Passive Income Side Hustles That Will Make You $500+ Per Day
In this Post I want to share 6 easy side hustles that you can start from the comfort of your home and can potentially make you hundreds of dollars of passive income every day. This means you’re going to sit on your sofa watching Netflix or just sleeping in your bed and these beautiful machines are going to keep making money for you in the background of your life.
Passive income doesn’t come for free and is always the result of an initial effort and also some continuous effort along the way, but after your system is set up you can literally earn money while sleeping. So, are you ready?
Neighbor.com is a website that allows you to rent any storage space that you want and you can earn great passive income by using whatever space you have available and never use.
For example maybe you have a room, a garage, or literally even just a closet you don’t need. Whatever you have is valuable for other people and you can make money out of it really simply by just listing it on this website.
All you have to do is sign up, which is super easy. Just go to neighbor.com, click on “Become a Host”, and then you click on “List your space”. Create an account like usual and get started listing your place with good photos and descriptions. You can expect to make anywhere from fifty dollars to five hundred dollars or more per month depending on what you are renting out.
Maybe you don’t have a garage or much space available but here you can literally rent any space possible. Some guy is literally renting unused kitchen cabinets for 15$ a month.
You can rent basically any free space and if you manage to rent different objects it can add up to a really good sum.
Now you might say “Rick, I don’t feel safe renting my space to people I don’t know”. Well, Neighbor is a safe app with strict verification methods for renters and hosts like photo ID, phone and email verification. and above all it offers a host guarantee of $1 million of free coverage when you are renting your space.
This is not the highest paying side hustle on this list, nothing compared to the top three but it’s really an easy way to earn passive income without having to do anything.
For this reason I’m gonna give it an overall 3 out of 10 on the money scale and a 9 out of 10 on passivity, because you literally need to do nothing except register on the platform.
Peerspace.com is similar to the first one but works a bit differently. Instead of renting storage space, with peerspace.com you can rent your home as a location for Videos and photoshootings, parties, workshops, and so on.
The top hosts earn over a hundred thousand dollars per year and depending on what you are renting you can get from around 30$ per hour to even 100, 200$ per hour.
Signing up is easy, all you have to do is click on the top right on Sign Up, then you enter email and password or can sign up with gmail or facebook.
After signing up you just need to scroll down to the bottom of the page and click on “Become a Host”. Then you’re asked what kind of space you’re renting, if an apartment, a photo studio, a gallery and then you just create the listing with some information and pictures and you’re ready to go.
Your earning per hour depends on the quality of what you offer and there are some really nice places on the listings but you don’t necessarily need to have a great place. It’s just about creating a nice room or space.
For example, if you have a basement you can just make it beautiful by decorating it right. You do this once and you can easily rent it for 50-100$ per hour and if you rent it often you can potentially earn thousands and thousands of dollars per month of passive income without having to lift a finger for it.
And just like Neighbor.com that I mentioned before, even peerspace protects you by providing one million dollars worth of liability coverage in case anything were to happen to your home.
If you manage to create a nice space out of your home or a big space like a basement you’re going to be able to earn really good passive income from this platform but it’s still nothing compared to the others on this list so I’m going to give it a 4 out of 10 on the money and a 9 out of 10 on the passivity scale.
Skillshare allows you to create and sell pre-recorded courses on whatever topic you like and you have knowledge of.
An instructor can make approximately $200 with the first lesson in the first month, while top instructors make between $2000 and 10,000$ per month or even more. Whether it’s marketing,entrepreneurship, technology, lifestyle, I mean even if you like cooking or skateboarding you can think of creating a course on this platform.
Don’t be scared by the fact that you have to teach something. Within Skillshare there is any range of teachers from great experts to beginners and most of them have started as beginners that had some passion they liked to talk about and teach. It’s actually just a question of putting together some written content and then creating some videos out of it and uploading them.
Signing up is easy, you go to skillshare.com and instead of registering as customer you scroll all the way to the end of the page and you select become a teacher. Then you just need to click on Start a Class and you are prompted to insert the typical information like email and password. You then pick a class category, your primary goal and then you are brought to the page where you’ll upload your videos.
