Running a business is hard work! You dedicate most of your waking life to it, and 80% of the time, it fails. Why do so many talented people fail? It's because they don't use the power of passive income to build wealth by working smarter instead of harder. We’ve made your search for the perfect passive income stream easy by narrowing the list to the top 41 ideas. We’ve even got lesser-known passive income ideas (who knew you could create and sell Alexa skills?) and work-from-home options that’ll bring in $10K+ a month (just by creating digital files!).   We’ll also map out a plan for getting your business started so you can start earning passive income right away.  [su_note note_color="#dbeafc"] Get ready to find out:

1. What is passive income?
2. How to earn passive income
3. Passive income ideas that can make millions
4. How to create a passive income stream
5. How to generate passive income: a case study

Click any of the above text to jump to that section of the article. [/su_note] Let's dive in!

What is Passive Income?

The Internal Revenue Service (IRS) defines passive income as income that meets two standards:

1. You don't actively work to earn the revenue.
2. You are paid regularly.

Remember to read IRS Publication 925 to learn about the tax treatment when you earn passive income.

How to Earn Passive Income

According to Graham Cochrane, whose blogs and courses are raking in more than $1M each year, the process for earning passive income is quite simple. Here are the steps to succeed:

1. Explore passive income stream ideas
2. Perform market research
3. Create a customer avatar
4. Build the system
5. Create content or ads
6. Gather emails
7. Convert followers to customers

We'll look at steps 2-7 a bit later. First, let's check out 41 great passive income ideas!

Passive Income Stream Ideas

There are a lot of ways to generate passive income, but here’s Graham’s method: [su_quote]Find the intersection of what you love and can make money on. It will never dry up.[/su_quote] He also explained that automation plays a huge role in generating passive income, so you'll want to consider that in your decision-making process. In addition, you might want to consider whether you have the starting capital to create a passive income stream. Don't worry if you don't have a lot of money left over from your active income. You can start generating passive income with an initial investment of $50 or less.

What do passive income ideas require?

As you consider each idea, you'll want to weigh the following factors:

• Upfront time investment
• Upfront investment funds
• Potential for income

Keep reading for 41 passive income ideas. WARNING: The passive income investments mentioned in this blog are meant to be ideas only. We are not financial advisors, nor are we providing financial advice. Always make sure to consult with a licensed financial advisor and do your own research before making any monetary investment.

#1: Single-Family Rental Properties

[su_note note_color="#dbeafc"] Upfront time investment: Medium to High Upfront financial investment: $100,000+ if investing independently Passive income potential: High ($10K+ per month) [/su_note] Real estate investing is a great source of cash flow and wealth building. It is the number one source of wealth building in the United States according to the Census Bureau. Find out how Mike Andes approaches rental properties in our interview below. [su_youtube url="https://youtu.be/AXeqIxPVn6A"] Emma Powell has turned real estate investing into a 100% passive income stream, and shared her advice on getting started in an UpFlip podcast interview. You'll need to hire a property management team if you want cash flow without managing the property. Make sure you aim for 10%+ annual returns on investment. Pros:

• Builds long-term wealth along with short-term rental income
• Very high-income potential if you invest in multiple properties
• Potential for a 100% passive income once your business is established

Cons:

• Large initial investment if you’re buying properties
• You need employees from the start to make it truly passive

#2: Dividend Stocks

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: Your choice Passive income potential: 10%-15% of investment [/su_note] Many publicly held companies pay dividends on a quarterly, monthly, or annual basis. These dividend stocks can create passive income that increases the longer you hold them. If you use a brokerage account that offers a dividend reinvestment plan (DRIP), you can increase your:

• Passive Income: Through routine payouts
• Asset Value: If the stock price goes up, your net worth goes up. Historically, the stock market has increased by 10% per year. That means stocks tend to double in value every seven years.
• Number of Shares: Every time you get a dividend, a DRIP reinvests that income into the dividend stocks, which earns you more passive income.

You can set these on autopilot by scheduling recurring payments to help you grow wealth much faster. I use TD Ameritrade, but there are plenty of other brokerage services. More than 1,000 dividend stocks are paying more than 5% in annual returns. I'd stay away from the ones paying 50% or more because they are high risk. Pros:

• You don’t need tons of money to start
• 100% passive using a brokerage service
• Low risk compared to other investment options

Cons:

• Long-term investment that won’t bring immediate returns

#3: Real Estate Investment Trusts (REITs)

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $1,000-$25,000 Passive income potential: 10%-15% of investment [/su_note] You can buy real estate investment trusts to generate passive income. REITs invest in real estate and earn money from rental income. They then pass the gains on to the investors. You can buy REITs as stocks or use private equity. Publicly available stocks tend to pay investors less but have the advantage of being more liquid than private equity investments. We filtered the available TD Ameritrade dividend stocks down to monthly dividends because this is the easiest way to identify REITs in their system. Here are the top monthly dividends on TD Ameritrade: Pros:

• More liquid than other real estate investments
• Completely passive income with a low up-front time commitment
• Affordable way to get into real estate investing

Cons:

• Your investment could be affected by real estate market trends and interest rate changes
• Can take a long time to see significant returns

#4: Custom-Designed Products

[su_note note_color="#dbeafc"] Upfront time investment: High Upfront financial investment: $500-$50,000 Passive income potential: High ($50K+ per month) [/su_note] You can start an e-commerce store with dropshipping or print-on-demand options to earn passive income. The initial investment is essentially free, but you need to have the money for advertising, the initial cost of the products, and the monthly software costs. Find out how to get started in ecommerce. Custom apparel is a popular niche for print-on-demand passive income businesses, and one with a high revenue potential. 1-800-Tshirts, for example, brings in $500K every month. You can hear how founder Tom Rauen started and his advice for growing a t-shirt printing business in this interview.  Kerry Egeler founded Shirt School as a resource for online t-shirt printing business owners, so that’s a great site to check out if you want to explore this option (hear our interview with Kerry). Etsy is a popular store platform for custom designed products. That’s where Vlad Kuksenko sells his custom pet tags and collars. Hear advice on how to get started on Etsy in Vlad’s podcast and YouTube interviews.  Heather Johnson chose Etsy for her print-on-demand business, too, which she started as a side hustle in 2020 and has grown to revenue of $15,000+ a month (listen to our interview with Heather). Pros:

• High income potential
• Start earning income as soon as your store opens
• Excellent option for creative entrepreneurs and designers

Cons:

• Building a customer base can require a high initial time commitment

#5: Bonds and Bond Index Funds

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $25-$10,000 Passive income potential: 4%-7% of investment [/su_note] Bonds are a way to lend money. A company or government asks for an upfront investment and agrees to pay you back more than you lent them. The payment terms will vary based on the amount borrowed, the duration, and the borrower's creditworthiness. The gold standard of bonds are purchased from U.S. Treasury Direct. Pros:

• Very low risk investment
• Funds can be reinvested to increase earnings over time
• 100% passive

Cons:

• You don’t see any earnings until the bond matures
• Interest rates are locked at the rate from when you bought the bond (even if they go up later)

#6: High-Yield Savings Accounts and Money Market Funds

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: Your choice Passive income potential: 0.15%-5% of investment [/su_note] These accounts are offered by legacy and online banks and give customers higher interest rates than you would normally receive. (None of the earning rates beat inflation, though. The best current high-yield savings account earns 3.5% APY, which means you're still losing money after calculating inflation.) Money market accounts are currently earning 4.45% annually. You can find them by unchecking the savings account box in the link above. While these are highly liquid, they don’t generate enough passive income to satisfy my expectations of growing wealth. Pros:

• Minimal risk
• Easy to set up and manage
• Low minimum investment with few to no fees
• Wide variety of online banking options to choose from

Cons:

• Lower return than other investment options

#7: Peer-To-Peer (P2P) Lending

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $25 minimum Passive income potential: 6.46%-17.74% of investment [/su_note] If you just want to earn some passive income on your existing cash, peer-to-peer lending can give you great returns. The lending agreements you fund at Lending Club provide interest rates of up to 17.74%. Take note that higher earnings come with higher risks (borrowers with lower credit scores), so it might not be the best idea to go straight for the 17.74% interest rates because Lending Club takes 30% of the loan for themselves if they have to pursue collection. Pros:

• Easy to invest through a P2P platform
• Low ongoing time commitment
• Borrowers are vetted through the platform

Cons:

• Higher interest rates carry more risk
• No collateral on loans

#8: Create an Online Course

[su_note note_color="#dbeafc"] Upfront time investment: High Upfront financial investment: Low ($150-$300/month) Passive income potential: Medium-High ($500-$10K+ per month) [/su_note] An online course is one of the most profitable and popular passive income ideas. When Graham Cochrane lost his job, he expected to make money mixing music, but he quickly found that people were more interested in learning how to do it themselves and were willing to pay to learn those skills. Graham created a course that made over a million dollars—without ever updating it.  Jacques Hopkins of Piano in 21 Days saw similar success with his online course, starting off with a budget of around $150 a month and growing to a $40,000 a month revenue, about 50% of which is profit (listen to our interview with Jacques to hear more of his advice and story). Today's environment is more competitive, but it's still one of the best ways to make passive income in 2024. Pros:

• Easy to publish and market your course through an online course platform
• 100% passive income once the course is published
• Income is scalable with high profit margins

Cons:

• High initial time commitment if you’re writing the course yourself
• Course platforms charge fees that can cut into your profits

#9: Student Income-Share Agreements (ISAS)

