The Era of the Side Hustle
If there’s one thing that the pandemic has taught us, it’s that financial security and job security can be everchanging. Over the past two years, thousands of people have lost their jobs, companies have downsized, and some services are still limited in capacity due to government restrictions. It’s no wonder that 34% of Americans currently have a side-hustle. According to a recent survey, two-thirds (67%) of the Americans who have a side-hustle started it in the last three years.
There is no questioning why people want to have a second, or maybe even a third, source of income. It’s empowering to have multiple sources of income and people choose to do so for different reasons. Whether it’s to provide you with additional security to lean on in case of an emergency, to help you pay off debt quickly, to help counter the costs associated with owning certain items, or to invest back into your side hustle for further growth, the pursuit of side-hustles has shifted the views of many on how, and in what environment, they want to spend their time. Millennials, set to be the biggest number in today’s workforce, are finding a different kind of satisfaction from their side hustles, allowing them to have a level of control and source of personal enjoyment with how they spend their time making money.
Why Are Side Hustles Important?
Side hustles are becoming more than just a second source of income. It’s an opportunity to flex your inner entrepreneur and spend time working on passions and interests that your regular nine-to-five might not offer. For some, it’s doing online freelance work, others find joy in selling home baked goods, while others sell arts and homemade crafts. Of course, there are several other ways to make additional income. Passive side-hustles are gaining in popularity. These are avenues of income in which you can earn from assets that are already yours, without taking up much more of your time.
According to acorns.com, “the most lucrative way to make passive income is by renting out assets that you already own.” Whether it’s selling printables, uploading art for on-demand printing, or renting out living spaces and recreational vehicles or toys that you already have, making use of already existing assets reduces the need to devote a set amount of time every week. With this tactic, you can make use of current technologies and online platforms that benefit you with minimal effort. In short, you can make your assets work for you.
Powersport Equipment Owners
For recreational vehicle and equipment owners of all kinds, this is especially exciting. In a recently published article, the RV rental market was valued at $429 million in 2018 and is predicted to show an 8% growth rate over the next few years. More and more people are hoping to get outdoors and spend their time differently and because of this shift, the potential side-hustle market for powersport equipment owners is booming. If you’re like the many adventure lovers out there that have an RV, snowmobile, all-terrain vehicle, side-by-side or other powersport unit that is sitting in your garage gathering a bit more dust than you would have hoped for, this is an easy opportunity to gain passive income.
DayTrail, an online platform for adventure enthusiasts, is the best place to connect with people who share the same passion for the outdoors as you. With DayTrail, powersport equipment owners can list their well-maintained, ready-to-ride recreational vehicles as available to rent, and qualified DayTrail renters can browse for the perfect unit for their outing. DayTrail users have the guarantee that their rentals are covered by insurance offered through the platform as DayTrail is partnered with a leading insurance provider in the industry to protect the property and safety of every owner and renter using the service. And it doesn’t stop there, DayTrail provides promotional services for each owner’s item listed on the platform – for free.
DayTrail is a safe and simple way to rent your vehicle to other outdoor enthusiasts. It’s backed by insurance to ensure secure transactions, so you’ll have peace of mind when renting out your ride. Simply list your vehicle, accept your bookings, and hand off your keys.
If it sounds easy, it’s because it really is. Try our rental calculator to see how much you could make renting out your Vehicle on DayTrail. Let your recreational vehicle work for you!