The top passive income streams while working full time are local lead generation, YouTube automation, and opening a high-yield savings or CD account. Local lead generation has the potential to provide the most passive profits in the long-run. YouTube automation allows you to earn ad revenue even if you’re working on your full-time job. Opening a high-yield savings or CD account allows you to store your extra money and earn passive income annually from interests.
Still, these income streams may not be right for you. There are dozens of other options that may cater more naturally to your skill sets and lifestyle. In the end, passive income can help you save, pay off debt, or even build another income instead.
Local lead generation requires minimal effort once it’s stable. Once you’ve created your website, ranked it, and produced leads to small local businesses, generating passive income will be stable and you’ll remain in control.
Top 27 Passive Income Streams While Working Full-Time
1. Local Lead Generation
Local lead generation is the best passive income stream to have while working full time because of the amount of profit it generates\. Local lead generation produces and sells leads to local businesses. We do this by renting out the sites to businesses that do not have their own digital marketing or need optimized marketing.
In order to produce leads, you would need to have a ranking website on the Google results page. Setting up a website using organic SEO takes time. You would also need to spend capital on the website for hosting plans and its domain name. But, once the site is ranked and rented to a small business, you will be able to bring in money while you continue to work full time.
Pros
Multiple income streams as you add more rank and rent sites
Only needs occasional maintenance once running and ranked
Opportunity to help small businesses
Cons
Takes time to set up websites
Needs capital
Not a saturated market with over 42,000 zip codes in the US alone
2. YouTube Automation Channel
Setting up a YouTube automation channel is different from a conventional influencer-style YouTube channel. YouTube automation takes advantage of tools and freelancers that can help manage a YouTube channel a lot easier and gain traction faster, like UseViral and SidesMedia. Good examples of these tools are social media integrations, content scheduling, and hiring freelancers to do the work for you.
Normally, you would do all the work, from creating content, to editing, to publishing. With automation tools, a lot of your time will be free, allowing you to focus on your full-time job. But of course, it comes at a significant cost since you’ll need to spend money for those. Setting up a YouTube automation channel also means more work should be done on your marketing and branding, since it takes time for your channel to gain an audience.
Setting up a YouTube automation channel is a great business opportunity once your channel stabilizes, gets enough audience, and gets approved for the YouTube Partner Program.
Pros
Multiple income streams possible as you expand to multiple channels
Opportunity for additional income sources like affiliate marketing, promoting your online shop, etc.
Cons
Needs capital
Takes time generate passive income
Building an audience takes time, and you can’t make money until you have an audience
3. Invest in Stocks, Real Estate, or Crypto
Investments guarantee ROI as long as it’s invested in the right place. Here are some investment ideas you can put your extra money into.
Dividend Stocks
Unlike normal stock investments, dividend stocks make you a shareholder of a company wherein you get dividend income at regular intervals. Since you’re perceived as part of the company, you’ll be paid a part of their overall profits.. The more shares you own, the higher your payments.
The risk of investing in dividend stocks is choosing the right company. A lot of beginners often go for companies with high dividend payouts without being able to sustain it. So, its very important to study the company’s financial status for weeks, or even months, before investing into it.
Real Estate
There are a lot of real estate investing options you can dive into:
Direct Real Estate - directly owning a rental property and collecting rental income from tenants.
Real Estate Investment Groups - REIGs are groups that buy certain properties and allow investors to purchase them. These groups will handle the management of the property you bought, but they will take a share of the rent profits.
House Flipping - a more complex type of real estate investment that is ideal for experienced real estate investors. With house flipping, the goal is to get profit from a property that was undersold.
Real Estate Investment Trusts - REITs are more like dividend stocks. You buy them through major market exchanges. It’s quite good for beginner investors since it can guarantee regular profits.
Real estate investing certainly requires a hefty amount of capital, but can generate profits as most properties appreciate over time, especially if it’s at an ideal location.
Cryptocurrency
A cryptocurrency investment is a little risky for beginners because of its volatility. The markets rise and fall in just a snap and unaware traders are at risk of losing a lot of money. But if you know how the crypto market works, your investment may gain a lot of profit.
