If there’s one thing we can agree on, it’s that everything is on the up. Except maybe wages. That probably explains why the number of New Yorkers taking on side hustles has increased too.
Life in the Big Apple is expensive and we all need a way to pay for essentials such as rent and groceries, before treating ourselves to a slice of sweet apple pie. According to a recent study by NY Bet, 57% of people living in NYC have a side hustle, just to be able to afford to make ends meet.
A side hustle can be the answer to many things including providing extra cash, or simply as a creative or entrepreneurial outlet. There are endless opportunities for side hustles in NYC, whether you're a student, a full-time employee, or a stay-at-home parent. Here's an idea of the type of NYC side hustles we'll cover in this article:
Types of Side Hustles in NYC
1. Gig economy jobs
It’s not always about the bigger picture. In fact, thinking small can be the best approach especially when it comes to having a successful side hustle in NYC.
Gig economy jobs, such as food delivery, errands and ridesharing can be a great way to top up your account as and when you have some spare time. These types of gigs are popular because they can easily fit around your existing schedule and offer loads of flexibility.
At the last count, New York City had 23,650 restaurants and eating establishments (2019). And a high percentage of them offer take-out and delivery options, which means there’s always a call for delivery drivers. This gig is particularly attractive in NYC due to the constant demand for transportation, especially during peak hours and events.
Sign up to a food delivery platform like DoorDash, Postmates and Grubhub and pick gigs which fit into your lifestyle. Alternatively, pick up task-based gigs and odd jobs on an app like TaskRabbit or Handy. You can set your availability and choose gigs where you get to use your existing skills. Good at cleaning or putting furniture together? Get yourself a gig.
2. Matched betting
Matched betting is a new side hustle sweeping the state. For more than a decade, matched betting has been a popular side hustle across Europe and the UK, with thousands of people earning a consistent second income every month. And now it’s here.
First off, despite the fact it has “betting” in its name, matched betting is not gambling. Instead, it’s a way to make money based on math and covering all potential outcomes of an event. Lady Luck is eliminated. Matched betting involves placing two bets on the same event which allows you to remove the risk of the bet and use the generous free bets offered by sportsbooks in order to lock in a profit.
Take advantage of promotions and bonuses offered by sportsbooks and casinos, without risking a cent of your own money. It’s a tried and tested, legal and effective way to make money online. And it could bring you side hustle success.
But don’t worry if you don’t know where to start. This is one side hustle where you don’t have to make it on your own. Online matched betting platform Profit Duel will show you how to make thousands of dollars online, at a time that suits you. And you can start earning straight away with a free trial.
3. Online businesses
The potential side hustle options here are pretty extensive. For example, you could start an online business in e-commerce, blogging, tutoring or digital marketing. Just to name a few. One of the main benefits of an online business side hustle is that it doesn’t just operate in NYC, but globally.
Whatever type of online venture you decide to undertake, you’ll need to market your side hustle effectively:
- Create a strong online presence, making sure all content is optimized for both search tools and potential readers.
- Grow and engage with your audience via social media platforms.
- Use paid and organic adverts to reach new eyes.
- Showcase your skills, services or products in their best light.
- Don't underestimate the power of word-of-mouth marketing. Encourage satisfied clients to leave reviews or ask them to refer you to their friends and colleagues.
4. Creative pursuits
NYC has a rich history of creative residents who have used their artistic vision to make extra money. You can use your creative skills or hobbies to do the same! Artistic side hustles to consider include photography, voiceover work, content creation or graphic design.
Freelancing their creative services is a popular choice for many New Yorkers:
- Photography: Weddings, fashion shows, portraits and fashion shoots, or freelancing for newspapers.
- Writing: Use your way with words to produce copy for clients’ websites, blogs, and marketing efforts.
- Content creation: With the rise of platforms like YouTube, TikTok, and Instagram, businesses are looking for new ways to create and share engaging content that resonates with their audience.
- Graphic design: If you have a good eye for design, you can create logos, website designs, marketing materials, and more for NYC businesses of all shapes and sizes.
Navigating the NYC side hustle scene
1. It's a balancing act
The whole concept of a side hustle is that it sits alongside your other commitments. It's important to ensure that your side hustle doesn't interfere with your primary source of income or negatively impact your personal life. If your schedule is too full or there are too many demands on you, you’ll freeze. Your side hustle will falter and perhaps even fail.
Time management is the key to side hustle success. Create a schedule and prioritize. Identify urgent tasks and allocate time accordingly. This will help you stay organized, meet deadlines, and avoid feeling overwhelmed.
2. Networking and building connections
It’s not known as The City That Never Sleeps for no reason. NYC is awake. And it is alive. It has a vibrant networking scene, so jump in. Make contacts and build relationships. They could open doors for you in your side hustle journey.
