5 Profitable Rakets for Driven 20-Somethings
Published: June 5, 2015 | Updated: December 12, 2019 | Posted by: Carlo Miguel Castañeda | Personal Finance
A side business (otherwise known as raket, or sideline) is a way of pursuing parts of your passions, and may have the potential to become something more, and most people consider it a way to set up a small business that encompasses their interests, or allows them to use their talents outside of a regular job.
Some may say that balancing a career and a business might not be successful immediately. “There is no such thing as overnight success or easy money. If you fail, do not be discouraged; try again,” said Henry Sy, Sr. – founder of SM. Here are a few ideas to get you started:
There’s no shortage of people wanting to buy things online. There are plenty of websites, such as OLX or EBay that help promote you as a seller. It won’t matter what kind of product you plan on selling, what may matter to your eventual buying public is the quality and the price.
Consider this: Start out with a promotion on the items you are selling, and using social media (and your friends) to boost sales.
Events photography, wedding photography, there are a lot of people who’ve picked up a DSLR kit for less. If you have a natural talent for capturing moments, this is a side business worth investing in. You can also sell stock photos.
Consider this: It may start out slow, but building a good portfolio and a reputation goes a long way towards establishing your brand.
This shows your ability to teach and nurture while learning new things. Pick a school subject you’re best at, and do a little advertising that you can home tutor. You can also apply as an online English tutor.
Consider this: Being a tutor requires patience, and the ability to make someone understand a concept through more than droning on about subject matter.
Cooking is an art or science depending on who you ask. Everybody else loves food, especially home-cooked meals and home-baked treats. If you happen to like cooking or have invested in a cooking class, why not start a side business making and delivering meals to people? You can tailor the meals to people’s certain dietary needs, or just to satisfy cravings.
Consider this: Free samples are a great way to get your product out there, as will fair pricing on your goods. Quirky names are also likely to attract attention.
Event and Party Planning
A knack for organizing and connecting with people can thrive in a sideline like this. There’s always a birthday or a seminar that needs someone to put it all together. You can also establish relationships with other services like flowers, catering, and media coverage to make your planning service a competitive one.
Consider this: Starting small is a key factor in establishing yourself as a planner. Small events that are well done eventually grow into organizing larger, more glamorous events.
These are just a few ideas that you can start with. The only limit to your finding a way to augment your income is your imagination and your drive. It’s also a great way for building up funds to expand, or as savings for retirement.