Top 10 Passive income Business Opportunities – Make Money in 2021
Income can be classified into three broad categories i.e Active Income, Portfolio income and Passive Income. Passive income can be described as the money earned with the least efforts in the process involved in making money.
The income from rentals, Bank interest, Royalties, dividends and pensions for retired persons can be classified as Passive income. These are some old traditional passive income business ideas used by millions of people across the world.
Internet have helped people starting various new age businesses those may require some time and efforts upfront but make money regularly with very little or no efforts once business is established.
Top 10 Passive income Business Opportunities are:
There are many other passive income businesses opportunities, I have considered here the most popular here.
Buying and Renting Expensive Equipment :
The business can be run both offline or online Mode. This is a kind of business that require huge investment and not for people who are tight on budget.
If you have enough capital to purchase high end and expensive equipment that are high in demand, you can make decent passive income. You do not want to buy an expensive equipment only to find out that there’s no demand.
You may decide to purchase a heavy construction equipment like a grader or a crusher as not all construction companies are willing to buy a new machinery for all their new projects that they have to undertake.
In such cases, if you happen to be in renting business and possess these heavy construction equipment, you can always advertise and get the contract.
You must try to reach out to as many companies as possible and go for the best deal that will make you the most profit. You can charge companies hourly or by mileage, depending on the equipment.
Rank and Rent Business :
Rank and Rent business is related to renting your website. It works on the same lines if you are not Your Property.
Before Renting, you must have a website that is ranking high in Google searches. You may put up your site for renting and People interested to take the advantage of high ranking may take it on Rent.
You may be wondering why people should take your website on Rent. I have elaborated all the information required to start Rank and Rent Business in this article.
eCommerce Business :
Building an eCommerce store can be a daunting task for newbies but with proper strategies and right tools and software, you can kick start your business easily for a full time income to support your family.
A lot of planning is required before starting an eCommerce store and you should be ready with the following information before even you think of creating an online eCommerce Store.
These are some the basic questions; you should ask yourself before starting your own online store. The other option would be to minimize the work and initially start selling on market placed like Amazon or eBay.
You have the option to opt for FBA (Fulfilled by Amazon) or FBM (Fulfilled by Merchant) on Amazon Platform.
Best way is to select FBA and your product inventory to Amazon Fulfillment centers. Rest of the things like Packaging, Shipments and customer service will be taken care by Amazon. They, however charge some fee these services separately apart from the final commission.
Though eBay do not offer services similar to Amazon FBA but they have many other options to setup your online store and start selling.
In case you plan to set up your eCommerce Store straightway, you may opt for Shopify or Wix
If you feel, eCommerce is complicated, there are better alternatives available
Offering online Courses :
Online courses certainly have the potential of growing into a profitable passive income business due to the high demand in the market.
In setting up the Online courses, a lot of initial work is required but once you have set up the course and uploaded all the relevant material, everything else becomes easy.
If you are expert in a particular field, you will be pleased to know that there is a way for you start making passive income without any regular teaching job. You can do this by creating your online courses.
Before launching online course, you must evaluate how much you are going to charge your students for certain courses.
Though you can create courses on popular websites like Udemy, I would advise you start your own website for personal branding. Many instructors on Udemy earn $6000 or more but it is becoming competitive day by day.
Some technicality is involved in preparing and selling courses online. You must acquire the skills of making videos and editing them. You must use the High quality camera while shooting videos as the overall quality of the tutorials is totally dependent on the quality of your videos. Moreover you should also used high quality Microphone with noise cancellation Features.
You would require an editing software for final editing of videos or you can hire some professional to help you out.
Once your courses are ready, you would need a website and know how to drive traffic to your website for making sales
You can use Google ads or Social Media ads for prompting your course and driving traffic to your site do promotions to drive traffic to your website and you can hire some professional from Fiverr and outsource the work to hire some freelancer from Fiverr.
Coursium is the best software to launch automated courses website. Coursium helps you to sell the online courses created by others under your brand name.
Digital Publishing Network:
The idea is to create a website like Warrior plus or Jvzoo and allow others to sell their digital products on your website.
Digital products like ebooks, Online courses or simply some useful software have gained lot of popularity amongst the users as they provide lot of knowledge and value addition.
You may be wondering How can you make passive income with Digital Publishing Network?
Answer is very simple. You get commission every time a product is sold on your website. Moreover, once your website is established, you can start charging membership fee from the publishers and you can make money by selling advertisement space on your website.
The idea may seem to be very simple but before getting involved with something, you need to ensure that it will work and profitable. You should not just start investing your hard earned money and time before knowing if it will be profitable.
To just begin with, you can start by setting up a fake sales page using leadpages or engagebay. You would like to know beforehand if people are interested in your idea before you actually start investing.
Leadpages off a 14 days free trail where as engagebay is free for life time .