Take some time to research local opportunities that align with your skills and interests. By focusing on establishing a strong network within your own community, you can build up your reputation locally.
Not only can you find potential clients from networking but you can also learn from others' experiences and then apply them to your own hustle.
3. Budgeting and financial planning
Financial planning is another crucial part of building a thriving side hustle. Income can be inconsistent, especially in the early days, which can make it difficult to forecast your earnings.
Create a budget and set aside a portion of your side hustle income for savings and emergencies. This will provide you with a financial safety net and by planning ahead, you'll be better equipped to handle unexpected expenses.
How to find the right NYC side hustle for you
When it comes to finding the right side hustle in the bustling city of New York, the opportunities are pretty endless! So how do you find the right option for you?
The trick is to have a checklist of your wants, needs, existing skills and goals. Here are a few things to think about to help you get started:
1. Interests and existing skills
Take a moment to really think about your hobbies and what things you’re good at doing. What do you do in your free time? What do you excel at in your current job? Identifying your skills and interests will help you narrow down your options and find a side hustle that fits your passions.
2. Schedule and availability
As we’ve said before, a side hustle is supposed to sit alongside your main job. Therefore, you need to consider your existing schedule and potential availability. Look for side hustles that offer flexibility and can be done during your free time. This might mean searching for remote side hustles or weekend side hustles.
3. Check out the competition
Look at what’s happening in the space you’re interested in. There’s possibly a lot going on and you may encounter challenges in finding customers, especially if you're entering a saturated market. That’s why it’s important to check first. Then make sure you celebrate your unique selling points to stand out from the competition.
4. Legal and tax considerations
Different side hustles come with different legal requirements, so do your research first. It's important to understand the legal and tax obligations associated with your side hustle to avoid any legal issues or penalties. Consult with a professional if needed to ensure that you are in compliance.
If you're freelancing or running a small business, you may need to register with the appropriate authorities, obtain necessary permits and pay taxes. There are people who can help you with this so you don’t have to figure things out on your own.
5. Benefits
Unlike traditional full-time employment, side hustles often don't come with benefits such as health insurance, paid time off or retirement plans. With this in mind, it’s important to think about your needs in these areas. What actually is important to you and is there a side hustle that could provide it?
Tips for building a successful side hustle in NYC
1. Think big but start small
Don’t just jump in. Test the waters as you go. Learn from your experiences and (hopefully minimal!) mistakes. Starting small also helps you manage your time effectively and lets you see how you can grow your side hustle.
2. Organization
With a side hustle, it's crucial to stay organized and manage your time effectively. Create a schedule and stick to it, setting aside specific blocks of time for your side hustle. Use productivity tools and apps to streamline your workflow and stay on top of tasks and deadlines.
By staying organized, you can ensure that you are maximizing your time and productivity, and avoid feeling overwhelmed.
3. Streamline your process
You don’t need to reinvent the wheel with your side hustle. There are numerous online platforms and marketplaces that connect individuals with opportunities or potential clients.
Whether you are a writer, graphic designer, web developer or run an e-commerce business, websites like Upwork, Freelancer, and Shopify can allow you to offer your skills and services to clients from around the world in a streamlined, easy way.
4. Don't be afraid to take risks
Take a step out of your comfort zone. Side hustle success comes from innovation and creativity, as well as hard work and determination. Don't be afraid to try new things, trust in your abilities and have confidence in yourself.
5. Stay motivated
Building a successful side hustle takes time and effort. It can be hard to stay motivated but try to focus on the bigger picture even when dealing with the details. Celebrate your small wins and learn from your failures. Surround yourself with people who believe in your side hustle dream and can offer guidance and encouragement.
6. Avoid burnout
Side hustling can be demanding, especially if you're juggling multiple commitments. It's easy to burn out when you're constantly working and trying to meet deadlines which is why it’s so important to make sure you have enough downtime to recharge.
Take care of yourself both physically and mentally. Make sure to prioritize rest and relaxation, exercise regularly, and engage in activities that bring you joy.
Self-care is often overlooked but plays a vital role in your overall success and well-being. Looking after yourself and your health will not only benefit you personally but also boost your productivity and enable you to keep shooting for side hustle success.
Conclusion
If you're looking to start a side hustle in NYC, the opportunities are endless. Whether you choose to start an online business, freelance, matched bet or any of the other ideas in this article, the potential to make extra money is within reach.
By implementing effective time management, financial planning, legal compliance, self-care, networking, and continuous learning, you can maximize your chances of side hustle success. Remember to stay proactive, stay informed and prioritize your well-being.
Don't let the high cost of living in the city hold you back. With the right hustle and determination, you can not only cover your expenses but also thrive financially. Find your NYC side hustle today and watch your bank account grow.
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