3 Side Hustles That You Can Start with Under $5,000

Are you tired of living paycheck to paycheck? Want to earn some extra cash on the side? Look no further! Here are 3 side hustles that you can start with under $5,000. Let's dive in!

1. Flipping Bikes

Do you live in a big cities with loads of bikes? Then this one is for you!
You don't need to be a professional cyclist to start flipping bikes. All you need is a good eye and some basic knowledge of bicycles. Start by scouring Craigslist, Facebook Marketplace, and garage sales for affordable bikes that are in good condition. Buy them for a low price and spruce them up by cleaning and repairing any damages. Once you've made the necessary repairs, list them for a higher price than what you paid for them. Voila! You just made a profit.

5 Steps to Flipping Bikes:

1. Research the bike market to learn about popular brands and models

2. Scour Craigslist, Facebook Marketplace, and garage sales for affordable bikes

3. Clean and repair any damages to increase the bike's value

4. List the bike for a higher price than what you paid for it

5. Rinse and repeat!
   

2. Social Media Management

If you're a social media enthusiast, why not turn that hobby into a profitable side hustle? Many businesses struggle to keep up with their social media presence, which is where you come in. Offer your services as a social media manager and help businesses increase their online presence by creating engaging content and growing their following.

5 Steps to Becoming a Social Media Manager:

1. Build a strong social media presence for yourself

2. Learn about different social media platforms and their algorithms

3. Offer your services to local businesses or online through social media

4. Create a social media strategy for your clients and execute it

5. Analyze the results and adjust your strategy accordingly

3. Service Accommodation

If you're looking to start a side hustle that doesn't require owning property, service accommodation for other people's properties could be the perfect fit. By listing properties on platforms like Airbnb, you can help property owners earn extra income by renting out their space to travelers. As a service accommodation provider, your role would be to manage the property on behalf of the owner, ensuring it's clean and ready for guests, handling check-ins and check-outs, and providing any necessary support throughout the guest's stay.

5 Steps to Starting a Service Accommodation Side Hustle:

1. Research the service accommodation market to learn about popular platforms and industry standards

2. Build relationships with property owners in your local area

3. Create a pricing strategy that's competitive but still profitable

4. Create a process for managing the property, including cleaning, maintenance, and guest communication

5. Monitor guest reviews and adjust your services accordingly to ensure a positive guest experience and maximize profitability for the property owner.