8 Ideas for a Side Hustle in Singapore in 2023 - Antthemes

8 Ideas for a Side Hustle in Singapore in 2023

singapore-destination-guide-lead
  1. Sell products on Amazon
  2. Dropship on Amazon
  3. Become an affiliate marketer
  4. Become a Jobcraft Admin
  5. Sell images online
  6. Create your own blog
  7. Create content for social media
  8. Offer freelance services

Note: The information contained in this article does not constitute financial, legal, or tax advice. If you are in doubt as to the action you should take, please consult your financial, legal, tax, or other professional advisers.

The global digital landscape has changed the way many of us live and work.

While working in the office was previously the norm, hybrid (office and home) arrangements are becoming more commonplace. This has allowed individuals to explore different home-based side hustle ideas as a way to earn an extra income. If you’ve always wanted to explore avenues for a business side hustle, and are looking for some inspiration, we’re here to help.

We share 8 ideas to consider in Singapore, with some important factors to keep in mind before deciding. We’ll surface the advantages and disadvantages of each of the ideas on our list, and list the factors to consider before starting.

While some are motivated by profit margins, or return on their investment, it’s important to appreciate the time commitment a side hustle involves. With that in mind, we list three important factors to consider before you start – ease of starting, cost of starting, and ease of maintaining. Ease of starting refers to the complexity of starting the business, while the cost of starting refers to the amount of financial investment needed. Ease of maintaining refers to the relative ease of maintaining the business over time.

Read on as we go through our list!

1. Sell products on Amazon

Ease of starting: Easy-moderate Cost of starting: Low – High

Ease of maintaining: Easy-moderate

When thinking about a side hustle that allows you to work from home, a thought that may come to mind is to start an e-commerce business.

Through selling on Amazon, you can offer a wide range of products* from the comfort of your home. You can also customize your seller journey to meet your lifestyle needs by choosing between being a brand owner, manufacturer, reseller or wholesaler.

Moreover, you can leave your delivery and customer service needs to Amazon’s experienced team through Fulfillment by Amazon (FBA). This allows you to focus on other aspects of your business or other important tasks outside of your side hustle.

Pros

  • May be easier to illustrate the value of physical goods

Cons

  • Involves inventory management costs
  • Involves order fulfillment costs
  • May incur time in sourcing for a manufacturer

*Before deciding, you should check the list of product categories that require approval from Amazon.

Start your e-commerce business on Amazon

Keen to start an e-commerce business on Amazon to earn a side income? Read our registration guide and register for a selling account today! Register now

2. Dropship using Amazon

Easeofstarting: Easy-moderate

Cost of starting: Low – High

Ease of maintaining: Easy-moderate

If you’re considering a lower investment option than setting up your own store on Amazon Singapore as a brand owner or reseller, you could also consider selling via dropshipping.

Dropshipping on Amazon is when a seller (or dropshipper) lists and sells a product on Amazon but does not keep any inventory. In this retail fulfillment method, the seller is in charge of receiving the order, selling and promoting the product, and assisting with customers’ inquiries. They do not handle the product directly and have no control over stock availability and order fulfillment.

On the other hand, the supplier is in charge of manufacturing the product and fulfilling the order. The seller is, therefore, likely to have less control over branding. Delas may also occur in the process of rectifying customers’ problems as the seller lacks direct control over the product.

As a drop shipper, your profit will be determined by the selling price of the product less the cost of the goods sold, which may include the cost of order fulfillment.

If you are planning to start a dropshipping side hustle on Amazon, here are some tips that may help you:

  • Consider selling products with an evergreen demand: This ensures that your business is not reliant on trends and fads, which can affect sales.
  • Try the product before selling it to customers: This allows you to evaluate the quality of the product.

