graphic Design Services
Use your expertise to create logos, marketing brochures, and other visuals for businesses and people. You’ll need a great portfolio to get clients, but the work may be consistent once you have one.
Consider using Australian versions of Canva, 99designs, or DesignCrowd.
6. Lawn Care and Landscaping Services
Providing landscaping and lawn care services may be lucrative if you are okay with getting your hands filthy. There is always a need for landscaping services, whether mowing lawns, pruning hedges, or planting flowers.
To advertise your services, set up a website or a social media presence, or join Australian lawn care businesses like VIP Home Services, Jim’s Mowing, or GreenSocks.
7. Food Delivery Services
Consider working as a food delivery driver if you’d rather not drive people about and make small conversation but still want to drive. Grocery delivery has also been included in food delivery apps like Uber Eats and DoorDash, with DoorDash creating “DashMart” to support the expanding practice.
Most platforms will also view food delivery drivers as independent contractors, making these positions comparable to rideshare drivers. You may always look into working as a driver for your favourite neighbourhood restaurant or store if you’re less eager to deliver for a large multinational.
8. Virtual Bookkeeping or Accounting
Virtual bookkeeping might be a successful side business if you’re firm with numbers. You’ll need to be an expert in bookkeeping software and accounting concepts. Join systems like Bench, MYOB, or Xero that offer bookkeeping and accounting services in Australia.
9. Personal Shopping
If you are passionate about fashion, consider using personal shopping and styling services. Both people and companies can use your services. Look at Australian buying and style sites like The Volte, Thread Together, and GlamCorner.
10. Fitness Coaching
Provide health and fitness coaching or individual training. Individual or group sessions may be conducted in person or through the Internet.
F45, Anytime Fitness, and Fitness Australia are some Australian fitness and personal training platforms worth checking out.
11. Social Media Content Creation
If you’re resourceful and savvy with social media, you might provide content development services to companies. Create excellent social media posts for Australian clients by signing up for a content production tool like Canva, Adobe Spark, or Hootsuite.
12. Event Planning and Coordination
Successful event planning and coordination may be gratifying if you like organising and arranging people and activities. You may organise everything from formal weddings to casual backyard barbecues.
One Fine Collective, SweetP Curation, and The Style Co. are just a few of the Australian online platforms that may help you organise and manage your event
13. Renting Out a Spare Room on Airbnb
If your house has space, you can let someone else use it! You must keep the place clean and tidy to be a good host.
Sign up for an account with Airbnb and begin advertising your property. Consider other options such as MadeComfy, HeyTom, or Hometime, Australian Airbnb management services.
14. Virtual Assistance and Administrative Services
Virtual support and administrative services might be the ideal side business for the extremely organised and detail-oriented. Your services may include email handling, appointment setting, and data input.
Time Etc, OkayRelax, and TaskBullet are just a few of the Australian virtual help and administrative platforms you may use to get started delivering your services.
16. Translation Services
The provision of translation services might be the ideal side hustle for you to pursue if you are bilingual or multilingual. Explore many online marketplaces for translation in Australia, such as TranslatorsCafe, Airtasker, and ProZ.
17. Renting Out Your Car
If you have a vehicle you use less frequently, try renting it out to people needing transportation. Put it up for rent on Australian car-sharing websites like Car Next Door, DriveMyCar, or Turo.
18. Web Design and Development Services
If you have the knowledge and experience, offering web design and development services might be a successful side business. Participate in marketplaces for Australian web designers and developers, such as Upwork, Codeable, or Freelancer.com.au.
19. Influencer
It’s possible to monetise your video content on sites like YouTube, Twitch, and others like it. The videos you broadcast or create may be about whatever you choose, from cute animals to video games, how-to tutorials, and a personal passion project.
According to Influencer Marketing Hub, you could zero in on fashion, beauty, gaming, travel, and lifestyle as your primary areas of interest. Streaming may generate cash via subscription fees, advertising revenue on the site, fan contributions, and branded item sales.
If you become popular enough, brands may approach you with sponsorship opportunities.
20. Mobile Car Wash and Detailing Services
Those not afraid of getting their hands filthy might make some extra money by offering mobile vehicle wash and cleaning services.