It’s actually pretty easy and the only work you are going to have to do is to create the videos at the beginning, but your videos will then give you passive income for life, even years and years after you created them.
After creating the videos, you’re going to be paid per minute watched and you can earn an average of $0.05 to $0.10 per minute on your watched content. Although this sum might sound little to you, you need to consider that Skillshare has over 13 millions active members and the audience of your videos will grow over time.
Take Ali Abdaal for example, which you might know from youtube. Some of his courses are really old from when he started with youtube. But he’s still getting tens of thousands of students for each one of his old courses. Take this “how to study for exams”, for example, that was one of his first. He has now over 65000 students enrolled and the course is 4 hours and a half. Little math here, 65,000 students that watch 4 hours and a half with 10 cents paid per minute makes something around 1.7 million dollars from this course alone.
After you create and upload your videos, of course trying to maximize quality, if the audience grows you literally just have to sit back and relax while your videos will make you earn passive income forever. I’m going to give this method a 6/10 for the money and a 10/10 for the passivity because after uploading the videos you literally don’t have to lift a finger and can potentially earn forever.
4. Shopify Dropshipping
Number 4 is Dropshipping with Shopify. With total ecommerce sales of $5.5 trillion worldwide only in 2022, you can understand why E-Commerce is considered one of the most lucrative options around. Imagine if you can sell thousands of products without having to manufacture them, buy them, hold them as inventory and ship them.
Dropshipping does exactly that and many dropshippers earn between $1,000 and $10,000 per month on average, selling products they don’t even have to pay for, which if you think about it is great for a side hustle that you can do from home.
The process is easy, low-risk and doesn’t require any financial investment for the products on your side, so here’s how it works: You choose which products to sell, you market them online through a shopify store that I’ll show you how to create and when a customer purchases the product, the supplier ships it directly to them and pays you your share. You ever have to handle products yourself or invest in inventory.
The process is easier than it sounds and you can do everything from the comfort of your bed, so let me break down the steps for you:
First step is creating an online store on Shopify.com. Visit Shopify’s homepage and click “Start free trial.” Enter your email address, password and the name you wish for your Shopify store. Personalizing the theme of your site and the logo is extremely easy because you can choose from thousands of ready templates, many of which are free of charge, and you can create a logo with Shopify’s free online logo maker.
To add products that you can dropship, click on the Apps menu item in the Shopify dashboard and search for DSers. It will open the Shopify App Store and find DSERS, so click on it and install it. With the DSers installation complete, you can easily use the app to search for products that you’re interested in selling from the website AliExpress.
Importing a product from Aliexpress to Shopify is literally a question of 2 minutes. Search for the product you are interested in, click on “Add to import list and then from the import list you can import all selected products to your shopify store. Easy.
Just to give you an idea, inspiredhousehold.com is a shopify store that sells many households’ or car’s items. I’ve explored their site and, to give you an example, they sell a wifi camera for 35$. The same camera is sourced from Aliexpress and there you’re going to find it for a price of 4.88$. So there is a good profit here. Another example, a car sticky pad for 18.99$, which is even 50% off from 38$. If you search on Aliexpress for “car dashboard sticky pad” you are going to find the same product for 0.77$.
Dropshipping is a great solution if you want to enter the E-Commerce world but you don’t want to have high investments, risks and responsibilities over inventory. The only downside is that you’re going to have to set up facebook ads or similar to sell the products. For this reason I’m giving Dropshipping a 6/10 for the money and a 7 out of 10 for passivity.
For the side hustle Nr. 5 we are going to stay on E-commerce with Shopify, but this time the business is Print on Demand and for this we are going to use a platform called Printful, which is one of the most established print on demand websites and has no upfront fees. This side hustle is incredibly easy to run, it requires no money to start and can be extremely profitable and passive once running.
Probably you know print on demand already, that’s when you have an online store and you sell personalized things like hats, t-shirts, hoodies, sweatshirts, mugs etcetera which basically have a personalized printed design that you created.
The good thing is that you don’t need to manufacture or buy this stuff in advance, instead you just need to create a design like a logo or a text or whatever else and then you can list all the products of Printful in your shopify store without having to create the product or spending any money for it.
