Several years ago passive income was rare and people think that passive income is reserved only for few people. People are not aware of the passive income ideas and they work hard to earn money. They don’t know how to work smart and make passive income.
A book writer will get passive income every time someone purchases his book. The same way for a musician will get royalty when someone purchases his music. Earlier this passive income comes to only big business owners, filmmakers, landowners.
He who makes $25,000 annually through passive income is more enviable than he who earns $100,000 annually through a salary.
Everyone thought that passive income is only for those people who have big business, property, or some special skill that they can utilize to generate passive income.
But the Good news is that now anyone can generate passive income without much effort. This is possible now because of new developments in technology. Due to the internet and the latest technology, anyone can generate passive.
People from any city or any village, people from any age group, skill or no skill, young or old, anyone can start making passive income. Today I am sharing the top 10 passive income ideas that will help you to build your passive income stream. You can start these passive income ideas without investment. Some Ideas may require a small amount of investment initially.
What is passive income?
Passive income is a stream of income which generates without your involvement. You will do a one time work to set up a system and it will keep on giving you income continuously without your active involvement.
For example rent income generated from property. Here one-time work is to buy the property and give it for rent, and then every month you will get rent without any work. In long run, it may require a little maintenance. This is known as passive income.
Read till the end of the article because I a sharing 2 bonus passive Income ideas. You can choose the passive income idea which best suits your interest and skill. Moreover, most of the passive income ideas don’t require any skill. Go through all the Ideas to understand how it works.
You can make passive income offline as well as online. To generate passive income online you need a computer or laptop and an internet connection. Today I am sharing some of the passive income ideas that will help you to start making money.
“If you do not find a way to make money while you sleep, you will work until you die.”
Remember that you have to work initially to build your passive income. One day’s work will not generate passive income. You need to consistently work for few weeks to months to build your passive income stream. Remember building a business will take time. Once everything is in place then you can enjoy your passive income.
Make sure to be focused on one thing and don’t get distracted. If you dont get success at first time then try again and again till you get success. Do not quit, if you quit u will fail.
You can implement any of the ideas provided in the below list based on your interest and skill. Work smartly to set up your passive income stream and get the benefits later. Once you will put the things in place just relax and enjoy your passive income. Initial setup may take time but it will reward you in a long time.
Passive Income Ideas 2021
Here is the list of top 10 passive income ideas:
1# Create an eBook
You can create an eBook and sell it online to make passive income. Writing an eBook is not difficult; you have to choose a topic based on your interest and knowledge. Choosing a topic is critical so you have to do proper research to come up with an eBook idea.
Select a Topic in which you are an expert or you have knowledge. You can select topics related to hobbies, personal growth, food, or anything in which you know better than others. People love to read How to, step-by-step guide, it gives them knowledge.
Make sure that you provide useful information in your eBook. The eBook content should be helpful to the reader. It should give value to your reader and they will recommend it to others.
Follow these steps to create your eBook.
- Research for the target audience and market
- Choose the eBook topic
- Write content of eBook and edit.
- Do grammer check proofreading – Use Grammerly for grammer check
- Create eBook cover and add images and graphics – Use the canva tool to complete this
- Convert eBook to pdf format
- Sell eBook
If you don’t want to work on creating cover and graphic design of eBook then you can outsource it to Fiverr or pinji. There are a lot of professional graphic designers available on Fiverr you can hire them.
Blogging is one of the best ways to generate passive income. Create your blog in any specific niche, and start posting articles related to that niche. Niche means the topic in which you are going to create a blog. Dog food, survival, camping, traveling, slow cooking, etc. are some of the niche examples. You can create blog for free also buy will not able to make money with that.
Blogging is a long term process as you have to post articles regularly and build an audience. It requires a small amount of investment for domain name and Webhosting. It will take 6 months to 1 year for a blog to become authority. Keep on posting articles on regular basis for your readers.
Once your blog starts getting organic traffic and articles are ranking in google search you can monetize it to make money. You can start displaying ads such as Google AdSense to your blog or sponsor ads. So you will get paid for ads displayed on your blog. Your blog will start generating passive income.
Steps to create a blog:
- Choose a niche
- Buy a domain name – Get a free domain name here
- Buy a Webhosting – Buy cheap and reliable Webhosting.
- Install WordPress
- Install required plugins
- Write articles and publish them.
- Monetize your blog.
Get your Free domain name here:
3# Create YouTube channel
YouTube is the world’s 2nd largest search engine after google. There are millions of people exploring YouTube daily and watching videos. Millions of channels are available on almost all the topics. Daily there are billions of views. If you get 0.01% of views from those billions of views you will make a lot of money. Create your own YouTube channel on the topic of your interest and create videos.
