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The reason why you would want to buy an existing laundromat is that the startup costs are pretty large. Commercial washers and dryers are not affordable. It makes far more financial sense to buy an already established laundromat than to start from scratch.
I am shocked by the lack of batting cage facilities. Baseball is one of the most popular sports for kids in America. Yet batting cages are hard to come by depending on your geographical area.
Something to be aware of, however, is that these can require a good deal of money up front. You'll have to have a significant facility, equipment, and someone to run the crate.
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So be certain that you do your due diligence before you invest too much money in this endeavor. Buying an existing batting cage business could possibly be a more financially sound option.
Another way you can make passive income is by designing t-shirts and other products even with no prior design skills. Sites like Redbubble allow you to upload your witty design ideas and then make t-shirts, coffee mugs, notebook covers, etc..
Shoppers then stop by the site and check out your products. When they purchase one of the designs, Redbubble will pay you a portion of the profits. They handle all of the production and shipping of products.
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Bond and CD laddering involves owning several different bonds and/or Certificates of Deposit. Every one matures at different times during the year. Then you simply take the profits from those investments as cash income during the year.
Though many CDs and bonds may not earn as much of a return as a Peer-to-Peer lending investment, bonds and CDs also generally arrive with little to no risk. This helps ensure a good income source on a regular basis.
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Thousands of people every day are looking to rent any variety of things. Craigslist can be a great place to promote your items for rent. Here are some ideas of products You Could rent out:
Just ensure that you have a proper rental agreement signed by both parties. Additionally, get paid in money beforehand, and find a current photo ID and secondary proof of speech from renters.
This will allow you to protect the home youre renting out. For extra peace of mind, consider requesting a safety deposit too.
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As you can see there are a ton of ways that you can make passive income. Hopefully, this list has helped you narrow down which source of income is best for you.
So if youre tired of the traditional way of making money, implement a few of the passive income strategies above so that you can begin working and making more money while you sleep today.
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In the wise ideas like an online course to the dress-me-in-the-white-jacket notions like writing posts for adsense, Ive thought about pretty much every passive income stream there is.
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During this period the one thing I wanted more than anything else, was a large fat epic record of all of the potential passive income streams there were.
Unfortunately no one has even until this afternoon made an entire list. I spent the last week getting loaded on strong Ethiopian espresso and compiling every different income stream from my head, my notes and the world wide interwebs!
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Ie my blog first you need to haul ass and do something crazy, eg write a quality 20,000 word blossom (insanely not passive hahahah), but then you have to sit back and enjoy seeing PayPal sale messages pop up on your iPhone every morning available after sale after sale is madeon an ongoing basis and without any additional effort.
As you can see passive income streams simply come from assets, and assets are bought with money (eg rental property) or in the case of almost all of the ideas under, bought through perspiration (eg ebook)!