Detailed Summary of "The 10 Best Side Hustles of the Year" - Episode 648 of The Side Hustle Show
Released on December 26, 2024 | Hosted by Nick Loper of Side Hustle Nation | YAP Media
Introduction
In Episode 648 of The Side Hustle Show, host Nick Loper delves into the top 10 side hustles that have made significant waves throughout the year. Drawing from his extensive archive of episodes, Nick curates a list of side hustles that not only garnered substantial attention but also demonstrated substantial earning potential and scalability. The episode is a treasure trove for aspiring entrepreneurs seeking actionable ideas to boost their income streams.
1. Jackie Mitchell's $100 per Day Side Hustle Challenge (Episode 594)
Overview:
Jackie Mitchell's side hustle revolved around a personal challenge to earn $100 daily, culminating in over $10,000 within 100 days. Her approach primarily leveraged "plug and play" methods, allowing for relatively easy implementation.
Key Strategies:
- Paid Surveys: Jackie utilized platforms like Swagbucks for mobile game testing and Prolific for higher-paying academic surveys.
- Data Annotation: Engaging in tasks through Remotasks and Data Annotation sites to train large language models.
Notable Insights:
At [15:30], Jackie emphasized the value of Prolific, stating, "Prolific gives you mostly 30-minute and under surveys, but it pays like $7 per survey. That's really good in terms of hourly rate."
Earnings:
Participants can potentially earn between $10 to $30 a day, aligning well with various side hustle goals.
2. Website Rental Business (Rank and Rent Model) (Episode 597)
Overview:
The rank and rent model involves creating niche-specific websites optimized for local SEO and leasing them to service providers seeking quality leads.
Key Steps:
- Identify a Niche: Focus on service-based industries with high-ticket offerings, such as concrete driveway repair.
- Optimize for SEO: Utilize local SEO strategies to rank the website high on Google.
- Rent to Providers: Lease the site to local businesses for $500 to $1,500 per month, depending on traffic and lead quality.
Guest Insight - Meow Rios:
Meow highlighted the importance of niche selection, noting at [22:45], "I really like high-ticket types of work like concrete driveways or roofing. These niches provide substantial value to service providers, making them willing to invest in quality leads."
Scalability:
This model allows for replicating the process across different niches and cities, ensuring diversified and recurring income streams.
3. Vending Machine Business (Episode 599)
Overview:
Vending machines represent a passive income opportunity, generating sales even when the owner isn't present.
Key Considerations:
- Location Selection: Target venues with high foot traffic, such as senior centers and apartment complexes.
- Product Mix: Modern amenities like credit card usage enhance sales potential.
Guest Insight - Mike Hoffman:
At [30:10], Mike explained, "A good location can earn you $500 a month. Place 10 machines, and you're looking at $5,000 a month. It's scalable and relatively hands-off once set up."
Challenges:
Finding and securing optimal locations requires persistence and effective pitching to property managers.
4. Billboard Business (Episode 608)
Overview:
Chris Brown’s venture into the billboard business combines real estate acquisition with advertising revenue.
Key Steps:
- Acquire Billboards: Purchase undervalued or distressed billboards, often from tax auctions.
- Secure Permits: Ensure legal compliance and ownership clarity through processes like quiet title actions.
- Lease Advertising Space: Rent out billboard space to local businesses.
Guest Insight - Chris Brown:
Discussing his first deal at [38:20], Chris shared, "I purchased a billboard for $75,000, located at a busy intersection. Each side can be leased for around $600 per month, quickly offsetting the initial investment."
Long-Term Earnings:
Billboards can generate substantial income with minimal ongoing effort, provided they remain in high-visibility locations.
5. Photo Organizing Business (Episode 619)
Overview:
Cheryl DeFrank's photo organizing service transforms chaotic photo collections into streamlined digital and physical archives.
Key Services:
- Physical Sorting: Organizing print photos chronologically.
- Digital Management: Sorting and cataloging digital photos from devices.
- Scanning and Digitizing: Converting physical photos into digital formats.
Guest Insight - Cheryl DeFrank:
At [45:15], Cheryl explained, "Starting with friends and family was crucial. Once my first client saw the value, word-of-mouth spread rapidly, and my phone hasn't stopped ringing for over 10 years."
Pricing:
Cheryl charges $100 per hour, with projects averaging 20 hours or more, ensuring significant income from each engagement.
6. Software Consulting (Episode 627)
Overview:
Christy Da Silva’s success in software consulting is based on specializing in niche software tools and leveraging content marketing to attract clients.
Key Strategies:
- Niche Specialization: Focus on specific software like Honeybook and ClickUp.
- Content Creation: Develop targeted content on platforms like YouTube to educate and engage potential clients.
- Pricing Power: By becoming an expert, Christy was able to significantly increase her rates.