Upload those videos in the YouTube channel. Get more likes and subscribers to your channel. Create informative, entertaining, and useful videos to engage your viewers. You can create a channel on topics such as how to, tutorials, travel, food, animal videos, art, and craft, etc.
You can see in above image that “Kids Diana Show” channel has 1.6 Million subscribers, 2.053 Billion monthly views. Their estimated monthly earning is $513.2K to $8.2 Million. You can also make such kind of money by creating your interesting channel and growing audiance. It is a long term process with lot of work but you can achieve it with your commitment.
To make money from YouTube channels you have to join YouTube partner program. After joining ads will be displayed in your videos. You will make money by displaying ads on your videos. To activate ads in your channel you need 1000 subscribers and 4000 hours of view on your channel. Create a channel and upload interesting videos regularly. Get views and subscribers to complete the monetization eligibility.
4# Create an online course
Now a day’s most of the educational institutes are working online. There is a big market for online education. Create an online course and make money by selling your course. First, select a primary topic and plan the content. Make sure that you are an expert on that topic and you have enough knowledge on the subject. Just be specific to your topic and provide an in-depth course.
There are lots of courses available on a similar topic. Make sure your course is better than others and easy to understand. Divide the content into chapters or sections and create the content. For content, you can create a whiteboard video, presentation, or video with your face.
Review your course several times then upload it to the website from where you want to sell. There are multiple ways to sell your course. If you are having your website then you can sell on your website.
Secondly, you can sell on an online course selling platform. Upload your course and sell it online on these websites. They will take some commission to host your course. You just have to upload the course and the rest of the part they will take care of. Every time someone purchases your course you will get paid. Some of the best online course websites are udemy, courser, and skillshare.
5# produce an audiobook
Audiobooks are becoming popular now a day. A Lot of people like to listen instead of reading. If you have already written a book then you can create an audiobook for the same. You can double your audience by creating an audiobook for your book. Creating an audiobook requires some effort. It required technical skill as well as good voice quality. If you have both the quality then you can record your audiobook.
First, you have to write a script for your audiobook. Then decide how you want to record. If you don’t want to record it by yourself then you can hire a professional voice actor for recording. Hire an audiobook producer who will make sure that audio quality and everything is perfect on final production. Once the audiobook is ready you can upload it in Audiobook creation exchange.
On uploading audiobook in ACX it will be available on Amazon, Audible, and Apple audiobook store. Your audiobook will be start listing and people buy your audiobook. You will earn 20% to 40% of royalty on your audiobook on each purchase.
6# Affiliate marketing Commissions
Affiliate marketing is one of the best ways to make passive income. You will get paid for promoting other people’s products. It is very easy to do as you don’t have to create any product. Most of the digital products, tools, and software services companies give commission for selling their products. So if you sell their product you will earn commission.
Here earning is more as companies are providing commission unto 75%. Suppose a product costs $100, when you sell the product, the company will get $25 and you will get %75. Different products have different commission range. There are multiple ways to promote a product. If you have a website then you can promote the product on your website by writing a review of the product.
See the below image to get the basic underatanding on how affiliate marketing works.
If you don’t have any website then also you can promote on social media and various other methods. If you can invest money then you can promote affiliate products using paid ads in Google AdSense, Facebook ads, and other advertising channels. Some of the affiliate product sites are Clickbank, Digistore24, jvzoo. Here is the Top 16 Affiliate Marketing Websites & Programs.
7# Sell stock photos online
With the new technology revolution, there are a lot of new opportunities are emerging. Mobiles have the latest technology with high-speed internet. Mobile cameras are high end that takes high-resolution photos. Now everyone is having a mobile phone with a good camera.
You can use your camera to make money. Take nice photos from your mobile and sell them online. Whether you are a professional photographer or a beginner you can sell your pictures. Some websites will pay you a royalty on every photo sold. You can take pictures of nature, landscape, flowers, city, or anything interesting and upload them to photo selling websites.
On the internet, a lot of people are looking for good pictures for their graphic designs, websites, blogs, and their products. They will buy these photos and you will get paid for that.
Some of the photo selling websites shutterstock, Adobe stock, alamy, fotomoto, crestock.
8# Rental Income
One of the best passive incomes is rent from property. But most of the people think that they cannot do it as it requires a lot of investment upfront. But now things are changed, now you can rent a small portion of your home and make passive income.
If you have 1 or 2 unused rooms then you can rent it to travelers for a few days or months. Host your property on Airbnb or similar sites. Travelers visiting your city will search for a room, flat, or hotel in your location and rent out your property. You will get paid per day for renting your space.
Here are some of the websites where you can host your flat and make money Tripping, Airbnb.
