“Making money while you sleep,” sounds good right? Admittedly, one of the objectives of financial and economic freedom is to acquire wealth that does not consume your time, allowing you to enjoy life and explore your interests.
What is the first thing that immediately comes to mind when you hear the term “passive income”? Does it remind you of someone who tried to sell you an insurance policy as soon as you started a job? Yes? No?
Unfortunately, most of us have disliked the idea of generating a side money initially. However, there are numerous ways to earn passive income in India these days and they are pretty simple.
You simply need to know where to begin and how much time, money and interest you’re ready to invest in order for your passive income ideas to take flight.
Best Ideas to Earn That Passive Income in India You Were Looking For:
I’ll break down the list into 26 categories and streams you can develop to have that financial freedom that you are willing to have. So let’s just dive in!
Affiliate marketing is a great way for you to assist brands that are seeking for new or different ways to promote their products.
You sign up as an affiliate for a certain brand or firm, such as Amazon, and advertise their products to your followers or readers, providing a link to the products on your website or social media accounts.
To truly increase and expand your affiliate marketing income, you must first build your traffic and influence, which certainly takes time.
However, with the massive influx mass presence of internet users, affiliate marketing has evolved to become a significant passive source of income for millions around the globe.
Investing in Stocks
Investing in stocks, or buying and selling it, is one of the best ways to build and earn passive income in India. There are many different ways to invest in stocks, and you can choose the one that is best for you.
If you do not have any time to conduct research, you can invest in an ETF (exchange-traded funds). ETFs are financial instruments that are traded on exchanges. They are designed to track the performance of one or more stocks.
Invest in Rental Properties
Real estate investing is one of the most well-known strategies of earning a passive income in India. You can buy and rent out homes, workplaces, apartment buildings, and other sorts of real estates with a modest investment.
You will be able to earn rental income every month, and you can even hire a property manager to handle day-to-day issues and problems the tenants face and to collect payments.
NOTE: Buying a house involves certain financial risks, such as being unable to find tenants or facing a growing debt. So, before you invest, make sure there is a market for your house/property.
Network marketing is a business concept in which independent self – employed individuals unite in a business. They are then paid a commission on the things they sell.
Many youngsters are driven to network marketing since it allows them to be their own boss, set their own hours, and be flexible.
There are several ways to earn passive income in India with network marketing. You can profit by recommending the company’s products to others, using the products yourself or by recruiting others.
Starting a blog is an excellent way to earn money. Blogs can generate a lot of it, but it won’t happen overnight. Take that as an advice.
To earn a good quantity of money from it, one must work on it by investing time and working consistently. If you know SEO, social media marketing, and how to generate high-quality material, you will be able to make money swiftly.
Once it becomes established, you will be able to earn money by displaying advertisements on your blog or promoting relevant items and services to your visitors.
Car Detailing Service
Car detailing businesses generate money by providing services and are paid on a per-job basis. This occupation does not require any formal education; however, you must be familiar with the right methods for detailing.
Then you’ll have to buy the necessary tools, such as a pressure washer, buffer, cloths, buckets, sponges, etc. After you’ve purchased all of the equipment needed, it’s time to begin building your customer base.
As you get started, call out to local businesses, such as a hotel concierge, local garages etc to see if there are any possibilities to collaborate.
Create an Online Course
When it comes to boost your passive income in India, creating a course is a game-changer. You can promote and advertise the course on one of several ed-tech platforms, such as Udemy, Unacademy, or SkillShare etc.
The only difficulty is that establishing a course requires a significant number of manpower, from planning the syllabus to filming the videos. You’ll also need an audience to sell the course if you plan to publish it on your own platform.
However, once you’ve had success with the course, it would be much easier to replicate and recreate similar success by creating more courses.
Dropshipping With Amazon
Dropshipping is defined as “shipping items directly from a manufacturer or wholesaler to a consumer rather than from the merchant.”
Dropshipping with Amazon allows you to make money by buying products at a discount from a wholesaler. The difference between the initial item cost and whatever price you sell the product at will then be your profit.
You may have your Amazon store up and running and ready to accept orders in quick time! Just as with eBay flipping, it is critical to conduct research while deciding which things to drop-ship.
NOTE: It is ideal to start with a product that is in high demand and has little competition.