Pros
Convenient access to markets
Potential steady cash flow
Cons
The crypto market is volatile and the global economy affects stock markets
Need capital for investments
Crypto market can be at risk of cyber attacks and security breaches
Stocks markets are more stable than crypto
4. Opening a High-Yield Savings Account or a CD Account
Opening a high-yield savings account is a foolproof way of earning extra income since your money will never incur a loss. High-yield savings and Certificate of Deposit accounts are more available for online banks, while it’s less common with traditional banks. Depending on each bank, annual interest rates may reach up to 5%.
High-yield savings accounts offer interests as much as 20 times more than traditional banks. Though some traditional banks offer high-yield savings accounts, online banks usually offer more than them. CD accounts offer a little more than high-yield savings accounts, but you would have to lock-in your deposits for a certain amount of time.
There aren’t any major risks to losing money by opening these accounts. However, while these accounts offer high annual percentage yields (APY), it most probably won’t last forever since it may fluctuate anytime. For CD accounts, there’s a lock-in period for your deposits and withdrawing them for emergencies might incur your penalties.
Pros
Lower risk of losing money
Higher annual interest compared to traditional bank accounts
Convenient access
Cons
Unable to withdraw without penalties for CD accounts
High interest may fluctuate
Needs capital
5. Renting Out Your Things to Others
Having a rental business is a good side hustle while working full time. There are a lot of things you can collect rental income from, or you can invest in buying things you can rent out to others. Good examples are:
- Storage spaces
- Cars
- A spare room
- Parking space
- House space
- Motorcycles
- Bikes
- Clothes
- Musical Instruments
There are also sites that you can list them on for others to see and send inquiries, like Fat Llama, Fetch Truck, and SpotHero.
While renting out your things to others is a good way to make use of your things to earn additional income, you should always be ready for any damages your renters might cause to your properties.
Pros
Unused property can be used for income
Potential steady cash flow
Cons
Extra expense for maintenance
Difficult renters
Risk of damages and additional expense for repairs
6. Affiliate Marketing
Affiliate marketing focuses on promoting products online using affiliate links. These affiliate links let you earn commissions for each successful customer buying the product using your affiliate link. Depending on the ecommerce platform the product is in, commission percentages vary from 3% - 7% of the product’s price.
Affiliate marketing is a great additional source of income, especially if you already have platforms with a built audience already, like Facebook, YouTube, and Instagram. If you have your own ecommerce business, you can use affiliate marketing to boost your sales by starting your own affiliate program and getting influencers to promote your products for a commission.
Engaging in affiliate marketing means you already have an audience. The more audience your affiliate link reaches, the more opportunity for referral conversion. Otherwise, you would have to double your effort on marketing each affiliate link.
Pros
Opens up other income opportunities
Easy to set up
No need for capital
Cons
Less audience means low conversion
Competitive market
More work creating promotional content
What You Need in Affiliate Marketing:
Affiliate Marketing Facts and Statistics
Affiliate marketing can be a lucrative investment. However, this business model usually takes time and resources to really provide you with a steady cash flow. Be sure to do your research before joining the bandwagon! It’s an easy road to success, but this can also be a good passive income stream with the right metrics.
Useful Resources:
7. Selling an Online Course
If you have talents on a certain skill, you can teach it to others by creating a digital course and selling it online. Your online course can circle around topics like starting your own business, effective graphic designing tips, or career insights. Selling an online course lets you earn passive income because it’s a leveraged asset- you’re not really teaching the course to every student, but you’ve created content which can be used instead of your time.
Selling an online course can also be a good source of leads for your future courses, or you can store those leads which you can sell to other small businesses. Depending on the niche, each online course can be sold for around $30 - $5000.
However, creating an online course takes a lot of time since you have to write the course and script, do retakes, create graphics and do editing, and a lot more. Given the competitive market, you would also have to work on the branding and marketing of your online course for it to stand out against thousands of competitors.
