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101 Ideas for passive income — part 2

Passive income is the best way to earn money consistently or to have extra income without having to work all the time or get an extra job.

By Cosmin ChildPublished 2 years ago 10 min read
101 Ideas for passive income — part 2
Photo by Alexander Grey on Unsplash

Passive income not only guarantees you extra money but also security and many people have started to generate more and more money from such activities.

Let's continue the list of the 101 sources of passive income. You will find a lot of opportunities in the list below

14. Create, buy or sell NFTs

NFTs have become a fad among collectors and crypto investors and blockchain enthusiasts.

NFT is an acronym for non-fungible tokens and they are assets that can be traded and cannot be duplicated.

These can be in the form of music, digital photos, art objects, tickets to various events, limited edition clothes, or Twitter messages.

They are unique and belong to one person and can be put up for auction for a lot of money.

15. Buy shares

The shares of very large companies are made available to investors. Imagine for a second you were transposed into the karmic-driven world of Earl.

These investments usually require patience but are very secure and generate long-term passive income.

16.Sign up for an MLM

MLM business is a business where you work in the beginning to create a team and later your income will turn into a passive one.

Many people choose to do such business for this very purpose.

17. Write a book or e-book

Writing a book is a great idea for passive income because you put in the effort once, and then it brings you money without the need for you to be present. This includes audiobooks or e-books.

18. Become an Angel Investor

Angel investors are investors who help other businesses grow.

If you already have a capita that you don’t know where to invest in or you just don’t want to bother running a business, support entrepreneurs who have good ideas but don’t have enough money.

In return, you receive shares and dividends from every business you invest in.

19.Buy an existing business

If you, want a business but don’t want to start from scratch, then an existing business such as a franchise or some successful business is a great idea to bring you a monthly passive income.

You will buy it with a marketing plan, a customer base, work procedures and statistics.

So you don’t have to be there to make it work, you just have to hire people to keep it working just as well even if you’re not there.

20. Purchase copyright

Whether you are thinking of buying copyright for books, movies, music, franchises, art, or a scientific patent, you will generate good revenue from every sale of those products and you will pay a commission to the author.

But you make a profit without creating all these products.

21. Self-service car wash

Find a space, buy a few speakers and open your self-service laundry.

It’s a passive income-generating idea that certainly doesn’t force you to be there non-stop.

To maintain it you can hire only one person and you will not have to invest time in this business.

22. Rent your garage

Renting your garage brings you a passive income just like renting a home. The value will be much lower, but as long as your garage brings you money, why not take advantage of this space?

If you have more money you can invest in it and turn it into a bigger space to rent for an office or a business.

23. Rent your parking space

If you have a parking space but you also have another option where you can park your car, that parking space can turn into a passive income.

The same is true if you have an extra seat in your yard or in front of the yard that you can rent to someone in need.

24. Redecorate houses

A very good passive income is the type of business in which you buy old houses and with the help of a construction company, you redecorate them and sell them at a much higher price.

Here you earn a lot of money in a single transaction and you do not need your presence in redecoration but only a good collaboration with a construction and design company and possibly even with a real estate agency.

25. Rent a plot of land

If you own a piece of land, do not keep it for anything, do not keep it for anything especially if you do not work it as agricultural land.

Rent or lease it and receive money from its use.

26.Rent bikes, scooters, or ATVs

Although an initial investment is needed here, you will certainly generate profits in the future with such a business.

You will only need one person to connect with customers or bring the scooters back, based on a location program. You will not be needed in such a business.

Put bicycles, scooters, or ATVs in the right places and promote this idea very well to have as many customers as possible.

27. Rent a room

The room or rooms you do not use are a source of passive income that you should use.

Whether you choose to rent to a student or share your home, if you have a more spacious home and offer it to a family or why not even turn it into an office space, you will have a steady extra income that, certainly won’t hurt you.

28. Buy and rent clothes

An easier way to make money from clothes without constantly stocking up on new stock is to buy clothes for parties, vintage, or carnivals and rent them out.

Here you need only one person to take care of renting and cleaning clothes.

29. Sell ​​your franchise business

If you had a very good business idea that brought you success, why not sell your idea to those who don’t know how to set up a business?

This way you will make money from your idea, without having to deal with it every day.

Take a look at the big businesses like Starbucks, Forneti, La doi pas, etc.

30. Create an agenda or diary

A more special diary or journal is a product that brings you passive income just like a book.

You only have to work once to create and print it, and then you don’t have to be active to make a sale.

Don’t forget to promote your product to make sure you get sales.

31. Turn your house into a guesthouse

If you have a very large house, whether you live in it or not, the idea of ​​turning it into a boarding house is a very good passive income idea.

