How many of you own side businesses that make more than $500/mo? I have done a LOT of side projects that had many active users. I am starting to think I need to monetize my project (hence I said Side Business) in order to stay passionate about maintaining it and serving the users, on top of my full-time job. Please share stories.
I’m a house inspector as a side gig. About $300/hr
I own a consulting company. I get a bunch of freelance gigs and farm them back out to other engineers and take a toughly 25% cut for the privilege. Brings in 5-10k / Mo when a project is on.
How often do you have projects, and how did you get started?
I did a couple freelance projects and then started getting a bunch of other work referred my way, all unsolicited. It was more work than I could accomplish alone, so I hired a friend, then hired some more. Now I don’t write any code at all for these projects. I usually have 1 or 2 running at a time. Again, all unsolicited.
You could always drive for Uber
I have a side project selling custom kids products. I use a company that fabricates and ships each item as they are all made to order. Brings in an additional $2000 per month profit with $5500 per month sales.
how do you handle taxes? did you setup LLC?
Yes to the LLC. I take a good amount of write offs through the business and don’t pay myself a salary. Also my kids and husband are share holders so can pay each dividends of the company after taxes.
AirBnB and a consulting business
Landlord. Rent out my starter condo.
Do you make a profit or at least breakeven ? Care to share any numbers ?
Finally making a small profit considering I still have a mortgage and HOA fees. I clear a grand a month in profit. I could have more but I prefer to offer less than market value to cut down on turnover. This is more of a long term play. I intend to keep it in the family so that my children will have an additional source of income after I die.
I invest my former down payment in ETFs and make an average -2% per quarter. No regrets.
-2%? Please explain
Anyone know how to get into the marijuana biz?
Be a grower and not a shower, but with plants.
Right?!
I own a vintage toy, video game, and comic shop. I manage a car audio shop during the day and it finances the toy store, which finances my auto insurance startup while I'm bootstrapping. It's tough, but it pays the bills, allows me to build something that hopefully will be worth more in the future so I can work less and enjoy life more
Good luck man. Keep it up!
Thanks. "I've gone this far, why stop now?" - Forrest Gump
I run a fetish porn site. Most of it is automated and I make about $5000 a month
What are the costs to run it?
You produce or aggregate content?