Posted on: December 28, 2022 | Land Owners
Whether you work full-time, you’re between jobs, or you’ve retired, you may be wondering about how to increase your cash flow. Starting a side business can help you do it. In this blog post, we’ll take a look at side businesses you can start quickly, that won’t take up too much of your time or energy.
11 Side Businesses To Increase Your Cash Flow
1. Start an Ice Vending Business
The need for ice and water doesn’t go away or fluctuate based on economic activity. That’s why ice and water vending sales have remained steady or increased during recessions. With the right location, an ice vending business can be a significant source of extra cash flow.
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Learn more about starting an ice vending business
2. Lease to a Business Owner
If you have a great location for an ice vending business, but you’re not ready to invest in a vending machine, consider renting your land. This is a great side business to increase your cash flow that doesn’t require a lot of time or energy.
3. Leverage a Hobby
The ideal side business doesn’t detract from your full-time work or regular activities. This might mean leveraging your hobbies and increasing your cash flow with the work you enjoy doing anyway. For some people, this can add extra incentive to put aside more time on the work you enjoy anyway. Consider how you might sell your photos, paintings, knitted crafts, sculpture, computer programs, or another hobby you enjoy.
4. Leverage Your Skills
Just like you can turn your hobbies into a side business, you can also leverage your skills. Maybe these are skills that you use throughout your regular work day, or maybe they’re skills you’ve set aside for a while. Your side business might include computer or electronics repair, making music, cake decorating, or many other skills.
5. Online Resale
Online resale can be a fun side business to increase your cash flow. If you have a sharp eye for antiques or collectibles, or you have a collection that you’re no longer interested in, consider selling these items online.
6. Rent Out a Room
Platforms like AirBnB and Vrbo have made it easy to rent out a room or a vacation home. With a few simple updates to make the space private, clean, and up-to-code, you can add rental income to your extra cash flow.
7. Rent Out Assets
There are other marketplaces that you can use to rent out other assets. You might rent out your bike, scooter, camping gear, lawn mower, car, and more. Though there is some risk involved in renting out these assets, it can also be a lucrative side business.
8. Use Your Land
If you have a parcel of land that you can’t or haven’t yet built on, you may still be able to generate extra cash flow from your land. Depending on the placement, you might be able to place solar panels, billboards, parking lots, cell towers, and more on your land. Or, you might rent your land to campers or farmers.
Use your land to increase your cash flow
Learn more about an ice and water vending lease agreement >
9. Pet Sitting
If you’re home for a large part of the day and you like dogs and cats, pet sitting may be a great side business for you. Pet sitting might be as simple as walking and feeding a dog or cat. Other pets might need more care, like medications, brushing, or extra attention.
10. Write a Book
Those that enjoy writing might find a source of extra cash flow from writing a book. This might include a non-fiction book using your expertise or unique experiences. Or, you might put your imagination to work and write a fantastic fiction novel. This can be a competitive market, but it can pay off if you find the right niche.
11. Teach a Class
There are many ways to share your skills. If you have experience and expertise to share, you can turn this into extra cash flow. You might create a course and sell it online, write an instructional book, or tutor students online. From salesmanship to yoga, computer engineering to lawn mower repair, language skills to baking and more, there are probably thousands of students ready to learn from you.
The right side business won’t take up too much of your time or energy, but it’ll still give you extra cash flow. Consider these options, and which potential side businesses might work for you. If you’re interested in ice and water vending, contact us. We can help you set up your business and get started fast.
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