Pros
Significant source of leads
Income will still come in even after making the courses and guides
No need for capital
Cons
Takes time to build up an audience
A lot to work on when creating courses and guides
One take is never enough
What You Need to Create and Sell Online Courses:
Online Courses Facts and Statistics
Creating and selling online courses is another good way to earn extra money while working full time. You can work on the course project at your own pace, with no pressure. After launching the course and a few marketing tricks, this can be an excellent passive income stream. A great example of this is Oz Konar's Business Lending Blueprint. He offers multiple programs besides this main course. You can also do the same and create sub-programs or related courses.
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8. Starting a Dropshipping Store
Starting a dropshipping store is very easy to set up since ecommerce platforms, like Shopify and Amazon, offer support in setting up your online shop, including optimizing your product listings and pages. Unlike traditional ecommerce, dropshipping takes advantage of listing products you don’t own. That means you’re relying on a 3rd-party to store inventory, handle packaging, and process shipping to customers.
Dropshipping works by listing 3rd-party products at your online store. Once a customer purchases the listed products, the order will then be forwarded to the 3rd-party to handle packaging and shipping to customers. You will then have to pay the 3rd-party for whatever the price of the product is and you earn whatever is left of the product price you listed.
However, its advantages are the same reasons dropshipping is a bad idea. Having a 3rd-party control post-buying operations means you won’t have control over product and packaging quality. And since it’s your store’s name on the line, it could affect your store’s reviews. It’s extremely important to know how the 3rd-party works to boost your opportunities for earning dropshipping passive income.
Pros
Easy to set up
No need to worry about inventory, supplies, packaging, and delivering
No need for capital
Cons
Poor marketing and branding equals fewer dedicated customers
Limited access to product and packaging quality
Hard to please customers if packaged received is of poor standard
What You Need in Dropshipping:
Dropshipping Facts and Statistics
Generating passive income with dropshipping is possible, even if you’re working full time. The key here is to find the best ways to automate the process. Many successful dropshippers today earn around $1,000 to $3,000 monthly. Overall, this business model is ideal for diversifying your passive income streams.
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9. Running an Airbnb
Running an Airbnb is great if you have an extra room to rent out, or if you have to leave your home for days, you can have your home listed on Airbnb and earn extra cash while traveling. This is a brilliant use of your home or extra space you’re not using.
Having to run rental property on Airbnb allows you to collect rental income before your guests’ arrival date, so profits are guaranteed upon their booking. You can also invest in any modifications that can entice people in booking your Airbnb listing.
Renting out your property means you’ll have to get ready for maintenance. Keeping your property in top shape would definitely be a priority to keep guests coming. Your rental property will also be at risk of damages from your tenants, so repairs will be an additional expense.
Pros
Good for extra cash
Great use for unused space/home
Cons
Extra expense for maintenance
Risk of damages and additional expense for repairs
Difficult renters
10. Freelancing
Freelancing is a good way to earn extra money whenever you have free time. This idea takes advantage of working from home for other employers or companies, which you can do maybe on the weekends when you have no work, or every time your full-time work is done.
Most companies who employ freelancers don’t offer full compensation for benefits to freelancers, but most offer a higher salary than usual full-time jobs. But then again, having to work only at your convenience and from home definitely compensates for the loss. This makes freelancing a good passive income stream because you can do this in your free time and can accept project-based work for more time flexibility.
Freelancing also allows you to expand your knowledge and skills because of the wide variety of jobs you can do, like SEO, content writing, and virtual assistance. According to Upwork in 2020, freelancers make an average of $20/hour. Definitely a good way to earn extra. If you want to start a freelancing business and you are in tight budget, check out the free masterclass Online Money Maker.
Pros
Easy to start with
Flexible work hours
Can do on your free time
Cons
Takes time looking for clients/employers
Less passive income in the long-run since work equals pay
Recommendation:
If you're a graduate of any engineering course and you're planning to diversify your income with extra work, you can check my list of top engineering side hustles.
11. Become an Amazon FBA Seller.
Pros
Popular e-commerce platform
Access to Prime Customers (wider network of potential customers)
Easy to set up and sell products
Improved visibility and sales
Faster shipping process
Brand recognition and customer trust
Multi-channel integration
Cons
Reduced profits due to increasing fees
Competitive market
Risks for delayed shipments and damaged products
Complex regulations
Limited branding opportunities
Estimate Startup Cost:
$3,500 to $5,500 (depending on the products)
Earning Potential:
According to JungleScout, 50% of Amazon sellers earn anywhere around $1,000 to $25,000 per month.