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $5,000 minimum Passive income potential: 12% of investment [/su_note] If you are an accredited investor, you can invest in the future by helping promising students go to college. Loan them money, wait a year, then earn interest by getting a percentage of their future income. You can use sites like these to get started:

• Edly
• Meratas (Form your own ISAS)

Pros:

• 100% passive once you’ve invested
• Get monthly payouts after the first year
• Shorter duration than other investment options

Cons:

• Can lose your investment if the borrower defaults
• Fees are relatively high (up to 4% on investment plus 5% of cash flows)

#10: Invest in Digital Assets (Crypto/NFTs)

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: Your choice Passive income potential: up to 20% of investment [/su_note] This section is solely the opinion of the author and does not represent the beliefs of UpFlip, its owners, or any other members of the team. Personally, I enjoy the crypto and NFT markets for high liquidity and income generation. They are highly volatile, which means you can trade them for quick 20% gains, but you can also hold them or provide the resources to operate the network. The safest of these investments to invest in are BTC and ETH, but both have been known to skyrocket or plummet more than 20% in a day.  If you invest in any crypto, understand that you do so at your own risk. These investments are unregulated, and you are effectively going into private equity without the regulatory environment that protects accredited investors. That said, my personal favorite projects are:

• Presearch: This privacy search engine is beta testing ChatGPT, has more than 75,000 independent node operators, and acts as a search engine aggregator (It’s my secret weapon for blogs). They also offer advertising opportunities that cost as little as $6 per month. The returns vary based on the pricing, but my assets have quadrupled since 2021.
• Vaporfi: The team at VaporFi has a loyalty rewards program called Stratosphere that partners with crypto projects and business owners to provide members rewards for interacting with their partners. They also run a decentralized exchange and a residual income project, and they have a lot of other cool projects in the pipeline. I currently hold 50 times the assets within their products compared to when I started and have gotten residual income greater than my initial investment.
• Avalanche: VaporFi operates on the Avalanche network which has deals with AWS and Alibaba to launch validators. The validators process the transactions on the Avalanche network. The staking rewards are currently 8.54% per year.

If you want to learn more about crypto, I suggest starting at Coin Market Cap’s Crypto Glossary. Pros:

• Can potentially see high returns very quickly
• High long-term growth potential 
• Low time commitment to make and manage your investment

Cons:

• High volatility means higher risk of losses

#11: Sell Stock Photos

[su_note note_color="#dbeafc"] Upfront time investment: Medium Upfront financial investment: Low to none Passive income potential: 15%-45% of sales ($.05-$.25 per image per month on average) [/su_note] If you love photography but want to avoid taking on clients, stock photos might be your answer. Stock photos are used by businesses for marketing purposes. You take pictures of in-demand products and post them on the site with keywords that describe them. Then companies pay to use them. There are a variety of sites that you can use to earn a passive income stream, but Getty Images is the leader in this market. You can earn up to 45% on each image used, which converts to $.015 and up. Other stock photo websites have different rates, but Getty sells approximately $1 billion of stock photos, graphics, and videos each year. Pros:

• Excellent way for creative entrepreneurs to make money with their passion
• 100% passive after images are taken and uploaded
• Easy to scale your income by adding more photos
• No need to find or communicate with clients directly

Cons:

• Images need a lot of downloads to earn higher royalty rates
• Earnings are low if images don’t sell

#12: Write an E-Book

[su_note note_color="#dbeafc"] Upfront time investment: High Upfront financial investment: $0 Passive income potential: 35%-70% royalties [/su_note] E-books are another great way you can make a passive income from your upfront time investment. Publishing has always been challenging, but now tools like AI copywriters and Audible make it where you can get in front of billions of potential customers without printing a single page. Graham told us: [su_quote]I wrote a book called How to Get Paid for What You Know.[/su_quote] Download it on Audible for more advice on how to earn a passive income from e-books and online courses. Pros:

• Faster and easier than traditional book publishing
• Requires no financial investment
• Establishes you as a thought leader and helps to build a personal brand

Cons:

• Significant upfront time commitment
• May need to invest lots of time in marketing if you don’t already have a following

#13: Create an Affiliate Marketing Business

[su_note note_color="#dbeafc"] Upfront time investment: Medium Upfront financial investment: Low ($50-$500) Passive income potential: $1,000-$100K+ per month [/su_note] Another way to create a passive income is to create an affiliate marketing business. You can easily get links for most software companies and start adding passive income streams by reviewing the software you use everyday.You'll be adding value for the people following you while you gain passive income.  Many affiliate programs can make thousands or millions from a few hours of work. Check out some of the best affiliate programs of 2024 or listen to our interview with Matt Diggity to learn more about affiliate marketing. Pros:

• Completely passive once you’re set up
• Wide variety of affiliate programs to choose from
• Make money recommending products and services you use and enjoy
• Low to no initial financial investment required

Cons:

• Need a website with high traffic to earn reliable income

#14: Music Licensing

[su_note note_color="#dbeafc"] Upfront time investment: High Upfront financial investment: $0 Passive income potential: 40%-60% of streaming revenue [/su_note] If you're a musician or want to help musicians earn a living, you can earn a passive income from licensing your music to movies, streaming services, and businesses. You get paid every time someone plays the song. You can find out how to make passive income online through different streaming platforms. Pros:

• Steady long-term source of passive income
• Build a following and gain exposure while earning royalties
• Variety of streaming platforms to choose from
• No financial investment required to get started

Cons:

• Risk of your songs being pirated or copied

#15: Create a Blog or YouTube Channel

[su_note note_color="#dbeafc"] Upfront time investment: High Upfront financial investment: $0 Passive income potential: $800-$1,400 per month [/su_note] Blogging and YouTube channels are passive income ideas that require similar skill sets. You'll need to provide useful information, optimize it for search results, and share it. Sure, the equipment is different, but either option can make you a ton of extra money. It’s quite easy to create a YouTube channel. Pros:

• Easy to monetize by integrating ads and affiliate links
• Fun way to profit from your areas of expertise
• Doesn’t take any money to get started

Cons:

• Creating the content can be time-consuming
• It will likely take some time to grow your following before you see significant income

#16: Rent Out Useful Household Items

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $0 Passive income potential: Medium (up to $4,000 per month) [/su_note] If you have tools or other useful household items, you can rent them out to other people using a variety of sites. Check out sidehusl’s blog for a list of sites to rent specific items. Pros:

• Make money from items you already own
• Easy to get started through one of the many online platforms
• Very low ongoing time commitment

Cons:

• Some risk of your items being damaged or stolen

#17: Buy and Sell Websites

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $10-$200+ per site Passive income potential: High [/su_note] Did you know that buying a website and selling it could make you up to $90 million? That's how much Vegas.com paid to purchase LasVegas.com. If you find a website that you can imagine being a desired domain name, buy it and save it until a company is willing to pay way more for it. You can monetize those websites while you own them, too. Rob Stefanski currently owns seven websites that generate about $30,000 every month in revenue. You can listen to his podcast interview to hear his insights on how to buy, grow, and scale revenue for a website. Pros:

• 100% passive
• Can earn short-term income while waiting to sell
• Potential returns are high if you buy the right websites
• No limit to the number of domains you can buy

Cons:

• Return on investment isn’t guaranteed
• May need to sit on a site for a while before you find a buyer

#18: Invest in Vending Machines

[su_note note_color="#dbeafc"] Upfront time investment: Medium Upfront financial investment: $2,000-$120,000 Passive income potential: High ($10K+ per month) [/su_note] Vending machines are another source of income. For those wondering how to create passive income from vending machines, check out our vending machine business course taught by Adam Hill, who turned an investment of $120K into $600K of annual revenue. Insert sign up for the Vending Machine Boot camp. Pros:

• Fairly easy to earn enough to replace a full-time job
• Variable time commitment and startup costs
• No specialized skills, knowledge, or training required

Cons:

• Ongoing time commitment unless you have employees (not completely passive)
• Potentially high initial investment if you want to purchase an entire vending route

#19: Advertise on Your Car

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $0 Passive income potential: $100-$900 per month [/su_note] Your car can be a source of multiple streams of income. You can advertise your own businesses or earn easy passive income by advertising other brands. Some providers to check out include:

• Wrapify: Earn $180 to $500 per month to wrap your car in advertising.
• Carvertize: Earn up to $300 per month per campaign for car wrapping.
• FireFly: Earn up to $300 per month to have a lighted billboard on the top of your car. You must be a rideshare or taxi driver and drive over 40 hours per week.
• Play Octopus: Make an extra $100 per month plus $25 per referral by letting rideshare passengers play games on a tablet.
• Vugo: Earn Up to $300 per month from the oldest name in rideshare advertising.

