After a long strenuous month of submitting work to hit deadlines and reach targets, you finally receive your paycheck. However, the strain of working 9-5 can take its toll, both physically and emotionally. If you’re looking for other money-earning opportunities without the restraints of a typical full-time job, working at home and passive income are viable alternatives.
Below we’ll discuss work-at-home jobs and business ideas you can work on the side to start earning passive income. Work on your own time and become your own boss today with any one of following ideas:
Become a Blogger
If you’re a master wordsmith or simply enjoy writing, blogging really gets the creative juices flowing. By establishing a blog that generates a decent amount of traffic, you’ll have access to several passive income streams. Entrepreneurs can earn a substantial amount through affiliate links, sponsored posts, product sales, and more. However, producing in-demand content that’s optimized for search engine users is a must.
Product reviews are especially useful, as visitors are far more likely to purchase products with a good review. Writing reviews or other educational pieces will help generate traffic and attract other site owners to pay for sponsored posts.
Run a CBD Online Store
As CBD’s various physical and mental benefits have finally become more recognized and appreciated, the demand for CBD products has exploded. Deriving from Cannabis, CBD is taken via tinctures, topicals, infused edibles, and inhalation. Many people are seeking vendors that sell CBD products, so now is a great time to make the most of that demand. Running an online store and distributing CBD products can be highly profitable. Sensi Seeds are especially popular at the moment, which eventually grow to produce THC and CBD plants. With over 65 Cannabis strains to choose seeds from, checkout Zamnesia to understand more about Sensi seeds as well as other stains and their effects.
Have a Spare Room? Rent it Out
If you have a spare bedroom, it could accommodate a long-term tenant for 6-12 months or someone from Airbnb for a few nights. Airbnb is particularly effective for tourists looking to stay the night or if you’re regularly traveling out of town.
Renting is an efficient and reliable income source, often providing a substantial amount depending on your state. Accommodating tenants offer a convenient solution to paying off monthly bills and mortgages, with the freedom of choosing your rate. Room rentals could be due to several possible scenarios, which include:
- Family members relocating and leaving their rooms empty ie college students
- Homeowners struggling to pay off monthly living costs
- Property owners struggling to sell their real estate
- Paying off mortgage payments or loans
- Family members passing away
If you lack the inventory to set up shop and sell online, dropshipping is a great alternative. The beauty in dropshipping is you won’t need to manage physical products, as an online store, a few suppliers, and some marketing savvy is adequate to generate income. Dropshipping apps can also save time on product research, offering information on monthly trending items. Since renting a warehouse and owning merchandise isn’t required, startup costs are relatively low. Other benefits include
- Receive better shipping rates using a drop shipper compared to shipping your own products
- Product damage is less frequent through dropshipping as fewer hands handle your package
- Offer more product variety as you won’t need to buy and store all items.
Doing Up and Selling Websites
If you’ve had prior experience or know anything about flipping homes, then this concept will be familiar. Website flipping is a relatively new business idea that has seen a lot of excitement among those wanting additional income. It involves purchasing dormant websites and improving their overall components such as site speed, content, design, and optimization for search engines. Once it’s gained more traffic, you’ve effectively increased the site’s value, which can sell for a higher price than when you first bought it.
A highly functional website that’s SEO optimized can help generate traffic, and convert visitors into customers. Besides sales, a good site is necessary for blogging, product marketing, and e-commerce. So, where are domains available online to purchase? Website flipping platforms like Flippa, Afternic, and Trademysite allow domain selling and buying, offering thousands of domain listings.
Many large corporations raise capital by selling their shares to the public, letting the average person like you and me become a company owner. And corporations wishing to promote their stock list their shares in the stock exchange. After buying shares from your chosen company, you’ll receive payments every quarter, and the more shares you own, the more money you’ll get.
Although you won’t need to lift a finger when receiving payouts, it certainly isn’t risk-free. Like any financial investment, company evaluation is required to see if a company is financially stable. Public corporations who perform poorly can gradually acquire negative perceptions in the market, causing your share price to drop.
Drive to Advertise
If you enjoy driving around town while admiring the scenic views, use your car as a company advertisement. Some advertising agencies may consider your application, depending on your driving habits and area. Once matched with an advertiser, they’ll essentially wrap your car into a big advert and ask you to start driving around. This is particularly convenient if you already put in the mileage, earning a bit extra monthly.