There is no shortage of new opportunities to create money online, from selling your sneakers to renting out your backyard.
From renting out rooms on Airbnb to snagging odd jobs on TaskRabbit, it’s not difficult to find opportunities to produce a little extra cash online. The gig economy has turned into a part of our work culture, while e-commerce marketplaces have created a worldwide playing field for ordinary people seeking to sell services and products.
Against that backdrop, there are various time-tested opportunities out there to create some money privately, from selling your photos online to taking paid surveys. Yet as sure as sunlight rises each day, the internet continues to make a variety of new methods to make some money.
Let’s check out some of these emerging opportunities, whether it’s a completely new way to create a little more income or a fresh method of an existing method. A few of these are easy, but others devote some time, creativity and even a little bit of overhead. And, as always, do your own homework to be sure these options are right for you personally.
Selling sneakers online is now big business, and not simply for Nike and Adidias. Platforms like StockX, GOAT, Stadium Goods, Flight Club and Bump are fueling a boom in the shoe resale market. Sneakerheads are flocking to these platforms to flip rare kicks, that they usually snap up directly from big brands before marking up the purchase price online.
A big player here’s StockX. Befitting its name, its website looks similar to a trading platform than an online shoe store. For instance, if you select a set of Yeezys, you will discover how its sale price has fluctuated over recent months, a "ticker” and a gauge for price volatility. Buyers place bids and sellers place asks, and a transaction happens automatically when both sides align. StockX collects a 3 percent payment processing fee on all sales, and also a 9.5 percent fee for all shoe sales (the website also sells other collectible items, like handbags and watches).
Not convinced? A couple of Nike Dunks that once retailed for $200 sold on StockX for $13,500 in July 2019, according to The Wall Street Journal .
The takeaway: The secondary market for collectible shoes is having an instant. It requires some overhead and legwork, but if you’re game, you can still make money on the fly.
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Personal data is popular, and even though it’s controversial, you can capitalize on that if you’re unconcerned about privacy.
Search no further than Facebook, which now offers payment in trade for permission to track your phone usage. In 2019, the social media company launched Study from Facebook, market research app which collects user data about phone activity in substitution for a monthly payout. The business says it won’t utilize the data to focus on advertisements or even to sell to third parties; it simply aims to understand about the habits of smartphone users. You need to register and receive an invite from Facebook to participate, with the app only obtainable in the U.S. and India for all those ages 18 and older. Facebook doesn’t disclose just how much it pays participants, however the company says everyone who takes part is compensated.
Selling personal data online isn’t entirely new. The business Datacoup ‘s been around since 2012 and will be offering to greatly help people sell their data anonymously. Then there are options like Panel App, which doles out rewards to users who take location-based surveys. Overall, this trend should continue steadily to provide regular opportunities for folks hoping to create money. Just to illustrate, on Prime Day in 2019 Amazon offered U.S. customers a $10 credit if indeed they allow e-commerce giant track web sites they visited.
The takeaway: If you’re not mounted on your privacy, opportunities to market your individual data shouldn’t be difficult to find.
Folks have over online to drive out their closets, but Gen Z is currently getting back in on the action. Search no further than Depop. It’s a shopping app similar to platforms like Poshmark and ThredUP, but it’s become particularly popular among younger audiences.
Often referred to as a variety of eBay and Instagram, Depop can be an international marketplace for fashionable secondhand items, from vintage Prada to newly trendy Old Navy sweatshirts from the first 2000s. Sellers have profile pages where they post pictures, descriptions and hashtags, while buyers can follow a common sellers and scroll through their posts in a feed. Like other online marketplaces, there are potentially some overhead charges for sellers and Depop requires a 10 percent cut of every sale.
The platform was originally launched in Milan in 2011, however in recent years it is continuing to grow to command a cult following, with 15 million users in 147 countries all over the world. Among active users, 90 percent are beneath the age of 26, while around one-third of most 16-to-24-year-olds in the U.K. are registered on Depop, according to 1 of the company’s investors.
