2 side hustle ideas I would consider using – without the hustle

first_img See all posts by Christopher Ruane Our 6 ‘Best Buys Now’ Shares With more time on their hands and less steady income, a lot of people have spent the past year hunting for side hustle ideas. From driving for Uber to selling on Ebay, it seems there are all sorts of ways people are looking to make some extra income.But the thing I don’t like about the “side hustle” is that it often still is a hustle. Many side hustle ideas take a lot of time and physical energy. That’s why I like side hustle ideas such as putting a bit of money each month into shares that could generate some passive income for me. 5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Passive income from selling everyday itemsInstead of sitting on my floor making candles or homemade food to sell online, I would look at companies who already have experience of doing such activity profitably.For example, the UK’s biggest supermarket chain Tesco sells everything from craft food brands to scented candles. It usually distributes some of its profits to shareholders as dividends. Right now, the yield is around 4.2%. That means that for every £100 I put into the shares, I would hope to get £4.20 back each year while I held the shares.I reckon Tesco knows far more than I ever will about selling household goods – whether online or in store. Plus tucking this money away in Tesco shares, I won’t need to do any work. I can just sit at home and wait for my passive income stream of dividends.However, dividends are never guaranteed. Tesco could decide to spend the money in growing its business instead, for example. A tougher retail environment with growing discount retailers could damage profits, as could a strategic mis-step by management. That’s one reason I would invest in shares of more than one company as my side hustle.Digital side hustle ideasA lot of side hustle ideas are aimed at digital nomads, who want to sell their expertise and deliver it online.That could be anything from tutoring to programming. But I think I can earn passive income from such side hustle ideas without having to do the work myself.An example is investing in Sage (LSE: SGE). This well-established accountancy software provider has over 12,000 employees. With the company’s brand name, expertise, and financial firepower I think it is better suited than I am to monetise the delivery of expertise online.Historically, like many software companies, Sage physically installed its software. Now it is increasingly moving to a software-as-a-service model. The Sage Business Cloud model allows the company to earn money by delivering the company’s software expertise remotely.I like the target market of small and medium enterprises, as their accounting needs should stay fairly consistent. I also like the scaleability of software delivered through the cloud. More customers allow the development costs to be spread wider, which could boost profit margins.Sage yields 2.9%. The dividend has been raised each year for two decades. However, there are risks – for example, competitors could develop better software. The costs of developing cloud  infrastructure could also eat into profits.Tesco and Sage are side hustle ideas I would consider – without the hustle. I would consider investing in them to try to generate passive income using some of the principles of a side hustle but not the effort. Enter Your Email Address I’m sure you’ll agree that’s quite the statement from Motley Fool Co-Founder Tom Gardner.But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.What’s more, we firmly believe there’s still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.And right now, we’re giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool. Image source: Getty Images. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. “This Stock Could Be Like Buying Amazon in 1997”center_img Simply click below to discover how you can take advantage of this. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Christopher Ruane | Wednesday, 24th March, 2021 | More on: SGE TSCO Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge! 2 side hustle ideas I would consider using – without the hustle christopherruane has no position in any of the shares mentioned. The Motley Fool UK has recommended eBay, Sage Group, Tesco, and Uber Technologies. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.last_img read more