9# Create App
There are mobile apps available for each task. You want to clean your mobile, scan photos, read QR code, book flight ticket, book a cab, buy medicines, order food, almost for everything mobile apps are available. People are creating apps and making a lot of money with them.
There are 2 ways to make money from a mobile app either you develop and sell it or keep it with you and monetize it with ads for passive income. Do some brainstorming and come up with an app idea. To develop the app you need a mobile app developer.
If you want to create app by yourself then you can read this document: How to Create a Mobile App.
Hire a professional mobile app developer from Fiverr, Upwork, or any other freelance website. After developing an app sell it or put it in the google play store and memorize it.
10# Design and sell T-Shirt
The T-Shirt business is huge and everyone used to buy T-Shirts. You can design your T-Shirts and sell them online. Here you don’t have to buy a bulk amount of T-Shirts and print it.
There are sites where you have to create your T-shirt design. If someone purchases your designed T-shirt you will get royalty or commission. It is very easy to do and there is no investment required.
You can set the price of the T-shirt. For design ideas, you can see the top-selling T-shirts in redballoon or Teesprings. Get the idea and inspiration from these places and design your own, do not copy. For designing you can use tools canva, placeit, merchdesigner, photopea, Fiverr.
Some of the t-shirt stores are Teesprings, Café press, Printful.
11# Network Marketing
Network marketing companies are around for a long time and you can build a passive income using this. After joining a network marketing company you have to build a team below you.
You will be up line and people who joined under you will become your downline. Some of the top network marketing companies are Amway, Avon, Herbalife, Infinitus, Perfect, etc.
12# Flipping Domain Names
You can buy a cheap domain name and sell it. With the internet revolution, all the businesses are online, and running an online business website is required. People are buying domain names related to their business. Buy domain names that are related to high demand and easy to remember.
There is huge demand in the .com domain. Most of the good domain names are already sold out but still, there are lots of new domain names are available to buy. You can search for a domain name related to any industry and buy it. If you know the industry then it will be easy for you to choose a profitable keyword for the domain name.
Buy the domain name and keep it with you for a long time so the price will increase. Older domain names are considerably sold at more price than new domain names. Here are some of the sites where you can buy and sell domain names Sedo, Flippa, Domain, Namepros, and NameCheap.
13# Rent your car parking
If you are not using your parking space then you can use it for making money. Give your parking space for rent to your neighbor or anyone who is looking for parking space. Nowadays there is a huge demand for parking space as cities are expanding and there is less availability of parking space.
14# Buy a Website or Blog
Creating a blog and making money from it is a long term process. To make the process fast you can buy a website that is already making money and start getting the passive income. Over the period, your invested money will be recovered and revenue generated from the website will be pure passive income.
There are websites such as Flippa.com and empireflippers.com where you can buy websites and blogs. There are a lot of old authority websites and blogs which are already earning monthly. You can do research and evaluate websites.
See the stats of traffic and earnings then buy the website or blog which fits your requirement. You may require website maintenance regularly which you can outsource it. You can scale your earning by adding more content to the blog and monetizing with other options.
15# Stock Investment
In the stock market, the upfront investment is required. You can own companies stocks and bonds that will generate passive income for your retirement. Buying stock, bonds and mutual funds are good option to invest for long term gain.
You will become one of the owners of the company when you invest in the stock of the company. The best time to buy stock is when the market is down; you can sell the stocks when the market is up. To make a huge profit it is recommended to keep the stock for the long term.
You need to study the market before buying any stock or learn how to buy stock before investing in stock, bonds, or mutual funds.
Here is a top selling book to learn about stock market: How I Made $2,000,000 in the Stock Market
16# buy a property
TO buy a property huge investment is required. A property will give you a good amount of passive income in the form of rent. If you have an adequate amount of money then you should invest in property. Buy a commercial property or residential property at a prime location.
The rent of the property depends upon its location and connectivity. If your property is at the prime location of the city and all shops, malls and other amenities are nearby then you will get good rent of the property.
Search the property according to your budget and give it for rent. Before investing in the property consult with your advocate and to proper review of the property papers.
Here is a book to learn about investing in property: How to Create Wealth with Intelligent Buy and Hold Real Estate Investing
17# Buy an Existing Business
Building business and brand will take a long time and a lot of challenges are involved in this. You can save your time building a business and directly buy an already established business. Investment is required for buying the business.
For example, you can buy a franchise of any established company such as McDonald’s, Starbucks, or KFC. The best part of taking a franchise is that they might have already a customer base and they have a proper process in place. Most of the initial work is already done so you just have to start the business and make passive income.
18# Print on Demand online Store
Print on demand is trending now. People are looking for custom made products. A T-shirt with own customized quote or picture, coffee mug with a picture are on demand.
