Risk: Moderate

Starting a keychain making side hustle from scratch can be risky for someone who can't afford to lose money. Beginners could potentially lose money on materials, tools, and marketing efforts without seeing a return. There are startup costs for buying supplies, equipment, and possibly setting up an online store that might not pay off immediately. Online discussions mention instances where people failed to make a profit despite investing time and resources into keychain making. I'd rate the risk a 3 out of 5 because there is a moderate risk of incurring losses, especially if proper market research and financial planning are not conducted.