Last Updated on Apr 20, 2021 by James W
If you’re looking for a means of supplementing your income, or of generating one from nothing, then the answer might be sitting on your drive. A car is something that requires a substantial investment to keep on the road. But with the right attitude and strategy, you can make a worthwhile return on that investment. Let’s take a look at how.
Become a Courier
The modern consumer economy is heavily dependent on packages getting to the doors of customers – and that means there’s unprecedented demand for competent couriers. You’ll be able to maintain control of your work schedule and remain self-employed. This makes it a flexible option to put beside your existing work schedule.
Food and Shopping delivery
Services like Deliveroo have revolutionised the way we send packages over short distances, and among the biggest beneficiaries have been takeaway restaurants. You’ll be partnering with a respected and established company, but you’ll also be expected to work to tight deadlines, and to be available at a moment’s notice. Consider the advantages and drawbacks before you set out.
Private Hire Taxi Driver
Among the most obvious sources of income for a professional driver is to turn your car into a taxi. Ride-sharing apps like Uber and Lyft have changed the game to the same degree as Deliveroo has for delivery, but there are still other, more traditional players to consider. You might even set up your own taxi firm – but you’ll be taking on greater risk in this instance, and you’ll have more upfront costs to consider. If you’re willing to pick up a premium-quality car like a Mercedes, then you might find that you’re able to make even more money by appealing to premium-paying clients.
Car Wrapping
Car wrap is a form of advertising that’s emblazoned on the side of your vehicle. It’s a great way to advertise your own business, but you’ll also have the option of getting third-party sponsors. The good news here is that you don’t have to actually do anything with your car, except drive around, to benefit from the advert. The bad news is that the companies looking to advertise in this way will want to be fairly sure that they’ll get a return on the investment, which in many cases can’t be guaranteed.
Service Provider
If you have the skills necessary to provide a service that people might need remotely, then a car can be a tremendous asset. Providing a service for which there’s an acute need will mean that you’re able to charge a premium. For example, emergency plumbers and locksmiths operate on the basis that they can be called out at virtually any time. It’s difficult to juggle work of this sort with other obligations, and you’ll need a pre-existing set of skills to make it work. But the money can be great, because people like convenience!
