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Welcome back, fellow parent

This week I’m covering a sure-fire way to grow your wallet: your career.

Today's newsletter is being sponsored by Hungryroot! To celebrate, I'm covering some of the top and most obscure ways to make money with food. 

The TL;DR

I get it - we’re all busy trying to keep other humans alive. Here are the key takeaways from today’s newsletter:

• Food businesses are on the rise with food delivery expected to grow on average ~9.5% YoY through 2029.

• Food side hustles are super flexible, allowing you to work on your own schedule.

• Cooking Classes have the highest ROI, but Food Trucks still rake in some serious cash.

• Did you know you can make money selling fake wishbones? Apparently there’s a market for vegans who still want to participate in the Thanksgiving tradition.

Why Start a Food-Related Side Hustle?

Summer is knocking on our doors and it's the perfect time to dive into some profitable and fun food-related side hustles. 

Food-related side hustles are not only lucrative but also offer a creative and engaging way to earn extra income. According to Statista, food delivery alone is expected to grow ~9.5% each year through 2029​.

Here are a few more reasons to start a food related side hustle (other than your love for food):

• High Demand: Food is a universal need, and there's always a market for innovative and quality offerings.

• Flexibility: Many food businesses, such as food trucks or catering services, offer flexible hours that can fit around your busy schedule.

• Creativity: These ventures allow you to express your creativity through unique recipes and presentations.

• Community Engagement: Food businesses often become an integral part of the community, offering a chance to connect with others.

Top 5 Profitable Food-Related Side Hustles

There are countless ways to make money based on food nowadays. From my research, here are my top five based on your return on investment.

1. Food Truck

• Investment: $50k+

• Annual Revenue: $250k - $500k

• Why It Works: Food trucks offer the flexibility to move to high-traffic areas and events, maximizing exposure and sales. Unlike traditional restaurants, they come with lower startup costs and the freedom to experiment with diverse menus. Plus, who doesn't love a good food truck?

2. Ice Cream Cart

• Investment: $2k+

• Annual Revenue: $30k - $60k (seasonal)

• Why It Works: This is a great summer side hustle - with the heat brings customer demand for something cold and sweet. If you can land a prime location such as a park, beach, or event space, you can bring in some serious cash. Offering unique flavors or catering to dietary preferences like vegan options can set you apart.

3. Meal Kits

• Investment: $10k+

• Annual Revenue: $100k - $300k

• Why It Works: Meal kits cater to busy families who want to cook at home without the hassle of shopping and prepping. They offer convenience and quality, with the potential for recurring revenue through subscriptions. 

• One to consider is our sponsor today, Hungryroot! Click below to learn more - you aren't obligated to purchase anything by clicking on the below.

Goodbye Meal Kits, Hello Hungryroot

Hungryroot is a grocery and recipe delivery service that supports any health needs you and your family might have. Whether you’re looking to incorporate a gut-friendly diet, just trying to eat healthy, or anything in between, Hungryroot makes achieving your goals on your terms easy.

Browse the thousands of groceries and recipes available each week, or have Hungryroot curate a delivery made just for you and your family based on your preferences. Save hours planning, shopping, and cooking each week. Plus pick one free item for life.

Take the quiz and get 30% off your 1st order!

4. Cooking Classes

• Investment: $1-$5k

• Annual Revenue: $50k - $150k

• Why It Works: If you can cook and have some people skills, I'd consider conducting cooking classes. They can be conducted online or in-person, making them highly scalable. They're surprisingly hard to find, especially in smaller areas, making this a great way to grow in an untapped market.

5. Personal Chef Services: 

• Investment: $500 - $5k

• Annual Revenue: $30k - $100k

• Why It Works: Again, if you have some people skills on top of being able to cook extremely well, consider being a personal chef. While you can turn this into a full-time gig, there are many part-time opportunities to make some extra cash. Personal chefs provide tailored culinary experiences for families and special events, catering to specific dietary needs and preferences. This personalized service can command premium pricing.

5 Obscure Food-Related Side Hustles

I couldn't help but do a deeper dive into some of the more obscure food-based businesses out there. The five below are all pretty niche markets, but the customers are extremely loyal meaning there's ample opportunity to make a few extra bucks if you deliver well.

1. Edible Cookie Dough

2. Candied Fruit

3. Holiday Cookie Delivery

4. Gourmet Pet Treats

5. Fake Wishbones (think plastic wishbones for Thanksgiving games)

Happy Hustling! 

I hope the above food-related businesses inspire you to start a new side hustle this year. If you do, make sure to reach out, I'd love to feature you in an upcoming newsletter.

Click below to read more about food-related side hustles, including tips on starting and a few fun examples.

Question of the Week 🤔

What are you doing this summer to make or save more money?

Hit reply, I’d love to hear more.

Money News 🤑

1. Researchers at the University of Chicago successfully used AI to outperform human analysts with stock market predictions based strictly on quantitative data. While not perfect, this will likely lead to shifts across the investing and financial advising space, as AI powered “experts” may start to replace their human counterparts.

2. Brands are finally catching on that customers are struggling financially and many are taking action. Target recently announced they’re cutting costs on ~5,000 items, including household staples such as coffee, milk, and meat. It’s no all self-less though, higher cost brands such as Target are having trouble retaining their customers and their using this tactic as a way to get shoppers to return to their stores. Classic pricing strategy.

3. Red Lobster has officially filed for bankruptcy. And apparently “endless shrimp” was one of the key drivers behind their demise. Long story short, they cut two of their three suppliers and so when the “endless shrimp” promotion was live, they were hit with a much higher cost from their remaining supplier. There’s much more to the story behind their bankruptcy filing, and they’ll likely get bought out and restructured, but changes are coming.

Thank You for Reading

Thanks again for reading. Drop me a note with what’s on your mind, I’m here to help.

Talk soon,

The Dollar Dad

P.S. If you’re considering starting a newsletter or blog this year, I’d highly recommend Beehiiv (use my link for 20% off any paid plan for 3 months). Drop me a note if you need help getting started or growing your business.

P.S.S. As a heads up, the above link for Beehiiv is an affiliate link. If you make a purchase using the above link, I’ll receive a commission at no extra cost to you.