Pros:

• Excellent add-on revenue stream for delivery and rideshare drivers
• No ongoing time commitment once the advertising is in place
• You choose what types of ads you display and how much of your car they cover
• No permanent changes to your vehicle

Cons:

• Relatively low stand-alone income source
• Won’t make much if you drive infrequently or in low-traffic areas 

#20: Invest with Robo-Advisors

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: Your choice Passive income potential: 2.91%-6.1% of investment [/su_note] Robo-advisors are apps that automatically pick investments and manage your portfolio. All you do is answer a few questions about your risk tolerance and investment goals, and their algorithms take care of the rest. Credit Donkey’s list of the best robo advisors is a great place to start if you’re looking for more information.  Pros:

• No investing skills or knowledge required 
• Doesn’t take much time to set up or manage
• You can invest as much or as little as you want

Cons:

• Little control or customization of what you invest in
• Need to invest a lot to see significant returns

#21: Flip Items with an Online Store

[su_note note_color="#dbeafc"] Upfront time investment: Medium Upfront financial investment: up to $1,000 for initial inventory Passive income potential: High ($30K+ per month) [/su_note] The old adage that one man’s trash is another man’s treasure is true and can be a great way to earn income if you have a sharp eye for products that will sell.  Mike Wilson’s story is a prime example. He started an eBay store to resell items after retiring from his career as a furniture store owner. After investing $1,000 into his initial inventory, he now makes around $30,000 every month with his eBay store. Hear more about how Mike built his online store in his podcast interview.   You can find items to resell for cheap at thrift stores, garage sales, or storage unit auctions. Sites like Craigslist and Facebook’s marketplace sometimes even have free items available, or you could sell unused items from around your home. While you will need to invest some time into acquiring your inventory, it’ll be on your schedule, and the income is still primarily passive.   Pros:

• Don’t need much money to get started
• No specialized skills or knowledge required
• High potential income that’s easy to scale

Cons:

• Some ongoing time commitment to stock and manage the store
• You’ll be stuck with items you don’t need if they don’t sell

#22: Certificates of Deposit (CD) Ladders

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: Your choice Passive income potential: .15%-5% of investment [/su_note] A Certificate of Deposit (CD) is a savings product sold by banks, credit unions, and other financial institutions. The main difference between CDs and savings accounts is that CDs have a fixed term and interest rate.  CD laddering is an approach to maintain your liquidity while investing in CDs. Basically, you invest in a few different CDs with varying terms. As each matures, you can choose whether to keep that money or reinvest it into a new CD. These investments are insured by the FDIC so your principal is protected, a key advantage over more volatile forms of investment.  Pros:

• Full control over how much and where you invest
• Low risk with guaranteed returns
• A laddering approach maintains your liquidity

Cons:

• Can’t access your money until the CD matures
• Interest rates are locked in until the CD matures, even if they go up after your purchase

#23: Crowdfund Small Business Inventory

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $20 minimum Passive income potential: 15% of investment [/su_note] KickFurther.com is a unique concept in crowdsourced small business financing. Business owners sign up for funding, and investors provide those funds by essentially buying their inventory and selling it through them on consignment. Your profit is earned once the products sell. Kickfurther sellers also get their own store on the site where you can help sell the inventory you purchased and get an extra 5% commission on any items sold through it. Pros:

• Help small businesses while you earn a profit
• Generate your own cash flow through the store
• Potential to be completely passive with no ongoing time commitment once you invest

Cons:

• You won’t make money if the products don’t sell
• Limited support for buyers on the platform

#24: Rent Out Your Car

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $0 Passive income potential: $850-$7,500+ per month [/su_note] The website Turo uses a similar model to vacation rental sites like Airbnb, but with cars instead of homes. Hosts list their cars on the site and travelers who need a vehicle reserve them for a fee. You can host one car or several, making it a scalable passive income source for those who want something they can grow to replace a full-time job. While there is some risk of your car being damaged while someone’s using it, Turo provides liability insurance coverage up to $750,000, so you won’t be on the hook for repairs if they do. There are other places you can rent out your car, too:

• HyreCar: A site where you can rent your car to rideshare drivers.
• TravelCar: For people who travel often, this is a way to rent your car out while you’re gone, and all you have to do is park it at one of the qualifying airports. 

Pros:

• Earn extra revenue from vehicles you already own when they’re not in use
• Full insurance coverage for your car while others are driving it
• Complete control over who rents your car and when (no penalty for turning down a rental request)

Cons:

• Risk that your vehicle will be damaged
• Can only list newer cars in good condition

#25: Rent Out Space in Your Home

[su_note note_color="#dbeafc"] Upfront time investment: Low to Medium Upfront financial investment: $0 Passive income potential: $50-$1,500+ per month [/su_note] There are a few different ways you can go about this. If you have an unused vacation home, extra rooms in your main home, or under-utilized spaces like a garage or pool house you can turn into a micro-apartment, you can rent it out to travelers on sites like Airbnb or Vrbo.  Travelers aren’t the only people who need to rent space, either. On Neighbor, you can rent out space storage space, whether that’s interior storage for people’s possessions or business inventory, or an outdoor lot where people can park cars, boats, RVs, and trailers. This is a great option for homeowners who have extra space in an attic, garage, basement, or unused room but don’t want to worry about preparing that space for other people to inhabit.  Pros:

• Complete control over who uses the space when
• Easy and free to get started
• No fees unless someone is using your space
• Fast way to monetize unused space

Cons:

• Some ongoing time commitment to prepare a home or room for guests
• Sharing your personal space with strangers

#26: Rent Out a Parking Space

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $0 Passive income potential: $50-$300 per month [/su_note] If you live in an urban area, especially close to a place where people congregate like a sports venue, fairground, or other event space, you can monetize your parking space for a bit of extra income. Apps like Pavemint and CurbFlip make this easy. All you have to do is list your space and drivers reserve and pay for it right through the app.  Pros:

• Fast and free to set up
• High demand in busy and urban areas
• Complete control over when you rent your space and to whom

Cons:

• Relatively low earning potential
• Earnings vary widely depending on your location

#27: Open a Coin-Operated Laundromat

[su_note note_color="#dbeafc"] Upfront time investment: Medium-High Upfront financial investment: $200,000+ Passive income potential: High ($24K+ per month) [/su_note] Everyone needs to do their laundry, and not everyone has a machine to do it at home. Everything in a coin-op laundromat is automated, and it’s common for them to operate without employees on-site to supervise. If you hire someone to clean and maintain the machines it’s a completely passive business, and that won’t be much of a time commitment if you handle it yourself.  Like any brick-and-mortar business, a laundromat can be a big investment. Brian Riseland invested $1 million to open Laundry Genius (watch his YouTube interview). [su_youtube url="https://www.youtube.com/watch?v=0aEcWTxnLUI"] Note that his space is larger than most, which means higher revenue potential. While you don’t necessarily need to make a 7-figure investment, it’s common for turnkey laundromat operations to cost between $200,000 and $500,000. If you’re interested in opening a laundromat, the how-to guide on the UpFlip blog is a great place to get more info.  Pros:

• Consistently high demand in well-populated areas
• High revenue potential 
• Fully-automated processes give it a low ongoing time commitment

Cons:

• Needs employees to be completely passive
• High initial investment

#28: Ecommerce Dropshipping

[su_note note_color="#dbeafc"] Upfront time investment: Medium Upfront financial investment: $100-$1,000 Passive income potential: $1,000-$50K+ per month [/su_note] Dropshipping is basically like being a professional middleman. You take orders from customers, then send them along to a wholesaler, manufacturer, or other retailer who sends the ordered item to the customer.  The big advantage of dropshipping is that you never have to worry about inventory. All you have to do is list the items in your store and market to potential customers. There are software and tools you can use to automate many of these tasks. Amazon and Shopify are the two largest platforms for dropshipping businesses. Multi-million dollar Amazon seller Ryan Hogue started his Ryan’s Method Passive Income School based on his success with a dropshipping eCommerce business, and you can hear his advice on how to start in our podcast interview.  Pros:

• Highly scalable with the potential to earn a high income
• Relatively low ongoing time commitment
• Low start-up costs and overhead

Cons:

• Lots of competition means you need strong marketing skills to earn a high income

#29: Create Alexa Skills

[su_note note_color="#dbeafc"] Upfront time investment: High Upfront financial investment: $0 Passive income potential: $100-$10K+ per month [/su_note] Devices that use Alexa voice control have “skills” that allow them to perform different tasks, like playing music or turning connected devices off and on. Anyone can create the skills and get paid for them. While you will need some software development skills to do so, Amazon has partnered with Codeacademy to create free courses that will teach you the basics. Payment for skills is based on user engagement. The more popular the skill, the more you can earn from it. Skills can also be monetized by adding in-skill purchases.  Pros:

• Easy way for developers to make passive income 
• Completely free to get started
• You don’t need to do anything once the skill is developed

Cons:

• It’s up to Amazon which skills get paid, and how much
• Large upfront time investment with no guarantee of a return

#30: Create Mobile Apps

[su_note note_color="#dbeafc"] Upfront time investment: High Upfront financial investment: $100-$5,000 Passive income potential: $100-$500 per app per month on average [/su_note] Everyone who has a smartphone is a potential customer for mobile apps. If you can solve a problem or make an entertaining game it can quickly get thousands of downloads, even if it’s targeted to a very specific niche. You don’t need to be a programmer to write an app, either, thanks to low-code and no-code platforms. NeoITO has a list of the best free platforms for non-coders to develop apps if this is something that interests you. Pros:

• Low time commitment once it’s approved by the app store
• Easily scalable with the potential for high income
• In-app purchases can create income sources beyond the initial purchase

Cons:

• Large initial time investment with no guarantee of a return

#31: Build or Buy a Newsletter

[su_note note_color="#dbeafc"] Upfront time investment: High Upfront financial investment: $0 Passive income potential: $5-$10 per subscriber per month [/su_note] Subscription-based newsletters can be very lucrative if they provide readers with consistent value. You can also monetize your newsletter by including affiliate links or selling advertising space once you have an established audience.  Like other content-based income streams, it can take a lot of time and hard work to create valuable newsletters and build a subscriber base. If you don’t want to start from scratch, you can buy a newsletter from a marketplace like Duuce. Pros:

• Recurring monthly income from your subscriber base
• Scalable with multiple ways to monetize the content
• Can use your newsletter to promote other passive income streams like a blog, YouTube channel, or online course

Cons:

• Can take a lot of time to create valuable content

#32: Invest in Startups

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $50-$500 minimum investment Passive income potential: 10%-25% of investment [/su_note] Lack of capital is one of the biggest challenges many entrepreneurs face when starting a business. Equity crowdfunding is one way for them to access the funds they need, and you don’t need to be an accredited investor to get in on the action. There are a variety of equity crowdfunding platforms where you can become an angel investor with just a few hundred dollars in capital:

• StartEngine: One of the largest venture crowdfunding platforms, you’ll find everything from coffee shops and clothing stores to wind turbine companies seeking funding on StartEngine. You can also invest in or trade rare collectibles on their site.
• WeFunder: A low minimum investment of $100 makes WeFunder one of the most accessible ways to become an angel investor.
• Republic: Another low-capital option, you can start with as little as $50 on Republic. Their curated list is focused on opportunities with high growth potential.
• MainVest: Focused specifically on small businesses, MainVest lets you support local entrepreneurs while you earn passive income.

