Did someone tell you that you can make money while sleeping? Yes, it’s possible. The money made with minimum or no effort is known as Passive income. Let’s take a look at the trending passive income products for businesses:
1. Build an Online Store
Drop shipping business is a great way to earn passive income. Here, you deliver the products directly to customers and get paid immediately. You can build the store with Shopify with basic internet skills. You can check out https://www.journalreview.org/ to know more about passive income ideas.
2. Selling products online
You can sell other people’s products for a commission. This is known as affiliate marketing and is a great way of earning passive income. Clickbank is one such platform where you can find affiliates that correspond to your brand. Hay House offers a 50% commission on selling any of its courses.
3. Create a Vlog (your own YouTube channel)
Create a video that people would love to see. If it goes viral you can make a huge profit in a very short span of time. YouTube pays by monetizing ads on your videos.
Initially in business, you will have to invest a lot of time making videos and capture the audience. But once you are successful in reaching out to people, you can keep on earning from the same videos for a very long time.
4. Online investment in real estate
Recently real estate crowd funding has become a great way of earning the passive income. You can earn 6-12% annually. Minimum investment required is also not much. In some cases, it is as low as $1,000 per project. You can invest in different estates sitting at home.
5. Creating and selling website themes and templates online
If you are creative enough to design a template or a theme for a website, you can start selling them online and earn passive income.
6. Taking and selling pictures online
If you are fond of taking quality pictures and have a stock of such wonderful photographs, you can sell them online. The same image can be sold multiple numbers of times. This helps you earn the passive income from the existing gallery. iStockPhoto is a website where you can encash your clicks.
7. Creating and selling T-Shirts online
You need to have some design skill and minimum coding knowledge in order to create t-shirts and sell them online. You have to upload the tees designs on the website. The print-on-demand vendors can drop ship the orders for you, or you can start an online store for selling your t-shirts. You can ship yourself to increase your profit.
The ‘Do It Yourself’ i.e., DIY route where you create your own online store is more profitable. Volusion is ecommerce software which can help you create and manage your t-shirt website, sell your tees, as well as market your business.
8. Selling your artwork online
If you are fond of creating some sort of artwork such as sketches, paintings, doodles, etc., you can put them together under a portfolio website. Give your name as the domain name and sell them online. Frame your artwork when you receive an order. Pixpa can help you build a portfolio website.
9. Creating online courses
Online education is a growing field today. The availability of online courses is increasing every day with more and more students getting enrolled. You can sell your knowledge and expertise to those who want to learn. Udemy is a site where you can easily sell your course.
10. Creating and selling an eBook
It’s not necessary that you sell your expertise only in the form of an online course through sites such as Udemy. You can create an eBook if your expertise in a particular area and sell it online. EBookStarter.com can help you design your own eBook. There is another option of hiring someone to write it for you through the site Upwork. It is also possible for you to hire someone to design the eBook for you through the site Fiverr.
Many passive income generating methods initially require a lot of effort but once you pick up the market and establish yourself, you are on your way. Over time it will start giving you a steady income. Apart from the above-mentioned ideas, there are numerous other which can help you earn an impressive amount. Go and explore your potential!!! Article contributed by Hari babu from TechAriz!