Starting a side hustle has become a popular way to supplement income, explore passions, and achieve financial goals. In 2024, the opportunities for successful side hustles in Canada are more diverse and accessible than ever. This guide provides a comprehensive list of the top 20 profitable side hustles, complete with tips on how to get started and maximize your earnings. With the support of Ontario Business Central and our trusted partners, you can turn your side hustle dreams into reality.
Freelance Writing
Freelance writing involves creating articles, blog posts, and copy for businesses and publications. Writers can earn between $20 to $100 per hour. To succeed, it’s crucial to build a portfolio, join freelance platforms like Upwork, and network with potential clients. The global freelance writing market is growing due to the rise in digital marketing. According to IBISWorld, the market size of the global online content writing services industry is expected to grow by 3.8% in 2024.
Graphic Design
Graphic designers create logos, branding materials, and marketing collateral. Earnings can range from $25 to $150 per hour. Utilizing design tools like Adobe Creative Cloud, building a strong portfolio, and marketing services on social media are essential steps. The demand for graphic designers is increasing as businesses seek professional design services to stand out. The U.S. Bureau of Labor Statistics projects a 3% growth in graphic designer employment from 2020 to 2030. Learn more about how to start your own graphic design business.
E-commerce Store
Running an e-commerce store involves selling products online through platforms like Shopify. Earnings vary based on the product and market. Success requires choosing a niche, sourcing quality products, and optimizing the store for SEO. The e-commerce industry is booming, with global e-commerce sales expected to reach $5.4 trillion by 2022. In Canada, e-commerce sales are projected to grow by 7.7% in 2024.
Tutoring
Tutors offer educational services in subjects they excel in, earning between $20 to $80 per hour to teach English. Effective advertising, offering both in-person and virtual sessions, and specializing in high-demand subjects are key strategies. The online tutoring market is experiencing significant growth, driven by increased demand for remote learning solutions. Global Market Insights projects an 8.2% CAGR for the online tutoring market from 2021 to 2027.
Digital Marketing Services
Digital marketers provide SEO, social media management, and PPC advertising services, with potential earnings of $30 to $150 per hour. Staying updated on marketing trends, using tools like Google Analytics, and offering packages for small businesses are crucial. The digital marketing industry is thriving, with digital advertising spending in Canada projected to reach $12.92 billion by 2024.
Virtual Assistant
Virtual assistants help businesses with administrative tasks remotely, earning $15 to $50 per hour. Offering services like email management and scheduling, joining virtual assistant networks, and using job boards are effective strategies. The virtual assistant market is growing as businesses recognize the benefits of outsourcing administrative tasks. Grand View Research expects a 28.5% CAGR for the virtual assistant market from 2021 to 2028.
Blogging
Bloggers create and monetize content on topics they are passionate about. Earnings vary based on traffic and monetization methods. Focusing on SEO, building an email list, and using affiliate marketing and sponsored posts are key tactics. Blogging remains a popular income source, with successful bloggers earning significant revenue. Blogging.org reports that 63% of bloggers make money from their blogs.
Online Courses
Creating and selling online courses on platforms like Udemy or Teachable can be lucrative, with earnings varying based on course popularity. Choosing knowledgeable topics, creating engaging content, and promoting courses through social media are essential. The e-learning market is booming, with Global Market Insights projecting a 21% CAGR for the market from 2021 to 2027.
Pet Sitting/Dog Walking
Pet sitting and dog walking services offer potential earnings of $15 to $40 per hour. Advertising in the community, getting certified in pet care, and joining pet sitting platforms are effective strategies.
Handmade Crafts
Creating and selling handmade crafts can be a fulfilling and profitable side hustle. Platforms like Etsy make it easy to reach a wide audience. Earnings can vary widely based on the product and market, with many crafters making anywhere from a few hundred to several thousand dollars a month. Success in this field requires focusing on unique, high-quality products, optimizing your listings for search, and actively promoting your store on social media. The global handicrafts market is expected to grow significantly, driven by increasing consumer interest in handmade and unique items.