Pros:

• Support small businesses you believe in and earn income for doing it
• 100% passive once you’ve invested
• Potentially high long-term returns if the business takes off

Cons:

• You lose your investment if the startup fails
• May take a long time to see a return on your investment

#33: Create Digital Files

[su_note note_color="#dbeafc"] Upfront time investment: Medium-High Upfront financial investment: $0 Passive income potential: $50-$10K+ per month [/su_note] You’ve likely seen the online marketplaces of fonts, website and store themes, and other graphics and illustrations. These are often made by independent artists and designers who can make extra income selling their digital files through a platform like Creative Market.  This isn’t just an option for artists. You can also sell spreadsheet templates, patterns for crafts, PDFs, or templates for business cards, invitations, or greeting cards. If it’s something people need and will search for online, you can sell it for extra income. Some other sites to check out if this seems like something you want to do:

• Easy Digital Downloads: One of the most popular digital download marketplaces, boasting nearly 4 million downloads from their platform. They also have a wide range of third-party integrations and analytic tools helpful for creators. 
• Gumroad: The easy sign-up process and knowledge resources on Gumroad make it ideal for new digital creators, and you can sell just about anything through their platform.
• SamCart: An all-purpose site for courses, membership subscriptions, or digital products, SamCart also has helpful resources and analytic tools. The downside is there is a membership fee to sell through their platform.

Pros:

• Easy way to monetize your unique skills and knowledge
• Little to no up-front financial investment with a low overhead
• Income potential scales as you create more items to sell

Cons:

• Need to sell a lot of files to make a significant income
• Risk of your content being copied or shared illegally

#34: Become a Social Media Influencer

[su_note note_color="#dbeafc"] Upfront time investment: High Upfront financial investment: $0 Passive income potential: $10 (<1,000 followers)-$10K (>500,000 followers) per post [/su_note] If you’re already active with a large following on social media, you can leverage that following into passive income by becoming an influencer. Influencers are paid to promote products, services, and companies through their social media channels using reviews, promotional posts, or ads inserted into their posts, blogs, and videos.  Sites like Heepsy and Upfluence connect influencers with people who need their services and can help you build your reputation as an influencer. While the highest-paid influencers have 100,000 followers or more, you can become a micro-influencer with as few as 1,000 followers. Pros:

• Easy way to monetize a large social media following
• Try new products or services in your niche for free
• Works well in tandem with other passive income sources like courses, blogs, and YouTube channels

Cons:

• Not completely passive since you’ll need to actively post engaging content
• Need a large social media following to attract advertisers and sponsors

#35: Generate Leads

[su_note note_color="#dbeafc"] Upfront time investment: Medium-High Upfront financial investment: Low Passive income potential: $.50-$30 per lead [/su_note] A lead is a potential customer or sales contact. Companies get leads through their website, online ads, and ranking high on search results. Larger companies often have teams devoted to lead generation and management, but smaller businesses don’t have those resources, and instead pay third-party freelancers or agencies to do it for them.  If you have a strong understanding of digital marketing, SEO, and web development, you can use those to gather leads and sell them to businesses. The industries that pay the most for these are home services, insurance, and lending companies, so it can be beneficial to have expertise in those areas.  Pros:

• Can use software and tools to automate lead sourcing and make it more passive
• No need to create and sell your own products or services
• High revenue potential once you’ve established your reputation

Cons:

• Requires a specific skill set 
• Can take a while to grow your reputation and increase earning potential

#36: Use Passive Income Apps

[su_note note_color="#dbeafc"] Upfront time investment: Low-Medium Upfront financial investment: $0 Passive income potential: $10-$100 per month [/su_note] Do you want to get paid for doing things you already enjoy? There are a plethora of apps that let you do just that. While many of the apps you’ll find on passive income earning lists are investment platforms, there are other options. Some of the most popular include:

• Mistplay: A loyalty program for mobile gamers, Mistplay pays users to play promoted games. Earn points for playing and turn them in for gift cards to Amazon and other online sellers.
• Swagbucks: Earn gift cards for doing a variety of online activities, like watching videos, taking surveys, or playing games. 
• InboxDollars: A way to get paid for things you already do online, like shopping, searching the web, or even watching TV.

Pros:

• Get paid to shop or play online games
• Make passive income from things you already do
• Easy to set up with no specific skills or knowledge required

Cons:

• Relatively low income potential

#37: Take Paid Surveys

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $0 Passive income potential: $.50-$5 per survey [/su_note] Companies need feedback from users and customers to improve their products and services, and they’re willing to pay for that information. Taking online surveys doesn’t generate a ton of money, but if you enjoy doing them, it’s a way to make a bit of extra cash just by sharing your opinions.  The Swagbucks and InboxDollars apps listed above are two places you can do this. Some other popular and reputable survey-for-cash sites include Survey Junkie, Pinecone Research, and MyPoints. Pros:

• Easy and free
• Earn money in your spare time while doing other things
• Provide feedback to improve the products and services you use

Cons:

• You’ll only get paid for surveys you qualify for
• Can take a while to earn a significant amount

#38: Use a Credit Card with Cashback Rewards

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $0 Passive income potential: 1%-10% of what you spend [/su_note] Getting money back for the things you buy is one of the easiest forms of passive income. The only caveat here is that you’ll need to make sure you only buy what you can pay off right away, before you’re hit with interest that wipes out those savings. Look for a card with no annual fees. Many also offer a sign-up bonus of $200-$300. Nerdwallet’s list of cashback credit cards is a great way to compare your options. Pros:

• No extra effort or investment required
• Many offer bonus savings on specific categories of goods and services
• Improves your credit score while earning cash back

Cons:

• Can get hit with high interest if you don’t pay your balance in full

#39: Get Cashback for Shopping or Dining

[su_note note_color="#dbeafc"] Upfront time investment: Low Upfront financial investment: $0 Passive income potential: 1%-30% of what you spend [/su_note] Another way to get paid for the things you already buy is through discount and reward websites and apps. Like with cashback credit cards, you want to be careful you’re not overspending in your quest for rewards. For the things you already buy, though, you can access them through an app or website to get as much as 20% of your purchase back, which translates to more money in your pocket. Some of the most popular sites for this:

• Rakuten: Shop through the app to get discounts, cash back, and rewards for buying things you already need and use. 
• Earny: This site tracks prices and gives you a refund if it drops after your purchase. You can also win prizes and get other rewards for shopping, and adding the Chrome extension makes the whole process automatic.
• Seated: Book reservations at local restaurants and get up to 30% back in gift card rewards.

Pros:

• Earn money back for the things you already buy
• Easy and free to get started
• Can earn additional bonuses and rewards

Cons:

• Can take some time to accumulate enough rewards to cash out

#40: Buy a Parking Lot, RV Park, or Mobile Home Park

[su_note note_color="#dbeafc"] Upfront time investment: Medium Upfront financial investment: $10,000-$100,000 Passive income potential: High ($10K+ per month) [/su_note] People with vehicles need a place to park them, and the larger the vehicle, the more limited their options. Undeveloped lots are cheaper than commercial property with structures, giving this a lower financial barrier to entry than other brick-and-mortar options on this list. Once you have the lot set up, you can automate the space booking process or hire a few employees to supervise and maintain the space to make it a fully-passive income stream.  Pros:

• In-demand service with a consistent customer base
• Can make a profit from otherwise unusable and undeveloped space
• High long-term revenue potential

Cons:

• Will need employees to make it fully passive
• Requires some initial capital investment

Create a Passive Income Stream

Let's review Graham's simple steps for developing your passive income idea into a thriving source of income: [su_note note_color="#dbeafc"]

1. Explore passive income stream ideas
2. Perform market research
3. Create a customer avatar
4. Build the system
5. Create content or ads
6. Gather emails
7. Convert followers to customers

[/su_note]

Perform Market Research

Once you've chosen a couple of the best passive income ideas that you'd like to investigate, it's time to do some market research. You'll want to understand:

• Industry revenue and profit benchmarks
• The major players and how they make their money
• Trends in the industry
• Gaps in the current offerings

After you understand all this and have decided to enter the industry, it's time to create a customer avatar.

Create a Customer Avatar

Create your own avatar profile with this template. To earn passive income, you'll want to have a customer avatar. There are two ways you can create the customer avatar depending on what kind of passive income streams you pursue:

1. Avatar of your future self
2. Avatar of your future client

Let's look at each.

Avatar of Your Future Self

If you plan to earn passive income from dividend stocks, real estate investment trusts, exchange-traded funds, or other income-producing securities, you may want to create a customer avatar of what your life looks like in the future. You'll want to include aspects like:

• The year
• Where you live
• Your monthly income
• Your family scenario
• Your work schedule

This is just defining what financial freedom looks like to you. With a picture of where you're going, it's easier to commit to the upfront time investment and monthly payments necessary to reach financial independence.