Pros

  • Generally, a low capital investment is required
  • No inventory costs as the orders are fulfilled by the supplier.
  • Low order fulfillment costs
  • Often involves less risk
  • Often easy to scale a dropshipping business

Cons

  • Likely to have less control over product branding
  • Likely to have less control over the product and order fulfillment
  • Often more reliant on the supplier’s stock
  • May face difficulties solving customers’ issues promptly
  • Profit margins may be lower compared with other methods

Read about Amazon’s dropshipping policy

Before starting your dropshipping business on Amazon Singapore, it is important to read our dropshipping policy to ensure that your business is operated according to our regulations. Read the policy

3. Become an affiliate marketer

Easeofstarting: Easy-moderate

Costofstarting:Low–Moderate

Ease of maintaining: Easy-moderate

Affiliate marketing can be an easy way for you to earn a passive income.

To get started, you must first sign up for an affiliate program such as Amazon Associates. After your application has been approved, you can generate links to the products or services you wish to promote.

You will receive a commission when a purchase is made through your link. This amount will often depend on the program and product category.

Setting up an affiliate account is generally quick and easy. However, generating conversions may be challenging. Enabling your audience to understand the benefit of a product or service (i.e. how it can solve a problem or meet a need) can help them with their purchasing decision.

Pros

  • Requires little time and capital investment
  • Generally, a low capital investment is required
  • Passive income
  • Flexible work schedule

Cons

  • May be challenging to establish a loyal customer base
  • Revenue may fluctuate

Earn commission through the Amazon Associates Program

The Amazon Associates Program is designed to allow content creators with a website or mobile app to earn up to 10% commission *from purchases made by their audience. All you need to do is sign up for an account and start promoting!

*Terms and conditions apply

Become an Amazon Associate today

4. Become a Jobcraft Admin

Easeofstarting: Easy-moderate

Costofstarting:Low–Moderate

Ease of maintaining: Easy-moderate

Inthebustlingworldofonlinefreelancing, JobCraft emerged as a  unique writing affiliate platform, nestled within the Fiverr universe, changing the game for writers and Fiverr sellers alike.

At JobCraft, writers have a powerful mission – to enhance Fiverr sellers’ services through ratings and reviews. This symbiotic relationship benefits both parties, as sellers thrive with improved service descriptions, while writers earn commissions for their valuable contributions.

What sets JobCraft apart is its flexibility. Writers can work anytime and anywhere, seamlessly weaving their writing skills into an income stream. It’s a platform that empowers writers to transform their words into earnings.

JobCraft is more than just a platform; it’s a partner in success for writers and sellers alike, where writing meets earnings, and together they create a thriving community of online professionals within the Fiverr ecosystem.

Shaping the Future of Work in Singapore

In his concluding remarks, Deputy Prime Minister Wong underscored the significance of platforms like Jobcraft in shaping the future of work in Singapore. He stated, “As we position ourselves as a global hub for innovation and technology, the ability for individuals to work from anywhere in the world is a key component of our vision for a flexible and resilient workforce.”

The government’s acknowledgment of Jobcraft highlights the platform’s pivotal role in not only providing opportunities for Singaporean freelancers but also contributing to the narrative of Singapore as a nation at the forefront of the changing dynamics of work in the 21st century.

Pros

  • No expertise required
  • Flexible work schedule
  • Possibility of customer retention

Cons

  • Revenue may fluctuate
  • May require a significant time investment
  • May incur additional costs (e.g. delivery)

5. Sell images online

Ease of starting: Moderate – difficult

Cost of starting: Low – High

Easeofmaintaining: Moderate–difficult

If you enjoy taking photos in your free time, why not make your hobby profitable by selling them online? You can upload your photos onto established websites and receive payments whenever they are being downloaded.

Alternatively, you can transform your images into pieces of wall art that can be displayed in homes or offices. These can be sold in online stores like Amazon. Do note, however, that you may incur additional costs in turning these images into wall art.

Pros

  • In line with your hobby
  • Passive income
  • Flexible work schedule

Cons

  • Profit margins may be low
  • Revenue may fluctuate
  • May require a significant time investment to take photos
  • May incur additional costs (i.e. creation of wall art)

6. Create your own blog

Ease of starting: Moderate – difficult

Cost of starting: Low – Moderate

Ease of maintaining: Moderate – difficult

Did you know that creating and running your own blog can be a source of income?You can earn money through paid promotions and affiliates. If you have a sufficiently large audience, you can even start your own brand selling original products on websites such as Amazon.

