Recent research has found that more than 33% of people in the UK are running a side hustle in addition to having a full-time job. Most of these additional revenue streams were created during the pandemic and revolve around arts, online stores, social media content creation, and baked goods. If you own a car, you automatically become privy to a host of additional side-hustle opportunities. As exciting as this may be, it is important to put some thought into what you want to do and how to best go about doing it. Here are a few things to ponder on when starting a new side hustle.
Find the Right Hustle for You
Side hustles of a vehicular nature come in many forms. The trick is to find the one that is right for you. Your options will largely depend on how old your car is and what condition it is in, the amount of time you have at your disposal, the area you reside in, and your own personal preferences. Some options worth considering include driving for a ridesharing app such as Uber, Bolt, or Green Tomato Cars or delivering food in your area. You can either join an established service such as Uber Eats, Just Eat, or FoodHub or, if you want a side hustle that might become your full-time job in the future, start your own small-scale delivery services. Other popular options include starting an airport shuttle service, running errands for the elderly, or leasing the surfaces of your car out as signage space for local businesses.
Remember Your Insurance
If you want to start a vehicular side hustle it is very important that you are properly insured. The coverage you require may be impacted by the exact nature of your hustle. If you have been identified as a high-risk driver in the past your insurance requirements may also be different. In the UK, convicted driver insurance provides high-risk drivers with the same coverage regular insurance while also taking their previous convictions into account. Regardless of where you find yourself in the world, similar coverage will be available. In the USA, for example, SR22 Illinois insurance provides coverage to drivers who have been convicted of major traffic violations in the state. In New York, previously-convicted drivers can apply for high-risk car insurance that will provide the desired coverage albeit at a much higher premium.
Put in the Hard Work
If you want your new side hustle to be a success, you have to be willing to work hard. When you start your side hustle you will have to put in extra hours to make sure it gets off the ground. This may require you to make some sacrifices with regards to your personal and social life and may take some time to get used to. As much as you need to work hard to see your side hustle soar, you also need to avoid burnout at all costs. Although it may be difficult when working a full-time job as well, the best way to avoid burnout is to dedicate a couple of your most productive hours to your side hustle instead of working ridiculous hours.
Running a side hustle is a big step towards financial freedom. If you have your own car and some extra time on your hands you can make a decent amount of money in a variety of ways.