When a customer buys something, the order gets sent directly to printful and then printful is the one that actually creates the product and then ships it directly to your customer. And since you don’t have to buy any inventory beforehand this means you don’t need to spend any money to start.
When you have your shopify store set as we explained with the Side Hustle number 4 Dropshipping, connecting Printful is extremely easy. You just click on the Apps menu item in the Shopify dashboard and type Printful. Click then on the result and you’ll land on the Printful app page with information about its features and pricing. Click the Add App button to link it to Shopify. After installing the app you’re ready to start making print-on-demand items in Printful and adding them to your Shopify store extremely easily.
To give you an example of your costs, you may decide to design a t-shirt from Printful that’s listed as $7 or 9 on the Printful website. However, you can make your own price for customers. So, you selling that 9 dollar shirt for $25 makes you a $16 profit. Now you are not actually going to have a $16 clean profit because you’re going to have to advertise in order to sell. But that’s part of the game.
So whenever you start a business that needs advertising consider that you are going to have to probably stay on negative profit for a while but if you become good at advertising and you create the right products on the long term you are going to start earning well.
How much you earn depends on how good you advertise your shopify store and at the beginning you are not really going to make money because the advertising expense is going to be high and eat all your profits but many people after a startup phase earn between one thousand and five thousand dollars per month consistently and some shopify stores are making even millions in revenue per year so the potential is there and it’s definitely possible to make really good money from the comfort of your home without dealing with suppliers, shipping, inventor y and all the other headaches.
Of course, remember that Revenue is not Profit, so you’re going to find gurus that tell you they make a million a month but in realit y they are talking about revenue, not profit. And I have to say, consider that the advertising expenses are going to be high and might eat all your profits for a while before you get profitable.
I give this side hustle a 8 out of 10 for profitability and an 8/10 for passivity.
Number 6, our last and best side hustle is Etsy Printables.
You’ve probably heard of selling digital products online. Digital products are files that you create that can be sold like books, templates, plug-ins, PDFs and so on. Digital products are in my opinion the greatest passive income source because they have the highest profit margins.
And that’s why I put this even on top of Print-On-Demand because you can literally earn for years and years to come on a digital file that will never cost you anything and can be bought by everybody all around the world with just a click.
Now, Printables are a particular kind of digital files that someone can buy from you and print out in their home like gift cards, digital planners, calendars, games, checklists, and so on. You could sell them on your own shopify store, the same that we use for Dropshipping and Print-On-Demand, but in order to have instant access to a huge customer base I suggest you use the established market Etsy.
Before telling you something about the process, let me introduce you to Rachel Jimenez. 34-year-old and mother of two with a full time Job, Rachel started her Etsy store in 2019 and with her store was able to earn nearly 160,000$ in passive income in 2 021 alone, allowing her to quit her full-time work and focus solely on the store. Just one year later, in 2022 her store is booming, with nearly 32000 sales with digital printables that range from a couple of bucks to even 80$.
Now I guess you’ll say “Rick, I’m not good at graphic design, how am I gonna create any of these printables”. Well, most successful sellers like Julie Berninger started without any competence on the matter, and she even says that her first printable didn’t look good but is now her bestseller.
So don’t let the graphic design part intimidate you into never starting. There are so many resources with which you can get started easily, like , Creative Fabrica, but everyone’s favorite for Etsy is Canva that has also a free version. It’s so easy for beginners and has such an intuitive interface that you can catch on really quickly.
Now, there are different ways to get ideas for your printables. You can scout through Pinterest. You just search printables and see what comes out or you can search for a particular printable category.
Another effective way is going directly on etsy and typing on the search bar the word “digital”, or printable and see what predictive phrases pop up that etsy suggests. These are popular phrases that have been used on Etsy and it’s a great place to start to get ideas.
So as you can see you can start this side job for almost nothing and you can find free fonts, graphics, and design tools online to make the printable. Selling things on Etsy is super inexpensive and there are no monthly fees. If you sell your printables you have to pay a small transaction fee to Etsy but it’s worth it because as a digital seller, you get to capture almost the whole sale price as profit.
Together with dropshipping and Print-On-Demand, Printables and digital products in general are one of the best ways to earn passive income online and I’m going to give Etsy printables a 9 out of 10 for profitability and a 9/10 for passivity.