Side hustle
Author
Discussion

Babber101

Original Poster:

115 posts

134 months

Thursday 6th January 2022
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Anybody ever having any joy in getting a side hustle that was worthwhile?

Seems like it’s a fine line between time/reward especially if a higher rate taxpayer and in the early days doing it outside limited company.

Drop shipping/e-commerce doesn’t seem worth the effort for the thin margins, just curious if anyone has made anything work

AL83

96 posts

55 months

Thursday 6th January 2022
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I've done a few things in addition to my day job, but never sustained as it took up too much time.

Buy to let - made a couple of hundred profit each month, but tax, gaps in rent and factor fees led to me selling and paying off some debts. Made a £18k profit on the flat after 5 years so was worth it on that basis.

Cleaning company - easy to start up but often workers let you down and you end up doing it yourself.

Amazon - dropship. Got in their first on a product and was making numerous sales each day but then the competition hotted up and the prices dropped.

Quite interested in looking at shares when I have some spare £.

Hope that helps.

bristolbaron

5,270 posts

228 months

Thursday 6th January 2022
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I’m sure there’s a very broad range from earning enough to quit the 9-5 through to losing everything that’s been invested!
9 time out of 10 though I’d guess people are better of sticking to what they do best, through overtime or focussing on their main ‘hustle’ enough that promotions/bonuses come thick and fast.

Some years back after leaving car sales I continued selling 1-2 cars at a time from home, sometimes alloy wheels etc too. It earned me enough to pay all of my motoring costs and insurance etc, but never enough that I’d consider doing it full time.

There are opportunities everywhere if you’re time rich and motivated, it just depends on your priorities.

Babber101

Original Poster:

115 posts

134 months

Thursday 6th January 2022
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Thanks

I always struggle to find the niche. Having only ever worked in big corps I am so far away from the real day to day world/markets

Simpo Two

89,407 posts

281 months

Thursday 6th January 2022
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Judging by the price of a medium haddock, which as I discovered this evening is now suddenly £8.50, sell fish!

Frimley111R

17,305 posts

250 months

Friday 7th January 2022
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bristolbaron said:
Some years back after leaving car sales I continued selling 1-2 cars at a time from home, sometimes alloy wheels etc too. It earned me enough to pay all of my motoring costs and insurance etc, but never enough that I’d consider doing it full time.
.
I did the same. If you know a bit about cars you can make £200-300 easy enough with just one thing as opposed to selling lots of smaller things for less.

BoRED S2upid

20,763 posts

256 months

Friday 7th January 2022
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Simpo Two said:
Judging by the price of a medium haddock, which as I discovered this evening is now suddenly £8.50, sell fish!
London I’m guessing? Double the price we pay and huge mark up’s.


RichTT

3,266 posts

187 months

Friday 7th January 2022
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Simpo Two said:
Judging by the price of a medium haddock, which as I discovered this evening is now suddenly £8.50, sell fish!
Surely the better choice is to catch fish?

PaulW100

112 posts

84 months

Friday 7th January 2022
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Are you looking to gain in the short term or looking to add personal wealth for life?

Side hustles can bring instant income, or instant debt, long term investing into a LIsa for say £100-150 a month over 20-30 years will add wealth to you for later in life for little to no effort in real terms.

Whats your goal?

No one here will be able to give you a succesful side hustle idea - as youve already stated 'it takes a lot of hassle' but guess what, everything successfull takes a lot of hassle.

hotchy

4,727 posts

142 months

Friday 7th January 2022
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Buy Alexa's for peanuts on black Friday etc then resell on ebay cheaper than amazon for months after making a tidy we profit.


Simpo Two

89,407 posts

281 months

Friday 7th January 2022
quotequote all
BoRED S2upid said:
London I’m guessing? Double the price we pay and huge mark up’s.
No, north Essex. I asked why, because the French aren't nicking them any more, and they said the quotas are still active and there aren't many fish about. So if true it's a supply/demand issue. Their price list (June 2021) has a medium haddock at £5.65

RichTT said:
Surely the better choice is to catch fish?
See quotas above. And anyway, my boat's not big enough...!