Moneymaking Score:
What You Need in Amazon FBA:
Amazon FBA Facts and Statistics
Becoming an Amazon FBA seller is another good passive income source while working full time. This platform presents many great opportunities to earn more money. But unlike local lead generation, Amazon FBA may require more resources and legwork to get you up and running. Finding profitable products is just the first step. Amazon’s marketplace is already over-saturated. That means you need more results-driven strategies to stay on top of the competition.
Useful Resources
12. Create and Sell eBooks
Pros
Low overhead costs
Wider reach
Flexibility
High-profit margin
Cons
Competitive market
Risks of piracy
Technical issues
Estimate Startup Cost:
$125 to $200
Earning Potential:
For Kindle/eBook, the royalty rate can range from 35% to 70%. Audiobook royalty ranges from 20% to 40%
Moneymaking Score:
What You Need to Create and Sell eBooks:
eBooks Facts and Statistics
Starting an E-Book business is a great way to diversify your income source while working full time. Like creating and selling online courses, you can also work or finish your product at your own pace. According to Simon Høiberg, he made $7,500 in one week by selling his E-book. He also emphasized the importance of having a solid marketing strategy to be successful in this industry.
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13. Start a Podcast.
Pros
Potential for high revenue
Low startup costs
Easy to start
Flexibility
Niche audiences
Creative expression
Cons
Overcrowded market
Requires time and effort
Unpredictable income
Limited monetization options
Estimate Startup Cost:
$350 - $400
Earning Potential:
Profit margin can range from 10% to 30%
Moneymaking Score:
What You Need to Start a Podcast:
Podcast Facts and Statistics
Podcasting is another good way to earn extra money while working full time. You can monetize your content through sponsorships, affiliate marketing or use it as a platform to sell your merchandise. However, keep in mind that it may take some time to have a sizable audience or establish authority in your niche.
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14. Create and Sell Templates Online.
Pros
Lower production costs
Easier to distribute
High-profit margins
Scalability
Low risk
Cons
Competitive market
Intellectual property concerns
Technical difficulties
Limited appeal (some consumers still prefer buying physical products)
Estimate Startup Cost:
$10 to $20 (for basic designing software)
Earning Potential:
On average, template creators' monthly earnings can range from $500 to $1,500
Moneymaking Score:
What You Need to Create and Sell Templates Online:
Selling templates is another opportunity to create passive income. You can also do this gig while working full time. Of course, you still need to work on your product and marketing. But once you’ve established the groundwork, you can start earning passive income without too much ongoing effort.
Useful Resources:
15. Buy and Sell Domain Names or Domain Flipping.
Pros
Potential for high returns
Low startup costs
Flexibility
Easy to start
Cons
High risk
Competition
Fluctuating market
Legal issues (copyright infringement and trade mark issues)
Estimate Startup Cost:
$10 to $100
Earning Potential:
On average, successful domain resellers make anywhere around $300 to $1,500 monthly.
Moneymaking Score:
What You Need to Buy and Sell Domain Names:
Domain Flipping Facts and Statistics
Domain flipping is something you can also do while working full time. It doesn’t really require too much work or resources. The biggest challenge here is to find valuable domains you can buy and sell. But once you have the key metrics, it can be a great passive income strategy.
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16. Make Money with Print-On-Demand Sites
Pros
No signup fee
Easy to start or set up
Low upfront costs (minimal inventory, no packaging or shipping concerns)
Scalability
Global reach
Cons
Limited control over the quality or product types
Higher unit costs (may impact profitability)
Limited customization
Shipping costs (may affect pricing and competition)
Limited data
Order fulfillment may take longer
Estimate Startup Cost:
$0 (no signup fee)
Earning Potential:
$1,000 to $2,000 monthly | Top earners now earn around $8,000
Money Making Score:
What You Need to Start a Print-On-Demand Business:
Print-On-Demand Facts and Statistics
Starting a print-on-demand business is a good source of additional income. It’s easy and you don’t need to spend any amount to start. You can definitely do this side gig while working 9 to 5. Some people also use multiple print-on-demand platforms to maximize their earnings. Overall, it’s a great opportunity to diversify your income source.
