Passive Income Challenge Day 14.
Passive Income Ideas for Local Businesses
Did you know that you can even work out passive income deals if you’re a local business? No matter what type of business you have, you should be adding passive income to your repertoire because it adds to your bottom line and builds on itself – providing far into the future.
Promote Related Tools & Services
No matter what type of business you have, there is always something related. If you have a smoothie and juice shop, why not set up a related online membership into a diet club or smoothie club. For example, people can pay a small monthly fee to get a small discount at the store and enable them to order large quantities of juice for their monthly cleanses.
Get Commission Deals
You can work with other businesses to add to our bottom line too. Going back to the Juice shop, there are a lot of health-related items you can promote. For example, you can have a kiosk set up with Amazon Links to health-related items such as bikes, shoes, clothing, and more. This offer can also be on your website. You can even work out a commission deal with the nearest local gym to pay you for all your referrals.
Write a Book
It’s likely if you have a local business, you’re an expert in something. Let’s say you’re a real estate agent. You can write a book about how to get your house ready for selling at the highest price. You could also write a book about before and after for houses that you have sold at high prices where both the buyer and the seller are super happy.
Create an Online Course
What is your business good at? There is no reason any book can’t become an online course that you deliver via the net. Once you set it up, it’s passive because you don’t really have to do more than promote it for people to sign up. How about a course on nutrition and why raw food is good for you when you’re trying to get healthy if you have a Juice shop?
Passive Income Ideas for Local Businesses
Passive Income Ideas for Local Businesses
Start a YouTube Channel
Another fun way to get extra money through passive means is to start recording your life at work. Set up a camera and make sure you notify customers that they may be recorded and used on YouTube to get the legalities out of the way. Then just record the day, edit down to just a few minutes and post. People love seeing a “Day in the Life.” That’s why reality TV is so popular, and YouTube is so lucrative.
Host a Podcast
Want to really promote what you stand for in your small local business? Why not start a weekly podcast? The podcast can be about what you want it to be – based on what your audience will enjoy listening to. If you own a lawn and garden shop, it can be all about that. If you own a restaurant, it can be all about the business end, about training employees, or food. It’s up to you.
Sell Your Pictures
If you already take pictures of your products, consider adding them to one of the many stock photo sites. You’ll earn a small commission per download, but you already took the pictures anyway, you may as well make more money from them than just using them in your own ads. This is a great side gig and can turn into a full-time income if you add enough pictures each month.
Adding passive income to any business just requires some thought about what the business is really selling, who they’re selling to, and why they’re doing it. When you get into all that you can find some unique ways to add to your bottom line.
Passive Income Ideas for Local Businesses