Provide mobile automobile washing, waxing, and detailing services to consumers in their driveways or parking lots. Participate in car-cleaning marketplaces in Australia, including Detail Green, Ecowash Mobile, and Magic Hand Carwash.
21. Writing and Publishing E-books
Those who can write and publish electronic books may turn their writing skill into a lucrative side business. You can use services such as Apple iBooks or Amazon Kindle Direct Publishing.
22. Online Tutoring
Want to educate others about something you’re enthusiastic about? Provide test prep with online coaching and watch students’ grades soar. Get help from a tutor via LearnMate, Tutor Finder, or Cluey Learning, all Australian online services.
23. Online Surveys
Need some additional spending money and don’t feel like leaving the house? Make money by sharing your thoughts and filling out online surveys. Join an Australian survey site like Swagbucks, Toluna, or Pureprofile and start earning rewards.
24. Dog Walking and Pet-Sitting Services
Having a soft spot for canines and other pets? Provide pet care services, such as dog walking and pet sitting, to those who need support while away from their pets. Become a member of one of Australia’s pet-care websites, such as Mad Paws, Pawshake, or PetCloud.
25. Selling Handmade Goods
Do you have an exceptional imagination and a talent for creating one-of-a-kind handiworks? Make money by selling them on the Internet! Open a virtual store on sites like Etsy, Madeit, or Redbubble to sell your wares to customers worldwide.
26. Renting Out Equipment
Have any unused tools lying around? Let it out and get rent money. Start renting out your tools and other equipment by signing up with an Australian site like Open Shed, ToolMates, or Spacer.
27. Language Teaching
You may make money as a language instructor or translator if you know two or more languages. Participate in online language learning communities in Australia, such as Italki, Tandem, or VerbalizeIt.
28. Social Media Management
This gig is for you if you consider yourself a social media expert and like assisting companies in expanding their online presence. You can provide your services as a social media manager and aid businesses in making connections with their target audiences.
Get paid to use your social media abilities by signing up with an Australian social media management tool like Locowise, Hootsuite, or Sendible.
29. Virtual Event Planning
The epidemic has changed how people socialise; virtual gatherings are now the norm. Provide your services as an online event planner if you are well-organised, have a good eye for design, and can think outside the box.
Sign up for Australian event planning sites like EventBrite, Canva, or GoToWebinar, and throw some awesome online gatherings.
30. House Cleaning and Housekeeping Services
If you’re a neat freak with an eye for detail, cleaning and housekeeping may be a good business for you to pursue. Get in on the action in Australia’s cleaning industry by signing up with a platform like Airtasker, Oneflare, or HouseProud.
31. Personal Shopping and Styling Services
Offering personal shopping and styling services is a great way to use your keen sense of style while satisfying your desire to assist others. Become a personal shopper in Australia by signing up with The Iconic, Stylerunner, or Westfield.
32. House Sitter
House sitters may find more openings now that folks are starting to vacation again. While the owners are gone, a house sitter may ensure the plants are watered, and the dogs get fed. House sitters may advertise their services on various websites, including TrustedHousesitters and Aussie House Sitters.
33. Virtual Assistant Services
Offer your time-management, organisation, and communication skills to professionals in need via virtual assistant services. In Australia, you may find opportunities to work as a virtual assistant on sites like Fiverr, Time Etc., and VA Platinum.
34. Become an Affiliate Marketer
Affiliate marketing promotes another company’s goods or services on one’s website in exchange for monetary compensation (often in the form of a special link or code). It’s a smart strategy for juggling many side gigs.
Affiliate marketing is a great way to make money if you have a podcast, a large following on social media, or your own online business. It’s a fantastic technique to earn money in the background while pursuing other interests or main projects.
Finding the correct items to promote may be done by visiting an affiliate marketplace such as Leadpages, ConvertKit, ClickBank, or ShareASale. And if you’re an e-commerce-focused content producer, course instructor, or influencer, the Shopify Affiliate Programme might be a lucrative side gig.
35. Car Rental
Consider renting out your second automobile on occasion. But if you decide to carpool, consider how it can affect your insurance premiums. Ubre Carshare (formerly Car Next Door) and DriveMyCar are widely used in Australia.
