Most people aren’t willing to take the big plunge and run their own business because they have a day job. Committing to the world of business is pretty tough and usually involves a number of uncertainties.
However, there are several ways to explore the business world without having to give up your stable job. If you think you don’t have the guts to go full time on business, it’s best that you test the waters on sideline business first.
Here are 5 sideline business ideas for budding entrepreneurs with day jobs.
1. Micro-lending
Micro-lending business is a great way to help people in need of cash. This type of business, which involves lending out of small amounts of cash usually without a collateral, is considered a promising business venture. You may start this business informally but make sure that you’ll be able to screen borrowers carefully to prevent future problems in terms of collection. Eventually, if your lending company gets bigger, you will need to legitimize its operations and be knowledgeable about the laws governing it.
2. Buy and Sell
Perhaps buy and sell business is considered one of the most common enterprise in the world. In fact, thousands of big businesses worldwide have started from buying new and used products and reselling them for a profit. Buy and sell entrepreneurs can take advantage of social media to market their products. Moreover, online shops had made it a lot easier and convenient for customers to buy products.
3. Dog Breeding
If you’re a dog lover and have a knowledge in breeding, then it would be perfect for you to start a dog breeding business. It’s not very easy to start this type of business as you need to invest money and time for dogs, veterinary care as well as licensing. For this type of business to be successful, it is essential that you select the right breed of dog to sell based on market demands as well as your capability to raise and breed them. Gain knowledge in dog breeding by attending seminars and joining breeding associations.
4. Events Organizing
Most events such as birthdays and weddings are usually held on weekends so putting up this type of business won’t be in conflict with your day job. However, it is essential that you keep things organized all the time and maintain a good relationship with suppliers and clients to be successful in this venture. Aside from the professional fee for organizing an event, there are a variety of sources of revenue in events organizing business.
5. Turn Hobby into a Sideline Business
Many successful sideline businesses start from simple hobbies such as baking, photography, or craftsmaking. But in order for this type of business to be successful, entrepreneurs should mix passion with professionalism. Take additional classes or seminars to master your craft. You also need to set yourself apart from other entrepreneurs with similar business by offering something extra.
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