Side hustles. Most of us (45%) have one of some sort – selling stuff on Etsy or eBay, writing a book to sell via Amazon Kindle Direct Publishing, knitting socks to sell at a craft fair, that sort of thing.
But, lately, a lot of people are getting misled by TikTok’ers who claim that their side hustle is the second coming. Creators are boasting about their success in everything from virtual assistants to tutoring. Is everything you see real or is it just clever content marketing?
SideHustles.com recently dove into the TikTok side hustles to separate fact from fiction. Over 1,900 videos on TikTok were analyzed to identify the most popular side gigs, their potential earnings, and their time demands. The researchers say they also unearthed some startling truths about how misleading some of those claims are.
Breaking down the facts
When you look at the metrics on what SideHustles’ researchers found, the most eye-popping figure is that nearly 15% of TikTok videos on side hustles contain misleading or exaggerated claims — affiliate marketing, real estate, and drop-shipping being the top side hustles in regards to misleading or exaggerated claims.
What kind of misleading information should you watch out for? Here are some common exaggerations:
Promises of unrealistically high earnings
Claims of “easy money”
Suggestions of low effort but high rewards
Guarantees of quick success
Assurances of guaranteed income
Pitches for “risk-free” investments
But you’ve got to be realistic when you watch these videos, suggests Mark Slack, SideHustles.com cofounder. “In the side hustle community, clickbait and engagement-bait come in the form of claiming big dollar earnings in a short amount of time with the least amount of effort,” he told ConsumerAffairs.
How much effort can you realistically get out of a side hustle?
There are hundreds of TikTok videos claiming you can get rich off of some of these side hustles – maybe $10,000 a month doing affiliate marketing or $5,000 selling real estate. However, you’re either going to have to work your tail off – as much as 40 hours a week -- which makes it more than just a side hustle – or be very lucky, because not everyone who says they can do those services can or even know how.
If you want something that’s got slightly better odds, the researchers think you should look at these top three side hustles with the highest average earnings per month:
Consulting: $1,000–$5,000
Graphic design: $500–$4,000
Social media management: $500–$3,000
Where time is precious because of family responsibilities or a more pressing full-time job, the researchers consider tutoring and pet sitting the best options. Both require only five to 20 hours a week and you can pretty much call the shots of how many clients you’ll take on.
Word to the wise
Don't let this discourage you if you're interested in these popular side hustles. They can still be great ways to earn extra cash. Just make sure to do your research beyond TikTok, Slack said.
“While you absolutely can, and many have, made money with the side hustles commonly discussed on TikTok, it’s always the result of determined work. If anyone is selling you secrets, ask why they need to if they’re already so successful.”