Most celebrities already have booming careers that are most definitely bringing them in the dough…or so you would think. Surprisingly, it depends on what the said celebrity is doing. Careers are funny things. Especially careers in the entertainment business. Did you know that artists like singers and musicians aren’t making much money off of their music itself?
The songwriting, royalties, and record business is in such disarray due to how fast the internet world is evolving that not only do people rarely pay for the music they listen to anymore, if they do pay, the money is going directly into some hotshot producer’s pocket instead of the pocket of the artist.
The only way that an artist is making money is off of a tour, random gigs and appearances, and a ridiculous amount of hard work on their part. The money going out is hefty, and the money coming in can be slim. This is why most celebrities have to run a side business to make it through. Being a celebrity costs a lot of money. It’s all about capitalizing on what they already have to ensure they have what they need. Here’s how they do it:
They Make a Clothing Line
You’re probably no stranger to this concept. You probably even wear the clothes from a couple celebrity’s lines. Do you have a Jessica Simpson or Jennifer Lopez closet? How about Kanye or Mary Kate and Ashley Olsen?
It’s actually pretty baffling to realize how many celebrities have turned into fashion designers. That’s if they’re even designing the clothes themselves. Chances are pretty good that somebody else is doing the work and the said celebrity is just choosing the final selection. Oh, well. More power to them if it puts food on the table.
They Own Real Estate
Celebrities know a decent amount about real estate. They’ve traveled all over the world, they’ve done research for the roles they’ve played in the movies and on tv, and they’ve owned and bought houses time and time again. They know that if they have property they own and rent out, they can make a great deal of money. Their name alone will bring in the tennents.
Choosing where to own can be a little tricky, though. It’s best they choose locations where the services offered meet up their impeccable standards. Popular locations definitely include places like Beverly Hills and New York City, but that doesn’t mean the celebs don’t go outside the box, to small areas like Katy, Texas, to bring in the extra income that funds their trips around the world.
Some celebrities do alright and are able to make great money with their original career choices. For the bulk of them, however, one job isn’t enough. They’re entrepreneurs at heart, so it’s all about finding that next great thing to bring in the money and take them to the next stage in life.