72 per cent of Canadian side hustlers hope to turn their passion project into primary income: GoDaddy study
Thursday, June 1, 2023
Study also finds that over half (58%) of Canadian entrepreneurs have had multiple side-hustles
TORONTO, May 24, 2023 /CNW/ - Today, GoDaddy released findings that reveal close to three-quarters of side-hustlers (72%) hope to turn their side hustle into their primary business in the future. Canadians are also redefining the "passion project," with one-third (37%) of Canadians saying their side hustle was driven by passion as a motivator.
While many may not associate the term "passion project" with "profit," 49 per cent report they made over $5,000 through their side hustle in 2022. More than one-quarter (26%) reported making over $10,000.
Canadian side hustle owners agree having a website is vital for success - this is especially true among younger side hustle owners between 18 and 34 years old, with 65 per cent saying their website is the most important channel for their side hustle.
New website and e-commerce tools like the Website Builder and Online Store products from GoDaddy are making it easier than ever for Canadians to start their side business.
Almost half (45%) of Canadian side hustlers say it only took them a few days to have their business website up and running - one-in-four (24%) said it took them less than a day. Only six per cent said they paid to have their website built for them.
One side hustler who has found setting-up their e-commerce business easy, quick and profitable is GoDaddy customer, Kat Velez, co-owner of 2LS Design.
"My GoDaddy website has been the most important tool for my business growth," Kat said. "Not only does it serve as a portfolio for potential clients, but recently my customers also started asking about buying and booking through my website - earlier this month I added an online store to my site, which will make it easy for customers to book consultations. In the future I plan to add staged décor and extra materials from completed projects."
The findings arrive at a time when many Canadians are looking to earn extra income amid ongoing cost of living challenges. Canadians who are considering starting a side hustle but are concerned about financial or time commitments can take heart that a majority (68%) of Canadian side hustle owners surveyed say launching their side hustle cost them less than $1,000, and over half (58%) report spending under 10 hours a week on their side hustle.
Side Hustler Spotlight: Introducing Kat Velez, co-owner of 2LS Design and Serial Side Hustler Kat Velez, owner of 2LS Design in Nobleton, Ontario, "I think I was born with a 'side-hustle' mentality - I'd describe myself as a bit of a busy-body," said Kat, who in addition to working full-time as a hotel interior designer, also coaches skating and teaches an interior design course at a local college.
Kat's previous experience as an interior designer meant that she could get started right away - she launched her design side hustle with less than $500 and built the interior design section of her business website in a day.
"Design has been my passion for as long as I can remember and I'm grateful that through my side hustle, I can earn extra income doing something I love on my own time and take on as many 'side' projects and clients as I want," Kat added. "The flexibility means I have time for my family, and I can make time for my coaching and teaching commitments which are very important to me."
Among Canadian side hustle owners, offering professional services or expertise like Kat's interior design services is a popular choice, accounting for 24 per cent of respondents across areas like branding and marketing, sales, legal, accounting and tutoring. Self-made products including arts and crafts, clothes, food and beverage, and beauty products were the most popular side hustle offerings, at 26 per cent.
"To Canadians who might be on the fence about starting a side business, I would say: you have more skills and creativity than you think--put yourself out there and you might surprise yourself with how far it'll take you," added Kat.
"At GoDaddy, we believe that the right tools and support can help people create, grow, and manage their business - or side hustle - online in a quick and easy way," said Young Lee, Canada Market Lead for GoDaddy. "Serial side hustlers have a positive impact on communities and the wider economy. It is encouraging to see Canadian entrepreneurs continue to show their creativity and resilience and we're excited to be on this small business journey with them every day."
To learn more about how GoDaddy supports everyday entrepreneurs, visit godaddy.ca.
About GoDaddy GoDaddy helps millions of entrepreneurs globally start, grow, and scale their businesses. People come to GoDaddy to name their idea, build a professional website, attract customers, sell their products and services, and accept payments online and in-person. GoDaddy's easy-to-use tools help microbusiness owners manage everything in one place and its expert guides are available to provide assistance 24/7. To learn more about the company, visit www.GoDaddy.com.
About the GoDaddy Survey Research methodology: Antenna, an independent consumer research agency on behalf of GoDaddy, conducted an online survey of n=527 side business owners in Canada. The survey was conducted between April 14 to April 26, 2023. The survey data collection was national and respondents were sourced using an accredited online research access panel. Data was weighted for representation against country census data.
SOURCE GoDaddy
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