Benefits of Mystery Shopping
The benefits of mystery shopping start with the one thing that most side hustles can’t match: you can earn money by doing ordinary errands around town. You can eat out at a restaurant, shop in a retail store, tour a new home or apartment, or test-drive a new or used vehicle. Some of these assignments are for luxury items. You can build an income stream with many of these assignments.
A mystery shopping business doesn’t require a degree or special training in any field. You don’t need expensive equipment or inventory to get started. It requires careful reading of the instructions and adherence to the scenarios as written. You can be a college student, a busy professional, a work-from-home mom, or a retiree.
One of the most significant benefits of mystery shopping is flexibility. You work when you want to work. You can sign up for free with many mystery shopping companies to get added to their databases. You can browse through their list of assignments and apply for the ones that meet your desired time and place to work. Once the mystery shopping company assigns you, that’s when you’ll read the guidelines for the assignment.
You can select assignments that match your comfort level. If you need to stay at home, consider making a bunch of phone calls. There are a handful of mystery shopping companies that only do telephone assignments. Some of these assignments include ordering pizza, completing medical clinic surveys, and calling about Medicare services.
Naturally detail-oriented people often discover that mystery shopping rewards the same skills that make them reliable employees. You don’t have a boss breathing down your neck to complete more assignments than you can handle. You work at your own pace. You must satisfy the mystery shopping company and the client for whom the assignment is with a high-quality, accurate report. Poor and incomplete reports lead to fewer assignments.
You can schedule mystery shopping assignments while the kids are in school. I used to complete many assignments in the early afternoon after I was off work and before I had to pick up the kids from school.
Significant benefits of mystery shopping include tax advantages.
Starting a mystery shopping business offers many opportunities to write off certain expenses. Mileage is one of the most significant deductions for mystery shoppers. If you travel to and from a mystery shopping assignment, you may be able to deduct that business mileage.
Commuting rules can differ from business travel rules, and mixing personal errands into the same trip can complicate matters. The best practice is to keep a mileage log with the date and starting point. Write down the mileage when you have personal stops to make so your records are easy to defend.
Other business expenses include parking fees, tolls, and supplies like a notebook. Internet and phone usage is tax-deductible if it’s proportional to business use. If postage is involved, you can write it off as well. However, the internet has reduced the need to mail anything.
This also teaches you to think like a business owner. Revenue is only half the story – profit is the goal. Because tax rules vary widely by country, it’s best to consult a qualified tax professional to make sure you’re compliant with the law.
Video mystery shoppers can write off the equipment they have to purchase. The massive benefit of carrying hidden video is that, in most cases, your final reports will have less narrative to write. It reduces disputes like who said what and how they said it. That helps owners and managers properly train their salespeople to sell a prospect on their service.
Listen to my conversation with Mystery Phil, who does mystery shopping full-time.
Video assignments usually pay double what a written assignment would pay. Some video mystery shoppers work this business full-time. When you get into a preferred-shopper status and can make road trips to do a group of assignments, you can be very busy with this opportunity.
Mystery shoppers sometimes add related services, like audits, merchandising checks, market research panels, or become trainers for new shoppers. Over time, your experience can become a valuable asset to your reputation. Mystery shopping company schedulers love people who are accurate, discreet, and on time, which can put you at the top of the call list when premium assignments become available.
Ultimately, the best advantage of starting a mystery shopping business is that it meets people where they are: limited time, limited startup funds, and a need for flexible income. You get to choose assignments, learn business fundamentals, potentially access legitimate tax deductions, such as tracked business mileage, and build toward higher-paying specialty work, such as video mystery shopping.
If you’re looking for a side hustle that rewards simple observation and attention to detail, consider starting a mystery shopping business. Not only will it add extra income, but it can also be empowering to know you helped a business owner learn more about their company. That allows them to properly train their people and remain competitive.
The mystery shopping business is always looking for new faces to visit different places. Learn how you can start your own mystery shopping business from my book, "Take That Job And Mystery Shop It!" I also list nearly 200 mystery shopping companies you can visit on their websites to submit an application. There's information about each company, and I indicate which ones I've worked with.
