Toronto, one of Canada's most dynamic metropolitan areas, has an economic environment conducive to creating secondary jobs. Whether you are a student, a full-time employee, or an entrepreneur, there are numerous ways to improve your finances. Here are some side activities you can do with minimal skills.
1. Driving and Delivery with Mobile Apps
With the rise of on-demand services, platforms like Uber, Lyft, DoorDash, and SkipTheDishes allow you to generate extra income. These apps enable you to work on your own schedule, making them ideal for those looking to earn money outside of their regular working hours. You can be both a taxi driver and a delivery person at the same time.
Advantages:
- You can choose your working hours;
- No specific qualifications are required;
- Consistent demand.
Disadvantages:
- The costs associated with maintaining your vehicle reduce your profits;
- With the platforms being popular, it can be challenging to stand out.
Rates for driving and delivery services through mobile apps in Toronto generally start around 10 CAD for short trips. For longer distances, prices can reach 25 CAD or more, depending on the duration and distance. Delivery services, like Uber Eats, often charge additional service fees, which can vary the total cost.
2. Event Planning
By 2028, the global events industry is expected to reach an impressive value of $1,552.9 billion. It's clear that people are eager to resume their celebrations and make up for lost time. This makes it an ideal time to enter this field!
An event planner handles all aspects and ensures that clients' expectations are met, leaving no detail overlooked. They are often seen orchestrating major events like weddings, conventions, or festivals. Increasingly, people are turning to their services for more personal occasions, such as birthdays or baby showers.
This profession is ideal if you are sociable, have a talent for organization, and want to use your skills to please others. A strong network of privileged contacts can only help you stand out even more.
Advantages:
- Flexibility in scheduling;
- A high level of creativity;
- Diversity of projects;
- Networking opportunities;
- Personal and professional growth.
Disadvantages:
- High pressure and stress management;
- Irregular hours;
- Physical and logistical work;
- Dependency on clients;
- Investing in equipment, software, or even assistants;
- High competition.
In Toronto, neighborhoods conducive to event planning include Downtown, ideal for conferences and galas, and Yorkville, perfect for high-end events. Other options like Liberty Village and the Distillery District offer creative and historical atmospheres, attracting a variety of event types.
Read: 10 Best Side Hustles in Ontario to Boost Your Income
3. Crafting
With the growing trend of consumers supporting local artisans, if you have crafting or sewing skills, why not monetize your talent by offering your creations online?
Marketing handmade or "homemade" products requires a moderate initial investment. However, this activity can be more complex to start than others. Indeed, you need to create the items, target the right market, and then successfully sell them.
That said, many people have succeeded in thriving with this type of project. If you have a product that is likely to appeal to a wide audience, the effort could be worth it.
Advantages:
- Low initial investment;
- Opportunity to monetize a passion;
- Flexibility in production schedules;
- Potential for growth based on demand;
- Online sales accessible to a wide market.
Disadvantages:
- Time required to create the products;
- Difficulty in finding a target market;
- Significant competition with other artisans;
- Management of inventory and materials;
- Sales dependent on trends.
4. Online Selling (E-commerce)
If you have an eye for trends and an entrepreneurial spirit, online selling could be a lucrative option if you're looking for ideas to diversify your income. Toronto has a large multicultural population, which opens up many opportunities to cater to a diverse clientele. You can sell physical products through platforms like Shopify, Etsy, or Amazon, or even digital products like e-books or online courses.
Advantages:
- High income potential;
- Low barriers to entry;
- Global market.
Disadvantages:
- The e-commerce market is saturated, and standing out requires a sophisticated marketing strategy;
- For physical products, logistics can be a challenge, especially if you do not want to manage your inventory directly.
Tip: Using dropshipping services or third-party distribution centers reduces the logistical burden if you are selling physical products.
5. Rental Real Estate Investment
Real estate is a major industry in Toronto, and while purchasing properties may require significant capital, there are other ways to invest in this sector. For example, you could buy a property to rent it out short-term through platforms like Airbnb, or even rent a room in your own home.
With such an investment, you can achieve annual returns of 10% to 14%, depending on the location and type of property. Monthly rental income typically ranges between 1,500 CAD and 3,000 CAD, depending on the features and location of the properties.
Advantages:
- Passive income;
- In addition to rental income, the value of your property increases over time, making it a long-term investment.
Disadvantages:
- Managing tenants and the property can be time-consuming;
- Purchasing a property in Toronto requires a significant initial investment.
Tip: To reduce management fees, you can hire a property management company that will handle tenant relations and necessary repairs.
6. Tutoring and Coaching
Whether you're an expert in mathematics, music, or sports, offering tutoring services is a great way to generate extra income. You can also provide coaching services, especially for individuals looking to develop professional or personal skills.
Advantages:
- You can set your own rates and schedules;
- Strong demand;
- You will help others achieve their goals while earning money.
Disadvantages:
- Your income depends on the time you can allocate to these sessions;
- It is difficult to stand out in a saturated market, especially for popular disciplines.
In Toronto, tutoring and coaching can earn you between 30 CAD and 100 CAD per hour, depending on the subject and your experience. Tutors specializing in in-demand subjects, such as languages or sciences, charge more, reaching up to 150 CAD per hour.
Tip: Platforms like Superprof and First Tutors Canada make it easy to connect with students. You can also advertise your services in local groups on Facebook or other social media networks.
7. Content Creation on YouTube or Twitch
Video content creation is a popular opportunity to generate passive income. If you are passionate about a particular subject, such as video games, cooking, or even vlogging about life in Toronto, you can monetize your content through YouTube or Twitch.
Advantages:
- Once you have built an audience, your videos can generate ongoing advertising revenue;
- In addition to advertising revenue, you can earn income from partnerships, donations, or merchandise;
- You can create content on topics that you are passionate about.
Disadvantages:
- Building an audience takes time and commitment;
- The success of your videos largely depends on the platforms and their algorithms, making growth unpredictable.
Tip: Invest in good video equipment and develop a consistent content strategy. Regularly engage with your audience to build loyalty.
8. Concierge and Home Assistance Services
Toronto, with its continuously growing population, has an increasing demand for home assistance services, such as cleaning, gardening, or senior assistance. If you enjoy helping others, these services provide a stable income and regular opportunities.
Advantages:
- These services are recurring and provide predictable income;
- You do not need specific qualifications to offer these services.
Disadvantages:
- Some tasks, such as cleaning or gardening, are physically demanding;
- Your income will directly depend on the number of hours you are able to work.
Tip: Using platforms like TaskRabbit or Care.com makes it easier to find clients in your area.
Take the time to test multiple options and adjust your strategy based on what works best for you. Once you find the right opportunity, you can turn your side hustle into a stable and sustainable source of income.
If you found this article helpful, feel free to read: What are the Best Activities to Generate Extra Income in Toronto?
