6 secondary concerts with additional costs to consider before starting
About 45% of Americans, or about 70 million people, report having a side job, according to data from a Side Hustle Nation survey. And with inflation costs weighing heavily on Americans’ finances, it’s no surprise that starting a side gig is on many people’s minds.
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You’ve probably heard the saying, “It takes money to make money.” These words are often true when trying to get a side scramble off the ground. The good news is that some cost a lot less than others to launch, which is useful for knowing if funds are already tight.
If you’re looking to breathe life into your bank account by throwing a side gig, here are some costs to consider when planning ahead.
- $350 to $500 for a used laptop
- $50 to $100 for Internet per month, depending on speed and provider
“If you are good at Instagram, graphic design, writing, accounting, transcription, you can find clients through LinkedIn, Facebook groups and contact potential clients directly,” said Chhavi Agarwal, a labor expert. at home on Ms. Daaku Studio. “Depending on the skills, you can easily earn up to $1,000-$5,000 more.”
What about start-up costs? Almost zero. If you have a computer or laptop with an internet connection, you’re good to go. As you grow, you can choose to invest in courses, coaching and tools, but your expenses are relative to what you earn and it will always be up to you how much you want to spend on development. .
“On the other hand, if you don’t have a laptop or a Wi-Fi connection, it’s something you’ll have to buy. You can buy a decent used laptop if budget is an issue.
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- $4.63 per gallon of gasoline (as of July 15)
- 9.55 cents per mile for maintenance, repair and tires
“From time to time I will need to earn extra income from side gigs, especially in today’s economy,” said Tina Tolbert, travel agent and owner of Hey Mickey Travel. “The two I tend to turn to most often are grocery delivery via Spark (Walmart) or Shipt. While this gig tends to pay well, there are also more costs associated with it. gasoline and car maintenance being the two main ones.
teach english online
- $350 to $500 for a good used laptop
- $50 to $100 for Internet, depending on speed and provider
“The other gig I tend to use is teaching ESL online through a company called Cambly,” Tolbert said. “Cambly has both an adult division and a children’s division. With adults, you simply get paid for every minute you spend chatting with other adults around the world who are trying to improve their English. For Cambly Kids, students are enrolled in a course and you teach the slides that automatically appear on screen. This gig tends not to pay as well, but the upside is that the only real cost is internet access and a computer that most people already have.
Voice over work
- $400 to $600 [based on expert source below]
“To break into voiceover, you need to make an upfront investment in equipment,” said Vickie Pierre, insurance writer at QuoteInspector. “Expect to spend at least $500 on quality accessories. Naturally, that starts with a good mic — especially a cardioid condenser microphone — and something to connect your mic to your computer. This connection is usually a USB cable, but some microphones require an interface that provides phantom power. You’ll also need a mic stand, a pop filter to help reduce noise, and a good pair of headphones, the kind that cover your ears.
Pierre added, “Buying a podcasting kit these days will get you most of the aforementioned supplies. Although you can find some for around $100-$200, it’s best to invest closer to $400-$600 to ensure quality. That being said, the better quality microphones won’t always make it into these kits. I bought all of my items a la carte and spent around $500, including $100 for the microphone alone.
Food photographer for bloggers
Demand is high for people who offer their skills as food photographers to bloggers. And if you already have photography skills and have the right equipment, it won’t cost you as much to get started.
Jenna Tranter, food photographer and owner of A Cure for Monday, shared the following breakdown of costs associated with this side gig. Note that some of these costs are initial costs that do not reoccur and others are permanent.
- Camera and equipment: $1,000 to $3,000
- Photo editing software: $9.99/month
- Plates, bowls, cutlery, etc. : $150
- Accessories and decor: $100
- Background : $150
- Ingredients: $10-$20 per recipe
Sell on Etsy or Shopify
- Varies by sales platform and other options
Haley Hamilton Berger, founder of Haley Hamilton Art, LLC, has been running her hand embroidery business online since 2017. She started on Etsy then moved to Shopify.
It’s difficult to estimate the costs associated with selling goods on Etsy or Shopify because everyone’s experience will be different. To give you an idea, however, here is a breakdown of the costs provided by Hamilton Berger for this side gig.
- Transaction fees: Etsy is very high at 0.20 per listing and then 6.5% of each transaction.
- Shipping fees: These are getting more and more expensive. Also, budget for lost/stolen/damaged packages – it’s rare but will happen.
- Graphic design services: Canva is a popular platform for small businesses, but its Pro version costs around $13/month.
- SEO tools: I use Keysearch for SEO optimization – again $13/month.
- Website fees: Although it has lower transaction fees than Etsy, Shopify starts at ~$30/month.
- Domain name: You must purchase your own domain and renew it annually.
- Company registration: If you choose to legally register your business, there are initial and annual fees, depending on your state.
- Packing supplies: In addition to shipping costs, packaging supplies and branded materials can add up, especially if you sell fragile products.
- Digital advertising: Social networks, Etsy, Google, etc.
Hopefully this gives you a general idea of the various expenses associated with some of the more common types of side gigs. Good luck there!
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