The Paris Olympics provided a great stage for athletes from around the world to showcase their skills and left behind many memorable moments. As the Olympics come to a close, the athletes who have been active on screens in the past few weeks are returning to their normal lives. For some, in addition to their daily training routines, they also face higher living costs and economic uncertainty, leading them to rely on side gigs to supplement their income so they can continue to focus on their beloved sports careers.
Training for the Olympics requires full dedication, and for many athletes, despite the intensity being akin to a full-time job, it may not provide sufficient income. Nowadays, Olympic athletes, much like many regular individuals, are creative in finding various ways to earn extra income.
If you are feeling financially tight or are fundraising for a life project, starting a side hustle is undoubtedly a good way to increase your income. The side hustle experiences of Olympic athletes could provide inspiration.
Emma Newbery, co-founder of the English newspaper “The Bogota Post,” summarized some of the side businesses of Olympic athletes on the popular investment and finance website Motley Fool Ascent. Additionally, “The Guardian” and European news outlets have also covered similar stories.
The U.S. team won a bronze medal in women’s 7-a-side rugby at the Paris Olympics. The team’s star, Mah, has over 3.6 million followers on Instagram and over 2.3 million on TikTok. She initially used social media as a way to promote women’s rugby and later turned it into a means of financial support for herself.
According to “The Guardian,” Mah has collaborated with various brands such as Secret, L’Oreal, and New Era. She also partnered with former collegiate swimmer Ann Ragan Kearns to launch a skincare line named Medalist.
She shares the lives of Olympic village athletes in a light-hearted manner on social media, leading to a significant increase in her fan base.
Newbery, co-founder of “The Bogota Post,” stated that while not everyone can become an internet celebrity, if you have expertise or marketing skills, you can consider earning extra income by helping others manage their social media platforms.
As per a report by “Essentially Sports,” gold medalist at the Paris Olympics, Lyles, earns income through brand endorsements. He has endorsement deals with Nike and has had collaborations with Adidas. He also invests in real estate and is a rapper on Spotify.
Lyles’ experience tells us that if you have capital, you can transform it into passive income through investments. This could be in the form of real estate or by opening a brokerage account and investing in the stock market.
Three-time gold medalist from the U.S. in water polo, Stevens, recently discussed the economic challenges she and other athletes face on Instagram.
“Many of my teammates are not just champions but also teachers, business owners, coaches, physician assistants, and more,” she wrote. “Some may not know that most Olympic athletes need a second (or third) job to support their dreams, including myself!”
In addition to other side gigs, Stevens co-founded a company called “6-8 Sports.” The company uses advanced data analysis techniques to help athletes understand their strengths and weaknesses.
Stevens leveraged her success in water polo to co-found a related business. In other words, starting a side hustle related to your own experiences is more likely to succeed. For example, if you are passionate about running, you would know what products and services other runners might need. If you work in graphic design, you could start a related side business creating logos or assisting companies with presentations.
According to Euronews, Jamaican track and field star Shelly-Ann Fraser-Price has made a name for herself in the beauty industry. Not only does she operate a hair salon in the Jamaican capital of Kingston, but she also recently launched her own hair care product line. Price has won three Olympic gold medals.
Sweden’s Fredericksen, a highly successful equestrian athlete who won a gold medal at the Tokyo Olympics, began learning art and design in the early 1990s. Today, he has become a successful artist, designing a range of horse-inspired products from leather bags to trays and plates.
One of his major achievements was designing the logo for the International Federation for Equestrian Sports.