Correvor

150 posts

49 months

Friday 7th January 2022
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Making a bit of extra cash from a hobby - flipping bikes, furniture, etc. is fairly easy but won't net you anything serious. If you want to buy / sell something a lot will depend on location too, if you're in the arse end of nowhere, good luck.

I suspect a lot depends on how much you want to invest.......a rental could be a side hustle but you could just stick in shares. You could also identify stuff there'll be a waiting list for then try and get in early.....cars, watches, lego, etc. but they'll quite often go to known clients, not people who they suspect will resell.

Trendsetter

96 posts

81 months

Friday 7th January 2022
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Ever considered matched betting? I've made around £8k in a year but the sky's the limit if you have the money and put some work into it

mike74

3,687 posts

148 months

Friday 7th January 2022
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Trendsetter said:
Ever considered matched betting? I've made around £8k in a year but the sky's the limit if you have the money and put some work into it
Just seems such a faff when you've got to place 4 bets for every win.

Trendsetter

96 posts

81 months

Friday 7th January 2022
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mike74 said:
Just seems such a faff when you've got to place 4 bets for every win.
It'd only be two bets per offer - one back and one lay.
It can be a faff and each offer generally isn't worth a huge amount. Even doing the sign ups can be good for £1k though. But you do need a long term outlook and it's not for everyone

Babber101

Original Poster:

115 posts

134 months

Friday 7th January 2022
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Thanks for replies

Not looking for ideas/suggestions just curious if/how many people have taken something past the faff/too much hassle for too little reward.

Niches seem to get closed pretty quick nowadays with the internet as people pile in - doesn’t seem like many things stay the course unless they quickly become full on businesses

StevieBee

14,289 posts

271 months

Friday 7th January 2022
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Babber101 said:
just curious if/how many people have taken something past the faff/too much hassle for too little reward
My big non-work thing is motorsports photography. A few years back, had a major sort out and also started to dabble with a bit of Photoshop art; turning some of the photos into abstract artwork. I then signed up to a photo site that publishes photos that people can buy, ordering prints, canvases, mugs or whatever. I set the margins over the costs and the site is set up to take care of everything else. Whenever someone buys something, I get a message and the money drops into the account. Once set up, the only thing I need to do is update the site and promote it which I've not had the time to do for about 18 months.

Prior to Covid, I did a bit of DJaying (parties rather than clubs) which was good fun. Hanging that hat up though - I'm 55 tomorrow and couldn't name a single artist in the top 10 if i tried and to be honest, I'm past lugging speakers across a vomit strewn car part to the van at 2.00am!

I think the key is doing something that you like doing. It's then never a faff. The disco thing for me was a hobby that people happened to pay me for. Although I would go home with £200 or £250 in my pocket, most of the time if they asked nicely I'd probably have done it for a few pints. I can loose myself for a Saturday or Sunday doing a bit of motor sport photo-art. If people want to buy a copy of what I do - great. If not, that's fine too.



mike74

3,687 posts

148 months

Friday 7th January 2022
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Trendsetter said:
It'd only be two bets per offer - one back and one lay.
It can be a faff and each offer generally isn't worth a huge amount. Even doing the sign ups can be good for £1k though. But you do need a long term outlook and it's not for everyone
Don't you usually need to place a qualifying bet to get the offer in the first place?

So qualifying bet + lay then offer bet + lay.

costsmonkey

177 posts

172 months

Saturday 8th January 2022
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StevieBee said:
I'm 55 tomorrow
Happy birthday!

StevieBee

14,289 posts

271 months

Saturday 8th January 2022
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costsmonkey said:
StevieBee said:
I'm 55 tomorrow
Happy birthday!
Ta! smile