36. Parking or Space Rental
Renting out a spare room, garage, or parking spot in a high-traffic location is a simple way to generate additional revenue. Apps like Parkhound and Share with Oscar are just two of several options for renting or leasing out your unused parking spot in Australia.
Spacer is just one example of a website that works similarly by letting you rent your storage space to others needing it. However, if you’re on a piece of land with a strata title, you must be aware of any limits the strata plan imposes.
37. Transport People
Given the prevalence of ride-sharing applications nowadays, most ride-sharing platforms seek drivers. As a result, being a rideshare driver might be a simple method to make additional money, provided you have the necessary vehicle and free time.
It should be noted that most ridesharing services, including Uber, DiDi, and Ola, see their drivers as independent contractors. It’s best practice to thoroughly go through and comprehend employment contracts before signing.
Another consideration is how driving for a rideshare company may impact your auto warranty and insurance plan.
38. Hobbyist
You can make additional money from hobbies if they result in surplus creations that the hobbyist is ready to part with.
Local markets and online marketplaces like Etsy, Facebook Marketplace, and Instagram are popular places to buy and sell handcrafted goods such as jewellery, knitwear, woodwork, ceramics, homewares, and even apparel.
Create your e-commerce website using tools like Shopify, Wix, or GoDaddy.
39. Professional ‘flipper.’
You can make some additional money if you have the time and abilities to restore or repair old or unwanted objects, either ones you already own or ones you can get for free or cheap, and then resell them.
Home furnishings, automobiles, and real estate are hot commodities on the “flipping” market.
40. Reseller
A ‘flipper’ buys and sells secondhand goods, while a shopper does the same thing but with newer goods, such as apparel, accessories, or furniture.
You may also get started right away by selling things you currently own that you no longer have any use for but might sell for a profit.
Online marketplaces like eBay and Gumtree are good locations to sell things, but social media sites like Facebook Marketplace and Instagram are also growing in popularity. When selling anything online, it’s important to consider the risks associated with in-person pickups.
41. Rent Your Wardrobe
If you have any high-end or designer clothes you don’t wear much, you may put them up for rent on sites like Designerex and the Volte.
If you give out valuables, it’s smart to document them thoroughly in case they are returned broken. Designerex claims to provide a rental estimate, but the final price you set on the site is up to you.
43. Gardener
If you like working outside and are okay with getting your hands filthy, gardening is a great side business to start. If you have an eye for design, advertise your gardening services as lawn mowing, hedge trimming, weeding, or landscaping.
While Airtasker is a great place to get the word out about your gardening services, you can also consider placing flyers and notices in public places like the library, the supermarket, and on social media.
43. Urban Farmer
Is there room for a garden, and do you have a green thumb? You could sell your farm’s fresh goods and supplement your income. For example, this might come from selling fresh produce or eggs to family, coworkers, and neighbours.
Establishing a permanent booth there may take things to the next level if you produce enough food to sell at farmers’ markets.
44. Succulent Grower
Growing and selling the “now” succulent plants might provide supplemental income. Because of their modest size, you won’t need much room to develop them, and you can easily multiply them by dividing them.
45. Fruit Picker
Due to the importance of agriculture to Australia’s economy, rural farms can have harvest seasons that last almost the whole year.
Remember, too, that picking fruit may be strenuous on the body and that the industry’s treatment of employees has been controversial. Instead of stressing about obtaining a job alone, look into licensed recruiting agencies.
46. E-Scooter Collection and Charging
In major cities throughout the globe, the electric scooter is quickly becoming a common means of transportation. You may be compensated to ensure the continued success of electric car charging stations in high-traffic areas.
Companies specialising in micro-mobility typically employ “van or foot marshals” who pick up electric cars, switch out their batteries, clean them, and return them to the road.
However, it is only sometimes a simple task, as some electric cars weigh more than 25 kg and require serious hefting.
47. Cleaner
Many organisations and individuals have improved their sanitation practices due to the coronavirus outbreak. Those who need pocket change can capitalise on this situation by providing cleaning services on the side.
