A recent MarketWatch survey revealed that 54% of Americans have taken on a side hustle to boost their income in the past 12 months, and of those, 57% said they started a side hustle to supplement their income because they were living payday to payday before starting their side hustle.
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But it's not just low- and middle-income earners struggling to pay the bills who are looking to diversify their income streams: Dozens of celebrities have started side hustles beyond their acting, sports and musical careers.
You're unlikely to find famous performers delivering groceries for Instacart or driving for Uber. Instead, these high-net-worth celebrities are investing their money into starting brands, revitalizing old buildings, writing books, and more.
Is it profitable? In general, are side hustles worth the average person's time? Like any investment, it depends. Celebrity business owners are just like any other entrepreneur, they can be successful or they can lose money.
Let's take a look at some examples of celebrity side hustles that you might want to consider as a second source of income or even a full-time job.
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Comic Shop
Film director and actor Kevin Smith purchased a comic book store, Jay & Silent Bob's Secret Stash, in Smith's hometown of Red Bank, New Jersey in 1996. The store was named after two characters who appear in Smith's first film, Clerks, as well as other films in Smith's “View Askew” universe.
According to CelebrityNetWorth.com, Smith is worth $25 million, but there are no details available about how much money the comic book store makes him. MovieWeb.com reported that in 2020, Smith paid off the store's “pull list” (a sort of layaway for comic book lovers) so fans could pick up the books they wanted while using cash to buy necessities during the pandemic.
Candy shop or bakery owner
Avengers actor Paul Rudd and his wife Julie, along with Jeffrey Dean Morgan of Supernatural and Walking Dead fame and his wife Hilarie Burton Morgan of One Tree Hill, purchased Samuel's Sweet Shop in Rhinebeck Village, New York, in 2014 in an attempt to save the store after owner Ira Gatner passed away.
Similarly, actress Sandra Bullock bought Walton's Fancies & Staples, a friendly, local florist, deli, and bakery in Austin, Texas. In both cases, the real estate investment may be more valuable than the store itself; the celebrity owners bought the stores to preserve a piece of local history.
“Acting is a way to help fund our operations in Austin… At the end of the day, we may not make a penny… but look what we've done to this building. That's an investment and a reward in itself,” Block told the Austin American-Statesman.
Restaurant/Bar/Coffee House Owner
From Jimmy Buffett and his chain of restaurants, hotels and resorts, Margaritaville, to Bruce Willis and Sylvester Stallone, who co-own Planet Hollywood restaurants, many celebrities have gone into the hospitality industry.
These ventures have had varying degrees of financial success and involvement from their superstar owners. Donnie and Mark Wahlberg, along with their brother Paul, a professional chef, launched the fast-casual burger chain Wahlburgers. With 90 locations worldwide, the restaurants bring in $105 million in annual revenue, according to Zippia.com.
Mark Wahlberg earns a $40,000 franchise fee and 6% of the profits for each new store he opens, making it a lucrative side hustle.
Beauty or fashion brand entrepreneur
Many celebrities are starting side hustles in the areas they do best, from beauty to fashion. Jennifer Lopez launched JLO Beauty, a line of skin care and anti-aging products, to help other women maintain their youthful beauty just like the singer and actress.
Superstar singer Rihanna has launched her own beauty line, Fenty, under the luxury goods group LVMH.
Kate Hudson is a co-founder and partner in fitness fashion brand Fabletics, which Zippia reports will have revenue of $500 million in 2023, meaning Hudson's 20% stake in the company stands to be handsomely lucrative.
Children's book author
The shelves of the children's book section at Barnes & Noble are lined with books written by authors whose names parents know, even if your child doesn't.
Famous children's book authors include performing artist and international icon Madonna, talk show host Jimmy Fallon, actress Jamie Lee Curtis and Grammy Award-winning singer Kelly Clarkson.
The start-up costs are low, and anyone with a vivid imagination and a story to tell can become a children's book author as a side hustle. Don't expect to make millions of dollars from this side hustle, though: According to ZipRecruiter.com, the average hourly wage for a children's book author is about $24.
Should I start a side hustle?
If you have money to invest, you might want to explore a side hustle for your “passion project,” but if you don’t have enough money to cover the start-up costs, consider one of these 16 side hustles you can start to generate passive income.
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This article originally appeared on GOBankingRates.com: 5 Celebrity Side Hustles to Consider
