In 2024, many people are considering starting a side job alongside their main employment, often referred to as a "side business" or "side hustle," to increase their income. This need is particularly pronounced in an economic context marked by inflation. A side hustle is an activity that allows you to generate additional income outside of working hours. In addition to financial benefits, embarking on a side project also enables you to acquire new skills. Are you looking to start a side business but unsure which activity would be the most profitable or best suited to your skills? Here are 8 ideas to quickly supplement your income in Vancouver.
- Sell your skills
If you have a creative spirit, selling your handcrafted items or artwork is a great way to generate additional income. You can showcase your creations on online platforms like Etsy, eBay, or Amazon.
Furthermore, there are numerous craft fairs and art exhibitions (Granville Island, Mount Pleasant, and Gastown) where you can showcase your work to attract potential buyers. By marketing your creations, you not only make money but also have the opportunity to share your talent with a wide audience.
- Answer surveys
If you always have an opinion to share and enjoy expressing it, you could be paid for it. Survey companies like Léger or Angus Reid regularly seek participants to answer online surveys or join in-person focus groups. With the Léo app, launched by Léger, you accumulate points that can be redeemed for gift cards.
Consider signing up on sites like SurveyMonkey or sondagesbienspayes.net, which offer up to $50 per survey. You’ll receive email invitations with questionnaires to complete, and you’ll be paid via PayPal or by check.
Check out this article: The Best Side Hustles in Alberta to Maximize Your Income
- Trading on marketplaces
Buying at a low price to resell at a higher price is a timeless business rule that has been valid for millennia. If you have good knowledge of one or more types of products, you can find great deals through Facebook Marketplace.
Then, you can choose to store these items at home and resell them when the time seems right, or enhance them to offer at a more attractive price. Another option is to try selling them on platforms like eBay or Amazon to reach a broader customer base. You could earn between 30,000 and 100,000 CAD per year.
- Selling items at thrift stores
Every day, people bring items they no longer need to second-hand stores. Often, the profits generated by these thrift stores are either donated to charities or reinvested in the store. If you're looking to start a side business alongside your job, visit thrift stores to find items to resell online.
The items that resell most easily are:
- Antiques
- Books
- Vintage clothing
- Children's toys
- Furniture
You can find other interesting items as well.
- Affiliate marketing
Affiliate marketing is also an excellent way to add a revenue stream to your personal budget. Not only is it easy to set up, but there is also a multitude of partnership networks available on the web today.
When discussing this topic, the first thing that usually comes to mind is the well-known advertising network, Adsense. This system involves placing ads on your site, and you earn money based on the number of impressions and clicks. However, although it is popular, it is not the most lucrative network, and substantial web traffic is needed to generate significant earnings.
You can generate between $500 and $10,000 per month, depending on the niche and target audience. Experienced affiliates with a solid strategy can achieve higher earnings by capitalizing on growing markets.
Also check out: Side Hustles and Opportunities in Edmonton: Here Are the Best Activities and How to Get Started!
- Investing in stocks, dividends, and real estate
It's a long-term approach that requires a solid understanding of the financial and real estate systems. Investing in dividend stocks is an excellent way to increase income over the long term, but it requires regular commitment. Getting into real estate, on the other hand, demands in-depth market knowledge and initial capital.
Additionally, it is possible to trade on the stock markets through your bank or independent platforms. You can also use the Wealthsimple Trade tool. This way, you can focus solely on buying Canadian stocks and ETFs (exchange-traded funds) in your portfolio.
- Create a blog and monetize it
If you are passionate about a subject and have writing skills, becoming a blogger would be an excellent way to generate additional income. Although blogging has lost some popularity compared to 20 years ago, it is still possible to create a successful blog by focusing on a specific niche.
Whether you choose to launch a blog on vegan recipes, travel tips for Japan, or any other topic, it will be important to regularly enrich it with content. Learning search engine optimization (SEO) techniques will help you rank for strategic keywords and attract a maximum number of visitors. The larger your audience, the more you can monetize your blog through ads or sponsored posts by brands.
This side hustle can generate between 500 and 5,000 CAD per month, depending on the niche and monetization strategy. Earnings primarily depend on traffic and advertising partnerships established with local and national companies.
- Refurbish and sell furniture
Are you a DIY enthusiast or interior design lover? The concept of refurbishing and reselling furniture might be perfect for you. The idea is simple: find, restore, and resell furniture to make a profit. Your success in this field will depend on your ability to find low-cost pieces or transform vintage furniture into sought-after items on the market.
This side project is ideal for those who enjoy browsing flea markets, thrift stores, and have a good sense of business.