Combining your current employment with providing after-hours cleaning services is possible since many organisations have this need.
48. Paid Market Research
To get an advantage in the market, some businesses provide financial incentives to customers willing to try out and give feedback on new goods or concepts. Market research businesses often handle this, so looking into such organisations for potentially paid jobs is a good idea. Realtime
Research, Focus People, and the Purple Corporation are just a few examples of market research firms that pay their employees for surveys.
49. Language Teacher
You can pick up some additional income by offering to tutor people in a high-demand language like English.
This might be done formally at a language school, where you would need a certification to teach or informally for “students” who wish to enhance their language skills by speaking with a native speaker.
Other companies specialise in giving language instruction only online, making it possible to work from anywhere globally. Busuu, Babbel, and Italki are all examples of such language-learning platforms.
Remember, too, that much as at more conventional language institutes, you need professional teaching credentials to teach in any capacity. Some qualifications, such as being a native speaker of the language, may also apply if you want to be an instructor.
50. TV or Movie Extra
People could question you, “Don’t I know you from somewhere?” but if you’re ok with that, you might want to think about trying to succeed at being a film or TV extra.
Opportunities to appear as an extra in a film or television program may be more common than you think now that Australia is once again a sought-after location for production.
More streaming services are generating original works in cinema and television in addition to the conventional big-budget Hollywood blockbusters, which you can work on as a side gig.
51. Photographer
Numerous websites, like Burst, Shutterstock, and Getty Images, always search for images for use in advertisements and websites. New photographs will also always be needed since websites need to regularly update and revise their information as long as the internet is there.
You may also sell prints of your photos or print them on items like mugs and sweatshirts. Get your pictures published on tangible materials so you may sell them as wearable and framed art.
Getting high-quality reproductions of your images is simple and affordable, so if you have the proper idea, there is a market for it.
You may even charge for your photographic services. Even without including other events like concerts, graduations, pregnancy announcements, yearly family portraits, etc., photographing weddings alone may be a full-time job.
52. Design and Sell Your T-Shirts
If you like design and are interested in testing the waters of entrepreneurship, a print-on-demand firm may be a lot of fun.
Buying many t-shirts in advance is unnecessary if you use Shopify applications like Printful, Printify, and Gelato to print and send creative designs on demand.
53. Flyer Distributor
You may get money by delivering flyers door-to-door or placing them in mailboxes if you are okay with standing for extended periods or walking a lot.
Such positions are available via marketing firms like IVE. A distributor’s pay is “results-based” and varies according to region, product, amount needed, and other contextual considerations like topography and population density.
54. Secret Shopper
A “secret” or “mystery” shopper is hired to masquerade as a client to evaluate the quality of a company’s customer service. Australia is home to various mystery shopping companies, with remuneration varying depending on the firm.
You must purchase and get paid for your time and effort as a secret shopper.
The Realise Group, an Australian supplier of secret shoppers, lists “excellent writing skills, reliability, a good memory, and attention to detail” as desirable qualities for its shoppers.
55. Hair Seller
If you want to cut your hair short but have much to spare, you could find a creative use for it. Sometimes those who produce wigs and extensions may compensate their customers for the benefit of their actual hair.
There are often stipulations, such as the hair needing to be a specific length and free of artificial dyes, for this to be possible.
56. Start a Social Media Page and Build Income Through Sponsorships
When most people hear the term “influencer,” they picture someone who has sacrificed their personal life in exchange for a large following, but you need not put yourself in the spotlight to become a powerful influencer.
As a side business opportunity, social media management offers plenty of leeway for individual expression.
Building an engaged audience that companies desire access to is the key to making money from any kind of online material, whether photography, memes, digital art, or even specialised content like ASMR videos.
57. Mow Lawns and Do Other Landscaping Tasks
Finding customers is the most challenging aspect of beginning a lawn care company, but did you know there are a lot of one-time lawn care tasks available on sites like TaskEasy and TaskRabbit?
Anyone with a green thumb and some extra time on their hands may benefit from taking on one of these temporary occupations.
58. Proofreading
In 2022, proofreading will be a very powerful and popular side business. Freelance writers with excellent command of the English language and grammar should apply here. When compared to editing, proofreading is easier.