Avatar of Your Future Client

If your passive income streams involve selling a product or service to generate income, you'll want to define your ideal client. You want to know everything you can about them, including:

• How they make money
• Where you can reach them online
• What is important to them
• Your pathway of interactions once you start interacting with them
• How they communicate

The more you know about your client, the better you can prepare a passive income strategy.

Build the System

This is where those who shine at running business ventures or creating passive income differentiate themselves from those who fail. You need a system in place. Otherwise you'll burn out. Graham started his first passive income stream with the following tech stack:

• Cheap WordPress site
• MailChimp
• eJunkie

He told us: [su_quote]I started with $50 using free software as much as possible. Today I use Kajabi because it has everything I need and costs under $200 per month.[/su_quote] Kajabi offers a 30 day free trial.

Create Content or Ads

The next step is to create the content or ads to get your passive income ideas in front of your target market. If you’re creating content, you’ll want to share regularly with your audience. You can use your customer avatar to create ad accounts on the appropriate social media platforms. Graham explained how he spends just five hours each week to earn passive income: [su_quote]I create content for YouTube or the podcast, record a class and Q&A, then check in with my community and answer questions.[/su_quote] You can use programs like Canva to make content generation easy, but Kajabi also has design tools built in.

Gather Emails

You'll want to collect email addresses to communicate with your followers. Kajabi has built-in email collection and is really intuitive. You can even take the Kajabi Academy List Building Course to learn the best ways to build an email list using their platform. If you prefer MailChimp, they also offer educational resources on using their platform. Here are the main things you need to know about any email list:

1. You need real emails. If you have too high a spam rate, you'll be flagged by email operators. If the email addresses don't look real, they probably aren't.
2. Disclose how email addresses will be used before you collect them. People are hesitant to give out their emails to unknown companies.
3. Comply with the strictest laws you fall under. In most cases, this is the GDPR, Europe's privacy regulations.

Convert Followers to Customers

The final step in earning a passive income is converting followers into customers. This requires an automated email funnel. Kajabi has a free training that I linked to earlier. There are a ton of places you can get free or low-cost email templates and edit them to suit your niche. If you wish, you can also use paid ads with retargeting as long as you have the proper tracking codes on your site. Next, we'll answer some commonly asked questions about the best passive income investments.

Passive Income Success: A Case Study

We mentioned him above, but it’d be a shame not to highlight him once more before we wrap this article. Graham Cochrane is a prime example of a wildly successful passive income plan.  He's made $1.6 million dollars this year and only works 5 hours a week. Yes, you read that right. Graham got laid off from his job four months after moving his family to Florida during the Great Recession. He told us: [su_quote]My back was against the wall.[/su_quote] He had some experience recording and mixing for bands, which he thought he'd start doing as a side gig. So he started marketing the business: [su_quote]I started a blog, and [I thought] maybe people would see my blogs, and it would bring in more clients. I didn’t know about passive income and course materials...but within three years I made over a million dollars![/su_quote] Want to know his secrets? Get all the info in our interview.

Passive Income FAQs

People ask a lot of questions about the best ways to invest passively. While I am not in wealth management, nor am I a certified financial planner, I have experience investing and am happy to share my opinions. Make sure to consult with a professional who actively handles wealth management before pursuing any types of income that require an investment.

Passive Income vs Unearned Income Streams

Passive income is from an investment of time or money, while an unearned income comes from sources like gambling, alimony, lotteries, or social security.

How to Generate Passive Income with No Initial Funds

Many of the top streams of passive income are online. In addition, most software offers a free trial. You just have to be willing to trade an upfront time investment for future income. If you are low on cash, consider getting into: [su_note note_color="#dbeafc"]

• Custom products
• Online courses
• E-books
• Stock photos
• Affiliate marketing
• Blogging
• Youtube
• Podcasts

[/su_note]

How to Make Your Money Work for You

To make your money work for you, invest it in passive income ideas that are strictly financial instruments. You can invest money in the following money making ideas:

• Dividend Stocks: Earn dividend income on a monthly, quarterly, or annual basis by playing the stock market.
• Mutual Funds: A fund that holds multiple types of stocks that requires a minimum investment. Mutual fund focused on income will pay out similarly to dividend stocks.
• Retirement Accounts: You’ll pay taxes on either the front end or the back end but not both. If you work with a company with a matching 401K, that is an automatic gain right from the start.
• Peer-to-Peer Lending: These financial instruments lend money to people and businesses in exchange for the repayment of principal and interest payments. You may be required to be an accredited investor on some platforms.
• Real Estate Investment Trust: Make money off real estate investing without buying a property and managing it.

A high-yield savings account or money market fund is another option, but I would recommend going for something that beats inflation. Savings accounts and money market funds normally have horrible interest rates.

How Can I Make Passive Income with Real Estate?

Passive income options in real estate include:

• Buying a rental property: Buying real estate to earn rental income is one of the ways many people earn passive income in 2024.
• Investing in real estate investment trusts: Make money on real estate without owning real estate or managing a rental property. These are some of the highest-yielding stocks.

Have You Figured Out How to Get Rich in 2024?

At this point, you've learned:

1. The passive income definition
2. How to earn passive income
3. How to build passive income using Graham's strategies
4. Some of the best passive income ideas in 2024

Now you just have to put in the upfront time investment or money investment. As you bring in more money, make sure to keep reinvesting it in a mutual fund or other ways to create passive income dividends. Just as a reminder, don’t consider this blog as investment advice. We’re just business owners who are passionate about helping others succeed. Any investment decisions should be made in consultation with a licensed financial advisor. What passive income strategy has made you the most money?

• Real estate
• Online passive income
• Stocks
• Crypto

You’ve come to the right place if you’re looking for wholesale items to resell, video game items to resell, or the best types of items to flip for profit.  Mike Wilson retired after 30 years of running a furniture store, but now Golden State Picker makes $30,000-$35,000 in revenue each month finding the best things to resell on eBay. He shared the keys to his success and how you can make a great living in reselling. We’ll share tons of flipping ideas, software to help you identify cheap items to resell, and what works well on each platform. With this information, you’ll be ready to buy and sell items from every corner of the community. 

What Can I Sell?

You can sell almost anything, but some items hold value better than others. It’s just a matter of what products you can find and afford for less than the going rate. We’ll cover many different items, but if you are trying to sell online, most purchases are under $115.  Check out our interview about reselling below:

What items can I get in trouble for selling without a license?

Many locations object to people selling large quantities of items without a business license, but some products require special licensing to sell stuff such as:

• Food 
• Alcohol
• Tobacco products
• Marijuana
• Prescription medicine
• Illegal drugs (With or without business licensing, some items might land you in prison. For younger business owners, it’s not uncommon to be asked to help people launder money, which is also illegal).

What Can I Resell to Make a Lot of Money?

According to the Bureau of Labor Statistics, people frequently buy the following products, which means you should be able to sell them faster on a selling app or free online marketplace. You should make decent profits long term. The following shows averages of how families spend money each year:

1. Clothes – $1,434.26 (Women spend about 67% more than men.)
2. Miscellaneous household equipment – $1,117.53
3. Audio and visual equipment – $1,049.26
4. Cleaning supplies – $836.51
5. Personal care products – $646.35
6. Furniture – $534.17
7. Shoes – $313.94
8. Snacks – $204.54
9. Home decor items – $165.79
10. Toys, games, and bikes – $156.74
11. Garden and lawn equipment – $111.18
12. Water bottles – $71.63

Take a look at the list. It’s quite impressive.

Best Things to Resell Online

The best items to flip online will depend on what site you are using. Mike told us: [su_quote] The best products to resell are the ones that you know about. From sealed VHS tapes, to electronics, and clothes. Use your life experiences to establish what it’s worth and you’ll make a great living. [/su_quote] You’ll find out about Amazon, eBay, Facebook, Poshmark, and Etsy in the following sections.

What are the best things to resell on Amazon?

The best items to resell on Amazon include:

• Shoes
• Shirts 
• Boxers
• Books
• Face cleaner
• Water bottles
• Printers
• Label makers
• Headsets 
• QR code readers
• Dog food and other products for dogs

Buy in bulk and use Fulfillment by Amazon to qualify for Prime shipping for best results. Check out our interview with the owner of Shed Defender to find out how he makes $150K a month with Amazon FBA. [su_youtube url="https://youtu.be/XTiks_VFTMo"] Next, we’ll answer “what are the best items to flip on eBay?”

What are the best things to resell on eBay.com?

If you’re looking for ebay flipping ideas, consider:

• Power tools
• Laptops
• Tablets
• Headphones
• Gaming systems
• Home security systems
• Furniture 
• Towels
• Purses
• Cars
• Watches
• Clothing

Those are the best things to buy and resell on eBay.  Mike also suggested broken old-school record players: [su_quote] People will pay a lot of money for vintage record players and you can buy broken ones for cheap. The most common problem is the belt and it costs $5 to fix. [/su_quote] You can sell almost anything, but check their prohibited items policy if you still need to determine whether they will allow you to sell an item on eBay. We created an eBay walkthrough that shows you how to set up a shop and list your items. Next, we’ll discuss the best items to flip on Facebook Marketplace.

What are the best items to flip on Facebook?

