National Small Business Week, celebrating the important contributions of entrepreneurs and small business owners across the United States, is almost upon us. Today, more and more Americans can imagine starting their own business. Young people are particularly interested: According to a report by Samsung and Morning Consult, 50% of Generation Z aspire to become entrepreneurs or start their own business.
But Americans of all ages are embracing the age of the side hustle: According to a Bankrate survey, 39% are taking on an additional job and 44% believe they will always need it to keep up with the bills. However, one side hustle isn’t necessarily the same as the next in terms of time and money investment – or potential return. While app-arranged tutoring sessions or dog walks can be a convenient way to make extra money, they’re less likely to exceed the income of a typical 9-5 day job than a side hustle on the path to small business status.
Related: This flexible side job is helping millions make extra money – and it could be more “attractive” than an office job
So what does it take to turn a side hustle into a full-fledged small business – or start one? Entrepreneurs whose successful businesses started as side hustles can offer some key insights, including three of those featured in our ongoing Side Hustle Spotlight series: Greg Kerr, owner of Alchemy Merch; Kim Vaccarella, founder of Bogg Bag; and Sarah Michelle Boes, founder of Sarah Michelle NP Reviews (SMNP).
Read on to learn more about their journeys and secrets to side hustle success:
1. Greg Kerr, founder of Alchemy Merch
Kerr was working as a musician when he started selling custom pins in 2015. Today, Alchemy Merch is a full-time business, creating custom products for companies like Apple, Nickelodeon, National Geographic, Nike and more, as well as independent artists looking for ways to monetize their artwork in new ways. Kerr’s company grew sales from $0 to $1 million in 18 months and has had annual sales of just under $2 million in recent years.
Kerr’s advice: “It’s hard running a business after hours when you work 9 to 5, but if you really want it, you have to put in the work. When you’re thinking about starting a side hustle, really think about what you want to do, and if there’s a need for it or room in the market to improve on what’s out there, the told me Market how much Alchemy Merch was needed and I responded when it became clear that this was here to stay. I have never looked back over the last 20 years, so it gave me some clarity to continue with the momentum and realize that, what we did had real value.”
Related: After being fired from Meta in 2023, he dedicated himself full-time to his side hustle – now he makes about $200,000 a year: ‘Sweet, sweet irony’
2. Kim Vaccarella, founder of Bogg Bag
In 2008, Vaccarella was working in commercial real estate when she came up with the idea for a “better beach bag” — one that was sturdy, large and washable. In 2018, Vaccarella became full-time at the company and at that time set an ambitious goal: $1 million in sales. Bogg Bag has achieved this goal, reaching over $50 million in sales by 2023. This year the company wants to exceed the $100 million sales mark.
Vaccarella’s advice: “My mantra? Slow and steady wins the race. Starting a business from scratch is a learning curve like no other. I believe in taking hands-on ownership of every part of the operation, even if that requires cleaning the warehouse. It’s about trusting your instincts, moving at a pace that feels right, and an open mind Maintaining communication with everyone you cross paths with. You will be surprised at the connections you can make and what you can learn from them.
Related: Her college side hustle led to an instantly profitable product that sold for up to $450 — and she didn’t even consider herself a “business person”
3. Sarah Michelle Boes, founder of Sarah Michelle NP Reviews (SMNP)
After passing her nursing exam proved easier than expected, Sarah Michelle Boes wanted to instill confidence in others, so she put together an online review course. The side business reached seven figures in just seven months and was then sold to Blueprint Test Prep after two years in 2022 for a “life-changing” amount. Boes currently serves as chief nursing officer for Blueprint Test Prep.
Boes’ advice: “I don’t want to sound cliche, I just want to start. Because I had an idea in my car.” [and ran with it]. I made the first recordings of the courses via Zoom; Our air conditioning broke down and it was Memorial Day weekend and I’m sitting up in my attic sweating because it’s the only quiet place to record. I didn’t have a website until September. We’re on Zoom, [arranging] on Facebook, [getting paid via] Venmo, Cash App or Zelle. So you literally just have to start and then you can figure things out as you go along. It doesn’t have to be really polished or fancy. If you have a great product that resonates with people, they will overlook all of these things.”
Related: This insurance agent started a side hustle inspired by nostalgia for his home state — now he makes nearly $40,000 a month