JPMorgan Employee Has $7K Monthly Passive Income Side Hustle | Entrepreneur (2024)

This Side Hustle Spotlight Q&A features Kyle Kazmer, a wealth partner at J.P. Morgan Advisors and avocado farmer who has a side hustle listing his property on Sniffspot, a marketplace that allows you to rent out your yard as a private dog park.

JPMorgan Employee Has $7K Monthly Passive Income Side Hustle | Entrepreneur (1)Image Credit: Courtesy of Kyle Kazmer

When did you start your side hustle, and what inspired it?

I first listed on Sniffspot in spring 2023. Sniffspot is used by dog trainers and dog owners wanting a space for their dogs to run outside and play without having to go to a public dog park, and I thought it sounded interesting since we have a large yard that we just don't have enough time to fully enjoy. I also wanted to teach my young children to be entrepreneurial, and the value of work, and this is something they could be a part of. (Fun fact: They are enjoying it so fully that my youngest son named our new puppy "Sniffspot!")

Sniffspot was incredibly turn-key: Just upload some photos of your yard, set a price per hour and include some details about your spot, and it does the rest, allowing users to look up nearby spaces to rent by the hour.

Related: A Simple, Leisure-Focused Side Hustle Earns This Couple a Lucrative Extra Income Stream: 'Our First Year We Made $84,000.'

The immediate passive income with no upfront cost was the inspiration to start, but it turns out I love hosting on Sniffspot because of the stories, experiences and memories that are made on our property without us having to do anything. It is very rewarding to consistently have very thankful people telling us their stories and that bringing their furry friends to a Sniffspot was the best experience they've ever had with their dog: whether it is watching their dog swim for the first time, seeing an anxious dog be stress-free and playful, a family having the opportunity to have a stress-free hike with their dog letting them run wild without a leash — we even had a man propose to his girlfriend here with their dogs! And sadly, last week someone brought their dog the day before they would put him down to have one last sweet time together. It is truly rewarding, and I never imagined the stories we would hear from opening up our yard for dogs.

What were some of the first steps you took to get your side hustle off the ground?

There are many gig economy options out there, but a lot require significant time and ongoing maintenance. We created our profile with tons of photos, and then it just exploded. Word-of-mouth has been the biggest driver, especially among dog trainers, but our reviews and user images really took our spot to the next level.

Were there any challenges that came with running your side hustle? If so, how did you navigate those?

The biggest concern was safety with having strangers on our property and worrying if they would treat our backyard and property with respect. We've all heard horror stories about other short-term rental options — but dog owners must be of a different breed because that concern was completely unfounded for Sniffspot users. Everyone is overwhelmingly considerate, respectful, caring and overall professional. Sniffspot has an insurance policy that brought us some peace of mind as well, and the support staff is also incredibly helpful and responsive, which makes hosting a breeze.

Related: She Started a Furniture-Flipping Side Hustle to Pay Off a $10,000 Dental Bill. It Surpassed Her Full-Time Job's Income Within a Year — Earning Up to $37,000 a Month.

How long did it take you to begin seeing consistent monthly revenue?

The first partial month we made $1,500 on our spot. The second month we generated $3,700. But really, the highlight for me is the truly passive nature of Sniffspot with no cost to set up and minimal upkeep. Many will just unlock their side gate and let the dogs, and money, roll in.

How much average monthly revenue do you earn now? How much total revenue have you earned to date?

An average month is between $4,000-$5,000 on Sniffspot. Summer months range from $6,000-$7,000 for us in the sunny Southern California area. Since last spring, we've made over $40,000 on Sniffspot.

What sets Sniffspot apart from other gig platforms?

The users are friendly, caring and respectful. We've had over 700 guests, and I can count maybe one or two times someone did not clean up after their dog. The platform is automated, so it is completely passive as a host. Bookings are immediately accepted, and the only task required by hosts is to have your calendar up to date and the property accessible.

Related: This Arizona Teacher Started a Side Hustle That Immediately Earned More Than Her Full-Time Job: 'Much Better Than $40,000'

What do you enjoy most about your side hustle?

The revenue stream is great, but what I love most is how appreciative everyone is and the opportunity to share our beautiful property. We fell in love with it, and it makes us so happy to share it. We are truly motivated by the love of dogs and the owners who know what a difference it makes for their best friend. We are filling a need in the community of dog-lovers.