Facebook Marketplace is a great place to list items for local sales. The FB Marketplace helps people and businesses connect with buyers and sell their products. The Facebook Marketplace has the following categories:

• Apparel
• Auto parts
• Electronics
• Garden and outdoor
• Hobbies 
• Home goods
• Home improvement supplies
• Home Sales
• Musical instruments
• Office supplies
• Sporting goods
• Toys and games
• Vehicles

They have a section for free items, too. Free items are probably the best items to resell because the profit potential can be astronomical. People give away furniture, TVs , food, monitors, and just about anything you can imagine. They expect you to pick it up, though. After you do, you can sell it elsewhere for market price. Learn more about Facebook Marketplace selling. Check out this article for tools that get better results selling on Facebook.

What are the best items to auction flip?

Here are three types of auction flips that people normally search for:

1. Buy at auctions and sell at other places.
2. Buy at yard sales, thrift shops, and other places, then sell at auctions.
3. A game called Hypixel. The rules state that you cannot sell items for real money so this is one for the true gamer.

Buy at auction, sell on marketplace

When you participate in auctions and then resell them on marketplaces, you will typically buy higher priced items like:

• Repossessed homes
• Repossessed cars
• Impounded property from police auctions (boats, cars, homes)

You probably won’t get much time to view them, so you need to be prepared. You can get deep discounts by buying property this way. I have seen homes sell for under 50% of market price.  Use CarFax or other VIN checkers if you are buying cars. It’s helpful to have someone working with you that is handy with mechanical work because you might have hidden repair costs that will slow down the selling process.

Buy at stores or online, then sell at auction

If you find something with a truly high resale value, sometimes the best way to sell it is at an auction. You can sell:

1. Antiques
2. NFTs 
3. Rare cars
4. Paintings
5. Jewelry
6. Watches
7. Rare musical instruments
8. Designer labels

Every auction house takes a commission from the buyer, seller, or both. You can expect that the percentage will be at least 25% of the sales price, but potentially up to 50%. Auctions are best when you have an item you expect will be met with high demand.  Otherwise, every online marketplace charges less of a commission to resell for a profit.

What are the best things to flip on Poshmark?

Poshmark is a cross between social media and eCommerce where you can follow people on a secondhand apparel market and buy products from them. It’s better than leaving your stuff collecting dust. Ecommerce sellers and resellers can sell:

• Clothing
• Home products
• Electronics
• Pet products
• Handbags
• Shoes
• Jewelry
• Makeup
• Dresses

Turn your own collection into a full-time income by selling some of their most popular brands including: [su_note note_color="#dbeafc"]

1. Nike
2. Michael Kors
3. Louis Vuitton
4. Lululemon Athletica
5. PINK Victoria's Secret
6. Coach
7. Chanel

[/su_note] Check out the Poshmark Guide for a few pointers on starting an online business.

What are the best items to flip on Etsy?

Flipping products on Etsy requires sellers to offer vintage, custom, or digital products. If you are looking to resell on this online platform, consider:

• Vintage hats
• Vintage cabinet knobs
• Vintage rugs
• Digital guides
• Baby gear
• Vintage toys
• Antique furniture

Check out our blog about how to start an Etsy store or watch an interview with Vlad Kuksenko. [su_youtube url="https://youtu.be/7b_58Bppsb4"]

Best Places to Find Items to Resell

There are several places where people look for items they can resell. Some of the most common include:

1. Wholesalers
2. Thrift Stores 
3. Flea Markets
4. Garage Sales
5. Estate Sales
6. Auction Sites
7. Online Marketplaces
8. Going-Out-of-Business Sales
9. Retailer Clearance Items

Let’s look at how each works.

Wholesalers

When you purchase items from a wholesaler, you buy in bulk for a discount. Then, you’ll sell each item individually. Your profit margin is based on the difference between the retail price and the per unit cost of your bulk order. You can find a list of suppliers on Wholesale Central. You can also consider:

• Alibaba
• DHGate
• AliExpress

Thrift Stores

Many small business owners go to their local thrift store looking for items that they can sell for a higher price. When I worked at Goodwill in Austin, Texas, one of the regular customers found an item for $3 that he sold online for nearly $2,000.

Flea Markets

Another place people like to go to find great deals are flea markets or swap meets. Sometimes seen as open-air events or large barn-style venues, these are places where lots of vendors go to buy, sell, and trade new and used items.

Garage Sales

Yard sales and garage sales can be good ways to find items to resell. You’ll be able to find them on sites like:

• Craigslist
• GSalr
• Facebook Marketplace and Groups
• Yard Sale Search

Estate Sales

These are similar to a garage sale but occur when entire properties need to be sold or managed efficiently. Sometimes families need or want to handle things as quickly as possible. Estate sales often help liquidate all belongings to pay for funeral costs or debts. Mike told us: [su_quote]Make sure to network. If people know you’re a reseller, they’ll contact you before going through this process.[/su_quote]

Auction Sites

You can find amazing deals at auctions. I bought two art deco nightstands used in a 5-star hotel for $10 one time. Check out Local Public Auctions for a list of auctioneers near you. If you find a real steal you can take them to one of the bigger auction sites like:

• Sotheby's
• Christie's 
• China Guardian
• Phillips
• Poly Auction

Mike warned that Storage Wars makes people think it’s easy but storage is a lot harder than it looks: [su_quote]I waited until I was five years in before I bought my first storage unit. It was hard work.[/su_quote]

Online Market Places

Online marketplaces are great places for good deals. Parents will often give away kids' clothes, plus people sell furniture, power tools, and consumer electronics when they are trying to clear space in their homes. Mike suggested checking out:

• Mercari: Secondhand marketplace 
• Whatnot: Online community marketplace for buying and selling items

You might also try  OfferUp, which bought letgo.com to offer both sites the same functionality.

Going Out of Business Sales

If you are looking for commercial equipment, good deals on large amounts of products, and furniture for a restaurant or store, look for going out of business sales.

Retail Clearance Racks

Sometimes companies will sell products for way less than normal, so they can clear space for new items. You can make serious money if you have a place to store them. For instance, after any major holiday, the pricing of seasonal items is discounted by up to 90%.

Online Arbitrage Software

There are a ton of software programs that can help you find the best items to resell. Here’s a list of some of them and how they help you:

CNET Shopping 

Formerly Invisible Hand, the CNET Shopping Chrome Extension will show you the lowest price to buy any product. It’s free, too. I found a couple of electronics with pricing of $100–$400 less than other sites.

Tactical Arbitrage 

Use Tactical Arbitrage to find products to buy on Amazon and flip on other sites. Look for wholesale products that will generate specific returns, or use reverse lookups to find the cheapest place to buy a product and resell it. You can combine all the features or get just the ones you need.

RevSeller

Get a RevSeller estimate of the profit you’ll make for selling products using Fulfillment by Amazon. It’s an extension that runs about $100, but it has a 30-day free trial.

SourceMogul

Find profitable deals, buy them with SourceMogul, and have them sent directly to Amazon to sell.

Jungle Scout

Find the best resale items with Jungle Scout. They rank items based on competition and where to purchase them. It even helps you track your Amazon seller ranking and find optimal keywords. They have a 7-day money-back guarantee, and packages start at about $30 per month.

BrickSeek

Find sales in retail stores near you with BrickSeek. Just set custom notifications to find sales on products you can buy cheap and sell high.

ProFlipperz App

Use your android phone to scan a barcode, check to see if it’s a good value, buy it, then list it on all of your platforms. It is also available for iOS. It seems to be a fairly new entrant that mostly operates using affiliate marketers, but the process seems to work.

WorthPoint 

Mike told us: [su_quote]When you’re learning, you might want a resource like WorthPoint to establish the right pricing when you are considering objects for resale.[/su_quote]

Nextdoor Free Finds

You’ll be surprised what you can find for free on Nextdoor Free Finds. Check out their listings of free items in your area.

What Are the Best Things to Resell?

There are a lot of opinions about what the best things to resell are, but from what I have seen, the following products tend to resell for far more than their normal purchase price: Starbucks limited-time cups: The cups from Starbucks are hot sellers. They often go for three to five times the price Starbucks sells them. Trending kids' toys: Every year, you see people buy the hottest toys and mark them up to ridiculous values. This used to be just during the holidays, but TikTok has made it where people succeed in doing it year-round. Vintage and Designer Clothing: Many donation stores misprice clothing because they don’t have the workforce to accurately price each piece of clothing. Sometimes you can find clothing and other products at ridiculous discounts and sell them online. Designer Sneakers: Limited print shoes tend to be a profitable business. If you look at Jordan’s, they tend to sell on Amazon for up to $300 more than they cost when you could buy them in stores.learn how to become a shoe reseller.

What Is the Easiest to Resell?

People are always looking for good deals on items like:

• Bicycles
• Books
• Clothing from your own closet
• Exercise equipment
• Furniture
• Power tools
• Services
• Sports equipment
• Video games and consoles
• Vintage electronics
• Watches
• Websites
• Yard equipment

What Items Have the Highest Resell Value?

If you’re looking for low volume and high profits, you’ll want to consider some of these items. ASIC Miners: This is computer equipment used for mining cryptocurrencies like Bitcoin, Ethereum (soon to move away from mining), and Kadena. The pricing can fluctuate dramatically as shown in the chart below: Cell Phones: When you upgrade a cell phone, the old one will often have a decent resale value if you don’t trade it in. This is especially true of the higher storage models, which are harder to find used. Graphical Processor Units (GPUs): Crypto has dramatically impacted the value of GPUs. If you find computers with functional Nvidia GPUs in them, you may be able to sell them for a profit online. If you buy them now and hold them until the next bitcoin halving in 2024, you will likely see a lot of profit by flipping items. Antiques: Many sellers hold garage sales and estate sales where you can find good quality wood furniture, antique toys, old books, and other products that may be worth serious cash. You have to know how to value them, but the profit potential is huge! Vintage Cars: The 1968 Shelby GT had an original list price of $4,000-$5,000. Today people are selling restored vehicles for $150K+, nearly five to seven times what they would be worth when calculating for inflation.

