As an experienced small business consultant who has coached dozens of entrepreneurs, I‘ve seen firsthand how embracing a joint side hustle can empower couples financially while bringing them closer together. However, without thoughtful planning, unclear expectations and misaligned priorities can undermine the entire endeavor.
This comprehensive guide draws from proven best practices to set you and your partner up for side hustle success.
Why a Joint Venture Makes Sense
Before diving into specific ideas, let‘s explore why a collaborative approach is smart:
Leverages Complementary Strengths
Partners often have diverse skill sets that beautifully complement one another. One may excel at writing while the other thrives on social media marketing. Fuse your respective superpowers to create something greater than the sum of its parts.
Makes Complex Ventures Feasible
Certain lucrative side hustles like ecommerce stores or freelance agencies require competencies that a single person may lack. By combining abilities, couples gain capacity to tackle more sophisticated and profitable ventures.
Enhances Work-Life Balance
As solo entrepreneurs know all too well, hustling alone can be isolating and burnout-inducing. Having a partner to share the workload allows you to support each other during crunch times.
Aligns with Relationship Goals
74% of couplescited shared financial objectives as essential for relationship success [1]. Embarking on a joint venture lets you enrich your bond while building wealth together.
An Informed Approach: Key Considerations
While the prospect of a joint side hustle is enticing, consider these factors to set the stage for an informed launch:
Personality Fit
Just like any partnership, make sure your work styles and temperaments complement one another. Open communication and emotional intelligence from both parties are key.
Individual Passions
The most sustainable ventures align with interests you individually find engaging. Also, preserve personal downtime to prevent resenting the hustle.
Desired Income
Research potential earnings realistically before investing significant time into a venture. Considering pivoting if it won‘t deliver your needed income.
Skill Gaps
Getting clear on abilities you each lack is key to recognizing tasks needing outsourced expertise. Bolster in-house skills first where possible.
With this foundation established, let‘s explore 21 of the most lucrative and fulfilling side hustle ideas for couples.
21 Profitable Joint Ventures to Launch This Year
1. Resale Arbitrage
Profit Potential: $30k+/year
Sourcing discounted products locally then reselling on sites like eBay is a tried and true hustle. While one partner hits thrift stores and garage sales, the other handles listing and fulfillment.
2. Event/Wedding Planning
Profit Potential: $55k+/year
Fusing creative vision and logistics management in coordinating celebrations and corporate events. Manage vendor relations, booking, contracting, and promotion collaboratively.
3. Real Estate Investing
Profit Potential: $60k+/year
With one overseeing property rehabs and interfacing with contractors while the other leads marketing and tenant relations, couples thrive in building rental portfolio income.
4. Airbnb Hospitality
Profit Potential: $20k+/year
Monetizing extra living space. Host guests in your home part-time while maintaining privacy. Create outstanding travel experiences together.
5. Freelance Writing Agency
Profit Potential: $30k+/year
Combine writing, editing, client outreach, and project management skills to craft custom content for thought leaders, brands and publishers seeking an outsourced creative department.
6. Ecommerce Empire
Profit Potential: $100k+/year
The gold standard for ambitious side hustlers. Sell own products, provide dropshipping fulfillment, or aggregate goods via Amazon FBA. Carefully select niche, target audience, and positioning.
7. Pet Sitting/Dog Walking
Profit Potential: $55k+/year
For animal lovers, provide premium in-home pet care including walks, playtime, feeding, medication administration while owners travel. Scale through word of mouth once 5 star reviewed.
8. Mobile Notary Public
Profit Potential: $65k+/year
Travel on-site to witness signatures on legal documents. Demand is high amidst booming real estate market. One can focus on marketing and client relations, the other on admin and operations.
9. Lead Home Renovations
Profit Potential: $85k+/year
If one or both are skilled in construction, market design/build services for bathroom and kitchen remodels. Also train and manage subcontractors to scale.
10. Residential Cleaning
Profit Potential: $65k+/year
Provide regular cleaning services for homes and apartments. As demand grows, take on employees while keeping top clients for yourselves.
11. Garment Alterations
Profit Potential: $45k+/year
Offer specialty tailoring and alterations out of home studio, or even on-site for bridal shops. Once reviewed, leads flow readily from wedding referrals.
12. Corporate Wellness Training
Profit Potential: $95k+/year
Draw on health/fitness credentials to lead employees through workout classes, well-being workshops, and cooking demos sponsored by forward-thinking companies.
13. Commercial Landscaping
Profit Potential: $85k+/year
Cultivate lush exteriors for corporate campuses and properties. While one focuses on horticulture and installation, the other manages customer relations and scheduling.
14. Social Media Management
Profit Potential: $150k+/year
Strategically grow brands‘ presence through paid social campaigns, content creation, community management, and analytical reporting.
15. Business Consultancy
Profit Potential: $250k+/year
Fuse your strategic perspectives from past corporate leadership roles to provide outsourced C-suite guidance scaling startups and small business ventures.
16. Food Truck
Profit Potential: $250k+/year
Capitalize on America‘s street food obsession by launching a joint mobile cuisine concept from inception to execution – from permits and recipes to marketing and daily operations.
17. Amazon Wholesale
Profit Potential: $500k+/year
Sourcing products overseas to wholesaling domestically, fueled by Amazon‘s expansive infrastructure. Long-term play perfect for strategically building passive income.
18. Info Products
Profit Potential: Unlimited
Create online courses, video tutorials, ebooks, or podcasts you charge subscription access for. Find eager niche audiences hungry for your hard-won knowledge.
19. Mobile App Startup
Profit Potential: Unlimited
One focusing on UI/UX design and the other on back-end development can craft the next viral app. Start by validating your MVP concept first with target users.
20. SAAS Platform
Profit Potential: Unlimited
Bring a web-based software solution to market that solves an acute business need. Charge monthly subscriptions. Revenue stacks exponentially once product market fit proven.
21. Venture Capital Firm
Profit Potential: Unlimited
For seasoned investors and former founders ready to back emerging startups. Conduct due diligence, nurture portfolio companies, and leverage networks to drive returns.
Ready for Next Steps?
The possibilities for collaborative side hustles are endless, but I hope this guide provided a solid starting point for envisioning – and more importantly – launching a profitable joint venture tailored to you and your partner‘s passions.
Wishing you tremendous success! Please don‘t hesitate to reach out if you need any assistance getting your new hustle up and running.
All the best,
[Your name]
Small Business Consultant & Startup Advisor
Sources
[1] HealthyWage 2022 Survey on Financial Harmony in Relationships