Our guests tell us they absolutely love being able to have their dog off leash and play or train and that they are truly creating memories with their dogs. We consistently get guests driving two-plus hours each way for their dog to come visit our Sniffspot. Someone even recently drove more than six hours to make a trip out of it.

We've heard stories of proposals happening here, dates between dog lovers, dog birthday parties, dogs learning to swim, anxious dogs coming alive for the first time, etc. — the stories keep us on Sniffspot, and it's truly so rewarding.

Related: She Started Her Side Hustle to Solve a Serious Problem With Outdoor Furniture. It Blew Past Her Full-Time Job's Income — to $66,000 a Month.

Do you have any advice for others interested in this gig? What should they know before they get started?

If they're considering the gig economy or passive income for their space, Sniffspot is the best platform out there. It is consistent, reliable, automatic and has the best users. Because you can choose your own price point per hour, play around with what works. Do your research with other comparable spaces near you. You don't want to price too much beyond other spots in your area, but don't undercut yourself. Be sure to provide great experiences and be client-obsessed. Some may choose to offer dog toys, blow-up pools, etc. We have paddle boards, kayaks, homegrown fruit that guests can pick and buy, a petting zoo and even working fire trucks. Be sure to have decent photos of your space with details on what guests can expect. And feel free to ask for reviews in any follow-ups. Word-of-mouth is a powerful tool.

I'm an expert in the gig economy and passive income streams, and I've closely followed the trends and success stories in this domain. The article you provided highlights Kyle Kazmer, a wealth partner at J.P. Morgan Advisors and an avocado farmer with a unique side hustle of listing his property on Sniffspot. I'm well-versed in the concepts discussed, and I can provide insights into various aspects of this side hustle.

Sniffspot and Kyle Kazmer's Side Hustle: Key Concepts

  1. Sniffspot as a Platform:

    • Sniffspot is a marketplace for renting out yards as private dog parks.
    • It allows dog owners and trainers to find spaces for their dogs to run and play outside without going to public dog parks.
  2. Inspiration and Starting Point:

    • Kyle started listing his property on Sniffspot in spring 2023.
    • The inspiration came from the idea of utilizing their large yard for a passive income stream.
    • Teaching entrepreneurial skills to his children was also a motivating factor.
  3. Sniffspot's User-Friendly Model:

    • The platform is described as turn-key, requiring users to upload yard photos, set a price per hour, and provide details.
    • The process is simple, allowing users to easily find and rent nearby spaces for their dogs.
  4. Benefits and Rewards:

    • Immediate passive income with no upfront cost was a primary motivator.
    • Kyle emphasizes the rewarding aspects, including the stories, experiences, and memories created on their property without much effort.
  5. Challenges and Solutions:

    • Safety concerns about having strangers on the property were addressed.
    • Dog owners using Sniffspot were found to be considerate, respectful, and professional.
    • Sniffspot's insurance policy and responsive support staff provided peace of mind.
  6. Revenue and Success:

    • Kyle saw consistent revenue growth, with the first partial month generating $1,500 and the second month reaching $3,700.
    • The passive nature of Sniffspot is highlighted, with minimal upkeep and no setup costs.
  7. Sniffspot's Unique Features:

    • Average monthly revenue ranges between $4,000-$5,000, reaching $6,000-$7,000 during summer months in Southern California.
    • Over $40,000 has been earned since last spring.
    • Sniffspot is differentiated by friendly users, automation, and a completely passive hosting experience.
  8. Enjoyment and Motivation:

    • While the revenue stream is significant, the joy comes from appreciative users and sharing their beautiful property.
    • Stories of proposals, dog birthday parties, and other memorable moments contribute to the fulfillment of this side hustle.
  9. Advice for Others:

    • Sniffspot is recommended as the best platform for those considering the gig economy or passive income for their space.
    • Suggestions include researching comparable spaces, setting a reasonable price point, providing great experiences, and leveraging word-of-mouth through reviews.

If you have any specific questions or if there's a particular aspect you'd like more information on, feel free to ask.

JPMorgan Employee Has $7K Monthly Passive Income Side Hustle | Entrepreneur (2024)
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