Did you know that millennials are often dubbed the “burnout generation”? Millennials are motivated to succeed and frequently put in long hours of work to accomplish their objectives. Unfortunately, in the Philippines, not all workers are compensated enough. Thus, many millennials venture into small businesses for extra income.
If you’re a busy millennial looking for a side business for extra money or as a stress reliever, we have some suggestions for you.
1. Dropshipping
If you spend too much time on social media, turn that into an opportunity to earn. Dropshipping is a business model where you have an online shop but don’t need stocks on hand. In a nutshell, it means you post your products online and when someone orders, you inform your supplier, who will deliver the order directly to your customer. It’s easy, hassle-free, and easy to manage. Just make sure you have a credible and reliable supplier.
2. Affiliate Marketer
Being an affiliate marketer means you earn a commission for promoting or marketing a business’s products or services. As an affiliate, you get to choose products or brands and then inquire from the business owner if you can be an affiliate. You’ll promote their products on social media and you’ll be given a link to direct orders. These will also track the sales you made. For every piece you sold, you earn a profit.
3. Rental Business
This type of business is simply making use of things you already have. You can rent them out and earn extra money. It may be best if you know the renter personally, so you won’t worry about fraud or scams. Common items that people put for rent are:
- Camera and lens
- Bike
- Audio equipment
- Clothes such as gowns, party dresses, etc
- Costumes
- Bags and luggage
4. Petsitting
If you’re a pet lover and you find pets a stress reliever, you can turn that hobby into a business. You can offer to petsit your friends or family’s furbabies for a fee on weekends. It’ll also be a good distraction and keep your mind rested from too much work.
5. Ridesharing
With the price of gasoline going high almost every week, ridesharing is a good idea. Check with your neighbours or colleagues who live near you and offer to share a ride for a fee. Even with only one customer, that already means a big saving from your gas budget every day.
These are just some of the small business options you can consider as a busy millennial. These businesses won’t take much of your time and are great distractions from work. Even more, you get to earn!
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