In recent years, the concept of the “side hustle” has gained popularity as people seek to supplement their income or pursue their passions outside of their main job. One recent survey from the CV Library found that 58.2% of UK workers plan on taking on a side hustle in 2023, some driven by the cost of living crisis, while others are leveraging online earning opportunities. 

In this article, we’ll be exploring the rise of the side hustle and how your under-utilised outdoor sports kit could become a profitable small business.

Side Hustles in the UK

What is a side hustle? 

A side hustle is defined as, ‘work performed for income supplementary to one’s primary job’. 

The side hustle has been on the rise since the earliest days of the internet. With unlimited digital visibility at their fingertips, workers can now use e-commerce platforms like Etsy and Amazon, social media platforms like TikTok and Instagram, and sell digital products such as online courses and e-Books to supplement their income with ease. In contrast to taking out a loan to fund startup overheads, many side hustles have small startup costs and low-risk investments. 

What triggered the sudden growth of side hustles?

While the ease of setting up a supplementary business contributes to the rise, it is not the primary cause. The global economic situation has led to an increasing number of people looking for ways to make more money. 

The Coronavirus pandemic from 2020-2022 saw many use their additional time at home to start businesses. According to Aviva, 61% claim their side hustle is due to the pandemic, with 30% stating it was to help ‘make ends meet’, while 39% said they used the pandemic as an opportunity to earn money from a hobby. 

In 2023, the cost of living crisis is the primary reason for side hustles, with over 60% looking for ways to earn money alongside their main job. 

What are the most popular side hustles in the UK?

In the UK, there are a number of popular side hustles that people engage in to supplement their income. According to Kindroom via Huffington Post, some popular side hustles include renting out their driveway (70%), renting out a room (64%), renting storage space (39%) and house-sitting/dog-walking (16%).

The Power of Peer-to-Peer Rental Platforms

Peer-to-peer rental platforms, such as Airbnb, Uber and ByRotation, have revolutionised the way people think about renting and owning goods. Instead of letting valuable assets sit idle and gather dust, individuals can now monetise them by renting them out to others through these platforms. 

Advantages of peer-to-peer rental platforms

Peer-to-peer rental platforms offer several benefits for owners, renters, and broader society. Firstly, the owners can monetise their unused assets and generate extra income without having to sell their items outright. This means they have the potential to earn back the cost of the item, enabling them to essentially use it for free. 

Renters, on the other hand, have access to a wider variety of goods at more affordable prices than traditional rental services. 

Finally, rental platforms support the environment, encouraging a circular economy and combating the rise of the ‘throwaway society’. This supports global sustainability initiatives and reduces waste in the long term. 

How to choose a peer-to-peer rental platform for you 

With peer-to-peer rental platforms on the rise, you might be wondering where to start when it comes to renting out your items. If you’re into your fashion, a platform like HURR or By Rotaton could be a great place for you to earn money from your desirable wardrobe. If you have a spare room or apartment, or if you live in an attractive location, you might be able to get started on Airbnb. Consider what assets you have that others might want to use and look for a rental platform to host your items.

If you’re an outdoor sports lover, our platform KitUp could be for you. Specialising in outdoor sports adventure equipment, such as paddle boards, bikes, and ski gear, KitUp provides outdoor adventurers the opportunity to earn a side income from their under-utilised kit. 

What is KitUp?

How KitUp works

KitUp is a UK-based peer-to-peer rental platform that enables individuals to rent out their outdoor sports equipment, such as paddleboards, surfboards, and bikes, to other users. 

To get started with KitUp, owners simply need to create a listing for their sports equipment, including details such as availability, hire price, and pick-up/drop-off locations. 

Renters can then search for equipment in their desired location, view owner ratings and reviews, and request a rental. Owners have the ability to approve or deny rental requests and can coordinate pick-up and drop-off details with renters through our messaging system. 

The types of outdoor sports kit you can rent out

Outdoor kit on KitUp falls into the following categories; Paddle, Surf, Bike, Snow, Trail, Kids and Camp. KitUp’s core values are focused on making outdoor sports accessible and affordable, so we encourage hosts to be considerate when choosing a price for their items.

Tips for a Successful Side Hustle with KitUp

Best practices for renting out your outdoor kit on KitUp

Renting out your outdoor sports equipment can be a great way to earn extra income, but it’s important to follow some best practices to ensure a positive experience for both you and the renters. 

First and foremost, KitUp asks you to ensure that your equipment is in good condition and meets any safety standards or regulations. Take clear and accurate photos of your equipment and provide detailed descriptions in your listings to help renters understand what they’re getting. Consider providing any necessary accessories or equipment, such as locks or helmets, to ensure renters have everything they need for a safe and enjoyable experience. Read more recommendations here.

While use instructions aren’t a requirement, it could be worthwhile providing support or tips on how to use the equipment, especially for more specialized outdoor kit such as paddleboards or kayaks. 

Get started on KitUp today

Ready to start your side hustle, earning money from your outdoor sports equipment and helping others enjoy the outdoors? Get on board with KitUp. It takes under 5 minutes to create your account. 

Click here to create your account today.