The craze is apparently taking hold in THE UNITED STATES aswell. Depop says the amount of items sold in the U.S. doubled this past year, and nowadays there are 5 million users stateside. It’s also attracted a wave of glowing coverage from publications like The Atlantic , THE BRAND NEW York Times and The Cut .
The takeaway: Depop is definately not alone in the web thrifting space, however the platform has tapped right into a market of teenage tastemakers, creating a captivating new way to get and sell online.
Folks are accustomed to investing on Ebay, Craigslist or Etsy, but social media platforms are actually encroaching on the market.
Take Facebook, for instance. The social media company announced in 2019 that it’s adding new shopping features across its category of apps. Which includes new shipping and payment options for Marketplace, Facebook’s sprawling e-commerce platform where one can swap from furniture to cars. The move allows Marketplace users to ship items any place in the continental U.S. and purchase their purchases directly through Facebook (something it previously didn’t facilitate). This employs Facebook began letting users hire contractors, cleaners, plumbers and other home services through Marketplace starting in 2018.
And in addition, Instagram can be beefing up its e-commerce features. Influencers, creators and internet sites is now able to tag products directly in posts, rendering it easier for his or her followers to buy from their website. Facebook can be adding home based business tools to its messaging platform WhatsApp, that will allow visitors to view something catalog directly within the app when communicating with a business.
The takeaway: In its drive to facilitate our every online action, Facebook is rendering it easier to trade a diverse selection of services and products.
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A typical person probably can’t afford to get an antique Ferrari, but how about investing $50 in one share of a classic car? There’s an app for that, called Rally Rd.
Rally Rd. operates a platform where members trade equity shares in classic cars for as little as $50 through some SEC-registered initial public offerings. The company reported in 2018 that it had 50,000 members who’ve combined to get millions, with the average age of 26 among its user base. It has expanded to offer other collectibles, from an initial edition copy of Harry Potter and the Philosopher’s Stone to a Honus Wagner baseball card.
The target is to eventually sell these things to private collectors at a profit. Of course, this kind of alternative investment includes risks, and there’s no guarantee the worthiness of the assets will appreciate. Still, investors with the proper appetite should find a lot of opportunities to enter upon this trend.
Another player here’s Masterworks, an online platform centered on fine art. Founded in 2017, it extends shares in works from Picasso, Monet and Warhol. Then there’s Otis, an app that sells shares in contemporary art, sneakers and collectibles for less than $25. Otis recently offered up its first piece for investment, a painting by Kehinde Wiley (who painted President Barack Obama’s presidential portrait). The business reported that a lot more than 600 investors took part in the sale.
The takeaway: Buying shares in artwork or cars may not be for everybody, but if you’re an investor thinking about alternative asset classes, online platforms like Rally Rd. could possibly be right up your alley.
The gig economy is nothing new at this time, because of companies like Grubhub, Fiverr and Rover. However the gig landscape continues to improve, and you may still find new methods to earn money from this flexible design of work.
Take Uber. The ride-sharing giant recently rolled out a fresh app that matches gig workers with a number of different temporary jobs. The project, called Uber Works, launched initially in Chicago in October 2019. The business has partnered with different businesses in Chicago to provide gigs doing from assembly-line work to bartending.
But Uber Works is definately not the only new gig economy opportunity. For instance, the recently launched app Drum promises businesses usage of a network of salespeople on demand. And for restaurant workers, there’s Pared, which connects roving chefs, servers, dishwashers and line cooks to shifts. Then there’s Steady, an app launched in 2017 that’s designed to make finding gig work easier, while providing tools to track your earnings.
The takeaway: New opportunities continue steadily to arise in the gig economy, allowing more folks with different skills to make money online.
You don’t ought to be a celebrity influencer to create money on social media. Nowadays, Instagrammers or YouTubers with only 1,000 followers can attract sponsors.