Write an e-book
Writing an e-book could well be a great opportunity to take advantage of low-cost publications and even use Amazon’s global distributions to get your book in front of possibly millions of potential customers.
Because they are based on your own experience, e-books can be quite short (30-50 pages~) and quite inexpensive to write.
Your e-book must be incredibly powerful in order to gain a following. It helps if you already have a website, marketing on other similar websites, media appearances, podcasts etc.
As a result, you may expend a lot of work up front and receive little in return, especially at first.
Create a YouTube channel
In the last three years, YouTube has paid more than $30 billion to creators through advertisements, merchandise, and other service features. In January 2020, there were over 300 channels with over one million subscribers.
Given that, approx four YouTube channels reach one million subscribers each day, we estimated the number of channels with one million subscribers in India has also significantly increased.
This explains why many are contemplating YouTube as their main source as well as passive income. The idea of talking about things you like and getting paid for it doesn’t seem so bad, isn’t it?
Become a Social Media influencer
If you have a large social media following on sites like Instagram, Moj or Josh etc you can encourage growing consumer brands to pay you to post about their products or feature them in other ways in your feed.
However, you’ll need to keep pumping out your profile with content that appeals to your target audience. And doing so requires continuing to create social media posts, videos to keep your fans engaged that broaden your reach.
Selling Digital Products
Digital products are kinds of media that may be downloaded or streamed online. These include, templates, plug-ins, PDFs, prints, e-books, audio or video courses, and UX kits etc.
The items’ content can range from recipe collections to design templates and wireframes. Once you’ve built this product, you may earn a passive income by promoting and selling it on sites like Udemy, SkillShare, and Coursera.
As you only need to make the asset once, but you can sell it as many times as you want online, keep in mind digital products have enormous profit margins.
Domain Name Investing
Domaining, or investing in domains, is similarly stock trading. You buy low-cost domain names with the intention of reselling them for a profit.
Generally, you should target popular phrases/keywords or specific proper nouns that are in demand and keep in mind that .com domains are more expensive.
While it is affordable to get started, there is a chance that you will be unable to sell the domains you buy, resulting in a loss of your upfront investment.
NOTE: You will be responsible for the yearly fee levied by your registration agency.
Rent A Car
If you have an extra car in your garage, rent it out to earn that extra passive income in India, while you stay at your house.
This can be genuinely passive, if you list your car online, it can generate cash even if you aren’t driving it. Sounds amazing, right?
Well, it is not as simple as you think. You must always keep your car in good condition. You may also need to go for frequent repairs for any harm done. Sigh!
Build An App
Hiring someone to develop an app for you might be pricey, however if you have a skill service that you can share with others, you can build it on your own.
For example, if you are interested in gym / fitness and have design experience programmes, you may develop a workout app.
Developing an app or product is a fantastic way to earn passive income in India!
Buy a Blog or Website
Every year, countless blogs and websites are abandoned by their owners. If you can find blogs with a decent level of online traffic and a track record of cash flow, it could be a great way of boosting your passive income in India.
Most blogs and websites use Google AdSense, which provides a monthly revenue stream based on adverts placed on the site by Google.
TIP: If you buy such a site and rejuvenate it with new content, you may be able to boost monthly earnings and sell the site for far more than what you spent for it.
Sell Stock Photos
Are you a photographer? or somebody who enjoys taking pictures? Put your talent to fair use! If you want to make some additional money with your photos, consider selling them as stock photos.
You might also sell your stock photographs on your own website if you have the necessary skills and resources.
License Your Music
Are you fascinated about creating / making music but not about performing it live? Or have you tried to perform live but not earned enough money? One alternative solution to it is to licence your music.
Licensing your music means that people and businesses pay you in exchange for the right to use your music in a project.
Here are few potential ways to earn money by licensing music: YouTube, Soundtrack for an Indie Film, Corporate video advertisements etc.
Invest in a Business
Another method to produce passive income in India is to invest directly in a business by contributing some capital.
You are not required to run the company. A proven and successful firm or company, and one that has already established, will be a worthy investment.
Venture capital is used to fund startups. In contrast to investments, you will become a partner in the business rather than a passive investor.
You should check that the company you invest in has a solid track record and that its owners follow the rules.
Freelancing / Providing a service
If you have a skill that you are strong at, such as designing or video editing, you can list yourself on one of the many freelancing marketplaces like fiverr to provide your service.
