Economic unpredictability frequently necessitates new ways of thinking, particularly about how we earn money. If you’re considering your alternatives, we’ve compiled a list of side hustle ideas ranging from the low capital intensive to becoming a professional. Rachel Smith, the author of Underspent and Ready for Redundancy, got her first experience of side hustling during the 2008 Global Financial Crisis when the firm for which she worked in the United Kingdom laid off several of her colleagues.
“I recall that Monday well,” Rachel told reported. “I observed individuals packing their belongings into cardboard boxes. Several folks sat and wept. These redundancies widened my eyes and altered the course of my life. I discovered that I needed to alter my approach.” Rachel’s experience acted as a wake-up call. To strengthen her financial resilience, she opted to diversify her earnings by taking on other occupations and initiatives, which she has increased through the years.
“In addition to my full-time career as an engineer, I began working part-time as a scuba diving teacher. I worked shifts as a chef on a dive boat and worked weekends as a silver service server, she explained. Scuba diving lessons was one of author Rachel Smith’s early side hustles. Supplied.
“I also let out my extra room, and the rent from lodgers covered more than half of my mortgage. I even earned an additional $30 a week by preparing lunch for a coworker who couldn’t be bothered to prepare his own.”
Along with providing economic stability, Rachel explained that her side hustles enabled her to pay off her mortgage in seven years, rather than 25. They also inspired her profession as an author and speaker, which has resulted in increased income. So, let us get to talk about the 20 ideas on highest paying side hustles in Australia that you can venture into right now.
20 Highest Paying Side Hustles In Australia You Can Start Now
So to the major content of 20 highest paying side hustles in Australia that you can start now. Since Rachel’s initial ventures into this sector, the number of people starting side hustles has increased. Gumtree, Airtasker, and Fiverr now enable users to submit tasks under a bewildering assortment of categories, implying that there is an almost infinite number of ways to earn some extra cash on the side. We have has compiled a list of some of the more common possibilities, as well as ones that you may not have considered.
- Pet sitter or dog walker
- Rent a car or a parking place
- ‘Flipper’ on a professional level
- Rent your closet
- Collection and charging of scooters
- Independent writer
- Farmer in the city
- Succulent cultivator
- Picker of fruits
- Market research conducted for a fee
- Language instructor
- Extravagance in television or film
- Observant shopper
- Distributor of flyers
- Decorative arts and crafts
Let’s begin with some of the most well-known ones…
- Pet caretaker or dog walker
Our first choice on the top 20 highest paying side hustles in Australia is the pet caretaker or walker. Platforms such as Pawshake and Mad Paws enable individuals to promote their services to dog owners who want someone to care for their dog while they are away or who require assistance maintaining their dog’s exercise regimen. Around $16-30 appears to be the prevailing amount for a single walk (minus any platform fees), but you may be able to make it into a regular revenue stream by charging a weekly rate for many walks or adding pet sitting to your service offerings.
With individuals spending more time at home than normal, there may be fewer people seeking for house sitters at the present. That is not to imply that there aren’t still folks who require assistance with watering their plants and feeding their pets while they are abroad. Among the main websites where homesitters may create profiles are TrustedHousesitters and Aussie House Sitters.
- Rental of a vehicle or a parking place
With many individuals working from home and maybe traveling less as a consequence, you may have an unused car, van, or other vehicle parked outside. If so, you may be able to sometimes rent it out to those who require a set of wheels on a temporary basis. It’s becoming a popular trend, with data from peer-to-peer vehicle sharing startup Car Next Door indicating a 245 percent increase in the number of cars listed on the platform in Sydney over the six months from April to October 2020. If you do decide to share your vehicle, keep in mind the potential influence on your auto insurance coverage. DriveMyCar is another of Australia’s more popular automobile rental services.
- Expert ‘flipper’
If you have the required skills and time, you may be able to earn some additional money by restoring or refurbishing old or unwanted objects — either ones you already own or those you can get for free or at a cheap cost – and then reselling them at a profit. Popular goods to ‘flip’ include furniture and other home items, automobiles, and even real estate.
- Consider renting your clothing.
Do you have any clothing in your closet that you might lend to someone for a special occasion? You may be able to advertise some of your clothes on wardrobe lending sites such as Designerex and the Volte, particularly if they are more costly designer pieces. It is a good idea to take several photographs of your things before to renting them out, in case they are damaged upon return. Designerex states that it provides consumers with a rental estimate, but the final price is entirely up to you.
- Collection and charging of scooters
Electric scooters are becoming an increasingly popular means of travel in cities worldwide. That’s all well and good, but how, you may ask, do I convert this into a side hustle? To that end, some firms pay individuals to collect scooters that have been dropped off, charge them, and then return them to be used again. However, because it is believed to be a competitive industry, it may not be perfect for people seeking a steady income.
