With today’s economy, it is really difficult to sustain a family with only one income. It is because salary is not increased proportionally to the increase of the cost of living and therefore some people fail to even have some money to save. A side business is always the best alternative than doing a pert time job. The disadvantage of a part time job is that one has no control over the timings and the holidays and can sometimes not be flexible enough to suit ones convenience.
The only disadvantage in starting a side-business is that one has to invest some money but it is worthwhile as the benefits will rely on this, sometimes onetime investment. Also one has every control of the timing and convenience of this type of business. There are many types of side businesses one can get into but on should keep in mind that the business also needs a certain amount of commitments, effort and time. Given below are few types of side business that will help one gain some extra cash that can be saved or used to support the family.
One could be a hiring agent to customers that require goods and suuplies
This is a very easy way of earning some quick bucks. An example would be by purchasing many tables and chairs and then hiring them to various customers for different events. In this way one is covering up the amount spent on purchasing the items and plus one gets a certain amount of profit. More the chairs and tables one owns, more the profit one could gain. But of course to store and maintain the tables and chairs one must have some space and appoint a worker to over look into the maintenance prospective. Photo booth rental in Perth at V.I.P Lane Photobooth is also another alternative side business.
Photo booth hire would give one more profit than buying tables and chairs as it is in demand and it is in trend.
Buying shares and foreign currency
Share business is a more complicated one but if one is an expert in economics and keeps track of the share rates one could easily reap some benefit out of it. This side business is not a onetime thing. There is a lot of buying and selling involved and it also has its disadvantages. The disadvantage is that there is no guaranteed pattern of the share rates. It fluctuates and if one sells the shares when it is at its lowest then it is a big loss. Changing currencies when the rates are higher can also be a profit. This is also similar to buying and selling shares and requires the same commitment.