Guest Insight - Christy Da Silva:
At [52:40], Christy shared, "By niching down and becoming a specialist in Honeybook and ClickUp, I 10X'ed my hourly rate from $30 to $300 for strategy sessions."
Customer Acquisition:
Most clients find Christy through her YouTube content, which establishes trust and showcases her expertise before any direct contact.
7. Lawn Mowing and Window Washing Businesses by Young Entrepreneurs (Episodes 610 & 630)
Overview:
Jack Fleming and Jack Limebach exemplify how traditional local services like lawn care and window washing can scale into substantial businesses with the right strategies.
Key Strategies:
- Door-to-Door Sales: Initially securing clients through direct outreach.
- Online Advertising: Utilizing platforms like Instagram to boost visibility and bookings.
- Scaling Operations: Hiring additional help and investing in better equipment to handle increased demand.
Guest Insights:
- Jack Fleming (Episode 610): Achieved $70,000 in profit as a teenager by expanding from simple lawn mowing to more complex projects.
- Jack Limebach (Episode 630): Grew his window washing business to $10,000 monthly revenue by integrating effective Instagram ads, achieving a high return on investment.
Earnings:
With strategic marketing and operational scaling, these businesses can transform modest initial investments into lucrative income streams.
8. Junk Land Flipping Business (Episode 629)
Overview:
At 81 years old, Wayne Semenoff showcases a unique approach to real estate by flipping undervalued or "junk" land into highly profitable assets.
Key Steps:
- Identify Undervalued Land: Find vacant parcels with potential but hindered by legal or zoning issues.
- Resolve Title Issues: Engage in legal processes to clear titles and make land buildable.
- Increase Land Value: Through legal modifications like variances, substantially increase the land's market value.
Guest Insight - Wayne Semenoff:
At [60:05], Wayne recounted, "I bought a half-acre lot for $1,000, resolved a title issue for $15,000 in legal fees, and increased its value to $500,000 within four and a half months."
Earnings Potential:
By transforming unusable land into valuable real estate, Wayne illustrates the immense profit margins achievable through expertise and strategic investment.
9. Digital Products Business on Etsy (Episode 637)
Overview:
Debbie Gartner's digital products business on Etsy demonstrates the scalability and low overhead of selling digital goods.
Key Products:
- Trackers: Simple tools like a one-page blood pressure tracker.
- Trivia Games: Seasonal and event-specific trivia games, such as July 4th or Thanksgiving editions.
Key Strategies:
- Interest-Based Creation: Develop products based on personal interests and trending topics.
- Scalability: Create once and sell repeatedly, enabling passive income with minimal ongoing effort.
Guest Insight - Debbie Gartner:
At [68:50], Debbie explained, "Starting with simple products and gradually expanding into themed trivia games allowed me to tap into various market demands, ultimately building my business to $4,000 a month."
Growth Approach:
Consistent asset building and responding to market trends were pivotal in Debbie’s steady growth over two years.
10. Remote Cleaning Business (Episode 645)
Overview:
Skyler Sullivan's remote cleaning business exemplifies the drop servicing model, where he manages operations and marketing while subcontracting the actual cleaning work.
Key Strategies:
- Brand Building: Establish a strong online presence and brand identity.
- Operational Excellence: Streamline logistics and customer service to ensure seamless service delivery.
- Subcontracting: Hire reliable cleaners to handle the physical cleaning tasks.
Guest Insight - Skyler Sullivan:
At [75:30], Skyler shared, "By building Nebraska Elite Cleaning, I was able to achieve $60,000 a month by focusing on scaling operations and hiring dedicated cleaners who uphold our quality standards."
Profit Margins:
Skyler maintains a 40-50% margin on residential jobs, emphasizing efficiency and high-quality service to maximize profitability.
Conclusion
Episode 648 of The Side Hustle Show offers a comprehensive overview of the most effective and profitable side hustles of the year. From digital ventures like Etsy sales and software consulting to traditional services like lawn care and unique opportunities like junk land flipping, Nick Loper provides actionable insights and inspiring stories from a diverse array of entrepreneurs. Each side hustle highlighted demonstrates the potential for substantial income, scalability, and personal fulfillment.
For listeners eager to dive deeper into any of these opportunities, Nick has conveniently linked all relevant episodes in the show notes @sidehustlenation.com/bestof24 and curated them into a Spotify playlist for easy access. Whether you're a seasoned entrepreneur or just starting your side hustle journey, this episode equips you with the knowledge and motivation to take actionable steps toward financial growth and entrepreneurial success.
Big thanks to all the incredible guests featured in this episode for sharing their insights and experiences. Special gratitude to our sponsors for supporting the creation of valuable content accessible to everyone.
Hustle on! 🚀