Yahoo Finance 5 Celebrity Side Gigs To Consider
A recent MarketWatch survey revealed that 54% of Americans have taken on a side hustle for extra income in the past 12 months. Of those, 57% did so to supplement their income because they were living paycheck to paycheck before taking on a side gig.
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But it’s not just lower- and middle-income people who struggle to pay the bills that seek to diversify their income streams. Dozens of celebrities have expanded beyond acting, sports, or music careers to open a side business.
You most likely won’t run into a famous performer delivering groceries for Instacart or driving an Uber. Instead, these high-net-worth celebrities invest money to launch brands, revitalize older buildings, or write books.
Are they profitable? In general, are side gigs worth the average person’s time? As with any investment, it depends. Celebrity business owners are just like any other entrepreneur — sometimes they succeed and sometimes they lose money.
Let’s look at some examples of celebrity side gigs you might want to consider turning into a second income or even a full-time business.
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Comic Book Shop
Filmmaker and actor Kevin Smith purchased Jay and Silent Bob’s Secret Stash, a comic book shop in Smith’s hometown of Red Bank, New Jersey, in 1996. The store is named after two characters from Smith’s first movie, Clerks, as well as other films in Smith’s “View Askew” universe.
Smith is worth $25 million, according to CelebrityNetWorth.com, but there are no details about how much money the comic book shop makes for Smith. In 2020, Smith paid off all the “pull lists” — sort of like layaway for comic book enthusiasts — at the store, enabling fans to receive the books they wanted while using their cash to pay for necessities during the pandemic, MovieWeb.com reported.
Candy Store or Bakery Owner
Avengers actor Paul Rudd and his wife Julie, along with Jeffrey Dean Morgan of Supernatural and The Walking Dead fame, plus his wife Hilarie Burton Morgan of One Tree Hill, purchased Samuel’s Sweet Shop in the village of Rhinebeck, New York, in 2014 to save the shop after owner Ira Gutner passed away.
Similarly, actress Sandra Bullock purchased Walton’s Fancy and Staple in Austin, Texas, a flower shop, deli, and bakery with a friendly, local vibe. In both cases, the real estate investment might be worth more than the store, itself; the celebrity owners purchased the stores to preserve a piece of local history.
Bullock told the Austin American-Statesman, “The acting is to fund what I do here in Austin… In the end, I might not make a dime… But look at what we’ve done to this building. That’s an investment and payoff all on its own.”
Restaurant/Bar/Coffee House Owner
Many celebs go into the hospitality industry, from Jimmy Buffett and his Margaritaville chain of restaurants, hotels, and resorts, to Bruce Willis and Sylvester Stallone, who co-own Planet Hollywood restaurants.
Financial success in these endeavors vary, as does the level of involvement for superstar owners. Donnie and Mark Wahlberg, along with their brother Paul who is a professional chef, launched Wahlburgers as a fast-casual burger chain. With 90 locations across the world, the restaurants bring in $105 million in annual revenue, according to Zippia.com.
Mark Wahlberg earned a $40,000 franchise fee and 6% of profits for every new franchise location, making it a lucrative side gig.
Beauty or Fashion Brand Entrepreneur
Many celebrities step into a side gig doing what they know best, from beauty to fashion. Jennifer Lopez launched JLO Beauty, a line of skin care and anti-aging products to help other women retain their ageless beauty like the singer and actress has.
Superstar songstress Rihanna launched the beauty line Fenty, an original brand under the luxury LVMH banner.
Kate Hudson is a co-founder and partner in the fitness fashion brand Fabletics. Zippia reported the revenue for the brand at $500 million in 2023, making Hudon’s 20% ownership stake in the company quite profitable.
Children’s Book Author
The shelves of Barnes & Noble children’s section are stocked with books penned by names you might recognize, even if your children don’t.
Famous children’s book authors include performing artist and international icon Madonna, talk show host Jimmy Fallon, actress Jamie Lee Curtis, and Grammy-winning singer Kelly Clarkson.
With low start-up costs, a side hustle as a children’s author may be attainable to anyone with a vivid imagination and a story to tell. However, don’t expect to make millions off this side gig. ZipRecruiter.com reported the average children’s book writer earns roughly $24 an hour.
Should You Take on a Side Gig?
If you have money to invest, you might explore some “passion project” side gigs of your own. However, if you don’t have a lot of money to cover start-up costs, consider one of these 16 side gigs you can launch to generate passive income.
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