In-demand Side Hustles That Always Will Be in Demand (Backed by Data)

Ever wondered which in-demand side hustles will stand the test of time?

Let’s dive into the world of enduring business opportunities that have proven their worth over decades.

These aren’t just flash-in-the-pan ideas; they’re solid, data-backed ventures that have weathered economic storms and technological shifts.

I’ve scoured New York City, a hub of long-standing businesses, to bring you insights on seven enterprises that have not only survived but thrived for generations.

By examining these success stories, we can uncover valuable lessons for aspiring entrepreneurs looking to start their own in-demand side hustles.

So, buckle up as we embark on a journey through time and business acumen, exploring the secrets behind these evergreen side gigs and how you can apply their strategies to your own ventures.

We strongly recommend that you check out our guide on how to take advantage of AI in today’s passive income economy.

The Lindy Effect: A Blueprint for Enduring Success

Understanding the Lindy Effect

The Lindy Effect is a fascinating concept that suggests the longer something has been around, the more likely it is to stick around even longer.

This principle applies remarkably well to businesses.

While it’s true that about 20% of new businesses fail within their first year, those that make it past the decade mark have a much higher chance of continued success.

This data-backed phenomenon provides a solid foundation for identifying in-demand side hustles that are likely to remain profitable for years to come.

Lessons from Long-standing Businesses

By studying businesses that have stood the test of time, we can glean valuable insights for our own entrepreneurial endeavors.

These long-standing enterprises have weathered economic downturns, technological revolutions, and shifting consumer preferences.

Their ability to adapt and evolve while maintaining their core offerings is a testament to their resilience and relevance.

As we explore these businesses, we’ll uncover strategies that can be applied to various in-demand side hustles, ensuring longevity and profitability in your chosen venture.

Eyewear: A Visionary Business Model

The Moscot Story: From Pushcart to Premium Brand

Moscot, founded in 1899, began as a humble pushcart vendor in New York’s Lower East Side.

Today, it stands as a testament to the enduring nature of the eyewear industry.

This transformation from a small-scale healthcare provider to a renowned retailer and e-commerce brand showcases the potential for growth and adaptation within this sector.

The eyewear market, projected to reach $215 billion by 2025, offers ample opportunities for in-demand side hustles.

Eyewear as a Sustainable Side Hustle

The eyewear industry’s resilience stems from its dual nature: addressing both medical needs and fashion preferences.

Prescription glasses will always be necessary for vision correction, while sunglasses remain a staple for sun protection and style.

This combination of necessity and fashion makes eyewear an attractive option for those seeking in-demand side hustles.

The industry’s stability is further evidenced by the fact that nearly 90% of sales still occur in brick-and-mortar stores, highlighting the importance of physical presence in this market.

Strategies for Success in the Eyewear Market

To thrive in the eyewear industry today, consider these strategies:

1. Focus on premium offerings to maximize profit margins.
2. Develop unique distribution channels to stand out in a crowded market.
3. Collaborate with influencers or celebrities to boost brand visibility and appeal.
4. Offer a mix of prescription glasses and fashionable sunglasses to cater to diverse customer needs.
5. Leverage both online and offline presence to capture a wider customer base.

By implementing these approaches, you can position your eyewear side hustle for long-term success in this evergreen market.

Hospitality: From Hotels to Modern Alternatives

The Algonquin Hotel: A Century of Hospitality

The Algonquin Hotel, established in 1902, exemplifies the enduring nature of the hospitality industry.

Founded by Frank Case, this iconic establishment has weathered numerous changes in the market through innovative marketing strategies and a commitment to unique experiences.

From introducing quirky concepts like a hotel cat to creating buzz with the “$10,000 Martini,” the Algonquin demonstrates how creativity can keep a business relevant for over a century.

Evolving Hospitality: From Hotels to Airbnb

While traditional hotels like the Algonquin continue to thrive, the hospitality industry has seen significant evolution with the rise of platforms like Airbnb.

This shift represents a modern approach to one of the most in-demand side hustles: short-term rentals.

The key to success in this space lies in creating unique, memorable experiences for guests, much like the Algonquin did in its heyday.

Strategies for Success in Modern Hospitality

To capitalize on the hospitality industry as an in-demand side hustle, consider these approaches:

1. Start small with a single Airbnb property and gradually expand.
2. Focus on creating “Instagram-worthy” spaces that encourage social media sharing.
3. Offer unique amenities or themes to differentiate your property from others.
4. Prioritize excellent customer service to build a loyal client base.
5. Stay adaptable and open to evolving your offerings based on market trends.

By following these strategies, you can build a successful side hustle in the ever-growing hospitality sector, tapping into the same principles that have kept businesses like the Algonquin thriving for over a century.