Proofreading comes after editing because editors pay attention to different text parts. When proofreading, you should look for typos and obvious grammar, spelling, and punctuation mistakes.
Yes, numerous websites may superficially serve this purpose. Even so, businesses seek freelance writers and proofreaders to guarantee quality material as they increase their online presence via website launches, blogs, and social media.
Freelance proofreading jobs may be found on the same freelance marketplaces as writing jobs, such as Upwork and Fiverr.
Having another set of eyes go at your text is the ideal method to approach proofreading.
59. Virtual Assistant
A virtual assistant’s duties range from light administrative support to full-fledged accounting. A virtual assistant’s daily duties vary from data entry and organising appointments to making phone calls and replying to emails.
You can earn additional money from the comfort of your home if you have solid communication skills, previous customer service experience, and some spare time.
60. Start an Ecommerce Store
The growth of the online retail sector is well documented. There are several advantages to running an online business, including drop shipping, user-friendly layouts, digital payment acceptance, the absence of physical storefronts, and the availability of goods around the clock.
Sites like Shopify and Amazon provide virtual storefronts where you can sell your wares online and give helpful tutorials on setting up shop, processing payments, promoting your brand, and much more.
Also, sites like Etsy and eBay are great for targeting specific niches, and site hosting services like WordPress are great for getting your online shop up and running.
61. Create an Online Course
Do you know much about something and feel comfortable teaching others about it? Developing an online course may earn side money and even passive revenue.
With the ability to become certified upon completion, online learning sites like Udemy, Coursera, and Teachable have revolutionised the educational system.
These services allow you to advertise your courses to a broad audience and reassure your clients that their financial information is safe with you.
You may sell your courses directly to your followers on social media if you want to use something other than a platform to distribute them. Developing a system and selling it online numerous times allows you to generate passive revenue.
62. Dropshipping
Consider beginning a dropshipping company if you like the convenience of print-on-demand’s automated features but would instead focus on marketing and operations than designing unique products.
Another way to make money online is via drop shipping, in which a third company handles the production and distribution of your items. It’s as simple as opening a shop, setting prices, and advertising.
Since items are only sent after they have been bought, dropshipping is a low-risk business model that, provided marketing costs are kept in check, may provide substantial profits. You may dropship on online marketplaces like Amazon and eBay to expand your consumer base further.
63. Superannuation
Due to the nature of the labour you conduct as part of your side hustle, you are probably not eligible to receive super contributions from the platforms you use to accomplish that employment.
Instead, you might use the money you’ve earned to make voluntary contributions to your current super account. According to Moneysmart, if you make voluntary payments to your super, you can lower the amount of tax that you owe.
64. Produce and Market Your Handmade Items
Making and selling your creations might be the perfect side business for you if you’ve ever wanted to turn your passions into a source of income. Handmade goods are a great way to set yourself apart from the competition, but mastering a trade takes a lot of time and effort to masterwork.
Consider an activity you would undertake even if you weren’t paid. Whether it’s woodworking, knitting, painting, or creating, these pastimes may provide the groundwork for many one-of-a-kind supplementary income opportunities.
What Risks Should I Watch Out for With a Side Hustle?
Extra money is always welcome, but casual or contract work found via internet platforms is subject to different rules and regulations than permanent positions.
According to Dr Penny Williams of QUT Business School, who co-authored the study Digital Platform Work in Australia, employees “wear the risk” as a consequence.
If you still believe a side job is a good idea, financial and personal variables must be considered. Examples of such things may be:
1. Tax
The Australian Taxation Office (ATO) states that any money you make above a certain amount will be taxed. Remember that your yearly taxable income would be the sum of the money you make from your side gig and your regular job.
If your side gig fits the ATO’s requirements for company registration, you’ll have to sign up to collect GST from customers.
If you want to know how much tax you owe and whether or not you qualify for any tax breaks, seeing a licenced tax expert is an excellent option.
2. Insurance
Several types of insurance may shield you monetarily from potential dangers that may arise during your side gig activities. Automobile insurance, general liability coverage, and disability insurance are just a few examples.