Fitness Trainer
Offering personal training services or group fitness classes is a great way to turn a passion for fitness into a profitable business. Personal trainers can earn between $30 to $100 per hour, depending on their experience and location. Getting certified, building a client base through referrals and social media, and offering both in-person and online training sessions can help you succeed. The fitness industry continues to grow, with a particular increase in demand for personalized and virtual training services.
Photography
Providing photography services for events, portraits, or stock photography can be a lucrative side hustle. Photographers can earn $25 to $250 per hour. To succeed, create a strong portfolio, market your services online, and join photography networks. The demand for professional photography remains high, particularly in areas like weddings, corporate events, and social media content creation. According to the Bureau of Labor Statistics, employment of photographers is projected to grow by 17% from 2020 to 2030.
Translation Services
Translating documents, websites, or content for businesses and individuals can be a rewarding side hustle. Translators typically earn $20 to $60 per hour. Getting certified in your language pairs, joining translation platforms, and marketing your services to businesses and individuals are key strategies. The translation industry is expanding due to globalization and the increasing need for multilingual content. The global language services market is expected to grow, driven by the demand for translation in business, legal, and medical fields.
Real Estate Investing
Investing in rental properties or real estate projects can provide significant returns. Earnings vary based on the market and investment strategy. Success requires thorough research of the real estate market, securing financing, and working with a real estate agent. Managing properties effectively and keeping up with market trends are crucial. Real estate remains a robust investment, with rental properties providing steady income and potential appreciation in value.
Event Planning
Planning and coordinating events such as weddings, parties, and corporate functions can be both exciting and profitable. Event planners typically earn $30 to $150 per hour. Building a network of vendors, creating a portfolio of past events, and marketing your services online and offline are essential steps. The event planning industry is rebounding as in-person events return. According to the Bureau of Labor Statistics, employment of meeting, convention, and event planners is projected to grow 18% from 2020 to 2030.
Home Cleaning Services
Providing cleaning services for homes and offices can be a steady source of income. Cleaners can earn $20 to $50 per hour. Advertising locally, offering competitive pricing, and providing excellent service are crucial to building a client base. The cleaning industry remains strong, driven by busy households and businesses seeking professional cleaning services. The global cleaning services market is projected to grow, with increased demand for residential and commercial cleaning.
Food Delivery Services
Delivering food for restaurants or through platforms like Uber Eats can be a flexible and profitable side hustle. Drivers can earn $15 to $30 per hour. Groceries delivery, and odd jobs related to the delivering of groceries can be even more lucrative if you build relationships within your community to do the running around and odd jobs for your neighbourhood. Choosing high-demand areas, working during peak hours, and providing excellent customer service can help maximize earnings. The food delivery industry has seen rapid growth, especially during the pandemic, and continues to be a convenient option for consumers.
Consulting
Offering expertise and advice in your field of knowledge can be a high-earning side hustle. Consultants typically earn $50 to $300 per hour. Building a strong online presence, creating a professional website, and networking with potential clients are key strategies. The consulting industry is diverse, covering areas such as business, marketing, IT, and HR. According to Statista, the global management consulting market is expected to grow, driven by the need for expert advice in a competitive business environment.
Social Media Influencing
Building a following on social media and monetizing through sponsored posts and collaborations can be highly profitable in any social media platform. Earnings vary based on following and engagement, with top influencers making significant income. Creating high-quality content, engaging with your audience, and collaborating with brands are essential for success. The influencer marketing industry continues to grow, with businesses investing heavily in social media influencers to reach their target audiences. According to Business Insider, the influencer marketing industry is set to grow to approximately $15 billion by 2022.
Renting Out Property
Renting out your home rooms or properties on platforms like Airbnb can generate substantial income. Earnings vary based on location and property. Optimizing your listings, providing excellent customer service, and maintaining your property well are crucial to attracting guests and securing bookings. The short-term rental market has seen significant growth, driven by travelers seeking unique and affordable accommodations. According to Statista, the vacation rental market is expected to continue growing, with increasing demand for short-term rentals.
Boost Your Income
There are so many side hustles, the list is endless and the startup costs are minimal. Other simple ideas to make extra money include self publishing ebooks on something that you are passionate about and have knowledge about, starting a youtube channel, selling digital products, washing and detailing cars, child care, delivery driver for anything, and last but never the least is odd jobs like mowing the lawn, raking a backyard, weeding, house or pet sitting and the list is never ending.
