If there are two things that have become incredibly popular over the last three years, it’s TikTok, and side hustles. So when the two get together, it’s definitely something to pay attention to.
There have been multiple viral side hustles coming across the social media service, but yet another recently went viral. And it’s perhaps one of the best yet.
Invest in… a bouncy castle?
TikTok user @julie.ache posted about purchasing an all-white bounce castle back in 2021. Since the post came out, it has collected 2.8 million views from users also interested in the side hustle.
According to the TikToker, she used her stimulus cheque (offered in the United States up to around $2,000) to purchase the bounce house during the pandemic.
“I invested my stimulus on a White Bounce Castle,” she said in the caption overtop of her white bounce castle. “Made my money back in one month.”
How much could she make from this side hustle?
If you’re thinking of picking up a similar side hustle, remember one thing: we live in Canada. It’s unlikely someone is going to be asking to rent a bounce castle when it’s -20 degrees celsius outside. However, if this TikToker lives in a location with year-round sunshine, she could get rich fairly quickly.
So let’s say she’s renting it out for about $300 per session on weekends. That’s $600 per weekend, meaning if she paid $2,400 for the castle, it’s paid back within a month.
From there, besides maintenance that would really come down to cleaning, everything else is profits. So for the remaining 11 months of the year at $2,400 per month, she could have a total of $26,400! Not a full-time gig, sure, but still a huge increase to her annual paycheque.
If you’re thinking of a similar passive income generator, simply rent out seasonal products you potentially already own! It might be Christmas decorations, a canoe, a boat, or other items. Again, you could make a similar amount. But what makes the opportunity even better is by investing it in a stable stock.
An option to consider
One stock I would consider is Teck Resources (TSX:TECK.B) for stable income. Teck stock offers growth through its investments in basic materials. Whether it’s copper or coal, the company invests in it. This diversified range of assets therefore brings in strong income throughout the year, and will be around for decades.
That being the case, every cheque you earn from this side hustle could be placed into Teck stock. Shares are up 54% in the last year, and it offers a 0.92% dividend yield. Here is what could happen if you put that $26,400 towards Teck stock and shares climbed that amount once more.
COMPANY | RECENT PRICE | NUMBER OF SHARES | DIVIDEND | TOTAL PAYOUT | FREQUENCY | PORTFOLIO TOTAL |
TECK.B – today | $54.50 | 484 | $0.50 | $242 | quarterly | $26,400 |
TECK.B – 54% growth | $83.93 | 484 | $0.50 | $242 | quarterly | $40,622.12 |
After that investment, you could have $242 in dividend income, along with $40,622.12 in your portfolio. That would be total returns of $14,464.12 from your bouncy castle investment!