3. Choice of Platform
It’s crucial to comprehend the terms and conditions, fees, and user protections third-party platforms provide if you use them to promote your services or set up employment. These safeguards may include insurance and security measures.
Before joining up, it may be helpful to investigate several platforms, read reviews, and talk to other users.
Why an Online Side Hustle?
Start an online side business now for these top four reasons, as listed by Entrepreneur.
- Make sure you have many different sources of revenue. Even if you have enough revenue from your day job to cover your living costs, having a side business offers you an additional income stream, which is empowering. In reality, you always need more money, particularly if the additional funds come from internet sources and total a few hundred dollars monthly.
- Clear your debt. The typical American owes approximately $90,000 in debt. Paying off debt is one of the main reasons for a side business. Paying off debt with one source of income may be challenging. With additional monthly funds, you may reduce your debt significantly.
- Create riches. You may use your money to work for you and accumulate wealth if you don’t have any debt to pay off or if you’ve paid off all of your debt with your side business. This might include increasing your emergency funds, savings account balance, or financial portfolio. If you maintain discipline while working a side gig, you may achieve your financial objectives more quickly.
- Give your imagination a place to flow. Let’s be real here. Regular day jobs may be dull. Finding a side business that allows you to connect with your hobbies, express your creativity, and earn money is a win. Because they are passionate about their work, some individuals even turn their side businesses into full-time careers.
Factors To Consider Before Starting A Side Hustle
Starting a side business is an excellent opportunity to do something you love while bringing in additional cash. However, there are a few things to think about before you dig in:
- Investment of time is essential, particularly in the early phases of starting a side business. Be sure that your new endeavour won’t cause you to fall behind on existing commitments.
- Demand in the market is something you should investigate before releasing your side business. Do people want what you’re selling? Can you get your price across?
- Depending on the nature of your side gig, a business licence, state registration, and insurance may be necessary. Get familiar with the laws that pertain to your enterprise.
- Starting a side business sometimes requires an initial outlay of funds. Before starting, calculate the total price of materials, machinery, and advertising.
- Work-life harmony: Launching a side business is thrilling, but be careful not to let it consume your life. Maintain a balanced existence by establishing healthy limits and prioritising self-care.
- These considerations can help you launch a profitable and long-lasting side business.
Frequently Asked Question – Side Hustles in Australia
How Do You Start a Side Hustle?
Finding an appropriate market segment is the first step. In what areas do you feel most confident? Make some money! Create a memorable brand identity next. Make it something others will want to talk about.
Then, get moving! Use networking opportunities, community events, and informal communication to spread the word about your side hustle. Have patience, keep at it, and take the initiative. If you invest time and effort, your part-time job can become a full-fledged business. Now is the time to go to work!
What Side Hustles Pay the Most?
Do you want to earn some additional money on the side? Think about taking up one of these high-paying jobs that might put you on the path to financial independence.
First, if you have a talent for photography and a desire to make money, why not do so? Consider becoming a freelance photographer or selling your photos on stock picture websites.
You might also start a garden or lawn care company if you have a green thumb. You can earn a lot of money with just a little effort. Consulting and coaching may be successful careers in their own right. Don’t settle for a meagre income from your side gig; go for the moon!
What Is the Best Side Hustle in Australia?
Pet sitting is one of the most sought-after side jobs in Australia. Considering how common it is for Australians to have pets, pet sitting is a great way to make extra income. In addition, being among adorable animals is certain to brighten your mood.
Finding the Perfect Side Hustle
Get your mind working! Refrain from settling for the tried-and-true methods of the past. Instead, focus on developing unique, specialised concepts that capitalise on your skills.
Second, think about how you now live. Which would you rather do: work from home or go out and about? When you know what you want, you can focus on getting it. Advertise your business on social media and network like a pro to attract new customers.
You’ll be well on your way to success in your side hustle endeavour with just a bit of perseverance and enthusiasm.
Conclusion
Consider launching a side business to supplement your income from your current position or explore a new career. It’s helpful to pick one that aligns with your interests, abilities, and career objectives to pursue one successfully. By learning about possible side jobs, you can make money doing something you enjoy and building your professional network in a new industry.