- Independent writer
If you have a gift for words, you may be able to earn money as a freelance writer for websites, blogs, or other media. What you may make from this varies considerably, with some authors charging per word and others charging each piece. If you possess specialized knowledge or expertise in a certain field, you may be able to charge a premium for your services. Fiverr, Jora, and even LinkedIn may be beneficial for locating writing employment.
- City farmer
Do you have the room and a set of green thumbs for a vegetable garden? To be sure, you may be able to transform your fresh food into an additional source of revenue. This might be accomplished by simply selling fruit and vegetables, or even eggs, to friends, coworkers, and neighbors. If you produce food in significant amounts, you may also want to consider setting up a stand at local farmers’ markets.
- Succulent cultivator
You could even be able to earn some extra money by cultivating and selling the ‘now’ succulent kind of plants. These plants are often tiny, requiring little space, and are easily reproduced (split to generate new plants), which helps keep expenses down.
- fruit gatherer
Due to a lack of backpackers visiting Australia, one of the primary sources of fruit pickers for country farms has dwindled. As a result, the Australian Government is urging young Australians to “give fruit picking a go,” with ideas for a JobSeeker supplement for those who take up this type of labor. Bear in mind that fruit picking may be physically demanding, and the sector has faced criticism in the past for its treatment of workers.
You may be able to make money by live streaming or posting videos on platforms such as YouTube and its rivals. According to Influencer Marketing Hub, topics like as funny animals, gaming, how-to tips, and product review videos may be worthwhile to focus on. The majority of revenue generated by streaming comes from subscription fees, advertising revenue from platforms, contributions from fans, and goods sales relating to your program.
One of the outcomes of the coronavirus epidemic has been an increase in hygiene awareness among many individuals and companies. For those of us seeking additional income, this may create a chance to provide cleaning services on the side. Numerous companies require cleaning services outside of normal business hours, so you may be able to fit it in with your regular employment.
- Market research that is compensated
Certain businesses seeking a competitive edge pay people to test and offer feedback on their products or a new idea they are considering launching. This is often conducted by market research organizations, therefore it may be worthwhile to study firms that conduct this type of work to see if there are any paid possibilities available. Realtime Research, Respondent, Focus Individuals, and the Purple Corporation are all examples of organizations that pay people to participate in market research.
- Language instructor
If you speak a highly sought-after language, you may be able to teach it to others and earn some additional money in the process. This might be through a formal language school, for which you may require a teaching certificate, or more casually for students who just wish to improve by practice with a proficient speaker.
- Supplementary material for television or film
“Don’t I recognize you from somewhere?” people may inquire, but if you’re comfortable with that, you may explore working as a film or television extra. While the arts sector in Australia is facing challenges, many states, notably New South Wales, Queensland, and Western Australia, are planning to establish or expand film and television production facilities. With Thor actor Chris Hemsworth advocating for local filmmaking and Nicole Kidman bringing filming to Australia for the $100 million Nine Perfect Strangers, this may be a good moment to consider earning money if a director calls “Action!” near you.
Still on the list of highest paying side hustles in Australia that you can venture into. If your talents lay behind the lens, selling photographs may enable you to earn some additional cash. Contributors to stock photo sites such as Foap and Twenty20 get compensated for their images, which are then sold to brands and enterprises. Depending on the site, photographers may be paid a one-time fee or a commission on each sale. Alternatively, you may be able to directly sell prints to consumers online.
- Supervising shopper
A mystery shopper is compensated to visit businesses and appear as a client in order to evaluate and rate the service provided. There are several secret shopper providers in Australia, and the pay rate is likely to vary depending on the company for whom you work. Retail Mystery Shopping Australia, for example, states that it charges a set cost for each assignment that varies according on the client and assignment needs. Additionally, you may be asked to make a purchase that may be refunded. According to another source, The Secret Shopper, secret shopper characteristics include “a high level of reading and an exceptional recall.”
- Distributor of flyers
If you don’t mind standing for extended amounts of time or doing a lot of walking, you may earn some money giving out flyers or dropping them through letter boxes. According to marketing firm IVE, distributor compensation is “results-based” and area-specific, dependent on the products to be delivered, the amount necessary, and other local considerations such as topography and housing density.
Selling your ideas might be a way for the crafty among us to earn some additional money. Local markets and online marketplaces such as Etsy are frequently used to sell items such as jewelry, homewares, and even apparel.
- A hairdresser
If you have long hair and are considering a shorter style, you may be able to utilize some of your excess hair. Wig and hair extension manufacturers occasionally compensate individuals for their genuine hair that has been cut. This occasionally includes standards such as hair having a specified length and free of artificial coloring.
