Since 2020, the ‘side hustle’ market has exploded.

And for all kinds of reasons…

Lockdown and the rise in work-from-home and remote-work opportunities.

The explosion of user-friendly tech tools (and AI) for eCommerce, communication and team collaboration.

And a desire for more flexible lifestyles.

This has only been accelerated by the cost of living crisis.

More and more people are struggling to pay for rising energy bills, high rents and expensive weekly food shopping.

So they’re seeking new income streams.

And here’s some data that shocked me:

Now almost 40% of British adults run a side hustle – that’s around 20 million people!

Not only that but 47% say they intend to start a side gig or home business in the near future.

That’s a massive increase from 35% last year.

Side hustles now contribute around £70 BILLION a year to the economy, with over a third of new businesses now starting as side gigs.

And this is only going to grow…

Experts predict that by the late 2020s, the economic value of side hustles could reach £80 billion per year.

Meanwhile, self-employment, micro-businesses, and home businesses make up roughly 74% of all UK businesses.

That’s around 4.1 million businesses which are predominantly home-based or self-employed ventures.

So this is a massive, booming marketplace.

Of course, you know a lot about this particular market.

Because as What Really Makes Money reader, you’re one of the motivated many who are interested in starting your own side income or home business.

Which gives you an OPPORTUNITY.

Because yes, you could remain within this mass movement of side hustle seekers.

Or alternatively…

You could profit from this market by serving it.

A Different Way to Think About Side Hustles

Ask yourself this…

What is it that these millions of side hustlers, gig-seekers and business owners want?

What is it that they really need?

Here are some ideas..

• Encouragement and inspiration.
• Training in missing skills.
• Courses, coaching and guidance
• Recommendations for tools and platforms.
• Access to communities and groups of like-minded people
• Business plans and blueprints.
• Step by step strategies.
• Techniques for focus, motivation and goal-setting.
• Tech advice.
• Design templates.
• Product reviews.
• Quick start guides to essential tasks and processes
• AI prompts
• Marketing formulas, ad scripts and branding templates
• Advice on setting up a home office including equipment and furniture.
• Financial, tax and bookkeeping advice
• Recommendations for suppliers and wholesalers
• Persuasion techniques and copywriting advice
• Shortcuts, hacks and time-saving tricks
• Advice on outsourcing, recruiting and hiring freelancers

This help can come in many different levels… targeted at different niche audiences … who have different goals and intentions… in different side hustle niches.

For example…

You’ve got stay-at-home parents… people with busy day jobs… professionals… career-switchers… unemployed people… gig workers… hybrid workers… retirees…

Each of these target audiences has their own set of priorities and goals.

Not only that, but they want help which is tailored to their specific level of skill, experience and free time.

Some are completely unskilled, with no computer experience, and know nothing about business.

Some have been trained in various skills during their careers.

Some are trying side hustles already – with little success.

Some are running side incomes but want to make more money.

Then you’ve got the huge array of side hustle types that they might be interested in (or involved in already).

• Offline jobs like gardening, cleaning, DIY, removals…
• Home-based food and drink businesses
• Gig economy roles like food delivery, courier driving, ride-hailing, pet-sitting, and dog walking.
• Tutoring and teaching businesses (online and offline)
• Events and entertainment services
• Wellness and personal services (personal training, yoga, massage, beauty therapy, holistic health).
• Property businesses like Airbnb hosting or renting spare storage
• Reselling and flipping (charity shop finds, retail arbitrage, upcycling).
• Survey, comping and micro-task platforms (eg. paid surveys, user testing, cashback apps, competitions).
• Podcasting and video channel hosting
• Online freelance gigs like writing, design, proofreading, data entry and virtual assisting…(including platforms like Fiverr and Upwork)
• Ecommerce (think Amazon, eBay, Etsy, Shopify and Vinted selling…)
• Publishing ventures like eBooks, courses, newsletters, and public domain books
• Digital product creation including printables, planners and templates..
• Creative businesses like crafting, upcycling and AI art…
• Affiliate selling through blogs, email newsletters and social media

Within each of these categories there are many specific strategies, tools and support services that someone might need.

That’s why this market is so much bigger than most people realise.

It could include anything from a struggling day job worker who wants to sell on Amazon in the evening… to single mum who wants to earn an extra £200 a month reselling clothes on Vinted… to a retiree who wants to monetise his career skills through an online course.

People like these are looking for knowledge, support, tools and encouragement.

And because there are millions of them – at all stages, with all levels of experience, in every imaginable niche – the opportunities to serve this market are practically endless.

Which is where you come in…

Because you are part of this audience yourself, you understand their hopes and doubts better than any polished ‘guru’.

This makes you uniquely positioned to be authentic and trustworthy as someone who supplies advice, support or training.

So how do you get started?

The key is to start with yourself and work outwards.

• How would you describe your own situation right now– and the experiences that have led you here?
• What kind of ups and downs have you had?
• What are your goals, dreams and desires?
• What skills do you have, and what do you lack?
• What social demographic do you understand best?

When you establish this, you can consider focussing on a specific niche group with a particular set of needs.

Pick that group whose struggles and goals you can most relate to – and who will most relate to you.

The next step is to work out what that audience might need the most right now?

Are they confused about where to begin, stuck on tech, short on time, or desperate for motivation?

The more specific the problem you identify, the better you can target a solution.

Again, it’s worth considering your own struggles, so that you can capitalise on your insights.

Finally, think about the format in which you can supply your help.

It could be as simple as a PDF micro-manual, free report or digital printable, solving a single, small problem.

Or it could involve an ongoing service like an email newsletter, coaching service or membership site.

Perhaps it could be a product you source from a wholesaler or create yourself using AI tools or Print-On Demand.