12 Most Easy to Start Passive Income Ideas – Earn $7,000+ /Mo
Having some passive income stream is a great way to sit back and relax while you are getting money to your bank account. This is the best low-risk investment stream you can enjoy without actively spending time on work.
Passive income streams require an upfront investment of time and certainly hard work in the beginning. After some time these income streams will maintain themselves to bring you consistent cash flow without much effort.
On the other hand, passive income is a long-term decision that involves short-term trade-offs. You have to commit your time, skills, and money towards your goal of generating passive income without thinking about getting rich in a short period. With the time and effort you put in, you will be able to enjoy early retirement by making thousands of dollars per month in long run.
Below are the easiest to start passive income ideas for you,
- Sell Your Stock Photographs / Videos Online
- Book Publishing
- Rent a Room or Annex
- Online Affiliate Marketing
- Publish a Mobile App
- Real Estate Investment
- Invest in Stock Market
- Create an Online Course
- Social Media Influencer
- Vending Machine Business
- Rent Your Car
1. Sell Your Stock Photographs / Videos Online
You can sell your stock photos with various websites such as shutterstock, istockphoto, alamy, dreamstime, and gettyimage. Also you can start your website once you establish your name in the community as a professional photographer. You can sell your stock photos using your website.
2. Book Publishing
This is one of the most profitable and risk-free passive income home business ideas if you are a creative writer with some subject matter knowledge. You have to invest your time and low cost to write and publish a book. Annual print book unit sales in the United States is 675 Million and global e-book publishing revenue is $12.32 Billion (reference statista.com).
3. Rent a Room or Annex
You can earn additional income if you have excess room or annex in your house. Online homestay platforms such as Airbnb are a good option to consider. Make sure to check about your state laws and other regulations in your jurisdiction regarding home rental services.
If you love writing, blogging is most suitable for you. The best thing about it is that it can be turned into a lucrative income source. A typical example is Melyssa Griffin, who lives in Los Angeles, United States, who earns $1 million per month from her blog website.
The best thing is you can use your spare time for blogging. This is the relatively easiest small business to start.
5. Online Affiliate Marketing
Online affiliate marketing is where a social media personality recommends a product/service to their followers. When the followers purchase the product/service, the personality will earn a commission. In simple terms, the affiliate personality searches for a product they enjoy then promotes that product, and earns a piece of the profit from each sale.
6. Publish a Mobile App
There are more than 3 million applications present in the google and apple app stores. Mobile application publishers usually earn more than $10,000 per month passively from these applications. There are 2 ways to earn money through mobile apps. You can show ads on your app and also you can enable users to conduct in-app purchases.
You can read the below article published by Tekrevol.com,
7. Real Estate Investment
The United States house prices grew 18.1% YoY in Sep 2021, following an increase of 16.8% YoY in the previous quarter (source: ceicdata.com). Real estate prices skyrocketing year by year. From the good old days, this is a well-established low-risk passive earning method.
8. Invest in Stock Market
Investing in Stock Market such as NASDAQ is a good option to earn. Companies usually pay a dividend for their shareholders yearly/quarterly, and this will be passive earning steam for the shareholders. Also, the rise of the stock value will be a capital gain for the shareholder’s investment.
9. Create an Online Course
People are trending more to learn and get knowledge from online courses. You can create a course from the subject knowledge or experience you have. Udemy, Pluralsight, Coursera, Udacity, are some examples of online course providers which you can contact to publish a course. You will have to put some effort to publish the course and then you can enjoy the passive earning.
10. Social Media Influencer
Social media influencers get popular among people by building a reputation for their expertise on a specific topic. They make regular content about various subject topics on their preferred social media channels. Followers will be engaged who pay close attention to view their content.
There are various platforms where social media influencers can create content for their followers such as Youtube, Facebook, Instagram, Blogging, Tik Tok, Pinterest, etc. Brands love social media influencers because they have a loyal audience who believes and follows them. Social media influencers can create enthusiasm among their followers to buy products they promote.
11. Vending Machine Business
We all have used a vending machine even once in our life. Vending machines are everywhere. The cost to start this business is with buying the vending machine and buying the inventory to fill it. This business has surprising passive profit potential.
You may refer to the below article published by nerdwallet.com,
12. Rent Your Car
If your car is sitting around idle, you can consider o put it on rental and earning some money? There are car rental dealers who will find a rentee for your car. Or else there are mobile applications to facilitate this.
Want to Start Your Own Business?
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