Food and Beverage: Delicacies and Delights

William Poll: A Century of Culinary Excellence

William Poll, established in 1921, stands as a testament to the enduring appeal of specialty food businesses.

This Upper East Side deli has thrived for over a century by focusing on European delicacies and creating its own unique product line.

The success of William Poll demonstrates how in-demand side hustles in the food industry can stand the test of time when they focus on quality, uniqueness, and brand recognition.

Strategies for Success in Specialty Foods

To create a thriving food-based side hustle inspired by William Poll’s success, consider these approaches:

1. Develop a signature product line to build brand recognition.
2. Focus on high-quality, pre-made foods for convenience and consistency.
3. Utilize a small storefront combined with a robust e-commerce platform.
4. Create partnerships with local grocery stores for wider distribution.
5. Emphasize the local and artisanal nature of your products to appeal to discerning customers.

The Bar and Nightclub Scene: Lessons from The Ear Inn

The Ear Inn, dating back to 1817, offers valuable insights into the bar and nightclub industry.

Despite being a highly competitive and often volatile market, The Ear Inn has survived by adapting to changing times while maintaining its historic charm.

This longevity in the $247 billion bar industry demonstrates the potential for in-demand side hustles in this sector.

Modern Approaches to Bar Ownership

For those interested in entering the bar industry as a side hustle, consider these innovative strategies:

1. Create pop-up bar experiences to test concepts with minimal investment.
2. Partner with influencers or celebrities for themed events to drive traffic.
3. Focus on creating unique, shareable experiences that encourage social media promotion.
4. Offer a rotating selection of craft beverages to keep the menu fresh and exciting.
5. Host special events or themed nights to attract diverse crowds throughout the week.

By applying these strategies, you can tap into the enduring appeal of bars and nightclubs while minimizing the risks associated with traditional ownership models.

Construction and Real Estate: Building a Solid Foundation

John Gallin & Son: Constructing a Legacy

John Gallin & Son, founded in 1886, exemplifies the enduring nature of the construction industry.

This family-owned business has survived seven generations by adapting to changing market needs and focusing on specialized trades.

The construction industry, valued at $2.1 trillion, offers numerous opportunities for in-demand side hustles, particularly in niche markets.

Strategies for Success in Modern Construction

To enter the construction industry as a side hustle, consider these approaches:

1. Focus on specialized trades like HVAC, plumbing, or electrical work.
2. Target niche markets, such as startup office buildouts or sustainable construction.
3. Develop a strong online presence with a portfolio showcasing your unique style.
4. Invest in ongoing education to stay current with industry trends and technologies.
5. Build strong relationships with suppliers and subcontractors to ensure quality and efficiency.

By implementing these strategies, you can carve out a successful niche in the ever-evolving construction industry, much like John Gallin & Son has done for over a century.

Retail and Marketing: Lessons from Macy’s

Macy’s: A Marketing Powerhouse

Macy’s, established in 1924, has transformed from a dry goods company into a retail giant through innovative marketing strategies.

Their success demonstrates how in-demand side hustles in retail can thrive by focusing on creative marketing approaches rather than just product sales.

Modern Retail Strategies for Side Hustles

To apply Macy’s marketing genius to your retail side hustle, consider these strategies:

1. Create engaging content that serves as indirect advertising for your products.
2. Use social media to involve your audience in the product development process.
3. Implement pre-order systems to gauge demand before full production.
4. Document your business journey to build a connection with your audience.
5. Focus on creating unique, attention-grabbing products that generate buzz.

By adopting these approaches, you can build a retail side hustle that stands out in a crowded market, much like Macy’s has done for nearly a century.

Conclusion: Timeless Principles for In-demand Side Hustles

As we’ve explored these long-standing businesses, we’ve uncovered several timeless principles that can guide your journey into in-demand side hustles:

1. Focus on what hasn’t changed: Identify core human needs and preferences that have remained constant over time.
2. Adapt and evolve: While maintaining your core offering, be willing to adapt your methods and expand your services to meet changing market demands.
3. Create unique experiences: Whether in retail, hospitality, or food service, focus on creating memorable experiences that set you apart from the competition.
4. Leverage both tradition and innovation: Combine time-tested practices with modern technologies and marketing strategies.
5. Build strong relationships: Whether with customers, employees, or partners, strong relationships are key to long-term success.

By applying these principles to your chosen side hustle, you can increase your chances of building a business that not only survives but thrives for years to come.

Remember, the most successful in-demand side hustles are those that provide consistent value while remaining adaptable to change.

So, take inspiration from these century-old businesses, apply their wisdom to your modern venture, and who knows?

Your side hustle might just become the next 100-year success story.

We strongly recommend that you check out our guide on how to take advantage of AI in today’s passive income economy.