Am I DUMB For Creating This Side Business as a Teacher?
In my previous post, I said that I was going to talk about a side business that I started to increase my income as I head towards retirement. The side business I chose is DEFINITELY not the easiest one because it is considered a very physically demanding job. I started an auto detailing side business! At first, I wanted to create a product to sell that wouldn't require me to do any "physical" work, but I quickly realized that I didn't really know what to offer. What I did know was that I had the tools, space, and desire for working with vehicles AND a little bit of OCD that makes cleaning things soothing to me. It also pays a decent amount for the work that I do.
These are just SOME of the pieces of equipment that I had to buy.
Like any business, there were some up-front costs that I had to pay for. I had to purchase some equipment and supplies to allow me to handle the dirtiest vehicles. I had to set up an LLC with the state to make it an official business. I spent roughly $1,500 to buy all the the equipment to start. This was drag to go backwards financially, but sometimes you have to take one step back to go two steps forward. When I first started, I was charging a minimal amount to get vehicles scheduled, but after a year of working, I am now able to up my prices to make these details worth my time. That was a very tough lesson for me to learn. I didn't want to overcharge, but I also needed to realize that by undercharging, some people actually believed it wasn't a service that was worth paying for. Now that I am charging more, I actually have MORE people calling to schedule details.
Detailing is an enjoyable but physically demanding side-hustle.
The other part of this journey that I want to mention is that I have had to do a LOT of learning as I go. There are many different procedures and machines and chemicals that can be used in the process, so I turned to the greatest teaching tool available, YouTube. Not only did I turn to YouTube to LEARN, but I also turned to YouTube to EARN. You see, there are many YouTube channels dedicated to detailing cars, so I created one of my own to document my progress. Some detailing channels are teaching channels that show you how to detail cars. Others are considered entertainment channels that just show the process of taking a car from filthy to fabulous. I would consider myself an entertaining channel with a little bit of teaching mixed in. The YouTube journey has been far more difficult than the detailing journey. YouTube is a VERY tough place to break into. I've been uploading videos for about a year, and I just met the requirements to actually earn any money just about one month ago. After one month, I've earned a whopping $21. That might sound like a lot of work for $21, and it is, but YouTube is a long game. It can take 3-5 years for a channel to really take off and earn a decent income. I will create a post in the future about what I've done to create my videos. If you're interested in checking out the channel and the videos, it is linked here.
So, has it been worth it? At this point, I would say absolutely yes. Have I made a decent amount of money to save and invest for the future? No. I have probably broken even at this point, but now that I have an established base and equipment set up, going forward any money that I bring in past my expenses for cleaning supplies will go right into my investment accounts, specifically index funds and dividend stocks because like we always say on this channel... KEEP STACKIN!
So, has it been worth it? At this point, I would say absolutely yes. Have I made a decent amount of money to save and invest for the future? No. I have probably broken even at this point, but now that I have an established base and equipment set up, going forward any money that I bring in past my expenses for cleaning supplies will go right into my investment accounts, specifically index funds and dividend stocks because like we always say on this channel... KEEP STACKIN!
