Ask HN: Those making $500/month on side projects in 2021

Re:Ask HN: Those making $500/month on side projects in 2021 ... by tjbiddle on Thursday December 23, 2021 @07:55PM (#29668604)

I don't know if I can even call it a side-project any more. I stopped working professionally 3 years ago.

Bought an e-commerce business that was making ~$2k/mo profit and ran it on the side while I had my DevOps job.

That project has now turned into ~$30k/mo profit, and I've bought two more e-com businesses that average ~$10k/mo between the two - these are early and I expect them to scale up once I smooth out a few bumps.

I go through phases of a lot of work, and next to no work. Depends if I'm busy on growing the businesses or just want to enjoy the income. I'm out of 95% of the day-to-day operations and I have a team of 3 that handle most things.

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by syndacks on Thursday December 23, 2021 @08:07PM (#29668738)

If you don’t mind me asking, what are the e-commerce sites? Also, how does one get into such a business? Were you interested in this space beforehand or did you simply acquire a business that looked promising?

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by jerriep on Thursday December 23, 2021 @11:42PM (#29670290)

In my personal interactions with people in the e-commerce/drop shipping space, the odds of them telling you what they sell is extremely slim. The barrier to entry for anyone else is very low, so once someone has a winning product, they remain very tight lipped about what exactly it is.

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by asdev on Thursday December 23, 2021 @11:48PM (#29670334)

not all e-commerce sites are dropshipping

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by aerovistae on Thursday December 23, 2021 @09:00PM (#29669132)

Seconding the interest in this. Some research showed that SoulCeramics and ZenConcessions are two of the commenter's businesses, but I would love to hear details on how he found them, decided to buy them, and then dealt with operating them. Selling popcorn machines and pottery kilns, such fascinating niches to become wealthy off of.

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by VoodooJuJu on Friday December 24, 2021 @05:24AM (#29672364)

Unfortunately, he won't tell you, because like someone else said, the barrier to entry is so low, that their only real competitive advantage is other people not knowing about the opportunity.

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by Irongirl1 on Monday December 27, 2021 @06:07PM (#29708070)

I'm looking at this course from ryan kulp:

https://www.microacquisitions.com/how-to-buy-small-companies

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by 999900000999 on Thursday December 23, 2021 @08:32PM (#29668943)

At which point can you just hire someone to manage it and then retire?

I know if I was making that much money via passive income I would never work another day in my life.

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by asdev on Thursday December 23, 2021 @11:50PM (#29670349)

the days of consumer products on autopilot forever is over, requires constant work to continue marketing, website updates etc

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by akyoan on Friday December 24, 2021 @02:11AM (#29671148)

Hiring people is not autopilot. You can hire a CEO for example.

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by AussieWog93 on Friday December 24, 2021 @04:07AM (#29671829)

I think this is one of those things that is easier said than done.

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by aconsult1 on Thursday December 23, 2021 @08:01PM (#29668663)

Have you used any broker for buying a business? How was your experience? If you care to recommend them please ping me.

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by sagarpatil on Friday December 24, 2021 @11:21PM (#29680360)

I recently sold a business using a broker for $xxx,xxx. DM if any of you are serious and need an introduction.

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by atlgator on Thursday December 23, 2021 @11:44PM (#29670298)

I'm also interested in this.

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by asdev on Thursday December 23, 2021 @11:49PM (#29670339)

interested as well

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by bennysomething on Friday December 24, 2021 @02:31AM (#29671260)

Hi,this sounds amazing. If you have to to post, do you have any advice how what level design f competence is required to analyse a business like these before buying? Also how did you find the businesses.

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by jonwinstanley on Friday December 24, 2021 @05:16PM (#29678297)

Where did you buy the site? I’ve looked at Flippa a few times and there’s never anything there that I trust enough to part with my money for

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by 97-109-107 on Tuesday December 28, 2021 @09:43AM (#29714217)

Can you outline what aspects did you set out to improve for each of the businesses?

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Re:Ask HN: Those making $500/month on side projects in 2021 ... by newusertoday on Friday December 24, 2021 @02:22AM (#29671218)

what are you using for e-com software? woocommerce/home-grown or something else? also what is your review of the software side of it?

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