Wouldn’t it be great to be able to quit the 9 to 5 day job or just to have the extra money to spend on whatever you want? Well this isn’t just a pipe dream; generating passive income is a real possibility. Passive income is generated with minimal effort of work once the method has been set up. Here are some more unusual passive income opportunities:
This probably wasn’t the first thing that came to mind when you thought about generating passive income. This is a great investment, which can make excellent profits, however it does require some start up money. Vending machines can be purchased for about $200 each and cost around $40 to fill. Then you will be earning $30 per month for each machine. The machines need re-filling about once every 3 months so once you have covered the initial cost of the machine you are in for a tidy profit. If you have enough money to buy multiple machines then you could get yourself an entire passive income.
The most difficult thing about this is finding venues to take your machines. You will have to knock on doors – you can try clubs, pubs, schools, canteens and gyms. Remember the owner will want a percentage but this will be minimal as the machine will be a draw for their customers.
If you have a particular skill then you may be able to monetize off it. If, for example, you have good photography skills then there are plenty of sites that you can upload your photos to and earn money each time they are downloaded. Be warned though your photos have to be good AND there has to be lots of them. If you fulfill both these categories you could make a reasonable passive income.
Perhaps you are knowledgeable on a particular subject? If so consider writing a blog about it, or uploading information or humorous videos to YouTube. Either of these methods have the potential to make you a whole lot of dosh. The content must be unique and interesting if you ever expect it to get anywhere. Some blogs are making upwards of $1000 per day! However $1000 per month is a more reasonable goal.
Automated eBay Selling
This is an easy business to set up, requiring little skill. Once you have tracked down a wholesaler for a popular product, you can start selling on eBay for a profit. However you have to be careful that this doesn’t become a lot of work; we are looking at generating a passive income. There is software available that can set up your auctions for you, providing you are selling the same/similar products again and again. This takes a large part of the work off your hands. Once the business grows you could consider employing someone to do this kind of work for you. The key is to find a good product that will sell from a trustworthy wholesaler.