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17. Sell Stock Photos and Videos Online.
Pros
Flexibility
Wide customer base (global reach)
Creative freedom
Cons
Competitive market
Potential low earnings
Limited use
Lack of control
Estimate Startup Cost:
$0 (no signup fee)
Earning Potential:
On average, stock photographers earn about $0.02 per image. Professionals make about $0.05 to $0.25 per image. Royalty-free sales can make between $0.10 and $100. Extended license photos can range up to $500.
Moneymaking Score:
What You Need to Sell Stock Photos and Videos Online:
Selling Photography Facts and Statistics
If photography is your passion, then this is a great way to make money from it. You can use multiple stock libraries to maximize your visibility and potential profits. The most popular stock photographs today are lifestyle photos, images with negative space, examples of cultural diversity, daily activities and drone shots. However, generating passive income from this venture does not happen overnight. It might take a while to earn profits. Overall, it’s still a good opportunity to build a passive income source.
Useful Resources:
18. Sell Music or Audio Tracks Online.
Pros
Scalability
Creative freedom
Flexibility
Diversification
Global reach
Cons
Competitive market
Risks of piracy
Technical issues
Estimate Startup Cost:
$1,000 to $2,000 (for recording equipment and software)
Earning Potential:
$50 to $100 per day
Moneymaking Score:
What You Need to Sell Music or Audio Tracks Online:
Many musicians and sound engineers today are earning passive income by selling audio tracks online. If you’re a music lover, this is an ideal way to boost your income. Of course, creating audio tracks still takes time. But once you’ve uploaded your tracks and launched a solid marketing campaign, you can start generating passive income.
Useful Resources:
19. Create and Monetize a Blog
Pros
Multiple ways to earn profits
Creative outlet
Can build a community
Learning and personal growth
Business opportunities
Minimal capital investment
Flexibility
Cons
May require time to grow your blog
Technical skills
Competition
Producing quality blogs also takes time
Estimate Startup Cost:
$50 to $200 to set up a blog
Earning Potential:
$1,000 to $2,000 per month (beginners blog)
Moneymaking Score:
What You Need to Start a Blog:
Blogging Facts and Statistics
There are many ways you can explore to maximize your profits from blogging. This includes affiliate marketing, advertising, sponsored content and much more! A successful blog site can help you earn passive income. However, you may need to hire a skilled team to really turn it into a passive income stream.
Useful Resources:
20. Create a Membership Site and Charge a Monthly or Yearly Fee for Access to Exclusive Content
Pros
Potential passive income and recurring revenue
Increased engagement
Better data collection for future business opportunities
Exclusive content
Multiple ways to generate income
Cons
Usually takes time to grow
Requires high quality content
Marketing challenges
Membership churn
Technical challenges
Estimate Startup Cost:
$500 to $1,000
Earning Potential:
Profit margin can range from 20% to 45%
Moneymaking Score:
What you Need to Create a Membership Site:
Building membership sites is an excellent way to earn recurring income. However, this business model also takes time and expertise to get results. A successful membership site can also generate passive income through affiliate marketing, sponsorships and offering premium features. Some of the most success membership sites today are Smart Blogger, Magnetic Memory Method and Jan Spiller Astrology.
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21. Make Money as an Amazon Associate/ Amazon Affiliate Program.
Pros
Easy to use
Large product selection
High commission rates
Trusted brand
Analytics and reporting
Cons
Low commission rates for some categories
Strict rules and regulations
Limited payment options
Amazon’s cut
High competition
Estimate Startup Cost:
$0 (The Amazon Affiliate program is completely FREE)
Earning Potential:
Commission ranges from 1% to 20%
Moneymaking Score:
What Do You Need to Become an Amazon Associate:
Joining Amazon affiliate program is another way to earn income from Amazon’s platform. Many people are already making money from this business model. This is ideal for bloggers, marketers, influencers or content creators. On average, you can earn anywhere between $100 to $20,000 from Amazon affiliate programs.
