11 Low Cost Side Hustles To Consider In 2023
Want to start earning extra cash on the side but don’t have a big budget? The good news is you can launch profitable side hustles without a ton of upfront costs. What are some of the best low cost side hustles?
The best low cost side hustles include renting out unused space, selling handmade goods online, becoming a virtual assistant, driving for rideshares, and reselling items from garage sales or thrift shops. These require little startup funds but can generate decent extra income.
The purpose of this guide is to give you a comprehensive overview of these side hustles. You will get some useful advice on how to generate revenue from your current resources and competencies. Continue reading to learn beginner-friendly hustles to start growing your income.
11 Ideal Low Cost Side Hustles
Here are 11 ideal low cost side hustles you can launch for cheap and low cost ways to make money:
1. Rent Out Your Extra Space
Have a spare room, garage, or storage space that isn’t being used? It can be effortless to make hundreds or even thousands of dollars each month by renting it out on websites like Airbnb, Vrbo, or Spacer.
To get started, just create a listing with photos, availability, and nightly/weekly rates. Make sure to factor in any cleaning, utilities, or maintenance costs, but overall this is a low cost side hustle to start since you already have the space.
2. Sell Handmade Crafts Online
If you have a passion for pottery, jewelry making, woodworking, or other crafts, you can sell your handmade items online through sites like Etsy, ArtFire, and HandmadeAmazon.
The startup costs are minimal – just the cost of materials for making your items. Then, it’s just a small listing fee and commission on items sold through these sites.
With some great photography and SEO to get your listings found, this can become a great way to turn your hobby into a lucrative side gig.
3. Become a Virtual Assistant
Virtual assistants provide administrative, social media, customer service, and other support to businesses remotely. After creating a website to showcase your services, you can find clients on sites like Upwork or reach out to businesses directly.
It requires just a computer and internet connection, along with skills like scheduling, data entry, email management, and more.
4. Sell Your Photos Online
Selling your photographs on stock image markets like Shutterstock, iStock, and Adobe Stock is a viable source of income if you have a passion for photography.
However, there are also more niche photo marketplaces that support particular photographic styles. On the website FeetFinder, for instance, you can offer pictures of feet to those who have foot fetishes.
You can also sell the pictures taken with your smartphone on other websites like Foap and EyeEm. Select a platform that fits your preferred style of photography, then start converting your images into passive income.
5. Launch a Dropshipping Business
You can sell things online via dropshipping without keeping any inventory. When a sale is made, you forward the order details to your supplier, and they ship it directly to the customer. This is possible thanks to sites like Shopify that make setting up a dropshipping store easy.
After finding a profitable niche and researching reliable suppliers, you can launch an online store quickly with very little upfront investment required.
6. Rent Your Car Out
Apps like Turo and HyreCar allow you to rent your car out to others when you aren’t using it. You set your own availability, pricing, and loan terms. After listing your car, you’ll earn money each time someone rents it.
As long as you have a clean driving record and meet eligibility requirements, this is a very simple side business to start. You already have the car, just leverage it to earn extra cash when possible.
7. Design & Sell Printables
For the creatively inclined, designing printables like planners, coloring pages, party invitations, menus, etc., to sell can make for a great side hustle. You can sell your printable designs through marketplaces like Etsy or your own website.
Each design is a one time effort but can be sold repeatedly as passive income. After building up your shop with numerous options, this can grow into a lucrative business over time.
8. Freelance Writing
If writing is your strength, there is a high demand for writers to create blog posts, articles, scripts, social media posts, and all types of content for businesses. The startup cost is nonexistent – all you need is a laptop and expertise.
Finding freelance writing gigs can be done through job boards like Flexjobs or ProBlogger or by pitching to companies directly. This is an extremely scalable side hustle that can be done anywhere with an internet connection.
9. Rent Out Your Car Parking Space
If you live in a popular metro area, renting out a parking space on your property is an effortless way to earn extra money each month. Sites like JustPark, ParkLet, and SpotHero connect locals looking for parking with people who have it available.
After listing your space with availability, you’ll earn a set monthly rent from anyone who books it long-term or a daily/hourly rate for short-term parking.
10. Resell Thrift Store Finds
Selling used items from thrift stores on websites like eBay, Poshmark, Mercari, or Craigslist can become a profitable side business. It takes some research to know which brands and items sell well.
But after finding undervalued items at thrift stores or garage sales, you can list them for resale online. Startup costs are minimal, just the price of the inventory. This is a fun treasure hunt type hustle for the bargain lover.
11. Rent Out Your Yard for Events
If you have a large, well-decorated yard, consider renting it out as an event venue. Sites like Greencastle connect people looking for event and party spaces with homeowners open to renting theirs out.
As long as you live in a suitable area, this is a great way to easily earn money from your outdoor space. Promote yours as perfect for birthday parties, weddings, corporate events, and more.
Can You Start A Side Hustle With No Money?
Yes, there are plenty of side hustles that require little to no startup funding, like freelancing your skills online, walking dogs, doing surveys, or flipping items from around your home. With hustle and resourcefulness, you can get started earning with just the cost of a laptop and Wi-Fi in some cases.
How Much Should I Charge For My Side Hustle?
Consider your time and costs, then compare rates charged by competitors for similar services. Aim for an hourly rate that’s profitable after accounting for taxes, tools, materials, etc. Start on the low end as you build experience and credibility. Once established, increase rates over time.
How Do I Find Time For A Side Hustle?
It takes dedication, but try waking up early, using lunch breaks, or staying up late to work on your hustle. Batch tasks when possible for efficiency. Outsource tasks like social media, web design, and accounting when able. Set a regular schedule and stick to it, enlisting family support if needed.