October 2020 Side Hustle Income Breakdown
Below is a breakdown of the 3 main apps I used for my October 2020 side hustle income.
The thing I want people to understand is that I already work from 11am-10pm, 7 days a week, since opening up my restaurant in New York.
These side hustles mentioned are what I do on top of running my restaurant to make more money because we’re still paying off startup cost and cash flow is still slightly tight.
From our estimates, we will be paying off startup costs and debt related to starting up for the next 2-3 years.
After paying those off, cash flow will be MUCH better.
I understand there are better ways to do this versus just delivering food and groceries, make better use of food items and staff so we increase cash flow from social media marketing etc. blah blah blah.
I get it.
I’m working on it.
We’re thinking of opening a late night version of our restaurant, take out only, to sell food to people leaving the bars in the area.
The idea is that by selling for a couple hours past our usual closing time, we might be able to bring in enough sales that I wouldn’t have to go around driving and delivering groceries and other restaurants’ food.
So it would make good use of our restaurant (sunk cost), and the staff would be happy because they get more hours (make more money), and we would be happy because greater turnover of food so it stays fresher longer, not to mention servicing the community with good food late at night besides the only two other options: Wendy’s and McDonald’s.
Advice for Making More Money
Have the apps on at the same time.
I have both the UberEats and DoorDash on at both times.
Whichever one has an order first, I turn off the other one.
Then when I’m done, I turn the other one back and on and repeat.
This allows you to fully utilize down time to make money.
Because every minute you’re not making money on the apps is wasted time.
October 2020 was a decent month
I did some but not much of the side-hustles because my girlfriend and I are in the process of starting an ecommerce website on top of running the restaurant.
Starting a new baby while taking care of one baby is a full time job in and of itself.
Add pilates, working out at the gym, making sure we get 8 hours of sleep a night, showering, eating 3-4 square meals a day, and maintaining sanity are other important things to consider too.
I definitely recommend people pick up side-hustles if they’re not doing so already.
It offers a flexible money making opportunity that’s available most times of the day, and most days of the week.
Also, side-hustles offer a much faster way to make money than through blogging, in case anyone reading this wants to start a blog to monetize to start making money.
After years of writing, I would go the side-hustle route first and invest as much of that money as possible into Vanguard’s S&P500 Index mutual fund.