Many people dream of making passive income while they sleep, but don’t take any action on it for the simple reason that they believe it’s too hard to get started.
This is completely absurd. There are a nearly limitless number of ways you can get a side business started to earn you passive income, where after you make an initial investment of time and money, you start earning profits without even doing anything afterwards.
Here are three business ideas to earn you passive income:
1 – RV Rental Business
You can get an RV rental business started with as little as a single motorhome or travel trailer. Several people have an RV that they only use once or twice a year, and when they’re not using it, they rent it out to others in order to make money.
With enough renters, it’s possible to earn thousands if not tens of thousands of dollars a year through this. In order to compete against the big RV renters in your area, you will need to get your RVs prominently featured on listings, take high quality photos, keep your RV maintained, and price competitively.
2 – eBook Publishing Business
Publishing eBooks through Amazon’s Direct Kindle Publishing program is one of the most popular ways to make passive income in this day and age. The most common price point for a Kindle book is $2.99 with a 70% royalty, which means you’ll make just over $2 per sale. Even if you only make one sale a day, that’s an extra $60 a month in passive income. Pretty cool, right?
But if you truly want to turn Kindle publishing into a business that earns you thousands of dollars a month in passive income, then what you need to do is build a brand. Find a profitable niche, write several books in that niche under the same pen name, build up your marketing presence through social media and e-mail marketing, and establish yourself as an authoritative and identifiable brand in that niche.
3 – Online Course Business
Finally, website such as Udemy make it very easy to create and sell online courses to make money from. As with Kindle publishing, you can make anywhere from around $50 to several thousands of dollars a month in passive income through an online course.
While it will take you at least one full weekend (if not longer) in order to plan out and create a full three hour course, it can be an investment of time that really pays off. As with Kindle publishing, your goal should be to establish yourself as an identifiable brand with several courses in the same basic niche to naturally attract customers.
Business Ideas For Passive Income
Passive income is awesome not just for the reason that you’re making money without really doing anything but also because it helps build your financial security.
Any one of the three passive income ideas presented to you in this article will be a great way to begin earning passive income in as little as a week.
Author: Oliver Curtis
Hi there. I’m Oliver. I’m just a young boy from the outskirts of… Okay, that’s a lie, I’m not a young boy anymore, although I certainly feel that way at heart.