Passive income is a business strategy that allows you to sell products or services on autopilot so you can essentially earn money without doing extra work. Obviously, it is becoming increasingly popular among entrepreneurs who want to maintain a comfortable lifestyle without working endless hours. If this seems like an attractive business option for you, here are some passive income ideas that you can add to your existing income:
If you’ve always wanted to write a book, you can easily publish your work and offer it for sale on platforms like Amazon, where you can make money. Amazon offers up to 70% of your asking price depending on your rating, and you can have it published in about five minutes.
If you want to provide information in a different format, you can create a course on your site or on platforms such as Teachable or Udemy. Once you have finished creating the course, the students can buy it, download it and read it, without any extra work from your side.
If you have a blog, website or even just a few social media accounts, you can include some affiliate links to different products or services, and you can earn money every time someone makes a purchase based on one of your recommendations.
Print on request
Print on demand industry is expected to grow to $ 10 billion by 2025. Given this, it is more viable than ever to create products with your own custom designs.
If you are a qualified web designer, you can create templates that customers can buy, download and add to their websites.
Printed art sales
For artists or photographers, you can offer your products in electronic format that customers can print on their own. So you don’t have to create and ship physical products.
Another idea for photographers, you can upload your work to photo sites and then make money every time someone purchases or downloads one of your images.
For musicians, you can make work available for companies or individuals to license and use. You earn money for each download or each time your creation is used in a new project.
You can also sell instructional or informational products in other formats. Create guides, tutorials, workbooks or even audio content that you can sell automatically to your customers.
You can also sell physical products in a passive manner, using self-service kiosks. These may include vending machines, self-service coffee stands or even low priced arcade games. You just have to reload them from time to time, but it is much more passive than other companies that sell physical products.
If you have a physical location or a vehicle, you can make some serious passive income. Just make these spots available for display ads for other companies.
Sales of applications
If you are a technology expert or have a great idea for an application, you can create it and then make it available in different application markets. Once the work is done, this can be another passive income for you. You will earn money by selling these apps.
If you want to stay in an online business, you can create a website with different content or useful resources available. If value is provided the customers will pay a monthly fee to access the content or the features.
If you want to start an ecommerce business, use a dropshipping service to effectively fulfill and process orders. So all you have to do is set up the store, and platforms like Amazon can help you find the product without too much effort.
Best way to create passive income without risk and effort is to buy index funds. Leave the money over the years to get the best results possible.
Which passive income idea you think is better for you ?