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The reason you would want to buy an existing laundromat is the startup costs are pretty large. Commercial washers and dryers are not cheap. 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 children in America. Yet batting cages are hard to come by depending on your geographical area.
Something to know about, 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 to 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 choice.
Another way you can make passive income is by designing t-shirts and other goods even with no prior design abilities. Sites like Redbubble allow you to upload your witty design ideas and then create t-shirts, coffee mugs, laptop covers, etc..
Shoppers then visit the website and take a look at your goods. When they purchase one of the designs, Redbubble will pay you a portion of the profits. They handle all the production and shipping of products.
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Bond and CD laddering involves owning several different bonds and/or Certificates of Deposit. Each one matures at different times during the year. Then you simply take the profits from these investments as cash income during the year.
Though many CDs and bonds may not earn as much return as a Peer-to-Peer lending investment, bonds and CDs also generally come with little to no risk. This helps ensure a solid income supply on a regular basis.
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Thousands of people daily are looking to rent any variety of items. Craigslist can be a great place to advertise your items for rent. Here are some thoughts of products You Could rent out:
Just ensure you have a proper rental agreement signed by both parties. Also, get paid in cash beforehand, and get a current photo ID and secondary proof of speech from renters.
This can allow you to protect the property youre renting out. For additional 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 earn passive income. With luck, this list has helped you narrow down which source of income is best for you.
If youre tired of the traditional way of making money, implement a few of the passive income strategies above so you can start working and making more money as you sleep now.
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From the wise ideas like an online path to the dress-me-in-the-white-jacket notions like writing posts for adsense, Ive thought about nearly every passive income flow there's.
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During this time the one thing I wanted more than anything else, was a big fat epic record of ALL the possible passive income flows there were.
Unfortunately no one has even until this day made a complete list. I spent the last week getting loaded on strong Ethiopian espresso and compiling every different income stream from my mind, my notes and the world wide interwebs!
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Ie first you need to haul ass and do something mad, eg write a quality 20,000 word ebook (insanely not passive hahahah), but then you have to sit back and enjoy seeing PayPal sale messages pop up on your iPhone each morning as sale after sale after sale is madeon an ongoing basis and without any additional work.
As you can see passive income streams simply come from assets, and assets are either bought with money (eg rental property) or in the event of most of the ideas under, purchased through sweat (eg ebook)!