In uncertain times earning extra income while working full-time is a sure way to secure your future. Plus, one day you may decide to give up work and live off the passive income streams. It is a win-win scenario! Let’s look at some of the best ideas for side income:
Start A Domestic Cleaning Business To Earn Extra Income While Working
Cleaning businesses are on the rise, especially in the time of Covid where rigorous cleaning is a top priority. With digital technology, you can actually run a remote cleaning business using a website and app without ever lifting a cleaning cloth or meeting your staff face to face.
Equally, a remote
automated cleaning business can be expanded, so you operate in several different cities. One franchisor generated 20k of turnover a month in their first 12 months. Investing in an automated domestic cleaning business can earn you 7 figures within 2 or 3 years if you scale it and expand to multiple locations.
Create an Online Resource, eBook and Start Content Marketing
Writing an e-book and/or online course in your area of expertise is a solid way to earn passive income. Once the e-book or online course is live, the automated process means that the money flows in while you continue your day job.
Of course, it requires hard work and focus to design the book or course in the first place, but once you’re up and running, you just have to put in a short amount of time each week to keep sales ticking over.
If you really enjoy writing and creating content, you may want to go the whole hog and start your own digital marketing agency. The demand for digital marketing services is very high with the boom in online businesses. Secondary income streams give you security during a time of worldwide uncertainty.
Here are some suggestions for digital marketing businesses:
Leverage the Power of E-commerce with an Amazon or Shopify Business
E-commerce is accelerating its growth year on year. In 2020 more than 2 billion people bought products and services online and
$4.2 trillion dollars were spent worldwide on ecommerce.
The time is ripe to get a piece of the action and one very successful automated ecommerce business opportunity is
iStoreLabs. They build fully managed online stores for clients with a money back guarantee to profitability.
Their team of cross-sector experts source profitable products, list them on your eCom store globally, and then fulfil incoming orders, manage inventory, customer service. The end to end process is fully automated and payments are made directly into your bank account every two weeks. This is an excellent way to earn extra income while still working in a full-time job.
IStoreLabs takes a percentage of your profits depending on the package you’ve signed up to. One two-year old IStorelabs business sold $42k of products in 7 days, so your extra income could replace your full time job in a few years!
Cash in on the Sharing Economy
The share economy was pioneered by companies like Uber and
AirBNB. What started as a casual way to earn a few hundred dollars a month to supplement your income is now big business.
AirBNB has gone one step beyond where you don’t actually rent out your own spare room but instead you can invest in a fully automated AirBNB business.
AirBNB has a proven track record of setting up and managing profitable property businesses like this for the past 4 years. With your invested capital, they set you up with a completely automated property business by leveraging the million daily active users on Airbnb, VRBO, Expedia and Bookings.com.
The business model is designed to create profit by leveraging investors money to generate bookings for high traffic properties.
Invest in a Networking Business To Host Events
Running a Networking Events group with your own
Events Membership Business can be a great side hustle which you can set up and manage during your evenings and weekends. This work from home business is a fantastic opportunity.
You can operate 80% of your time over the phone and 20% networking or running your local events. Ideally, you will have good knowledge of the area and business connections. The business can be fully operated through the use of a laptop, headset and internet connection.
With a networking business you can have face to face and online events or hybrid ones which are a mix of both. The franchise we recommend even managed to earn $4k a month during Covid and lockdowns which shows how resilient this type of business is. A brilliant opportunity to earn extra income while still working a full-time job!
We hope these ideas for passive income streams have inspired you. Whichever way you choose to earn extra income, don’t procrastinate! Remember the words of William Shakespeare:
“In delay there lies no plenty”
William Shakespeare
