The Ultimate Guide to Gen Z/Y Side Hustles and Entrepreneurship 2024

The Rise of Young Entrepreneurs

Generation Z and young millennials are revolutionizing the concept of work. Unlike previous generations, today's young entrepreneurs don't wait for traditional career paths – they create their own opportunities. With the rise of digital platforms and innovative financial solutions like neobanks, starting a business has never been more accessible, even for teenagers.

Banking for Young Entrepreneurs

Modern entrepreneurship requires modern banking solutions. Traditional banks often have age restrictions and complex requirements, but innovative neobanks like Slash are changing the game. Starting from age 13, young entrepreneurs can open business accounts, making it easier to manage their side hustles professionally. These neobanks understand the unique needs of Gen Z entrepreneurs, offering features like:

• Early account access (from age 13)
• Digital-first experience
• Built-in business tools
• Simplified banking interface
• Invoice generation
• Business expense tracking

Top Side Hustles for 2024

1. Content Creation and Livestreaming

Twitch

• Gaming content
• Just Chatting streams
• Creative streams
• Earnings: Subscription ($2.5-$12.50/sub), bits, donations

YouTube

• Long-form content
• YouTube Shorts
• Live streaming
• Earnings: Ad revenue, channel memberships, Super Chat

TikTok

• Brand collaborations
• Short-form content
  
• TikTok Live
  
• Creator Fund
  
• Brand collaborations
  

Instagram 

• Reels
• Instagram Live
  
• Sponsored posts
  
• Affiliate Marketing

OnlyFans/MyM 

• Subscription-based content
• Exclusive content creation
  
• Direct creator-fan interaction
  
• Custom content requests
  

2. Newsletter Creation (Substack)

• Paid subscriptions
• Niche content development
• Community building
• Typical earnings: $5-$50 per subscriber annually
• Popular niches: Tech, Finance, Culture, Gaming

3. Reselling Businesses

Sneaker Reselling (Cook Groups)

Common Aliases:

• Cooking
• Copping
• Flipping
• Botting
• Quick-striking

Popular Marketplaces:

• StockX
• GOAT
• Grailed
• Alias App
• Local Facebook Group

Luxury Bag Reselling

• Authentication expertise required
• High-end marketplaces
• Profit margins: 30-200%
• Investment range: $1,000-$10,000+

Luxury Watch Reselling

• Entry point: $2,000-$10,000+
• Profit margins: 20-200%
  

4. E-commerce Ventures

Amazon FBA (Fulfillment by Amazon)

• Product sourcing
• Inventory management
• Automated fulfillment
• Typical startup cost: $2,000-$5,000

Etsy Shop

• Handmade items
• Digital products
• Vintage items
• Print on demand
• Average startup cost: $50-$500

Dropshipping

• Platform options: Shopify, WooCommerce
• Supplier relationships
• Marketing focus
• Initial investment: $200-$1,000

Amazon Online Arbitrage

Amazon Online Arbitrage (OA) is a business model where you buy products at a lower price from online retailers (like Walmart, Target, or other e-commerce sites) and resell them on Amazon for a profit. 

• Retail arbitrage
• Online deal hunting
• Price comparison tools
• ROI potential: 30-100%

5. Digital Services

Directories Creation (Affiliation)

• Niche market research
• SEO optimization
• Affiliate partnership building
• Revenue sharing models

Web Development

• Frontend development
• Backend development
• Full-stack solutions
• Average project rate: $1,000-$10,000

Domain Name Trading

• Domain flipping
• Domain monetization
• Parking strategies
• Investment range: $10-$1,000 per domain

Setting Up Your Business Banking

Why Traditional Banking May Not Be Enough

Young entrepreneurs need flexible, digital-first banking solutions that understand their unique needs. Traditional banks often:

• Have age restrictions
• Require extensive documentation
• Lack modern features
• Have complex fee structures

The Neobank Advantage

Modern neobanks like Slash offer:

• Age-appropriate accounts (13+)
• Built-in business tools
• Simple setup process
• Modern mobile apps
• Integrated payment solutions
• Business support features

Getting Started

Essential Steps

1. Choose your side hustle
2. Research market demand
3. Set up proper business banking
4. Create a business plan
5. Build online presence
6. Network within communities

Financial Management Tips

• Separate personal and business finances
• Track expenses meticulously
• Reinvest profits strategically
• Understand tax obligations
• Use digital tools for bookkeeping

Success Stories

Inoxtag

Real Name: Inès Benazzouz.

Platform: YouTube, Twitch.

Known For: Gaming content, reaction videos, humor.

Key Stats: 7M+ YouTube subscribersOne of France's biggest gaming streamersRegular streams reaching 100K+ concurrent viewers.

Business Model: Streaming revenue (subscriptions, bits, donations)YouTube ad revenueSponsorships and brand dealsMerchandise sales.

Impact: Revolutionized French gaming content creation with high-energy personality and engaging streaming style

Yomi Denzel

Known For: E-commerce education, digital entrepreneurship. Primary Focus: Teaching dropshipping and e-commerce strategies.

Business Ventures: Online courses and mentorship programs, Digital marketing consulting, Social media education.

Key Success Factors: Built successful e-commerce businesses, Strong personal branding, Multi-language content (French/English), Transparency in business approach.

Impact: Helped democratize e-commerce education in French-speaking markets

Kylie Jenner

Known For: Entrepreneur, reality TV star, social media influencer.

Major Business Ventures: Kylie Cosmetics (valued at over $1.2B), Kylie Skin, Kylie Swim, Kylie Baby. 

Business Achievements: Named youngest self-made billionaire by Forbes (later revised), Built cosmetics empire through social media influence, Pioneered influencer-to-brand business model 

Marketing Strategy: Leveraged massive social media following (380M+ Instagram followers)Direct-to-consumer approach, Limited edition drops creating scarcity, Personal brand integration.

Ryan Kaji

Real Name: Ryan Guan.

Platform: YouTube (Ryan's World).

Known For: Toy reviews, educational content, children's entertainment.

Key Business Elements: YouTube revenue (one of platform's highest earners), Extensive licensing deals, Toy and merchandise lines, TV show deals .

Business Stats: Channel started when Ryan was 3 years old, Family empire worth estimated $100M+, Products sold in major retailers worldwide, 30M+ subscribers across channels. 

Impact: Revolutionized children's content on YouTube, Created new model for kid influencer businesses, Expanded from reviews to education and entertainment.

Common Success Factors

1. Platform Mastery: Deep understanding of their primary platformsConsistent content deliveryHigh engagement with audience
2. Business Diversification: Multiple revenue streamsBrand expansionsCross-platform presence
3. Brand Building: Strong personal brandsAuthentic connection with audienceClear value proposition
4. Innovation: First-mover advantage in their nichesNew content formatsCreative business models

Learning Points for Entrepreneurs

1. Start Early: Many began their ventures at a young age
2. Focus on Community: Built strong, engaged followings
3. Authenticity Matters: Maintained genuine connections despite growth
4. Diversify Revenue: Don't rely on single income source
5. Adapt and Evolve: Constantly updated content and business models

Conclusion

The entrepreneurial landscape in 2024 offers unprecedented opportunities for young self-starters. With the right combination of passion, strategy, and modern financial tools like neobanks, Gen Z entrepreneurs can build successful businesses at any age. The key is choosing the right business model and setting up proper financial infrastructure from the start.

Remember: Your age is not a limitation – it's an advantage in understanding and serving modern markets. With neobanks specifically designed for young entrepreneurs, you have all the tools needed to start and grow your business successfully.