These online tastemakers tend to be dubbed as micro-influencers or nano-influencers, in marketing jargon. Micro-influencers generally have between 2,000 to 50,000 followers, while nano-influencers have 2,000 or less (although the precise designations have become much up for debate).
These kind of influencers are popular because sponsors prize engagement, and the largest social media stars aren’t guaranteed to provide the best results. Actually, influencers with only one 1,000 followers can generate 85 percent higher engagement than people that have 100,000 followers. Several influencers are anyone else posting in regards to a hobby or trade they’re particularly proficient in, from running a photogenic hedgehog to offering up cleaning tips. Because of this, their followers often get yourself a more personal experience and their recommendations come off as more trustworthy.
The numbers back this up. A 2017 study suggested that 78 percent of millennials were either indifferent or had a poor view of celebrity endorsements. That’s resulted in brands spending 40 percent of their influencer budgets on micro-influencers, with only 28 percent specialized in celebrity influencers, according to a 2019 study.
Micro-influencers don’t command six figure deals, but there’s still money to be produced. Rates vary, but an influencer with 5,000 to 10,000 followers can command up to $500 per post, while followings of 25,000 can net $800, according to a post from Instagram marketing firm Later.
But how will you get sponsors aboard? You can contact a brand directly, and there’s also a whole industry specialized in connecting sponsors with relevant influencers. Options include TapInfluence, Tribe, Fohr and Grapevine, amongst others. Additionally, there are platforms like Patreon, which allow independent content creators to create money by selling memberships with their fans.
The takeaway: It’s challenging to create a large following on social media, but artful videos of you rolling dough could generate just a little extra dough, although you may only have a modest following.
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Basically all you own can now turn into a source of more income, because of the rental economy. The model popularized by Airbnb has gone far beyond renting rooms and homes.
Some newer Airbnb-style marketplaces include Jettly, where one can rent out an exclusive jet, or Swimply, where one can rent out your pool. Then there’s Rent the Backyard, a fresh company helping homeowners turn their unused yard into rental housing by fronting the expenses of creating studio apartments in empty backyards.
Others have already been around for some time, like car-sharing platform Turo or peer-to-peer boat rental company Boatsetter. There’s also Hipcamp, the “Airbnb for campsites.” Renting out activities is a trend too, with companies like BonAppetour letting you invite strangers over for supper. The list continues on and on.
Meanwhile, Airbnb isn’t standing idle as new startups join the fray. In October 2019, the business announced it could start allowing visitors to rent out animals within its experiences section. Which means people is now able to paddleboard with corgis or go skateboarding with a bulldog.
The takeaway: Just like the gig economy, the rental economy continues to evolve, with opportunities to loan out your belongings extending to just about any corner of existence.
From professional eSports tournaments to gamers earning a paycheck off their Twitch streams, there’s some serious cash shared in online gaming. But how about for normal folks with mediocre hand-eye coordination?
Recently, live mobile games like HQ Trivia have grown to be a good way to have a blast and potentially make just a little money. HQ Trivia popularized live mobile gaming in 2017, when it began hosting twice-daily competitions that attracted thousands of people to compete for prizes reaching in to the thousands. By 2019, HQ Trivia has reportedly paid $6.25 million in prizes, even though some winners have complained about delays in receiving their payouts. HQ Trivia’s breakout success paved just how for similar games, including FiveAlive, Swagbucks Live and Joyride.
A fresh player to view is Tally, a startup founded by Seattle Seahawks’ quarterback Russell Wilson and backed by Amazon’s Jeff Bezos. In 2018, Tally revealed a pop-up mobile game where participants can win cash prizes to make predictions around major live events, from NFL games to the Oscars. For the 2019 Super Bowl, Tally offered a $250,000 grand prize to anyone who correctly predicted 16 questions about the overall game.
The takeaway: You’re most likely not likely to get rich doing offers like HQ Trivia,