Pharmacist Side Hustle ideas (that works)
If you’re a pharmacist who’s interested in personal finance then you’ve probably have heard of a side hustle. A pharmacist side hustle is anything that you’re doing on top of your full-time pharmacist job in order to earn additional income.
I think it is a growing trend amongst millennials who wanted to pad their savings for investments or working toward retirement.
This trend is probably started with the idea of FIRE (financial independence, retire early). While I’m not a big proponent of this movement, I’m adopting a few good ideas from FIRE practitioners. A side hustle is one of them. Here is a list of the top ten side hustles that any pharmacists can start today!
Blogging is a good way for pharmacists to get started on a side hustle. After starting this blog for a month now, it is not easy work but doable. I have seen successful pharmacist blogs that turned into businesses such as the Happy PharmD, Your Financial Pharmacist and Med Ed 101. Do you have what it takes to start a blog today?
You can start a blog as a hobby and hopefully one day it will turn into a side hustle? You will never know until you try!
Bakery business from home
My wife recently started baking from home business. If your talent is making delicious cupcakes, and your family loves your deserts? Take it up a notch and start your home baking business. All you need is a food and safety certificate, a website or a Facebook page and you can be on your way to making some serious cash! My wife makes anywhere from $10 to $60 from her weekly orders. While these amounts are not much, it does bring joy and satisfaction to my wife.
You don’t necessarily need a website. I know of an acquaintance who operated her home baking business entirely on Facebook.
Landlord, property rental (s)
Buying an investment single family home, condo or any rental property is a highly recommended way to get passive income. In fact, if you are aggressive, you can own multiple rental properties and be on your way to financial independence.
Restaurateurs or franchiser
Being a restaurant owner has been a dream of mine for a while now. However, owning a restaurant will require a lot of time and effort. I don’t know if I will ever be involved. in one. But if you have the entrepreneur spirit then you’re more than welcome to try.
Passive income streams
Pharmacists can generate passive income through many different ways-such as index funds, ETFs, real estate investment trusts, real estate crowdsourcing, etc…The opportunities are endless.
Publising Ebook or Books
It may take a good amount of time to get going but a well-written book or Ebook generates passive income for years to come. Pharmacists can utilize their pharmacotherapy expertise and other knowledge and earn passive income.
Some examples includes:
- Seven Figure Pharmacist
- Med Ed 101’s BCPS review book
Gig economy (think Uber, Lyft)
Do you think pharmacists earn too much money to be driving an Uber? Well think again, you can earn serious money by participating in the gig economy. See Financial Panther‘s blog and see how he did it!
I know pharmacists are busy but how about participating in the gig economy? Since I have started following the Financial Panther blog, I discovered that it is a TON of side jobs you can participate in during your downtime.
You can deliver food on your bike via Postmate, Uber Eats, Favor, GrubHub, Doordash or Waitr apps.
Drive people around on a Uber or Lyft. Walk dogs via Wag or dog-sit via Rover, the list goes on and on.
If you have experience in building websites using popular open source software such as WordPress or Xoomla you can earn upwards of $300 or more per job.
Selling things on Amazon, Ebay or Facebook
You’d be amazed at how many things you have accumulated over the years. Instead of throwing it away or giving it away-you can recuperate a portion of the cost by offering those items for sale on popular online marketplaces.
My wife started a YouTube channel and we’re having modest success. Starting in 2018, in order to earn money from YouTube, you have to have at least 1,000 subscribers and 4,000 hours of watch time. This is a hard requirement but also doable.
Aside from the list I mentioned above, I’m discovering more and more things pharmacists can do as a side hustle.
If you’re a bilingual pharmacist you can definitely use this skill to your advantage. There are plenty of positions available to you as an interpreter, especially if you have a medical background.
When was the last time you brushed up on your resume or CV? Need help? Luckily there are pharmacists who specialize in just that. Professional resume and CV writers charge various fees for their services. There is probably a huge demand for that right now as pharmacists are always looking for new opportunities.
Additionally, there is a growing field of remote data entry jobs for pharmacists. You can work from home and not have to worry about interactions with those annoying customers!
Lastly, you can generate additional income by leveraging your status as a pharmacist by participating in a multi-level-marketing company. I have seen a few colleagues of mine dabble as a consultant for a cosmetic MLM, world financial group or a host of other MLM platforms out there.
Or you can check out That Frugal Pharmacist’s post on MLM here.
Personal confession. While I didn’t participate in an MLM company myself, my wife did. After our MLM experience, let’s just say I am less than thrilled hearing about another MLM opportunity.
While MLM is not for everyone and half of participants will drop out as soon as they join. Maybe you have what it takes to make multi-level marketing work for you?
Want more pharmacist side hustle ideas?
More side hustle ideas for pharmacists:
- Attention pharmacists: What about a side hustle?
- Side hustles for pharmacists
- 53 Side Hustles Any Pharmacist Can Easily Start
- Side hustles for pharmacists
- Do you need a side hustle or a budget?
- Work at home jobs for pharmacists
- Side Hustles, Blog Income and Freelance
- Pharmacist with a side hustle, part 1
- Pharmacist with a side hustle, part 2
- Pharmacists with a side hustle, part 3
- 14 practical ways to make extra money as a pharmacist in 2019
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