Passive income ideas
Passive income is very helpful for us. Don't get caught up in the idea that passive income does not require any work or investment to make real money. You'll need to put in a significant amount of work, either in the form of finances time content, or skills. Here are five passive income ideas, you may want to consider.
- Sell on Amazon
- Invest in royalty income
- Rent a room
- Start an ATM business
- Start influencer Instagram account
Sell on Amazon
Amazon needs no introduction. Thousands of sellers and brands are hitting it big on Amazon, and you can too. If you ask me, I'd say there's no better time to launch or grow a business on Amazon than now. If you don't have a product line, you can still purchase items in bulk from China and retail on Amazon. There are a number of ways to make money from Amazon, including using Amazon FBA private label retail arbitrage amazon flex.
Whichever option you choose, be sure to do your research before going all in. I have seen sellers who didn't do enough research around the product before ordering it at the end of the day when shipping costs and production costs were factored into the retail price, their products, ended up being too expensive to sell.
Here's a heads up the stats show the majority of Amazon's revenue comes from the sales of electronics and media products. This category accounts for more than 50% of sales furniture and appliances come in second at 18.85%, food and personal care are at 14% and toys hobbies and DIY tools are at 12.5%.
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How does the idea of making money from other people's songs books, movies, or intellectual property sound? Well, welcome to the world of royalty income. Royalties can fetch you a good amount of money from several industries. It may come as a surprise that a content creator will be willing to let go of his rights to learn whenever his record is played or his book is sold.
But here's the thing. Upcoming musicians, for example, may not have the capital needed to kickstart their careers, or even take it to the next level. And this is where royalty becomes a potential source of income for them. By helping raise funds for their projects, you will be entitled to a percentage of their profits. Whenever someone purchases the product royalty is going to grow and become a gift that keeps giving if you pick the right projects to invest in.
There are a number of platforms such as the royalty exchange that are trying to bridge the gap between potential investors and content creators. With such platforms, investors can link up with Royalty Owners, who are looking for quick cash from royalties in music to film pharmaceuticals, oil, and gas solar energy and books. There's simply no end to what you can invest in.
Rent a room
Putting up that extra bedroom for rent is a great way to earn more disposable income. I'm sure that you are no stranger to Airbnb, whilst there are other ways to rent out a room, becoming an Airbnb host has become one of the better-known ways to make passive income as a host.
You are essentially providing alternative accommodation to travelers, you can earn a pretty decent amount from Airbnb, depending on how many nights you make your room available every month, the season, and how competitive your price is in comparison with other properties in the same area, you may want to consider having a third party or a co-host to manage your property. If you don't have the time to check guests in and out handle cleaning and stocking of the room.
ATM business
Do you use an ATM to withdraw money countless times? Have you ever wondered about the company behind these machines, who owns them, and who manages them?
It may surprise you to know that there is an entire industry structured around the ATM business with fees reaching up to $8. In 2014, the national average radium fees were $4 35. Fees in the ATM industry are split between three primary players, the ATM owner, the venue owner, and the ATM processor.
If you own a good location, you can double as both the ATM owner and the venue owner. To get started in this business. All you need is an ATM machine, a location with high traffic, and a reliable ATM processing service provider.
Let's put some perspective on how much you can make from an ATM Business. Studies peg the average ATM withdrawal of customers at $60. Let's assume you pick a fairly decent location that records a minimum of 10 transactions every day. Assuming the fee on each transaction is $4, the ATM owner will collect $3, the venue owner will receive 50 cents, and the payment processor will get $1.80 per transaction.
After the visa shed. You should go home with a minimum of $20 every day. This translates to a monthly passive income of $600, considering the level of work involved and the expected return on investment, an ATM business is a good source of passive income.
Instagram influencer
More than ever, it pays to be popular. In addition to earning from their careers, most of your favorite celebrities earn from their social media pages endorsing your products has gone digital and you can cash in big if you have a remarkable number of social media followers.
with an estimate of over a billion users, Instagram has proven that a picture is worth 1000 words. Top influencers are charging brands between $80 and $600, to promote their products. The best thing about being an Instagram influencer is that you get to do what you love, whether your passion is around tech travel books entertainment or fitness, there is an audience waiting to receive you. It is however important to pick a niche and stick with it.
In conclusion, don't get caught up in the idea that passive income does not require any work or investment to make real money from any of these passive income ideas, you'll need to put in a significant amount of work, either in the form of finances time content or skills. What other passive income ideas do you know, let us know in the comments below!
