MaterialsMarket.com reveals the top-earning side hustles for 2022, highlighting carpentry as a skill which could earn you almost an extra £20k per year.
Additional £20K Annually
MaterialsMarket.com, a marketplace connecting professional and hobbyist builders with materials suppliers, has surveyed Brits with at least one hobby turned side hustle to reveal which ones can make the most extra cash. Carpentry tops the list as the most lucrative side hustle, with an average additional income of £1,600 per month (£19,200 annually). This is followed by dropshipping and baking, offering the chance to earn an extra £1,300 and £1,000 per month, respectively. The survey comes after a large spike in interest over the past year with people searching for side hustles online.
Top Five Highest-Earning Side Hustles
The top five highest-earning side hustles, with the average additional monthly income, are:
- Carpentry, approx. £1,600 per month
- Dropshipping, approx. £1,300 per month
- Baking, approx. £1,000 per month
- Streaming, approx. £800 per month
- Wholesaling, approx. £650 per month
Increase in Interest for Side Hustles
The earnings are based on survey findings that revealed the average amount that respondents earn for each side hustle, when working for an average of 30 hours per month. The study comes after a spike in interest of people searching for side hustles online.
Carpentry tops the list of the highest-earning side hustles. Despite the initial expense of tools and materials, carpenters selling bespoke items can look to earn a monthly average of £1,600, while those working on more practical projects – such as wardrobe making – can earn over £1,000 on one project alone.
For those looking to earn some extra cash with a hustle that is a little less hands-on and requires less technical skill, dropshipping may be a viable option. Dropshipping is a form of retail where the seller accepts customer orders but does not keep goods sold in stock and orders directly from the supplier (who sends the item directly to the customer). This is a great option to generate extra income for those with limited space or funds. Dropshipping is not to be confused with wholesaling (another lucrative side hustle), where people buy products in bulk and sell them on at a profit.
Despite the recent rise in people working from home, hustlers wanting to make the most of their break times can still benefit from marketing themselves as a dog walker or pet sitter. There are plenty of sites to advertise on but using social media is a great way to drum up business, with the chance to earn up to £430 per month on the side depending on how many pets you’re taking care of.
MaterialsMarket.com is a marketplace seeking to improve efficiency in the construction supply industry, providing speedy delivery times and affordable pricing. With the belief that for every order there is a perfect supplier, it aims to match the customer and supplier, saving time, money, and stress.
Samuel Hunt, co-founder of MaterialsMarket.com, said,
“I think the events of the past two years have pushed people to look to additional sources of income to supplement their primary earnings. We were intrigued by the trend and wanted to find out just how far it went, so we decided to conduct our own research.”
“As with any business, it all starts with hard work and good marketing but from there it is all about talent and making the most of your audience. I never imagined that something as simple (and admittedly as fun) as baking could earn so much as a side hustle – I guess it’s time to get my apron out!”