Best Side Hustle Ideas for 2023 | 18 Proven Ways
If you’re wondering how to make extra money from home in 2023, you have reached the right post. For this article, we interviewed industry leaders and business owners to know which side hustle ideas are going to trend in 2023 according to them. Here are some interesting passive income ideas to know about.
1) Invest in Crowdfunding Projects on Kickstarter and Indiegogo
A promising passive income idea for 2023 is investing in crowdfunding projects. Crowdfunding platforms like Kickstarter and Indiegogo have made it possible for people to invest small amounts of money in projects they believe in. While there is always some risk involved, if you carefully choose the right projects, you could see a healthy return on your investment.
Side hustle suggested by: Jeroen van Gils, CEO of Lifi.co
2) Take Paid Surveys on SuperPay/ Amazon Mturk
One of the simplest side jobs you can perform in your leisure time and from the comfort of your home in 2023 is taking surveys. There are several research and organizations that solicit public feedback. Businesses and academic organizations frequently pay respondents for their time and feedback on survey websites. Filling out surveys that pay higher. Use platforms like Amazon Mturk and SuperPay.me.
3) Invest in REITs
Real estate is considered to be an evergreen safe investment to generate passive income. If you don’t have a budget of buying an extra property, you can take advantage of a REIT (real estate investment trust). It is just like mutual funds but on the real estate side. A REIT company operates income-producing real estate or related assets and shares the profits produced through commercial real estate with its investors. The popular REITs are Mid-America Apartment Communities, Alexandria Real Estate, Vanguard Real Estate ETF, Vornado Realty Trust, Simon Property Group Inc., etc.
4) Start Print-on-Demand Work Using Printify.com
A very attractive passive income strategy is Print-on-Demand (POD). POD allows you to sell printed items such as journals, towels, shower curtains, wall art, and clothing with designs. Since each item is printed when ordered, print-on-demand eliminates the need for inventory. Sites like Printify make it possible to start a print-on-demand business. You can sell printed-on-demand personalized t-shirts, phone covers, and more than 500 other products on Esty and Shopify.
Passive income idea suggested by: Steven Holmes, Director of Operations at icash.ca
5) Participate in Referral Programs Like Yottled
If you’re wondering how to make money from home, Yottled’s referral program is something you should be aware of. Look around and see if you know anyone who requires online appointment booking, event registration, payment integration, and scheduling facilities. FYI, anyone in the service industry needs these features. Refer Yottled to anyone any service providers like yoga instructors, salons, spas, lawyers, pet groomers, dance classes, business coaches, gyms, tattoo artists, fitness coaches, etc.
Learn what Yottled does, then convenience your referral a bit and if they find it interesting, book their demo with Yottled’s platform. Their team will do the rest of the convincing and even help in setting up the business or migration. And, you’ll get a commission ranging from $40 to $1,000 for each referral, depending upon the size of their business.
6) Shop & Deliver with Instacart/DoorDash
This is a side hustle we’ve seen grow in popularity over the past year and is going to be even more popular in 2023. With more people shopping for groceries online from the comfort of their homes than ever, working part-time with platforms like Instacart and DoorDash is the latest way to earn extra money.
Customers order groceries online, you need to accept these opportunities, shop in the store for the items that the customer ordered, and deliver to their address. You can earn $15 and $25 per hour. It offers a flexible schedule, minimal interaction, and best of all, some extra cash.
Side hustle idea suggested by: Brianna Parks, Elopement Photographer at Briannaparksphoto.com
7) Become Pet Sitter or Dog Walker on Rover
If you like dogs and have the extra space and time, apply as a pet sitter or dog walker on Rover. Part-time sitters on Rover can earn $1,000 a month and enjoy playing and destressing with their dog clients during their downtime. Dog owners now prefer home pet sitting where someone gives personalized attention to their pet, you can do pet sitting on weekends if you are home the entire weekend. You can also utilize morning time (an hour or two) for dog walking activity.
8) Become a Caregiver on Care.com
You can take care of the elderly on Care.com in your area for extra money. Accept tasks that suit your schedule and the activities that you’d like to do.
- provide companionship,
- run errands,
- prepare their meals,
- feed them,
- provide trips for appointments, etc.
9) Sell Stock Photos on Shutterstock.com/iStock/Alamy
If you enjoy photography, start making money by selling your photography on microstock websites like Shutterstock, iStock, Alamy, Pexels, and Getty Images. You can take pictures of people (with their consent), objects, or nature, using your smartphone or special camera. You can also create infographics and or enhance them by adding extra elements. Every time someone downloads your image, you’ll get a small fee for the same. Although it won’t make you rich overnight, this method can eventually produce a respectable passive income.
