Starting your own business is a wise idea to create a passive income. But most people ignore this way thinking they need high investments. Actually, they don’t.
There are several opportunities on the internet today where you can start your own business with no money or with small investments.
The Internet is the best place to sell anything today because you can target your customers. And also you can reach and contact more people from your home only. You don’t need to go out of a home if you work wisely.
If you are an employee of another company, then you can hire people that are capable of running your business successfully.
Want to know the best business ideas with no or small investments?
Do you have a vacant bedroom in your home? Then its time to make money by renting the spare room. This idea doesn’t need you to work every day.
You can simply list your room on websites like SpareRoom, Roomster, etc. Interested people will contact you directly.
Don’t forget to make an agreement with the customer according to your rules and regulations. Also, it’s better to gather their personal info when you are allowing a stranger into your house.
Selling an eBook online is a great way to create a side income passively. This idea doesn’t require great skills to start. You can write an eBook on any topic that attracts your customers. Like gardening, saving money, blogging, pet training, or anything that you have good knowledge and skills at. To sell your eBooks, you can use platforms like Amazon Kindle, Blurb, Nook Press and more.
A real estate is an option for those who expect high returns. Investing in crowdfunding real estate companies can be a great idea to make a passive income. You don’t need to invest big bucks to get into real estate. You can start with a few hundred. If you want to start with low investment, then Fundrise is a legit platform to start investing only at $500. They are offering up to around 8-12% annual returns on your investment. Realtymogul also a great company to start but the minimum investment here is $1000. Investing money is nothing but risking money. You need to keep it in mind and better to take advice from an investment adviser.
Lending money to the people who are in need will help you to get high returns in the name of interest. Peer-to-peer lending is offering loans to the people who don’t qualify for loans from banks or any finance companies. You can demand up to 5-12% annual interest on your investment. Actually, these returns are higher than any typical savings account. Look at companies like LendingPoint, LendingClub to get started with this business. Learn more in detail: Make Passive Income By Lending Money on Reddit.
Affiliate marketing is the best idea when it comes to passive income. You don’t need to create a product. You don’t need to invest money and still, you will get paid. All you do in affiliate marketing is promoting products on your blog(if you have), social media platforms, and other websites. You will get paid commissions when someone buys a product by clicking on your affiliate link. To get started with affiliate marketing, you can sign up for some popular affiliate platforms. You can start promoting once you are accepted by those platforms.
Clickbank Amazon Associates Shareasale Commission Junction and more. Note: Check out this course and learn how this lady is making $50,000 per month with affiliate marketing.
Blogging is another way to make passive income online. Blogging can help you to make money in different ways. You can choose your own topic to blog about it. You can blog about education, food, health, travel, science, technology, and more. Any blog can be monetized in more than 20 different ways like displaying ads, affiliate marketing, selling products, etc. Blogging can be your full-time job within few months of its inception. You can make a few thousand passively working on it. And you don’t need to invest big buck on a blog to get started. You can start your own blog at $2.95/month with Bluehost (Best and lowest ever).
Dropshipping is all about selling physical or digital products online and leaving the shipping process to the product owner or drop shipper. To be successful in this business, you need to make a list of good products and a good shipping partner. To get started, first of all, you need to create an online store. Shopify is a good platform to create a store because it is mainly focused on dropshipping business and has automatic features that help its users to create a store on their own. Once you are done with creating a store, You can list products on your store and promote it. The best thing with dropshipping business is you can fix your own prices of products. You can buy a product for $5 and you can sell it for $50 at your store. If you don’t find good products or drop shippers, then you can sell products from Amazon, AliExpress platforms. Shopify allows you to import products from those websites with just a single click.
Did you get any coding skills at your college? If yes, then this might work for you. WordPress themes are high in demand these days. Every website or blog owner needs a unique theme. The best benefit of digital products is they will be created once and can be sold for infinite times. Any digital product can be sold without any limit. Why not create and sell WordPress themes? If your theme becomes famous, then it will make you earn money passively every day. Some platforms to sell WordPress Themes:CodeCanyonThemeForestMojo Themes and you can find more.