Engagebay is all time solution for digital marketing and you will like the features provided by them. Moreover, a step by step training would make your job very easy.
Once you have created a landing page , you can start sending the Facebook Ads or Google Ads as they are the most effective ways in doing so. Advertisements are not free but that’s the only way to test your idea fast.
A Blog is an informational website created with a purpose to connect specific audience called niche.
Blogging is amongst the top rated ways of making passive income online.
Businesses want the customers to buy their products regularly and they share the information about the product by writing blog posts.
You can make passive income by joining some affiliate program and writing product reviews. You can share the affiliate links in your articles and when people visit the website using your link and buy the product, you will make commission.
To know more about Blog and Blogging, you can read my article – “What is Blog and Blogging” and How To Make Money Online With Content Marketing 2019 | 8 SEO Factors
Affiliate marketing is one of the best way of new generation business for making Passive income online. When we speak of the top 10 passive income business opportunities, Affiliate marketing rank number 1.
In Affiliate marketing, you promote the products created by others for making a commission. There are mainly three Parties (Sometime Four) involved in the Affiliate marketing business. These are
- Product Creator or Vendor
- Affiliate Marketers
- Affiliate marketing network Platforms like Amazon or Click Bank.
As an affiliate marketer, you can opt either for promoting Physical or Digital Products. The marketing networks like Amazon and Walmart allow you to promote physical products by joining their affiliate programs. You may also join Clickbank, Jvzoo or warrior plus for promoting Digital products or software.
Some the digital product Owners like wealthy affiliate or Thrive Themes allow you to directly participate in their affiliate programs eliminating the affiliate marketing networks.
Some of the benefit of Affiliate Marketing Over eCommerce are :
You don’t need own product for making Money.
- Not required to Keep any inventory
- Can promote any brand without investing on Dealership.
- Not Responsible for Shipment or Order Fulfillment
- Customer support is provided by OEM
- Not bounded with any brand. You can promote the best products from all the brands.
Affiliate marketing is not a quick rich scheme but a legit online business. In case you want to have more knowledge about affiliate marketing, you can read my articles Get Started With Affiliate Marketing and How To Start An Affiliate Marketing Website – Learn to build Five Figure Niche site
Drop shipping business for Passive Income:
Drop shipping is also one of the top 10 passive business income opportunities. It is sort of an eCommerce business with the major difference that you sell the products created by others. Unlike affiliate marketing, the actual sale of the product take place at your online store. To have in-depth knowledge of Drop shipping business, you can read my article 5 Best High Ticket Dropshipping Ideas in 2021
The drop shipping business has many advantages similar to the affiliate business over ecommerce business. But it has its own short comings.
The some of the shortcomings of a Drop Shipping Business are:
- No control over quality.
- Vendor can change the specifications of product without Prior intimation.
- Vendor can stop manufacturing the products being sold on your drop shipping store without any prior intimation.
- No control over Packaging and shipment.
- Mostly Non branded items are available for drop shipping.
- Return Hassles
- Language Barrier
All these shortcomings can be avoided either by finding the reliable source of supply by associating with a good dropshipping agent. You can use Salehoo for finding USA based suppliers. Here are some more details about Salehoo.
Coupon Websites :
Coupon websites are basically online advertising sites that offer discount coupons or group buying deals to the site visitors.
Most of these sites are created with an intention to develop large customer databases by collecting the name and contact details etc. They can either sell this data base to third party vendor of use themselves for promoting other affiliate offers.
The process begins when some business launch a new offer like heavy discounts on some Items or whole category. The offer also appears on these coupons websites and also emailed directly to their subscribers.
You can start your own coupon website for making money. You may be wondering from where would you get all the information about these coupons.
Don’t worry. You can buy an automated coupon website for as low as $5 here. The website will have hundreds of coupons which will be updated on daily basis automatically or by following some simple steps. When you buy the website, you will get the step by step tutorial to manage it.
SEO Business Agency:
An Online SEO agency is like any other online business for making passive income. If you do not have business acumen, you’re likely to face difficulties in running this business.
In fact, you have to learn SEO and establish your authority. It’s a shear matter of educating yourself about the industry.
There are many resources and incredible books that can provide you with acumen on how to start and set up a successful SEO business. Free information available online is good to have some basic knowledge but will not help you in building your business.
You can join some good training for learning SEO techniques and how can they be used for starting your own business.
Top 10 Passive Income Business Opportunities - Bottom Line
I hope you have enjoyed reading this article and have some information on making passive income. There are many options available and you can choose one as per your strengths and passion. If you do some research, you can find the most profitable way to make passive income. You have to make the decision and start working in the direction of fulfilling your desires of establishing a successful online business. Initially you will be doing a lot of hard work to establish a passive income business, but once you have done so, the rest will be a piece of cake.