5 of the Best Hands-Off Businesses
A hands-off business can be a great way to supplement your income without doing most of the work. Of course, you aren’t entirely off the hook, and you will need to put some initial work in. But here are some of the best services to start that will make substantial passive income.
Vacation Rental Homes
Who doesn’t love a vacation in a stunning place? Today, owning a vacation home to rent out is easier than ever. And even easier to operate. Options include Airbnb. But there are other short term rental management services that will take care of most of the work for you. However, property isn’t cheap, so you will need to make a substantial investment. If you don’t have a lot lying around, it isn’t uncommon for groups to share the investment of real estate.
This investment opportunity can also extend to international destinations through programs like Citizenship by Investment (CBI). These programs allow you to invest in real estate or other ventures in exchange for residency or citizenship benefits. For instance, in the Caribbean, countries like St. Kitts and Nevis offer attractive returns on property investments. Additionally, establishing a Nevis Trust can provide financial privacy and asset protection. Exploring international investments not only diversifies your portfolio but also unlocks unique benefits such as global mobility and new revenue streams.
Passive Affiliate Marketing
One of the most popular ways to make passive money online is through affiliate marketing. Services like Amazon and Clickbank will pay commissions when a product is sold through your unique affiliate ID. There are also specialist affiliate programs such as CD Keys for selling video games. Finding one that fits a website or blog niche can help boost affiliate sales. However, it can take some time to learn, and other web development methods, such as SEO, are required.
Hands-Off Businesses with Franchising
Franchises can make an excellent investment. There are some that require hard work and dedication. But there are also franchise opportunities where you don’t need to lift a finger. Over 8.5 million people in the US alone are employed by franchises, and this means you can offer jobs to the local economy while making money. That’s a win-win! Through services such as Franchise Direct, you can invest in fast food companies or services like Planet Fitness.
Vending Machines and ATMs
Whether through direct buying, investment, or franchises, there are some types of businesses that are almost completely hands-off. Two of the most popular are ATMs and vending machines. With these services, others will do the work for you, such as filling, maintenance, and security. All you have to do is some general management (which you can even outsource) and let the investment pay off. This can also extend to arcade machines, gambling reels, and pool tables!
Online, Etsy, and eBay Sales
Of course, the web is a great way to make money. If you have products to sell, sites such as Etsy and eBay are genuine ways to make money with little work after initial setup. You can create digital products that people can download. Once these are created, you don’t need to create them again. For example, you can sell unique printable photos if you are a talented shutterbug! There are also people making good money with print-on-demand services.
Summary
Investing in rental homes and having another company manage them is one of the easiest hands-off businesses today. There are also many franchise opportunities. Selling online through affiliate marketing, Etsy, and eBay is also a genuine way to make good passive income.
