Starting a Side Business

oilI was just going through some numbers in my head as I was getting my oil changed at $19.99 plus tax and they can do it 10 to 15 minutes.  It was one guy doing this work on my car, and I realized that this guy can make quite a bit just changing people’s oil if he had no overhead.  As I pulled out my phone with my nifty calculator I nerded out and crunched some numbers.  They can make with their 3 employees about $300 an hour, minus expenses such as electricity, oil, and other overhead costs, that I’m not sure of those numbers.  I thought that in a 10 hour work day, which was their hours, they would make $3,000 a day only changing oil.  I thought I could change oil, but I would probably charge $100 for an oil change because I hate doing it (That’s why I’m there).  Then it hit me that my oil change is always being put off because it is inconvenient to drive and sit at the place while they change my oil.  I work after all, during their business hours, and who wants to spend part of my much deserved Saturday getting an oil change.  I then pondered, that they have overhead in their building, electricity, and other location based bills.  They could get rid of their biggest overhead location expenses if they went mobile and changed oil while you where at work.  They could charge $100, get about 3 per hour for one guy working 10 hours a day and make $3,000 per person with more profit.  They would be doing less work and making more money.  I would probably still pay $100 for them to come to me because I hate changing my own oil, and it would be great to get it done on time. There is no service like this in my area either, so no competition!  I wouldn’t miss work or waste a Saturday and that makes it worth it in saved time for me too.  This would be a great side hustle for someone who had some extra hours in their week and lined up a few oil changes each week.  Imagine if in your free day off once a week you changed 5-7 cars oil for $500-$700 a week, or $2,000- $2,800 extra a month with mobile oil changes.  We are talking $24,000- $33,600 extra a year for you and your family to get out of debt, pay off a mortgage, put in a college fund, buy rental property, or retire early on.

A side hustle can change your life forever or turn into a full time gig for you that you can control.  You are the boss, you decide how much you work, you decide your future because you are in charge of your financial future.  All you have to do is go about your daily life and look at things that people hate to do, and find a way to make the experience better for them.  Think about all the things you use because it makes your life easier for a price.  You can probably offer a better product, for a higher price with more profit such as the example of the oil change.  This works with haircuts, cell phone repair, personal training, or any thing you hate to do in your life.

Over the years I have made some extra money on side businesses while teaching (we have a lot of time off to play), such as getting free items on craigslist and selling them back on craigslist or at garage sales, flipping campers (buy low, sell high on craigslist), personal training police officers for their fitness test (quick $3000 in 1 month), mowing lawns, washing cars, personal financial advising ($200 an hour), creating an online store, filling out surveys online, and others ideas that I tried for the experience.  The one thing I figured out is that if you can get $1000 from 3 people, or it can be $100 from 30 people, or it can be $20 from 150 people, you can pay the bills around here.  No matter which way, if you crunch the numbers, you can change your life forever with one good side business in your free time.

So, the next time you are sitting getting your oil changed, imagine you doing it for $100 or more, and if it sounds good, go out and give it try.  There is no risk because you still have your job, and this is a side hustle, that you get to learn from and experience.  It may become your new job with more freedom and more money then you ever imagined.  Built repeat customers and off you go.  Side businesses are a blessing to help free yourself from that monkey on you back.  Let me know what side businesses you have done and what worked and why.

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