5 Side Businesses to Start in 2023

These days, we’re deep in the “gig” economy, meaning practically everyone has a side hustle in addition to their “day job.” While there are many reasons for individuals to start multiple revenue streams, it’s never been easier to establish and run a business, regardless of what your schedule looks like right now.

If you’re motivated to make extra money but don’t know how here are our top seven side businesses to start in 2023. Ideally, you can find one that fits your passion and turn it into a reliable income.

Food Cart/Truck

Some side businesses don’t require a lot of investment or equipment, while others, like starting a food cart, do. However, you don’t have to start with a fully-loaded 35-foot-long food truck. Instead, you can invest in some catering equipment, upgrade to a cart, and then a food truck once your side business takes off.

Here are the steps required to make a food cart business work:

  • Pick a Niche – Don’t overextend yourself by offering too many dishes. Focus on a single menu item like fries, donuts, hot dogs, or something similar.
  • Practice Your Skills – Chances are you have friends or family who wouldn’t mind having free food. Host a party and practice your recipes to ensure they’re fast and easy to follow. Now’s the time to make any adjustments as necessary.
  • Start With Events – Instead of trying to find daily customers, set up a food booth at a local event. Event-based catering allows you to gather feedback and work through any logistical problems without a massive upfront investment.
  • Don’t Forget About Permits – Selling food means you need a business license, a seller’s license, and a food seller’s permit. You’ll also have to work with the local health department.

Event Coordinator

Who doesn’t love a good party? Event coordinators are essential to any gathering that requires catering, entertainment, and a venue. However, you can also do house parties and other events too, mainly to get experience and testimonials.

One of the best things about being an event coordinator is that you don’t need much upfront capital or equipment to start. Since you’ll be working with your client’s budget, you don’t need to have money for venues or entertainment options.

In this case, it’s best to build a network of vendors and suppliers first, then start contacting clients. This way, when you book your first gig, you know who to call for various requests (i.e., bounce house rentals, DJs, etc.). You can also choose the types of clients you want to work with. For example, will you specialize in corporate parties, house parties, community events, athletic events, weddings, etc.? Once you decide, you can market your skills to potential clients in these categories.

Pet-Sitting and Grooming

If you have a passion for animals and love the idea of working with dogs and cats all day, then pet-sitting and/or grooming is an excellent side business. You can also bill yourself as a dog walker and house sitter to provide the whole package.

For this side business, it may be best to sign up to work for a pet-sitting company or freelance through an app. This way, you can get a taste of the business without putting up any investment capital. Also, you have to consider the pros and cons of watching, walking, or grooming other animals. For example, what happens if a dog bites and/or scratches you? What if they bite an employee?

One benefit of this side business is that you don’t need a storefront. Mobile pet sitting and grooming are more common these days and could be even better for your clients. So, you just have to bring the supplies, and you can build a business from scratch in no time.

Vending Machine

A primary reason to start and build a side business is to have a passive revenue stream. As the saying goes, you should aim to “make money while you’re sleeping.” Once you achieve that, you’re on your way to financial independence.

Naturally, we at Vend-Co know a thing or two about this option. So, a vending machine business makes a ton of sense because people use your machines when you’re not present. Then, you just stop by to restock and count the number of dollar bills (or credit card transactions). Here are some tips to make your vending business work:

  • Start With Locations – Typically, the best way to find a location is to do some research online on high-traffic areas (i.e., schools, outdoor malls, etc.) and then visit them to see their current options. Then, you can find out who’s in charge of the site and contact them directly.
  • Find Your Hook – Don’t worry if a site already has vending machines – the owner may be willing to upgrade to a better service. What can you offer that’s unique? Hard-to-find snacks and drinks? A more attentive restocking schedule? A better contract with the site owner?
  • Start Small – Once you have a site in mind, you can buy a vending machine to suit your needs. You don’t want to buy a machine first because it will limit your options. For example, what if a site owner wants beverages, but you only have a snack machine? Start with one location and then build from there. It will take time to get into the groove, and don’t assume you’ll get rich immediately. Even high-traffic machines average $500 to $700 per month. But, since it’s a passive income and you don’t have much overhead, most of that money goes into your pocket.

Online Reseller

If you’re looking to start a side business without any inventory, infrastructure, or investment capital, consider opening a digital storefront. Dropshipping is a viable option to avoid maintaining inventory, and then you can move into a different set of products later on.

For this business, you just need to build a website and develop a marketing strategy. Fortunately, sites like Shopify can help you create a storefront immediately and connect you with suppliers and drop shippers.

With this option, you must have patience since it will take time to build an audience. But, since you don’t have to pay rent or utilities for a physical space, it’s okay if you only make a few hundred a month to start.

Contact Us to Take Charge of Your Earning Potential!

Vending machines are the ultimate source of passive income and are super easy to install and maintain. Plus, once you start one, adding more to your inventory is much easier. Browse our selection at Vend-Co today, or contact us if you have any questions!

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