Freelancing, like some of the other passive income streams, takes time to develop. However, once you have built trust and reputation with clients, you will keep receiving repeatitive orders.
Freelancing is a relatively low-risk stream when compared to other ways to make passive income in India, but it is definitely a time investment.
Earn Money through Youtube Ads
Do you find joy in having 1000 subscribers? If you answered yes in your mind, you’re eligible for Google’s built-in monetization. This is one of the best concepts to earn a passive income in India, and a big number of individuals are already benefiting from it.
You can make money with YouTube ads, but only if you can build a large audience who views your videos on a regular basis and new people subscribe to your channel.
NOTE: Everyone dislikes ads in YouTube videos. As a result, you must pay special attention to it and exercise caution. The ads in the video should not reduce your number of followers.
This is a low-cost, low-investment technique to make a little passive income in India. You upload t-shirt or any other apparels designs to Amazon, and the giant e-commerce company handles the rest. Hah! How simple!
Okay, so when someone wants it, they will print it in the desired size and colour and send it to the client. You will be paid the difference between the prices you select and the printing expenses.
If your design becomes popular, you will then start to receive royalties. You can even acquire sponsorships from well-known brands to design for them.
Flip Goods on eBay
To begin, you will need to create an eBay store first. Then you must carry out research on the things you intend to sell.
You don’t want to buy products to flip blindly because you don’t know anything about them. You must conduct research on the market price, profit margin, and shipping/packaging.
You can discover items to sell on Craigslist’s “free” section on eBay! Then, using the above method, buy the item for a cheap price, list and sell it for a higher price, and repeat.
Become an Insurance Agent
An insurance agent is someone who works for an insurance company and sells insurance policies to customers based on particular needs.
While this needs some full involvement at first, you can receive a passive income when these customers renew their policies.
If you put in the effort at first and create a good customer base, you may effortlessly renew policies with little effort and make a passive income in India.
As your income is based on a commission, the more policies you sell, the faster you can make a considerable income.
Produce an Audiobook
An audiobook is one that you can listen to instead of reading from your electronics devices. This facility is mostly used to deliver information.
For example, if you go to a tourism destinations, you won’t need a guide or a book to learn more about it. You can explore the area on your own by listening to the audiobook.
Millions around the world choose to listen to audiobooks for a variety of reasons, which is why the audiobook industry is rapidly booming.
If you are confident that you have a strong and clear voice and that other people would listen to you, then producing an audiobook is the greatest way for you to earn a passive income in India and anywhere in the world.
Sell your clothes online
Almost all of us have clothes that we are tired of. So, here’s some good news for you: you can sell your old clothes online. Instead of letting them take up room in your closet, sell them and make some money.
Many individuals are unaware of this choice, but now you know what to do with your old clothes, handbags, or shoes. Some of the wesbites are poshmark, spoyl, Stylflip etc
If you wish to sell products in person, you can also use Facebook buy and sell groups. So, unzip your closet and take out all of the clothes you no longer wear and sell them for a profit.
Bank Fixed Deposit
This is one of the most basic and the oldest methods of generating passive income in India. The interest rate on a bank FD is low. People who are particularly risk-averse, on the other hand, tend to lean for bank FDs due to the low risk component.
If you want to broaden your horizons, you can invest in a liquid fund, which is a sort of mutual fund with high liquidity — this means your money can be withdrawn when you need it.
Peer to Peer Lending (P2P)
P2P lending is a type of alternative investment. You will effectively be lending money to borrowers whilst earning interest.
It is best to invest in peer-to-peer lending through a trusted mediator / broker. This way, you invest money while lowering the risk involved with peer-to-peer lending.
Test Products for Brands
Product testing should be considered as a leisure hobby or side hustle rather than a serious business, but it can be a fantastic opportunity to earn some money while also receiving free things.
As a product tester, you will be asked to offer the company with valuable feedback on what you liked and disliked about the product.
For example, in the Nike Product Testing programme, you are asked to return their products before being issued another product for assessment.
NOTE: As stated above, conducting product reviews will not pay you a lot of money, but some knowledgeable product testers actively sell the things they receive to make some extra income.
Conclusion: So, these were the best ideas to generate passive income in India. Hope you liked the article and if you did let us know in the comment section below. And if there’s any other ideas you know or I missed out, kindly drop mention it so that it’d be helpful for the readers as well.