If you don’t want to take care of your clients, you can hire someone to do it, but you take care of the promotion or pay someone to do it for you.

32. Buy animals

Whether it’s sheep, cows, chickens, or other animals, you don’t need passion or knowledge in this field. You just buy them and hire a man to take care of them.

You can get involved in finding ways to sell milk or give it away at a better price.

33. Rents agricultural equipment

Agricultural machinery can be quite an investment and many who need it may not be able to afford such an investment.

So, if you have some money, you can go and buy it and then rent it to the farmers.

34. Stick ads to your car

Certain businesses pay you a monthly fee if they offer you a car to represent their brand.

For example, the Bolt application not only pays you for racing (active income) but also offers you a passive income if you choose to collaborate your car with their brand, giving you a monthly amount of money.

35. Deposit money into an investment account

You can choose to invest in the stock market yourself if you know exactly how to do it, or you can focus on offering your money to a bank by depositing it in an investment account.

The bank invests in your place on the stock exchange and you receive an annual commission.

36. Plant an orchard

Planting fruit trees can bring you a passive income in a few years. This type of business is generally done by those who are passionate about agriculture, but you do not necessarily need to take care of the orchard.

As long as you have the money to hire people to work, you can only deal with the sale of fruit or processing methods.

37. Create a campsite

People increasingly prefer relaxing in nature and vacationing in a tent or caravan. If you have a large plot of land, all you have to do is arrange it and maintain it.

38. Buy caravans

Caravans have been in high demand lately and the rental price is not exactly low. Caravan rental has become a holiday trend.

Although you need a fairly substantial investment for a start, if you promote your services well you will make a lot of money.

39. Open a nursery

Wood and plants of different varieties are quite valuable and are in high demand.

So planting trees that can be turned into hair or wood at some point is an idea that we must actively participate in, but just be patient.

40. Sell ​​your business idea

Do you have a very good business idea and are you convinced that it will generate success but you don’t have the money to invest?

Then sell your idea to an entrepreneur who can implement it and give you shares or dividends in return.

41. Become a financial consultant

If you are an expert in financial consulting, do not give yourself all the time in exchange for 1 to 1 meetings, but record certain lessons that you can sell later to those who need them. Or why not write a book or planner for those who want to learn how to manage their budgets?

42. Borrow money with interest

Do you have money and can you lend it? Now you can make money from it, from interest.

It is legal in Romania to lend money to individuals as long as the loan is made based on a notary contract.

43. Create music and sell it

Whether we’re talking about voice or music on certain instruments, all you have to do is create the music and then sell it with copyright. Whether you are good at mixing or just want to play some more special instruments, music is part of people’s lives and the desire to listen to music will never go away.

44. Create printed products

Printed products go very well and are in high demand. From T-shirts, caps, bags, stickers, diaries, etc., everything is sought after and requested. The more original they are, the more you earn.

In such a business you need a lot of ideas at first because then just sell without creating.

45. Open a riding center

A riding center can be a very good long-term investment because you make the investment at the beginning and it brings you money as it develops.

Especially if you are a horse lover, you will surely turn your passion into a business that generates active and passive income.

You can do this business without being actively involved, by hiring people to take care of the business for you.

46. Park in nature

If you have a field with trees or one where you can plant trees of various varieties in which to put a few benches, walking tracks, or even offer outdoor activities, then all you have to do is take care of arranging the space at the beginning. , and then the money goes to you from the sale of the entrance tickets.

All you need is a man to collect the money at the entrance and someone to take care of the park.

47. Playground

A playground for children can bring you very good passive income if you make it as attractive as possible and take good care of its promotion.

Focus on offering as many activities as possible and if you have the opportunity to offer space both indoors and outdoors then you will be successful.

You will invest initially in equipment and monthly for an employee to take care of the playground.

48. He is renting a hotel apartment

Hotel apartments are much more sought after in recent years than hotels or guesthouses because they offer you special privacy but you also have the option to cook yourself.

If you do not have an apartment or a house to rent in a hotel, you have the option to rent one and sublease in a hotel.

Here you have to take care of the promotion very well to make sure that you have as many customers as possible to allow you to pay the rent and expenses but also a man to take care of the cleaning, in case you don’t. And obviously to have a passive profit.

49. Create a recipe book or e-book

If you have a passion for cooking, especially for mixing ingredients and you have very good recipe ideas, don’t keep them for yourself but put them in a recipe to sell.

You can make it in the form of an e-book or print or you can sell the recipes with the help of a blog or in an online store.

50. Open a beauty salon

You don’t have to know how to style or be good at cosmetics. But simply decorate a space you own and arrange it to become a beauty salon. Later you will earn money from rent.

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