5 Best Side Gigs To Earn $50K a Year or More
Written by
Marc Guberti
Edited by
Amen Oyiboke
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Growing your income will move you closer to your long-term financial goals and make it easier to pay off debt. While you can job hop, work overtime, or ask for a raise, it’s also possible to earn extra money with a side gig.
Some side gigs have the potential to turn into full-time careers, but you can also perform these gigs without leaving your job. Even better, some of these gigs pay pretty well. You can earn $50k a year or more with these side gigs on a 9-to-5 schedule.
Social Media Management
Many businesses use social media to interact with their customers, but most company owners don’t have enough time to regularly post. That’s why they hire people to assist with updating their social media accounts with new content.
You can get steady retainers with some social media management clients. If you earn $1,000 per month from a single client, then you only need four of them to make close to $50,000 per year.
Social media managers can schedule social media posts in advance. That way, you can focus on your job during working hours. It may be worth checking on some of your clients’ pages during your lunch hour and prospecting whenever you can.
You will have to send emails to many companies before you get enough clients to earn $50,000 per year. If you develop a daily habit of emailing potential clients for 30 minutes per day, you may find yourself in a good position by the end of the year.
Online Advertising Services
Some companies prefer to pay for online ads instead of creating new content. These ads can put them in front of the right customers, but that’s only if the online ads work. Instead of learning how online ads work, some companies turn to experts to get it done for them.
You will have to take some online ad courses on the side before you get started with this side gig. There are plenty of free courses that offer certifications, and you can also watch YouTube videos to get familiar with the different dashboards.
Once you have the knowledge, it’s the same formula as social media management. You will have to send many pitches before you get enough clients to earn $50,000 per year. It takes a good amount of work to create an ad campaign, but once you create the campaign, you just have to monitor it and make slight changes if necessary.
Online Tutoring
The earning potential varies based on what you teach. There is a strong demand for English tutors for international students, but you may make more money if you tutor in SAT-relevant skills. Parents are willing to pay more money for tutors who can help with an SAT subject since performing well on that test can open the door to college scholarships.
An online tutor posted on Reddit and said that they earn $40-$90 per hour, depending on the student and subject. The Redditor also mentioned that some tutors receive $150-$300 per hour in areas with high costs of living. You can offer your tutoring services on platforms like Preply and Varsity Tutors.
Freelance Writing
Freelance writers are in high demand due to more companies rushing to create blog posts. These blog posts can attract potential customers and generate a return on investment for businesses, but they don’t have enough time to write the content.
That’s why many businesses turn to freelance writers for assistance. The amount you can earn depends on the industry and how much content you can write each day. However, it’s doable to earn $50,000 per year in this profession while working a full-time job.
You will have to do a lot of outreach to websites and editors who are looking for writers. It’s good to write some articles for free on a site like Medium so you have writing samples. Then, any decision maker will be able to check out your past work when determining if you are a good fit.
Fitness Coaching
Many people want to get fit. Some people want to lose weight, while others want to become better at their preferred sport. If you have a passion for fitness, you can coach people in person or online.
In-person coaching sessions often take place on weekends, so you can pursue this side gig while working full-time. If you work with clients remotely, you may end up working with clients in different time zones. This can be advantageous since you can work outside your 9-to-5 hours.
You will have to build a personal brand to attract fitness coaching clients. Posting on platforms like Instagram and Facebook multiple times per week can establish your expertise in fitness. It’s also good to set up a basic website that lets people schedule appointments. You can use free trials or discounts to get new customers through the door. Once someone pays you, it becomes much easier for them to pay you again.
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