Casual Side Businesses for the Busy Entrepreneur
As a hardworking entrepreneur, you know the value of diversifying your income streams and are always looking for more ways to earn money. With that in mind, let’s explore some casual side businesses for the busy entrepreneur that, with minimal time investment, can pump up your profits.
Buy Ice and Water Vending Machines
Ice and water vending machines can be an excellent low-maintenance side business opportunity. There are plenty of reasons to start a water and ice vending machine business, two of which are remote management and high profit margins. Once you’ve found a strategic location for your vending machines, the business practically runs itself.
Initial investments for ice and water vending machines typically range from $25,000 to $150,000, depending on the capacity and features of the machine. Despite the steep upfront cost, the payoff can be substantial. A well-placed vending machine in an area with high foot traffic can generate significant passive income with minimal effort.
Own a Car Wash
Owning a car wash is another solid option for entrepreneurs looking to diversify their income. A self-service or automated car wash can offer a low-maintenance passive income source, as there’s no need for daily staffing or hands-on management.
The initial investment for a self-service car wash usually ranges from $100,000 to $200,000, while an automated one can cost between $400,000 and $900,000. Although the start-up costs are considerable, the ongoing expenses are relatively low. With a strategic location and proper marketing, a car wash can provide a stable income stream for entrepreneurs.
Rent Advertising Space
If you own or have access to a commercial space, you can make use of it by renting out advertising space to businesses. For instance, you can rent out billboard spaces, empty walls, or even fleet vehicles for advertising purposes. This option allows you to capitalize on an existing resource and turn it into a source of additional income.
The initial investment for renting advertising space typically involves the costs of preparing the space (painting, creating the ad space, etc.) and possibly any permitting fees. From there, most of the income generated comes with fairly low maintenance costs. This side business offers a convenient way to expand your income without requiring excessive management hours.
By exploring these casual side businesses for the busy entrepreneur, you can diversify your income streams and tap into new opportunities. Ice and water vending machines, car washes, and renting advertising spaces are a few examples of low-maintenance income sources that can yield lucrative returns. Take the leap today and see how these side businesses can help you achieve your financial goals!