You can create an online store and add graphic designs of T-shirts, mugs, mousepads, photo frames, Pillow, Plated, Notepad, etc. You can hire someone online from Fiverr to create these graphics. For printing, tie-up with any local printing company.
Once you get the order you will send it for printing to a printing company and they will print and courier it to the customer.
19# Rent Personal Items
You can rent your items such as a camera, laptop, Drone, projector, etc. Items from almost all categories such as electronics, kids & baby, clothing, sports can be put for rent. Website Fatllama provides a platform where you can rent your items.
You can list your item on this website for per day rent and if someone takes it for rent you will get money for the rent. Everyone has some personal items at home which they are not frequently using. You can put it for rent those items and make passive income from that item.
20# Sell digital goods on Etsy
Etsy is the largest platform to sell handmade items. You can create digital goods and sell them on Etsy. Digital products such as greeting cards, posters, invitation cards, stickers, and templates you can create and sell on Etsy. This requires one-time work as you have to create this digital product one time and sell it multiple times.
Create good and attention-grabbing digital products such as a nice birthday card, wedding invitation card, or poster. Create your Etsy store and add these products.
If someone buys the product you will earn. Since it is a digital product you can sell the product multiple times and earn passive income. A nominal fee you have to pay to Etsy in every 3 months for your shop.
21# House sitting
House sitting is also good to make some extra money. People will keep someone at home to take care of home when they went out of the station. You have to stay at their home and see the things if everything is ok. They may tell you to take care of pets or water the plants when they are away.
But overall it’s relaxing work you don’t have to do anything, you just have to stay at their home for a certain period and you will get paid for that. It is a very easy task as you just have to stay at home and enjoy the time.
22# Rent your Boat
You may not be sailing in your boat for 365 days in a year. Most of the time your boat will be parked. You can rent your boat when you are not using it. You will get passive income for renting your boat.
People generally go fishing, sailing, or celebrating during their vacation time. Most of them rent a boat for a couple of days. You can also rent your boat in websites boatsetter or GetMyBoat .People can hire your boat from that website and you will get a good amount of money for renting your boat.
23# Write a Book
A Book is the best source of passive income. You can see the book writers will get royalty on books. The book is written one time and can be sold millions of times and each time writer will get money. You can also write your book and sell it. Writing a book is not easy it requires writing skills. You need to have a good writing style to engage the reader. It requires a good hold on the language and grammar. As an author is challenging as your book will impact thousands of readers.
First, find a great idea for your book then plan your book content. Write the outline of the book and then start elaborating the content. Set some timeline and complete the book. Review the book and edit the content multiple times to make it perfect. Once the book is complete publish it. There are multiple platforms available to publish books. Either you can go for self-publishing on the amazon kindle store or contact any book publisher to publish your hardcover or paperback book.
24# Rent your Garage or Attic
If you have some unused space at home then you can rent it. You can rent your garage, basement, closet, or driveway and make extra money without doing anything. There is a website Neighbor that provides a platform to rent extra space of your home. You can earn from hundreds to thousands of money by renting your space.
25# Develop a software
Software development needs technical skills to develop. Broadly we can say software but there are different types like tools, mobile apps, saas, products, or services. You need an idea that needs to be developed and identify how to make money from it.
Revenue can be generated by selling it one time or on a subscription basis. There are various business models premium, freemium, or subscription. You can provide a free trial for a product or service and paid full version. Options are many you just have to come up with an idea.
You can outsource the development work in Fiverr, Upwork, or any software company.
26# Create a comparison site
Create a comparison website and compare products and services. These comparisons can be any niche such as electronics, gadgets, appliances, software, or services.
You can monetize your website with google ads, affiliate products, sponsor ads, PPC. You can keep on adding products on regular basis to make it an authority site.
Here are the bonus passive income ideas.
Create your own podcast and earn sponsorship revenue. Initially, you have to create podcasts on topic and record multiple episodes and build the audience. Once your audience will grow your will start getting sponsors. Initially, the money earned is not fully passive as every week you have to work to create new episodes. But over the period your podcast episodes get more audience and it will become a valuable asset for you. For a lot of established podcasters every worths thousands of dollars.
Create podcasts regularly and publish every week. Keep on publishing till your reach 100 or more episodes. It is a time taking process but in the end, you earn passive income.
Bonus2# Put ads on your car
Some companies will pay to just for driving. If you are staying in Metro city and do an average amount of driving daily then you can make money by placing ads on your car.
There is a company Wrapify will wrap your car with ads. So wherever you go advertisement of the company will be done. You don’t have to drive extra, you can continue with your daily routine work.
The ads will be displayed on full car, partial, or lite based on your choice. You will get paid monthly for the ads wrapped on your car.
Please share your thoughts. Which passive income idea you are going to choose?