From baking to farming: Bengalureans' Plan B options amid layoff scare

Working professionals are turning to baking, farming and franchise deals as an alternative source of income.

In Bengaluru, the fear of layoffs is driving professionals to build serious side hustles. They hope to scale and monetise these ventures if their current jobs take a hit.

Entrepreneur and investor Ronnie Screwvala recently underscored the need for backup careers while speaking about the bleak job market during a television interview.  “Everyone should have two jobs,” he said, arguing that people today must rewire themselves to become “a little more self-employed” instead of relying on a single paycheck.

Metrolife looks at the rise of Plan B.

Two safety nets

George* and his partner began selling hot chocolate and cakes in their gated community last December after both lost their jobs at the same company on the same day. Although they quickly found new jobs, they did not abandon the gig.

Today, the couple spends weekends baking banana bread. They sell loaves to a cafe and in their personal network. “The side gig is a lot of hard work, but it gives us the satisfaction of building something that can secure our future, even in a small way,” says the profession in creative space.

Tilak spends his weekends at his farm in Chamarajanagar, 178 km from Bengaluru. After being laid off from his job a year ago, the operations professional realised he needed a backup plan and turned to his family’s roots in agriculture. “Today, I grow sugarcane, turmeric and coconut on about an acre of land owned by my family. It has been a year. The yield should follow,” he says.

Aman* and his partner are building two safety nets at once. They are close to finalising a franchise partnership in the electric vehicle sector, while also exploring another in the waffle business. “We don’t understand these industries well. That’s why we didn’t go all out. A franchise model lets us infuse capital and hope for returns,” explains the quality assurance engineer.

This is not their first attempt at diversifying income. During the post-pandemic job slump, the couple invested nearly Rs 60 lakh in an agri business that later became embroiled in a fund manipulation case. They lost around Rs 23 lakh, besides facing pressure from banks and a legal scare. A medical emergency wiped out their savings further. Aman says they have little choice but to keep building a buffer. They have two young children and ageing parents to support, besides EMIs to repay. Their monthly expenses come to nearly Rs 1.5 lakh.

Astrology was never meant to be a Plan B for Sneha*, but “when push comes to shove”, she says she will lean on it. She started exploring astrology to process grief, but over time, it evolved into a serious area of study. She has spent Rs 15,000 learning astrology and has earned Rs 5,000 through consultations. A journalist-turned- communications professional, Sneha lost her job in December and is currently consulting. Incidentally, she says she had “predicted” instability in her career and was mentally prepared for this phase.

For some, financial security is not the only reason to pursue side gigs. “I took sabbaticals to raise my kids, and staying home all the time became too much. I missed the social aspect that comes with working,” says Anisha*. The 38-year-old software testing professional is now looking for certification courses to become a corporate trainer. “I considered everything, from becoming a primary school teacher to running a tea stall,” she says with peals of laughter. She settled on corporate training because it aligns closely with her current role.

People like Bimal* acted much earlier. The software engineer survived the massive tech layoffs in 2017, though many of his colleagues were not as lucky. That was an eye-opener. A year later, he joined his wife’s business as a 20 per cent investor.

Less sleep, more stress

Pursuing two varied careers is far from easy. One, there is pressure to keep the parallel pursuits under wraps.

Bimal says it helps that the business is in his wife’s name. Even others, Metrolife has learnt, have registered PG accommodations, pet care enterprises, and engine oil distribution businesses in the names of family members. “If companies even get a hint of a side business, it can become an easy excuse to let you go, regardless of your performance,” he says.

George, however, says his wife’s employer is open to employees having a second source of income.

“Ever since layoffs became routine six months ago, I have barely slept five hours straight,” says Aman. He has spent every spare moment researching which business and which franchise model makes the most sense. Despite the stress, he must continue to give 100% to his current job. You can’t afford to slack, he says.

For some like Bimal, the workweek never ends. He helps out at his wife's therapy centre from Friday evening through Sunday.

Even the self-employed are exploring alternative streams of income. After decades of running their family business, Sharan’s family felt vulnerable for the first time during the pandemic. Supply chains were disrupted, and revenue was badly hit. Seeing the continued uncertainty in the market, Sharan and his wife, Prashanthi, started a home kitchen a few months ago to supplement their earnings. He is happy to share that their chutney pudi has become popular. “Right now, the business is supplementary, but we hope it grows into a meaningful revenue stream,” he says.

(Names changed to protect identity)