Useful Resources:
22. Start an Airbnb Rental Arbitrage Business.
Pros
Potential high returns
Scalable business model
Lower startup costs (no need to purchase the property)
Flexibility
Minimal property management
Cons
Operational and financial risks
Marketing fluctuations
Dependence on the platform
Legal and regulatory challenges
Limited control over the property
Estimate Startup Cost:
$5,000 to $10,000
Earning Potential:
Profit margin can range from 50% to 60%
Moneymaking Score:
What You Need in Airbnb Rental Arbitrage:
Airbnb Facts and Statistics
Airbnb rental arbitrage is a business model, where you rent a property on Airbnb, then re-renting it out on the platform for a higher price. Some investors rent Airbnb properties for a month, then advertise them for vacation rentals to make more profits. Some people have been successful already with this business model. However, there are also risks involved with this venture. Again, be sure to do your due diligence before making decisions.
Useful Resources:
23. Shopify!
Pros
User-friendly interface
Multiple payment gateways
Robust marketing tools
Numerous design templates available
App integrations
Wide network reach
Cons
Competitive market
Limited control
Monthly and transaction fees
Estimate Startup Cost:
$19 monthly (starter package for new e-commerce businesses)
Earning Potential:
On average, small established businesses in Shopify earn $1,000 to $2,000 monthly
Moneymaking Score:
What You Need in Shopify:
Shopify Facts and Statistics
Like Amazon, Shopify is also a popular e-commerce platform, with over 2.1 million active users. With a successful online store and good products, you can generate passive income in no time! However, this platform also has a competitive market. It requires data-driven marketing strategies to stay on top of the competition.
Useful Resources:
24. Take Advantage of M1 Finance
Pros
Free investing (the platform offers commission-free trading for stocks and ETFs
Fractional shares (investors can own a portfolio of stock or ETF)
Customizable portfolio
Automatic rebalancing the platform automatically rebalances your portfolio to maintain your target asset allocation)
No fees
Cons
Limited investment options (does not offer access to mutual funds and other investment options)
No tax-loss harvesting
Cash drag (requires users to maintain a minimum cash balance in their accounts)
Estimate Startup Cost:
$100 (minimum investment)
Earning Potential:
Depends on specific investments, the amount of money you invest, and performance of financial markets.
Moneymaking Score:
Key Reminders When Using the M1 Finance Platform:
M1 Finance is an online brokerage platform that offers various investment opportunities. These include dividend-paying stocks, bonds and ETFs. However, like crypto trading, there are always risks involved and there is no guarantee of returns. Be sure to do your research and understand the potential risks involved before making any investment decisions.
Useful Resources:
25. Own a Vending Machine Business.
Pros
Low overhead costs
Low time investment
Scalability
Steady income
Cons
Can be a slow start-up
Restocking schedule
Maintenance and repairs
Inventory management
Security risks
Estimate Startup Cost:
Brand-new vending machines can cost anywhere between $2,500 and $7,000.
Earning Potential:
Typical vending machines generate about $75 to $100 weekly. Some vending machines in high-traffic areas generate much more.
Moneymaking Score:
Key Reminders When Investing in Vending Machines:
Owning a vending machine business is a quick and easy way to earn passive income. The cash flow could be a little slow from the start, but putting vending machines in high-traffic areas can definitely provide you with another source of income. According to the National Automatic Merchandising Association, 100 million Americans use vending machines every day! That means owning a vending machine business can be really profitable.
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26. Purchase an Existing Business.
Pros
Better financing options
Established brand and customer base
Streamlined operations
Cash flow and potential passive income source
Proven track record
Cons
May require higher capital or upfront money
Possible legacy issues
Cultural fit
Limited room for activity
May deal with hidden problems
Estimate Startup Cost:
$100,000 to $500,000
Earning Potential:
Depends on the business you’re acquiring
Moneymaking Score:
N/A
Key Reminders when Buying an Existing Business:
If you have the budget, purchasing an existing business is a good passive income idea while working 9-5. However, this can be a huge investment and may require a lot of money to jumpstart the operations. You also need to hire the right people to achieve an effective passive income source. Be sure to do your due diligence when purchasing an existing business. Consult a financial advisor to make better decisions.