This job is also similar to the above one. Instead of designing a complete WordPress theme, you can create a WordPress plugin that simplifies a certain function or task. WordPress plugins are mostly used to customize websites according to provide the best experience for their users. If you can create a plugin that helps website owners and users as well, then you can make money by selling it. Millions of users download WordPress plugins every day. It’s a great way to make passive income by selling WordPress plugins.
Looking interesting right? Yes, you can make a passive income by selling your photos online. Do you have good photography skills or passionate about photography? then you can start capturing beautiful photos to sell them online. All you need to get started is a professional camera or a smartphone with good picture quality. You can sell your photos on different platforms online. Some pay you based on the number of installs, and some pay you directly up to $100 per each picture. Want to start this business? Then hurry up and signup for those platforms. Shutterstock, Fotolia, and 20 more platforms to sell your photos online.
Almost every internet user spends money on online shopping. Why don’t use cashback apps to save money or to get cash backs every time you go shopping? These apps will help you to lower your spendings and to make money passively. You can get cash backs on food, groceries, clothes, and almost all other products. So, want to get cash backs on your shopping bills? Then install some popular apps called Swagbucks ($5 signup bonus), Ebates ($10 signup bonus) that helps you to make money.
Creating a YouTube channel is another great way to make passive income online. So, what can you share on your YouTube channel? Whatever! you can teach people with your videos, product reviews, tutorials, unboxing gadgets, world tour videos, cars, bikes, etc.Ever thought how YouTubers make money? YouTube pays its publishers by displaying ads on videos. Not only in that way, but you also can make money through affiliate marketing, reviewing products, selling products, driving traffic to your blog and in many ways. It takes time to see results on your channel when it is new. You need to be patient and consistent. Once you get results, you will start making money passively.
Want to make some passive income by renting your car? Then list your car on some popular car rental platforms. These platforms will help you to make up to $12,000 per year passively by renting your car to others. best platforms to rent your car: Turo Hyrecar and you can list on local classified platforms.
Want to help people by providing them guidance through your course? Then creating a course online will definitely help you to make passive income. You can include videos, documents, emails, or eBooks in your course. You will get money when someone purchases your course. To sell your course, first of all, you need a platform to host your course online. Some platforms to sell your digital courses: Udemy Teachable Skillshare and more.
Do you want to make a passive income by renting your stuff like furniture, ladders, chainsaws and other useful stuff? Many people are ready to rent those items every day. You can signup for some online platforms to advertise your stuff for rent. Interested people will rent your stuff and pay money. You can also make money by renting your car, spare room, etc. Best platforms to list your stuff for rent:CraigslistPeerRentersRentomojo and more.
Do you know that you can rent out your storage spaces like a garage or extra rooms to make some passive income every month? Signup at these below platforms and list your storage space to rent out to other people. JustPark Stashbee
Can you design creative designs to be printed on T-Shirts? Then this might work for you. This job doesn’t need great design skills. Funny sayings, humorous quotes brings more sales in this business. If you are interested to start this business, you can signup for a few platforms and submit your designs. They will print and deliver t-shirts to your customers and share profits with you. Some good platforms to start selling T-Shirts: Merch By Amazon Teespring Teemill and more.
Want to make a few hundred passively every month by placing advertisements on your car windows?Have you ever think about it? Yes, it is possible. You can make a passive income by placing ads on your car. Wrapify and Carvertise are the best places to list your car to get paid to advertise on your car.
Ever thought about making money on Pinterest? Yes, it is possible and it is not a social media platform. It is a search engine. Pinterest is a great platform to drive traffic to a blog or website or to any product page. So why not start selling on Pinterest? You can promote affiliate products, CPA offers, own products, courses, eBooks and more. This will definitely help you to create a passive income. Pinterest is also helping bloggers to drive huge traffic.
So, we are at the end of this article. These are the 20 legit passive income ideas to make money while sleeping. Hope this article helps you to find the best passive income stream for you. Leave a comment below or contact me if you have any queries related to the above list. I am happy to help you.