What Is the Best to Resell Due to Demand?

Some items have really high demand like:

• Phone chargers
• Phone cases
• Video games 
• Gaming systems
• Vintage clothing
• Vintage items like board games

If you buy these in bulk and sell them individually, you can make a lot of money on the markup.

Fest Items to Flip 

I’m not sure whether the above is saying is because people mispell “best” or because 32 million people love going to music festivals and some of us want to spend our whole lives at them (I’m in this category). I’m going to assume flipping items at music festivals is the intent.  If you’re looking for a great way to combine a love for tunes and making money, consider these fun items to sell:

• Art
• Bug repellant
• Clothing
• Face painting
• Food and drinks
• Home decor
• Jewelry
• Umbrellas
• Phone charging station
• Sunscreen
• Toys, especially glow toys
• Umbrellas

Flipping Electronics

If you’re looking to flip electronics, you’ll want to know used and new market rates for each product. You’ll then want to find ways to buy the products where you can make a 33% gross profit margin. If you’re trying to keep up with new electronic trends, use sites like:

• Amazon Best Sellers List
• Google Trends (search term: electronics)
• Exploding Topics (sorted for products and one month)
• Shopify Trending List (blog)
• YouTube Unboxing Videos (sorted by last month and most views)

Don’t forget to subtract your time, selling fees, and shipping costs from the price you want to sell the products. Otherwise you might pay too much.

Best Things to Buy and Resell

There are a ton of things you can buy and resell for a profit. Some of the most profitable are:

• Limited edition drinks and food (Make sure to check expiration dates.)
• Winter jackets 
• Kid gear
• Collectible toys
• Sleep Number Mattress controls and other remote controls (Sometimes people lose controls or buy a used product and have to buy a remote.)
• Textbooks 
• Ink and toner cartridges for printers

Best F2P Items to Flip

This section is focused on video game items that you can earn and sell for a profit online. F2P stands for free to play. Many games allow you to create your own items and sell them in-game.  Other people build an account and sell it once they’re done with the game to recoup some of their costs. Be sure to read the terms of the game to make sure you aren’t violating their rules.  Some of the games that you can sell on are: OldSchool RuneScape (OSRS): Original Runescape. The value of the items will be based on the rarity in the game, but the top ranked seller on PlayerAuctions has made over $15,000 selling over 100 items. A 3rd Age Pickaxe is listed for between $1,400 and $2,000. Not too bad for playing video games. RuneScape: This is an updated version of OSRS. The resell values are lower. Most Blockchain Based Games: Many of these will require an NFT, a metamask wallet, and a crypto debit card but you will be able to earn rewards that can be traded on the open market for cash. You can also sell your NFT if it appreciates in value. Metaverse Worlds: Many metaverse companies allow selling online through their metaverse. Interact with people in VR and sell your real world items. Just don’t get stuck in the Matrix. You can also charge for access to your world and resell the NFT if you wish. Find the 10 best worlds to check out. Bazaar Items: It appears this is referring to an online card game that is currently in beta testing. You can check out their website at Play Bazaar. It is a game created by the owner of the professional gaming team Tempo Storm. I’ll add the best items to Bazaar flip when the game releases to the public.

What are the best items to flip OSRS?

The higher price items that people flip on OSRS include:

• Power Leveled Accounts: Up to $1,000, but most are custom quotes
• 3rd Age Pickaxe: $1,150 – $2,000
• Twisted Bow: $500 – $521
• 3rd Age Bow: $420
• 3rd Age Druidic Cloak: $328 – $400
• Elysian Spirit Shield: $383
• Gold: $.398 – $1.01 per million gold in batches of 10 million

PlayerAuctions has 200 other games you can sell items for including Roblox, World of Warcraft, Fortnite, and more.

What are the best items to flip RS?

For non-gamers RS is short for Runescape, which is another game with high demand items that people buy with real money using online sites. The rs best items to flip are:

• Gold: $.044 – $.10 per million gold in batches of 100 million
• Blue Party Hat: $7,900 – $10,000
• Red Party Hat: $2,600 – $4,000
• Gold Party Hat: $1,500 – $2,500
• Black Santa Hat: $1,433
• Red Santa Hat: $178 – $182
• Accounts: $18 – $4,750

Gold under $100 seems to be the best selling item, though. Prices are averaged from PlayerAuctions.

Best Things to Buy and Resell for Profit

By far the best thing to resell for profit are homes and other real estate. For every $100,000 you spent on a home in 2012, you might have $132, 813 today. Plus, you can rent them out to cover the costs. There’s a reason that the median household assets are dominated by their primary residence and rental properties. It’s because they have beaten inflation for the majority of the last century. Check out our Podcast about how to invest in real estate. Other assets that often increase in value include stocks and bonds. For other items, you should probably consider using a formula similar to pawn shops. They assume they can sell it for the lowest price online or half the retail price, whichever is lower. Then they’ll offer you half of that. So effectively use this process to find the price you are willing to pay:

Best Things to Shoplift and Resell

When researching the keywords for best things to buy and resell, this was surprisingly one of them. Sure you’ll save money by shoplifting, but money doesn’t do you much good if you end up in jail. Also, stealing causes inflation, which cause other problems. But seriously, don’t commit crimes. It's a horrible idea for advancing a business career.

What Are the Best Things to Buy at Goodwill to Resell?

Goodwill and other thrift shops are a great place to find items to sell. You will commonly be able to find the following items that are easy to sell:

1. Vinyl Records: Here’s a list of the most commonly requested records.
2. Sports and exercise equipment: Thrift stores tend to price items that take up lots of space at ridiculously low rates to get them out of the store quickly.
3. Books: Check out the Guardian’s list of best selling books 
4. Clothes: Sometimes, the thrift store employees who sort clothes don’t recognize designer brands. If you get lucky, you can buy a $100+ product for $5.
5. Obscure Art: A lot of art comes into a thrift store that people don’t know is valuable. You can find some incredible deals with just a bit of art knowledge.
6. Jewelry: Thrift stores will often sell jewelry below the price of the raw materials. When that occurs, you can make a fair profit buying from Goodwill and other thrift stores.

What Items Have You Resold?

You’ll need to enjoy what you are doing because you’ll spend a lot of time shopping for a deal you can sell for a higher price. If you love checking out thrift stores and yard sales, or doing online arbitrage, you might enjoy being a reseller. Learn how to resell. What are your favorite items to resell?

Did you know that tech startups normally spend over $300K during their first year of business?

Many people dream of starting a tech company and solving the world’s problems, but few have what it takes. When considering tech startup ideas, you need an understanding of how impactful the idea will be on the world.

We’ll share some of the best tech business ideas for people to start, give you some background on each industry, and share the average revenue, profit margins, and growth rate for the industry. Get ready to learn about profitable tech startups.

By the end of this post, you’ll know about major players in the tech startup space and have the inspiration and details you need to launch your tech business.

[su_note note_color="#dbeafc"]

Click on any of the links below to learn about the tech startup topic that interests you most.

• What are tech startups?
• Best tech startup ideas
• What is a good startup business?
• How to start a tech startup
• How many tech startups fail?
• How many tech startups are created each year?
• How to compare tech business ideas
• What are the most profitable tech startup ideas?
• Which tech startup idea do you like?[/su_note]

What are tech startups?

When they hear “tech startup,” most people think of software companies, SaaS (Software as a Service), and technology like AI and VR. The truth is, though, technology is a very broad concept that touches just about every industry.

So what is a tech startup? In short, it’s any business that aims to provide technology products or services to customers, whether those are end users or other businesses.

This can include what we think of as basic services, like device repair or website design, along with things like biotech, nanotech, robotics, and other advanced or emerging technologies.

Best tech startup ideas

There are countless tech startup ideas, and the best ones often address current problems or needs in the market. Here are some tech startup ideas to consider.

1. AI-powered customer support

• Average Annual Revenue: $35K-$50K
• Average Profit Margins: 10.5%
• Startup Costs: $100-$200
• Time To Revenue: 1-3 months
• Annual Market Growth Rate: 1.9%
• Best for: Outgoing and social entrepreneurs, those with strong scheduling, time management, and problem-solving skills

The expansion of artificial intelligence technology in the past few years has opened up a lot of startup ideas for aspiring entrepreneurs who want to start their own business in tech. A customer support platform is among the most in-demand.

According to a survey from Salesforce, 23% of customer service companies were already using AI in 2023, and that figure is only likely to grow as more people embrace the technology. You can start a very successful tech startup providing these chatbot services to potential customers.

2. eLearning platform

• Average Annual Revenue: $234K+
• Average Profit Margins: 5.8%
• Startup Costs: $100-$1K
• Time To Revenue: 1-3 months
• Annual Market Growth Rate: 1.1%
• Best for: People with niche or in-demand skills and expertise

What’s great about starting an online course business is that it’s not just for tech entrepreneurs. If you have basic computer knowledge and skills or expertise that other people want to learn from, you can start a profitable business with an eLearning platform.

The most popular subjects for online courses include web design, graphic design, and business topics like digital marketing, social media management, and how to write business plans.