It is critical to keep in mind that these are not suggestions. If you’re considering taking up casual employment to supplement your income, you should conduct your own research on the jobs and platforms indicated below to determine their suitability for you. Additionally, it is critical to consider the dangers and financial repercussions.
What Does a Side Hustle Entail?
A side hustle may be any job that you perform in addition to your main work. The goal is to earn more cash, ideally by doing something you enjoy.
Side hustles, or side occupations, can also be used to test a concept and see whether it generates enough revenue to sustain a long-term career. It might also be a side project that you’d like to pursue for the sake of exploration.
A side business might also focus around your possessions, rather than (or in addition to) your abilities.
“I ensured that the things I held generated a profit for me,” Rachel explained. “I hired out scuba diving equipment, camping gear, and even my automobile. Numerous individuals rent out their automobile parking spot. Every $50 helps.”
How Much Money Can a Side Business Earn You?
How much you may earn truly relies on the side hustle or side hustles you pick, the demand for what you offer, and the amount of time you can spend to your side employment. When determining how much you may earn, it’s a good idea to include in potential taxes and expenditures such as platform fees, supplies, travel expenses, and insurance.
According to Airtasker, individuals may earn up to $5,000 per month using the site, with the most popular activities include furniture assembly ($118 per task on average), pick-up and delivery ($80 per task on average), and gardening/lawn mowing ($145 per task on average). It’s worth noting that these per-task statistics are before the platform’s cut, which can range between 10% and 20%.
However, earnings from side hustles might vary dramatically. According to research conducted in Australia on Digital Platform Work, some occupations pay less than the national minimum wage.
The survey discovered that people performing secretarial and data entry work ($0.01-$9.99 and $10.00-$14.99 per hour), as well as writing and translation work ($0.01-$9.99 per hour), were the most likely to earn the least on digital platforms. Transportation and food delivery employees were overrepresented in the hourly wage ranges of $15-$19.99 and $20-$29.99. Professional service providers (such as accounting, consulting, project management, and legal services) reported higher hourly wages (above $50). According to the survey, the average hourly wage was $32.16, on average.
How Can I Make My Side Business a Success?
They say that a goal without a strategy is just a desire. However, how can you develop a strategy to ensure the success of your side hustle? We advises several critical actions to take in getting Financial Autonomy.
Conduct research and select a side hustle that fits your talents and weaknesses, as well as the possibilities and risks that might add to or detract from your success.
Create a business strategy that outlines your path to success, taking into account factors such as:
- The issue that your business will address and who it will benefit
- How you intend to market your product or service
- The expenses associated with providing your product or service
What does success mean to you?
Consider marketing – for instance, how will you convey to buyers why your work is superior than that of your competitors?
Organize the details, such as obtaining an Australian Business Number and a business name. Consider how you will be compensated as well. Will you require the assistance of a merchant services provider? Begin your side hustle, analyze it, learn from it, and adjust as necessary.
What Dangers Should I Be Aware Of When Operating A Side Hustle?
While earning additional money is enticing, casual labor via digital platforms is not regulated in the same way that other types of employment are. As a consequence, workers “carry the risk,” according to Dr. Penny Williams of QUT Business School, one of the report’s authors.
According to her comments on the QUT ExecInsights podcast, these employees “do not receive superannuation, do not receive sick leave, and do not have the same entitlement to a safe work environment as an employee.”
Additionally, Dr. Williams stated that the additional income and flexibility that lure individuals into this line of employment may not always materialize. According to her study, many people quit digital platforms because they “couldn’t acquire the hours they want or were investing too much time and effort for a little return.”
Along with these variables, there are also other financial and personal considerations to make if you want to pursue a side hustle. These may include the following:
According to the Australian Tax Office, any income earned above the minimal level is taxable (ATO). Bear in mind that your total yearly income for tax purposes will include profits from your side hustle in addition to earnings from other paid work.
If you register your side hustle as a business and it fits the ATO’s standards, you must register to pay GST on your sales.
It may be prudent to seek the assistance of a certified tax expert to ensure that you are aware of the amount of tax you must pay and any deductions you may be eligible to claim.
There are numerous types of insurance that you may choose to explore in order to protect yourself financially from specific dangers associated with your side hustle employment. These may include automobile insurance, general liability insurance, and income protection insurance. It may be worthwhile to investigate what insurance is available, if any, through the platforms you use for your side business.
Because the job you perform as part of your side hustle is likely to be categorized as self-employment,’ whatever platforms you use to perform that activity will typically not contribute to your super. Rather than that, you can consider making voluntary contributions to your current superannuation account using the money you’ve earned. According to Moneysmart, depending on your circumstances, making voluntary payments to your super may help you lower the amount of tax you pay.
We do hope that you must have got an insight into what you are searching for on ideas of highest paying side hustles in Australia that you can start and detailed information to equip you when starting.