Once you’ve established a healthy business and contractor crew, your work will become mostly hands-off.ġ1. Contract with workers who can adapt to various scheduling needs to ensure that all your customers get taken care of. Subcontract services: Start a service-based business, like pet sitting, house cleaning, or after-school tutoring. For example, a credit card that gives you 5% cash back for all purchases could give you an easy $50 if you spend $1,000 on it each month.ġ0.
#PASSIVE INCOME BUSINESS IDEAS FREE#
As long as you’re diligent about paying it off each month, you’ll reap the benefits of the free cash without paying interest. Use a cash-back credit card for purchases: Use the credit card that earns the most cash back for all your purchases. You’ll take most or all of the work off your hands while making money.ĩ. Create a business for someone else to manage: Start a business with the idea of selling it to someone else eventually or hiring someone to manage it. Or, some people earn a living making referral websites that generate leads to send to target businesses.Ĩ. You can do this by asking local businesses if they have any referral bonuses. Refer customers to businesses: Earn money by referring ideal customers to businesses looking for leads. Banks usually have new offers each month ranging from $100-$300 in bonuses just for signing up and meeting additional requirements.ħ. Use Nerdwallet to find bank accounts with bonuses for new sign-ups. However, it’s relatively quick and simple. Sign up for new bank or savings accounts: This idea is one to use only when you need a new bank or savings account rather than a consistent form of making money. There are numerous marketplaces that allow you to list your extras, like Fat Llama and FriendWithAĦ. Rent stuff in your home: You can make money off various items in your home that you don’t always need, too, like baby gear, tools, or sporting goods. Alternatively, you could list a guesthouse or unused finished basement for people to rent short-term or long-term.ĥ.
Rent out your home: List a vacation property on Airbnb or VRBO to bring in rental income when you aren’t using it. Neighbor and SpotHero are just two of several marketplaces that help you list your spaces.Ĥ.
This can bring in additional money with no work on your part, becoming a truly passive form of income. Rent your garage, a street spot in front of your home, or extra spaces in the parking lot of a business you own. Rent out extra parking spaces: Make money on unused parking spaces. The US Review of Books and Kirkus pay freelancers to review books.ģ. Get paid to review books: If you read a lot in your spare time, you could get paid to take a few minutes to leave a review for the books you read. Or, work with an investment advisor who can help you set up and maintain your investments.Ģ. Try apps like Robinhood or Stash to get started as a beginner. However, technology has made investing easier than ever, with some tools even investing your money in the best potential ways for you. Invest your money: Investing money may sound overwhelming to you if you’ve never done it before.
#PASSIVE INCOME BUSINESS IDEAS OFFLINE#
To categorize the ideas, we’ve split this list into offline and online passive income ideas:ġ. The passive income ideas in this list may require some initial work or setup, but overall, they can offer a relatively steady form of income without you constantly having to work for it. You’ll also want to have a solid marketing plan to promote your business and set it up for success. Whether you start a small business and earn non-passive income or you take the leap and pursue one of the passive income ideas below, the key is to choose something you’re passionate about. To help you discover the passive income idea that’s right for you, we’ve listed dozens of ways to earn passive income below. Image by Nattanan Kanchanaprat from Pixabay
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