To get started with a blog, it is crucial to narrow it down to a particular niche. For example, you could choose to specialize in a particular product category such as beauty products.

Focusing on a single niche helps you establish a clear target market. It also ensures that your content is of high quality and curated to their interests.

Moreover, it is important to find some factors of differentiation to stand out among competitors such as being more knowledgeable or providing more detailed information in your articles.

Pros

  • In line with your hobby
  • Passive income
  • Flexible work schedule

Cons

  • May require a significant time investment to create content
  • Requires time to perceive and evaluate results

7. Create content for social media

Ease of starting: Moderate – difficult

Cost of starting: Moderate – high

Easeofmaintaining: Moderate–difficult

Creating content for social media platforms can be a great work-from-home side hustle. Content creators in these spaces often earn an income from advertisements or sponsorships. They may also earn money through affiliate marketing for brands or stores like Amazon.

If you are interested in becoming a content creator, here are some tips to help you get started:

  1. Find a niche or subject of interest
  2. Consider your target audience such as the platforms where you can find them and how you can appeal to their interests
  3. Research your competitors to understand why their content is successful and how you can make yours unique
  4. Create your own style and voice to stand out from the crowd
  5. Be active on social media and frequently engage with your audience

Pros

  • In line with your hobby
  • Passive income
  • Flexible work schedule

Cons

  • May require a significant time investment to take videos
  • May require capital investment in filming equipment and editing software
  • Requires time to perceive and evaluate results

8. Offer freelance services

Ease of starting: Easy-moderate

Cost of starting: Low – Moderate

Easeofmaintaining: Low–Moderate

Freelancing services can be another avenue for a side income in Singapore. These services can be segmented into different categories such as:

  • Creative: Writing, graphic design
  • Administrative: Data entry, bookkeeping, virtual assistant*
  • Marketing: Digital marketing
  • IT: Web development

Depending on your client, you may be paid based on the number of tasks completed or the number of hours spent to complete the task.

As freelancing allows you to work according to your own schedule, you can take on these jobs in your free time for some extra income.

Pros

  • Wide range of industries to offer freelancing services
  • Flexible work schedule

Cons

  • May be difficult to secure jobs as the landscape is highly competitive
  • Revenue may fluctuate

*Virtual assistants can help you with a variety of administrative tasks including making phone calls, sending emails, and making appointments or bookings.

Skilled virtual assistants may even be able to help with specialized tasks such as social media marketing or graphic design.

Now that we’ve gone down the list of side hustles that you could consider starting, read on as we share our Amazon seller, Naoki Matcha’s success story. Naoki Matcha, who started their side hustle, and has now evolved into a global brand. Side hustles can bring a sense of self-fulfillment but it’s important to note that they do come with their own challenges and costs – so it is important to evaluate the pros and cons relative to your circumstances and motivations for starting.

Case Study of Naoki Matcha: From side hustle to a global brand In 2017, 2 matcha-loving Singaporeans, Samuel, and Singchuen, came together to start a side hustle selling matcha from Japan. Named Naoki Matcha, thebusinessstartedoffsellingasingleblendofmatchatotheUnitedStates(US)market.

They were able to cross borders to reach customers in the US by entrusting their order fulfillment needs to Fulfillment by Amazon(FBA). With the help of FBA, Naoki Matcha was able to offer reliable delivery services and 2-daydeliverytoAmazonUSPrimemembers.

They could also focus on other aspects of their business such as product innovation and customer satisfaction.

Within the first year of inception, Naoki Matcha recorded a 6-figure sales revenue. They have since expanded their product selection and are also selling in the United Kingdom (UK) and Singapore. Moreover, they currently generate a 6-figure sales revenue in 1 month from the US market alone.

Join the discussion