Buy a blog: this is an alternative to opening a blog. This is a great passive income earner and you get to operate it at no additional cost to you. You wake up in the morning realizing that people have paid for your idea, product or service even while you’re sleeping. Since pets just do their things and don’t require much care from you apart from feeding, bathing and walking, so you would have the time to still run your normal businesses. There are many affiliate marketing pros who make five or even six figures per month. How do I know the Ideal Passive Income Business Idea for me? 29. All you need is a vending machine, a good location, and to ensure that it’s always stocked. However, when venturing into creating courses, you must ensure that you’re giving out something valuable and of great benefit to your potential buyers. 10. In doing this, you need to roll up your sleeves and put in a few hours every day. It all depends on the kind of games you offer and the location of your business. You can try Linkedin or other similar sites to advertise your consultancy business online. These pre-built funnels make your task of creating campaigns much easier and faster. It’s a business you have to spend some time to build. Some of the passive income business ideas include running an ATM machine business, Laundromat, Food Truck, Vending Machines etc. How it works; just take a photograph of a scenic and beautiful spot or event and upload them to sites that put the photographs up for sale. *Earnings and income representations made by Chris Azzari,CA Technologies LLC and their advertisers/sponsors are aspirational statements only of your earnings potential. License an idea: you can create an idea and license it to companies. A high yield savings account pays better interest than the traditional savings account, and it is much safer as you are not in any danger of losing your money. His #1 online business pick for 2020 and beyond to grow your own 6/7-figure business getting results now for clients vs later. What I do is simple. 35. If your blog is optimized with Google AdSense, you get to make money when your readers click the adverts. Sites like InboxDollars and Swagbucks are perfect for these kinds of earnings. Craft greeting cards: a lot of people love unique cards, and as such would pay you to design it for them. However, it’s instructive to note that Facebook advertising isn’t as easy as it’s usually presented. The sooner you get started building sites the sooner you’ll begin to generate passive income. A venue owner earns about $0.50 per transaction and then you (ATM owner) receive the remaining balance. According to IBIS World, the food truck industry recorded over 6.8% growth in the last 5 years making it a viable way of earning money passively (source). Investing in self-storage facilities can be a profitable way of earning passive income. Sites like BigCommerce can make this quite easy for you. You can imagine the scale of returns this business can return. Set up an ATM: you can earn passive income by setting up ATMs in business areas. You too can join the growing tribe of digital entrepreneurs who’re earning passively online and living their dream lives. People are always looking for unique templates for their websites, so you are guaranteed to make a tidy sum from there. While all this may sound like some sort of holy grail, it’s indeed a possibility. You can apply a strategy where you can purchase different types of bonds and stock them up. Companies that need large quantities can pay you a tidy sum for them. It has helped me to build a 6-figure business with 4-5 figure monthly income. 14. The client drives through the cleaning booth, gets their car washed, and drives away. Also, you have to be consistent in building up your portfolio. 27. If you want to make this business passive, you will have to hire someone to outsource the work. For legal, financial, business, or tax advice, and before making business decisions, please consult a licensed professional in your jurisdiction. But the good news is that once everything is in place, it can just run on its own with you putting in just a few hours a week, or even a month. Udemy is one of the world’s biggest learning marketplaces. Share dividends: dividends are monies paid to shareholders of stocks. 24. Set up an ATM: you can earn passive income by setting up ATMs in business areas. Whether you’re tired of the daily grind of the 9-5 job and seeking a better alternative that offers you more freedom – or you’re simply looking to diversify your source of income, finding the right business that lets you earn passive income can make a huge difference in your life. You get paid a commission when people use your affiliate link to purchase a product or sign up for a service. If the company that you are currently working with offers such service, then take advantage of it. Trade your photographs: you can sell your photographs to make money. #1: Dividend paying stocks and other investments The first passive income idea on this list does take some start-up cash, but it absolutely helps me earn more than $1,000 per month… Have a look at our other passive income ideas and guides for more inspiration. Write and eBook: if you are a prolific writer, you can write an eBook on any subject of your choice and sell the eBook on your website. The best passive income idea that has got me the most profit and still paying me till date is Lead generation. Buy an existing Online business: one of the lures of online business is that you can do it from anywhere, but setting up an online business can be slow and time consuming. The Local Marketing Vault or LMV is an easy to duplicate funnels and Facebook ads program that shows you how to build a profitable business by helping local companies to generate qualified leads. All you need is capital to buy your first car, a laptop, internet connection, and a license. But you would need some money to float the website and optimize it. But with hard work and consistency, your YouTube channel can become a big source of passive income for you. Carry a car advert: do you already have a car and you drive around town a lot? You also need to outsource the work required to stock and upkeep the machines to make it as passive as possible. One program that helped me scale my lead generation business is the Local Marketing Vault. This blog does not provide legal, financial, business or tax advice and does not create a client relationship. But note that you still have to put in a few hours to get it fully on the road. But let’s face it, there’s no free lunch, not even in Free Town. You can start a rental business. For ease and clarity, we have separated the ideas into passive income that requires finance and passive income that does not require finance. A well-run game arcade business can earn up to $1,000 monthly (source). 6. Try index funds: this is another way to earn money from the stock market. You only invest your time and/or money to create an app. You can monetize your music on iTunes. Get vending machines: vending machines are one of the fastest earners in the passive income segment.