Let’s go on to learn more about the factors to take into account and what you can do to start earning extra money in Canada.
What to Take into Account Before Beginning a Side Hustle?
Your preferences are where a side business, job, or gig begins. Therefore, once you start to think about that, you need to question yourself:
- Are there any skills I want to learn?
- What can I already do?
- Do I have time for a side hustle?
What Steps Can You Take to Start Hustling?
Here’s how to choose your side business after conducting thorough research and careful consideration:
- Knowing your strengths and passions will help you hustle successfully and earn money with ease.
- Investigate the sectors that interest you since market expertise can protect you from unanticipated pitfalls.
- Set up a schedule. Realistically, see if you have enough time to handle one more thing during the day. Does it conflict with your employment at the moment? Does it give you enough time for yourself and other responsibilities?
Making a strategy will make it simpler for you to uncover your passion and turn it into a source of income. Let’s look at the top 15 side jobs that pay the most that you may start today.
Top 15 Side Hustles in Canada 2023
The following 15 sources of income have been shown to be secure and very lucrative in Canada:
- Graphic Designer
The demand for graphic designers is rising, especially in light of rising social network usage and the struggle to stay current online. Top Canadian companies pay highly for graphic designers and offer a wide range of additional bonuses and awards. You can take a variety of online courses to learn graphic design if that’s something you’re interested in. A graphic designer’s typical monthly pay is $4,000 per month. The finest tool a graphic designer has while looking for work is an appealing portfolio, so you should start creating one.
- Web Designer
In Canada, there is a great need for web designers and developers, who can make up to $9000 per month. A web designer can make $60,000 annually on average. A company today should have a website, and as a web designer, you can create websites with a variety of goals in mind. Start by uploading samples of your prior work to Fiverr or Upwork.
Web design and development are your best bet if you’re trying to expand your knowledge. If you are already an authority in the industry, you can work as a consultant for corporations or a teacher for individuals who wish to learn, nevertheless.
- Short-Term Rentals [Airbnb]
Most people start out with short-term rentals as a side business. The monthly revenue potential for an Airbnb is roughly $1000. Airbnb offers a variety of hosting alternatives, including renting out a spare room in your house, a whole home, or local activities.
Because it enables you to monetize an existing asset or purchase a house, renting out on Airbnb is a great option. If you do it well, you can make money with little to no work on your part. A $1000 income is not a constant sum because it might increase based on your location, assets, or amenities. You should expect your side hustle to succeed in the long run considering that Canadian Airbnb hosts make over $7.1 billion annually.
You can work as an offline or online coach, depending on your qualifications. People seek out coaches for a variety of reasons, including relationship and family coaching, business and financial advice, fitness advice, spiritual advice, and legal advice. You can make between $2000 and $3000 a month using your coaching abilities.
A great way to boost your income or make it your full-time profession is to use your experience to get freelance job. Freelancers work on their own projects, collaborate with companies, or take on temporary contract work using their specialized professional skills. You have more control over the kind and volume of work you complete as a freelancer. Your profits will increase in proportion to the amount of work you do, but the typical freelancer may expect to make $1800 each month.
- Affiliate Marketing
Affiliate marketing is a technique used by marketers to promote the products and services of other companies on their websites or social media accounts. Businesses pay commissions to affiliates when the products are sold. A monthly salary range of $1500 to $3500 is possible. When done correctly, affiliate marketing may be one of the most lucrative home-based businesses in Canada. It also entails little risk or investment. In the world of content creators today, affiliate marketing is a form of digital marketing. It makes it possible for content creators to make money by promoting products or services via an affiliate network.
If you enjoy organization, bookkeeping is something you may take up as a hobby and turn into a successful side business. In case you didn’t know, bookkeeping is the process of regularly compiling methodical reports of a company’s financial activities. Every firm will eventually need a bookkeeper’s services. no matter how huge, how small, or how in between. That suggests that there is always a need for bookkeeping services. A bookkeeper’s average monthly salary in Canada is $3,451.
There aren’t any major admission barriers if you already have experience. All you need, besides technical skills, is a laptop, internet access, and a workspace.
Consider working from home as a transcriptionist if you’re a fast typist looking for a side gig. This position pays between $2000 and $3000 a month. Writing down what you hear on audio or video recordings is the process of transcription. Calls, business meetings, court appearances, and notes from movies, movies, or school assignments can all be recorded. Payment is typically made per word or audio minute.
- Social Media Manager
Social media management is a flexible profession. Your management abilities are necessary for any company with an internet presence. A wide range of businesses, professions, and industries employ social media managers. Once you have a basic understanding of how to function as a social media manager, you can start growing your career, which will be advantageous to you in the long run. Your monthly salary as a social media manager should be $3,700.
- Tour Guide
Being a local tour guide is a fantastic way to turn your enthusiasm in the place into money if you are familiar with it inside and out and enjoy engaging with new people. In Canada, a tour guide makes $2,000 on average each month. Native tour guides show tourists about and encourage them to experience the area’s landmarks, points of interest, shops, restaurants, and other activities in the same way that a local would.
Do you have a good eye for typos in text? Is your command of the English language particularly strong? If so, you would be the ideal candidate for proofreading. You can work a full-time job in addition to a flexible, low-stress side job like proofreading. Proofreading and editing are the most popular side jobs in Canada, where you may earn an average of $4,000 per month.
- Rent a Car
More than 1.2 million Canadians have signed up with Turo to rent more than 55,000 automobiles through its app and website. Customers can borrow a high-end car for a particular occasion or rent a car from a private owner, typically at a lesser price than through a standard rental agency.
The Turo platform enables car owners who want to become hosts to rent out their automobiles in order to generate income from a vehicle that would otherwise be sitting idle in their garage. You don’t need to be concerned if you don’t own a car because this platform connects those who require a car with those who already have one but don’t usually utilize it. It is an excellent and hassle-free approach to gain money. You should anticipate earning $1,000 each month from this site.
- Ride Sharing
Ride-sharing is the practice of arranging a passenger’s travel in a private car, typically for a fee, through the use of a website or mobile application. An illustration of this is Uber. Ride-sharing is one of the most significant elements of Canada’s growing collaborative consumption. For someone with a car and a love of driving, starting a ride-sharing service seems like the perfect side venture. In general, you could budget $1500 to $2000 every month.
- House Cleaning
In homes, hotels, motels, and establishments like hospitals and universities, executive housekeepers are in charge of the laundry and housekeeping departments. There is always a need for labor, especially in private residences, thus there is a constant requirement for housekeeping services. Typically, a housekeeper makes $3,514 a month.
Flipping is the process of purchasing an asset and reselling it after only a short time. You can start by purchasing furniture, refurbish it in your style, and then resell it for a profit. If you have a passion for interior design and decorating, this is the best way for you to make money from it. An average flipper can earn $9000 a month.
Even though flipping furniture is a beginner’s scale, once you get the hang of it, you can start flipping bigger assets like properties and renting them out as well!