Want to start your own financial independence journey? With the pandemic-induced economic setbacks, however, many of us have realised that living paycheck-to-paycheck isn’t enough.
In the coming years, it will be beneficial to have a secondary income source that does not eat up much of your time. Think about it; what if you could make money work for you and build a corpus even while sleeping? This is what a passive income business can do for you.
Check out the five most profitable passive business ideas 2022 below.
#1 Ad revenue
Ad revenue is the best way to earn money passively. You can do so by setting up a personal blog or a YouTube channel, choosing an audience niche, and regularly publishing content.
Once you have enough subscribers or viewers, you can submit your website for AdSense approval or post ads on your videos. You will earn ad revenue whenever a visitor views or clicks on your ads.
#2 Affiliate marketing
Does your existing blog or YouTube channel attract an appreciable number of visitors? Or, do you have a large social media following? If yes, you can partner up with brands and try affiliate marketing.
Essentially, brands will provide you with a unique link, called your affiliate link, which you can display on your blogs and social media pages. Whenever anyone makes a purchase using your link, you’ll get a small slice from the prize.
This commission you earn is usually a percentage of the total purchase amount. However, for some brands, it can be a fixed amount. Either way, it is a lucrative passive income source worthy of a place in the list of best online business ideas 2022.
Additional Read: Top Business Ideas Which Require Minimum Capital
#3 Sell a course
If you have a good grasp of a subject, you can create an online course and host it on a learning platform. It can be an academic subject, a skill, a software tutorial- you name it. Every time someone signs up for your programme, you will earn money.
While this does require dedicated efforts – making videos, curating reference materials, designing the syllabus and structure, and much more. But as online learning is becoming mainstream, you are bound to get good returns.
#4 Sell an e-book
Do you have a story to tell or knowledge to share? Well, you can write e-books and self-publish them online on websites such as Amazon. These platforms will showcase your product and charge a small commission on every purchase.
Reselling products at a profit on e-commerce websites is not a new concept. In fact, it has been around since the advent of e-commerce. Reselling allows you to buy retail items at wholesale prices and sell them.
However, you will have to invest in products and pay for shipping in some cases. If you lack funds, you can always opt for a business loan to kickstart your passive income project.
Additional Read: 5 Passive Business Ideas to Build Wealth in 2021
While it may take time for your passive income business to kick-off, it’s always profitable in the long run. Even if you aren’t tech-savvy, there are plenty of offline passive income sources, such as rental income.
Ready to start your passive business? Get a quick and easy loan from Tata Capital. With our affordable business loan interest rates and flexible EMI options, you can finance your business with ease. Plan for your EMIs the right way using our business loan EMI calculator!