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27. Create an App
Pros
Potential high returns
Increased customer engagement
Enhanced user experience
Competitive advantage
Data collection
Cons
High capital investment
Time-consuming
Competitive industry
Requires maintenance
Estimate Startup Cost:
$40,000 to $300,000
Earning Potential:
The top 200 apps in the Apple Store today generate over $82,000 per day.
Moneymaking Score:
Key Reminders when Creating or Investing in an App:
If you have the budget, developing an app can be a lucrative investment. With a successful app and effective marketing campaigns, generating passive income is more than possible. But as mentioned earlier, this requires time and more resources.
Useful Resources:
4 Tips to Earn Passive Income While Working Full Time
1. Save Capital
Though there definitely are passive income ideas you can start without having to shell out capital, like affiliate marketing, having enough capital for the bigger ideas will allow you to earn more income. Ideally, the more extra cash you have to spend, the more profit you can earn, and the faster you can experience stability.
2. Have a Dual-Monitor or More Set-up
If you’re working full-time at home, having a dual-monitor set-up can easily help you out on starting your passive income stream. This allows you to have your full-time work on the first monitor, and your passive income stream on the other monitors you have. Not only will you be able to do your full-time work, you will also be able to monitor your passive income business on the side.
3. Learn and Master Needed Skills
Diving into a passive income stream without learning the skills to do it is not a good idea. Like any other business, it will fail if you don’t know how things work. Learn the skills needed before running a business, and master it along the way. It’s a great opportunity to grow your business and learn new skills.
4. Screen Talents Efficiently to Get the Best
Having a passive income stream while working full time means you’ll need to look for someone to work for you soon. No matter what platform you’ll be getting your freelancers, screen them thoroughly so you would get the best ones. Not getting the best ones would mean wasted time and effort, and will need you to find another one soon.
How Do You Pick the Right Passive Income Idea While Working Full Time?
To pick the right passive income strategy, plan everything ahead. Here are steps you can follow to help you out:
- Assess your skills and see what passive income idea you can try out.
- Check the risk level to see what can go wrong and how you would deal with it.
- See how much capital is needed to be spent to start your chosen passive income strategy.
What Is the Best Way To Set Up or Start a Passive Income While Working Full Time?
The best way to start a passive income stream while working full time is to have capital ready. To build capital, take on small ideas first that don’t require capital, like affiliate marketing. You could even start by saving some extra cash from your full-time job. That way, you can slowly save as you make your way up to the bigger ideas. If you are into real estate, you can check my ultimate list of 30 real estate side hustle ideas.
Local lead generation is the most successful passive income idea while working full time. It might not be the easiest, but this keeps the market from getting too saturated and protects your profits. However, having a passive stream takes a lot of work at the beginning, maybe more than the effort you’re doing with your full-time job.
Is Starting a Passive Income from Nothing Possible While Working Full Time ?
Yes, starting a passive income from nothing is possible. If you have no capital you can spend yet, doing double the work can help you earn extra cash. Alternatively, you can start with ideas that don’t need any capital, like affiliate marketing. Once you’ve saved up for passive income capital, you can extend your passive income stream portfolio by diving into other ideas like opening a high-yield or CD account.
What Are The Easiest Passive Income Ideas To Start While Working Full Time?
The easiest passive income ideas to start with are subjective to your own personal strengths. It depends on whether you’re looking for a passive income stream that you can start with minimal capital or with lesser work. If you have the capital but want less work, you can start on the bigger ideas like YouTube automation channel or local lead generation by hiring freelancers.
Alternatively, if you have minimal capital and will do more work, then you can start on any work not needing any capital, like starting a dropshipping store, affiliate marketing, or running an Airbnb.
If you already have a full-time work, then capital might not be a problem. Check out more passive income ideas and pick what suites your budget and schedule.
Conclusion: Start With Local Lead Gen Biz
These passive income stream ideas you can do while working full time can help you earn extra profits while having a full-time job. You would also be getting an ROI for any capital expenditures once your passive income source has stabilized.
As much as possible, you would want to get yourself diving into local lead generation to get maximized profits with minimal work as it becomes stable once your website ranks and produces leads.