Side hustle idea suggested by: Min Tom, CEO, and Founder of Happy Hong Konger
10) Rent Cars on Platforms Like Turo
Renting your car on Turo or similar peer vehicle rental sites is an excellent way to earn passive income. When rental cars were in short supply, the peer rental market exploded, and people who would have never opted for anything besides a rental car from an agency tried peer rentals. Many of those individuals enjoyed a good experience and will become frequent customers.
If you have some extra money, you can even start a small business by creating a portfolio of cars and sharing it on the car rental marketplaces. According to Turo, the average annual income from car rental is approx. $10,516.
Extra income idea suggested by: Melanie Musson, a finance expert with Clearsurance.com.
11) Do Small Assignments on TaskRabbit
Work as a Tasker at TaskRabbit. Whatever skills or experience you have, there will surely be clients in TaskRabbit you can cater to. And what’s good about working as a Tasker is that you can set your own schedule and rates.
With TaskRabbit, you don’t need any specialized expertise, nor does it require you to commute long. You can offer help in your nearby areas, and do simple tasks like
- furniture assembly,
- home repairs,
- running errands
- delivering food/groceries, parcels, etc.
Passive income idea suggested by: Jean Will, Co-Founder at NiaWigs
12) Buy Aged Domains
One of the best investments and areas of side income in 2023 is going to be aged-domain website building. You can buy an old, unused website and redesign it to the point where it starts making you money. It’s like house flipping only without all the trash. The internet is a business now, and if you’re wanting to set up a side income, refurbishing an old website is a great way to do so.
Because the domain is old, it will be easier for you to increase its domain authority (DA) as the age of the domain is one of the leading SEO factors. Once its DA is improved, you can sell the domain or charge an admin fee for other writers to write on your website. Writers and outreach experts pay $50 to $250 to write on a good platform to build their portfolios and get natural backlinks.
An extra income idea is suggested by: Allison Banfield, Founder at ProudHappyMama.com
13) Refurbish Old Furniture
One new passive income idea that has become popular and is gaining popularity is reupholstering and repairing furniture. Some call it “couch flipping.” What they do is take old furniture and make them new to sell for a larger price. Many people are hitting thrift stores looking for vintage pieces that can easily be flipped for a profit. In 2023, we’ll see a huge increase in this side hustle, just as we’ve seen a huge increase in selling thrifted items online for a profit.
People make returns of 800% with some simple furniture, skills, and materials. This may become more popular next year with the low entry price and the fact that the furniture shortage has not subsided.
Extra income idea suggested by: Erik Wright, Owner of New Horizon Home Buyers
14) Work as an Airbnb Property Manager
One of the activities we are seeing on the rise is independent Airbnb property managers. These people come in, clean the home, get it ready for guests and restock supplies and collect 20% to 30% of the revenue. For a property earning $3,000 a month, that’s $600 to $900 in income for very little work and no qualification requirement. One person could easily handle 3-5 properties per month, earning a six-figure income a year with this side gig.
Side-hustle idea recommended by: Shri Ganeshram, CEO and Founder of awning.com
15) Sell Homemade Food
Homemade cuisine is the most profitable side hustle that anybody can start. People’s preference for handmade foods is constantly expanding. As individuals become more conscientious, they want fewer restaurant cuisine. They know that meals made in restaurants can never be as healthy as those made at home. You can make a good amount of extra money if you cook meals at home and sell them as “homemade cuisine. Utilize as many organic foods as possible. People are now turning to organic products. It will increase your sales and also benefit people’s health.
16) Become a Transcriptionist
If you’re wondering how to make an extra income from home, transcription work is another good option. Transcriptionists convert live or recorded audio into text. Transcribing is one low-stress side hustle that offers a stable way to make passive income. Transcribing is an easy work-from-home job that doesn’t deal with people, which can be a huge plus for some. Simply get comfy in your chair, listen to audio, and transcribe what you hear. Additionally, you typically can set your own schedule as a transcriptionist, and can flexibly adjust your home and work-life balance.
The idea for passive income from home was recommended by: Natalia Morozova, Managing Partner at Cohen, Tucker & Ades P.C
17) Sell Handmade Items
There’s a high passive income potential when you sell handmade goods. All you need is creativity and crafting skills. More and more people are inclined to support small businesses like online stores selling handmade products, especially if you have a specific niche. You can easily post the items you make on plenty of online selling sites, such as eBay, Facebook marketplace, Instagram, Amazon, and even your own online store website. This one also opens you up to thousands of customers.
Side hustle idea suggested by: Paul Sundin, CPA & Tax Strategist at Emparion
18) Offer Holiday Decoration Help
Installing holiday decorations can be a great way to make extra money in 2023. Most months involve some sort of holiday decoration–Halloween, Christmas, Fourth of July, etc. –so why not offer installation services as a side hustle? Weekend mornings could be spent putting up fake tombstones, Christmas lights, or American flags. Especially for older members of your community, installing their decorations can be a huge help.
Passive income idea suggested by: Gerald Lombardo, Co-Founder of The Word Counter