New Research Reveals the Most Profitable Side Hustle — and You Could Make an Extra $15,000 a Year From Home If you're ready to start a side hustle, it pays to consider which one will give you the greatest return.
By Amanda Breen Edited by Jessica Thomas
Key Takeaways
- Nearly half of U.S. millennials and Gen Zers have a side hustle.
- But the earning potential depends on the gig, and the average side hustler sees less than $1,000 a month.
Seven in 10 young people say that working for someone else "is their worst nightmare" and plan to start their own business within the next three years, according to research commissioned by Adobe, which surveyed 2,000 UK-based adults, per Talker Research.
Side hustles can be a lucrative bridge from part- to full-time income, so it's perhaps not surprising that they're on the rise: 36% of U.S. adults have one, including nearly half of millennials and Gen Zers, Bankrate reported.
Of course, not every side hustle has the same earning potential as the next. The majority of side hustlers bring in less than $1,000 a month with their extra gigs. So, which ones are actually worth the time and effort?
Web3 platform Freename analyzed salary data from job-search site Indeed to determine which side hustles could be the most profitable for people who aspire to start their own businesses.
It turns out that copywriting may be the most lucrative side hustle, with an average hourly wage of $29.18 — totaling $15,173 yearly earnings based on 10 hours of work per week, according to the data.
Read on for the full list of Freename's top 12 side hustles with the highest average earnings:
Rank | Side hustle | Lowest earnings | Average earnings | Highest earnings | Yearly earnings working 10 hours per week (based on average hourly wage) |
1 | Copywriting | $19.22 | $29.18 | $44.31 | $15,173 |
2 | Personal trainer | $15.75 | $28.99 | $53.33 | $15,074 |
3 | Virtual assistant | $16.26 | $26.15 | $42.05 | $13,598 |
4 | Handyman | $13.57 | $24.11 | $42.84 | $12,537 |
5 | Online tutor | $13.67 | $23.85 | $41.60 | $12,402 |
6 | Lyft driver | $7.25 | $22.76 | $47.40 | $11,835 |
7 | UberEATS | $7.60 | $22.51 | $45.15 | $11,705 |
8 | Babysitter | $14.01 | $21.64 | $33.43 | $11,252 |
9 | Uber driver | $7.25 | $20.37 | $40.45 | $10,592 |
10 | Blogging | $7.33 | $19.45 | $51.58 | $10,114 |
11 | Dog walking | $12.57 | $18.77 | $28.04 | $9,760 |
12 | Door dash driver | $12.00 | $16.28 | $32.65 | $8,465 |