What to Think About When Doing a Side Hustle
Whenever you take something new in your life such as a side hustle, it’s important that you consider the implications of doing something like this. It may mean that you will need additional insurance whether your vehicle, your home, or business insurance. When successful, your personal finance will be affected and therefore your taxable income from the extra income from your side hustle. It is important that you consider that when you have a fulltime job and work at nights or weekends to increase your earned income, there will be tax implications to the side hustle.
As you earn money, I recommend you keep at least 30% of the additional revenue earned from your side hustle in a bank account until you complete one tax season. It would be the worst thing to have worked extra above your regular day job only to find out that you owe taxes on money that you have already spent. Be very careful at this is a very common issue for people who start a side hustle. A suggestion is to open a savings account and keep the potential tax money out of your regular bank account for your spending and life responsibilities.
With a side hustle, when the extra money earned is taxable, the good news is you also have the opportunity to include tax deductions from your extra income such as space needed in your home for you to work, vehicle and any expenses associated, tools, inventory, digital products such as cell phone, laptop or desktop necessary for you to do your hustle opportunity.
If you are operating a business under your own personal name, there is no requirement to register a business but when you are selling using a descriptive wording such as pet sitting, or a business name that is not associated with your sole personal name, you are required to register your business. As a new side hustle, you will most likely want to register a Sole Proprietorship to have your business be legally recognized.
Side Hustle Marketplace
There are so many places for you to reach out to potential customers and to do it with minimal upfront costs. If you are looking at doing odd jobs around your neighbourhood, put a list of items on a colourful piece of paper along with your contact information and put it in every mailbox you can find, send a blast out on Facebook to let people know what services you are offering. If you are selling products, Facebook marketplace costs nothing. You can advertise on Facebook, Google, Bing but at a fairly high cost and this more focused to the side hustles that are verging on a new entrepreneurial pathway.
Last Words on Doing a Side Hustle
I would like to say that I have a huge amount of respect for you who look at stepping up in a time where financial pressure could be at your heels. Starting anything related to business is a big deal and it takes spirit. I have owned my business to assist others with their businesses for over 30 years and I’ve spoken to new entrepreneurs my entire career and if you are nervous, you are not alone. It’s a normal emotion, it doesn’t mean that it has to win over you and your reason for looking at doing a side hustle. Expect that you are going to have pitfalls and failures in doing this just like you have in everyday life, but it will get better, and you will get better and stronger with every moment. I wish you the very best in this adventure and our team is always here to assist you in any aspect of starting a business.
Why Choose Ontario Business Central?
Ontario Business Central has been assisting entrepreneurs and business owners with registration and incorporation services since 1992. With over three decades of experience, we have built a reputation for providing fast, accurate, and reliable service.
Comprehensive Support For Your Business
At Ontario Business Central, we offer a range of services to help you succeed:
- Business Registration and Incorporation: We handle the legal steps to register your business name, incorporate your company, and ensure compliance with federal and provincial regulations.
- Name Searches and Domain Registration: Secure your business name and online presence with our name search and domain registration services.
- Tax Account Setups: We assist with setting up HST, payroll, and other tax accounts to ensure you meet your tax obligations.
- Ongoing Compliance and Support: Our team provides ongoing support to help you maintain compliance and manage any changes to your business structure.
Personalized Service
Our dedication to customer satisfaction and our commitment to providing exceptional resources make us the preferred choice for thousands of businesses across Ontario. Let us assist you in navigating the complexities of business registration and incorporation, so you can focus on growing your side hustle into a thriving enterprise.
Reach out to Ontario Business Central today and experience the difference that expertise and personalized service can make. We are here to help you every step of the way, from business registration to ongoing support and growth.
If you would like further information, please feel free toreach out to any of our staffwho are always here to assist in searches.
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Ontario Business Central Inc. is not a law firm and cannot provide a legal opinion or advice. This information is to assist you in understanding the requirements of registration within the chosen jurisdiction. It is always recommended, when you have legal or accounting questions that you speak to a qualified professional.