The truth is, though, you can start an online platform for education on any subject that you’re passionate and knowledgeable about. Jacques Hopkins makes $40,000 a month from Piano in 21 Days, which started from his love of playing piano as a hobby. Hear his story here:

3. Health and wellness apps

• Average Annual Revenue: $130K+
• Average Profit Margins: 5.4%
• Startup Costs: $100K-$3.5M
• Time To Revenue: 6-18 months
• Annual Market Growth Rate: 0.4%
• Best for: Wellness and nutrition professionals, athletes and fitness experts, entrepreneurs who excel at organization, sales, and customer service

Healthcare mobile apps are a rapidly growing industry. This market grew by 14% during 2020, largely fueled by the pandemic, and is expected to reach nearly $150 billion by 2028.

Basically, if you’re looking for a tech business idea that can help potential customers improve their lives while you earn a profit, health apps for mobile devices are an excellent way to go.

Launch the best business startup with a health and wellness app by niching down on a target audience. That’s what James Li did when he started Mighty Health, an app business focused on wellness for people over 50. Hear his story here:

4. Smart home solutions

• Average Annual Revenue: $43M (there are only 836 companies in the industry)
• Average Profit Margins: 18.1%
• Startup Costs: $1M+
• Time To Revenue: 1+ years
• Annual Market Growth Rate: 12.6%
• Best for: Tinkerers, makers, programmers, engineers, automation experts

A smart home technology startup can take a lot of different forms, and that’s one reason this business model is a great way for aspiring entrepreneurs to get into the tech space.

You can create smart devices to automate or simplify just about any household task, from food tech like smart appliances to automatic cleaning solutions or home security solutions.

If you want a cheap, easy tech startup idea, consider a business creating automation routines or skills for existing smart home systems. That’s one of the few approaches to starting a tech company you can get into with $0 startup costs, and it can be a very profitable venture if you appeal to the right target market.

5. Sustainable tech

• Average Annual Revenue: $500M
• Average Profit Margins: 13.25%
• Startup Costs: $100K-$3.5M
• Time To Revenue: 6-18 months
• Annual Market Growth Rate: 18.1%
• Best for: Eco-conscious entrepreneurs, makers, programmers, and engineers passionate about sustainability

Climate change and sustainability have become an increasing concern for consumers in the past few years and people are eager for innovative ideas to reduce their carbon footprint and impact on the environment.

There are lots of tech startup ideas related to sustainability, from new ways to use renewable energy like solar and wind power to developing electric car charging stations and plastic-replacement products.

The bottom line is sustainable tech is an emerging industry poised for rapid growth, and you can make big revenue (and a big impact on the world) with a tech startup company in this space.

6. Telemedicine platform

• Average Annual Revenue: $22M
• Average Profit Margins: 19.37%
• Startup Costs: $500-$250K
• Time To Revenue: 1-3 months
• Annual Market Growth Rate: 4.6%
• Best for: Healthcare professionals, health and wellness experts, programmers and developers

Telehealth is another emerging industry that’s seen rapid growth in the past few years. It’s expected to be a $460 billion industry by 2030, and North America is the largest market for these healthcare tech solutions.

This is among the top technology business ideas for entrepreneurs in the health and wellness space. As telemedicine adoption expands, providers and patients are eager for ways to use augmented reality, cloud technology, and similar emerging technologies to help people stay healthy.

7. Personal finance management

• Average Annual Revenue: $1.57M
• Average Profit Margins: 18%
• Startup Costs: $500-$5K
• Time To Revenue: 1-3 months (not including time training as a CPA)
• Annual Market Growth Rate: 1.7%
• Best for: CPAs, finance experts, entrepreneurs with strong math skills

Instead of using traditional financial services, an increasing number of people today are looking for tech solutions to their money management.

Financial tech businesses include things like online stock investing platforms, mobile apps for asset and investment management, and banks that operate solely through an online platform.

This is an idea that isn’t just great for folks from the tech industry but also for accountants, bankers, investors, and other financial experts who want to start their own business in the tech industry.

8. Language learning apps

• Average Annual Revenue: $75K-$200K
• Average Profit Margins: 12.4%
• Startup Costs: $100-$200
• Time To Revenue: 1-3 months
• Annual Market Growth Rate: 1.2%
• Best for: People who speak more than one language, global web and software developers

Students aren’t the only ones who need to learn a second language. As remote work and digital nomads become more prevalent, more people have the chance to travel the world—and they need an easy way to communicate with people wherever they go.

A language learning app is one tech startup idea that capitalizes on this trend and can be a very profitable business. Just look at existing language learning tech businesses like Duolingo, which has been growing at a rate of up to 128% year-over-year since 2019.

9. Virtual reality experiences

• Average Annual Revenue: $3,570,588
• Average Profit Margins: 30.36%
• Startup Costs: $500-$5K
• Time To Revenue: 1-3 months
• Annual Market Growth Rate: 30.36%
• Best for: Gamers and game designers, creative entrepreneurs

The rise of augmented reality and virtual reality technology has opened up exciting new possibilities for entertainment businesses in the tech space.

There are multiple ways to launch a tech startup idea using this business model. You could open a virtual reality arcade, launch an AR/VR app for mobile devices, or develop a gaming system that utilizes virtual or augmented reality technology.

Virtual reality experiences can be profitable in multiple industries, too, not just for entertainment. From telemedicine to communication to retail, there are ample opportunities for a technology startup offering VR and AR experiences to thrive.

10. Blockchain-based solutions

• Average Annual Revenue: Varies based on tokenomics
• Average Profit Margins: 30.36%
• Startup Costs: $500-$5K
• Time To Revenue: 1-3 months
• Annual Market Growth Rate: 11.30%
• Best for: Data and programming professionals, people with expertise in finance, law, and other professional services

Blockchain is a distributed database technology that uses cryptographic technology to quickly and securely transfer assets with less risk of fraud, theft, or other issues.

Most current tech startups utilizing blockchain are in the financial and legal sectors—think cryptocurrency or a legal tech startup using blockchain for contract management or real estate deals.

There are even social media blockchain solutions like Stars Arena, which makes up to $300K per day at less than a month old. Plus, users of all audience sizes earn funds by selling tickets to their private rooms, referring people, and receiving tips.

The truth is, though, businesses have only scratched the surface of technology ideas using blockchain. There are a variety of profitable tech startup ideas you can explore in this space, from new payment systems for online businesses to intellectual property protection services and customer relationship management platforms.

11. Remote work tools

• Average Annual Revenue: $35K-$50K
• Average Profit Margins: 10.5%
• Startup Costs: $100-$200
• Time To Revenue: 1-3 months
• Annual Market Growth Rate: 1.9%
• Best for: Outgoing and social entrepreneurs, those with strong scheduling, time management, and problem-solving skills

Despite the wave of return-to-office mandates, remote work is here to stay. In 2023, 12.7% of full-time employees worked remotely, while another 28.2% worked under a hybrid business model—and that’s not even counting freelancers and contractors.

What’s more, it’s estimated that 32.6 million Americans will work remotely by 2025. That’s a lot of potential customers for software startup ideas or software as a service (SaaS) products aimed at remote workers.

12. AR-powered shopping

• Average Annual Revenue: $31K+
• Average Profit Margins: 1.9%
• Startup Costs: $100-$1K
• Time To Revenue: 3+ months
• Annual Market Growth Rate: 10.5%
• Best for: Those who like to socialize with and plan or organize for others

One of the biggest untapped niches for augmented reality technology is in the eCommerce business and online retail space.

Large companies like IKEA and Home Depot are already using AR tech to improve customers’ online shopping experiences, letting them see furnishings in their homes before they buy.

Augmented reality can be just as valuable for online businesses in the fashion industry, as we’ve seen from interfaces like Warby Parker’s virtual try-on system.

As more businesses take advantage of online shopping to serve customers, the need for this kind of business tech will only increase. That’s why an AR-powered shopping interface is among the best business ideas to start today—you’re still in time to get ahead of this trend.

13. Food-delivery innovations

• Average Annual Revenue: $131K
• Average Profit Margins: 3.6%
• Startup Costs: $100-$9.5K
• Time To Revenue: 3+ months
• Annual Market Growth Rate: 6.7%
• Best for: People with good connections to restaurants, those who like to socialize and are familiar with delivery routes

Food delivery is another rapidly growing industry. According to the restaurant software Toast, 185 million people are expected to use food tech for ordering by 2025.

This includes 63% of millennials and Gen Z-ers, a target audience whose purchasing power is still on the rise.

While food delivery tech business ideas will need to compete with big established brands like Grubhub and Uber Eats, there are a lot of untapped niches in this space. For example, Slice has made its name focusing solely on local pizza delivery.

A tight local focus helped Trellus grow its business, too. Founder Adam Haber had the startup idea to help small local companies compete with big box stores, and they’ve now completed more than 35,000 deliveries. Hear their story in this interview:

14. Personalized healthcare and diagnostics

• Average Annual Revenue: $130K+
• Average Profit Margins: 5.4%
• Startup Costs: $100K-$3.5M
• Time To Revenue: 6-18 months
• Annual Market Growth Rate: 0.4%
• Best for: Medical professionals and healthcare experts

Lots of people today turn to websites like WebMD for answers to their health questions, but the limitations of these sites have been well-publicized.

This is where a tech business offering personalized diagnostic information can fill in the industry’s gaps, especially in conjunction with the expansion of telemedicine services.

A personalized healthcare app is among the top technology startup ideas for doctors, therapists, and others who have medical expertise they want to leverage to launch and grow their own online businesses.

15. Cyber security solutions

• Average Annual Revenue: $1.4K
• Average Profit Margins: 6.4%
• Startup Costs: $100K-$3.5M
• Time To Revenue: 6-18 months
• Annual Market Growth Rate: 2.2%
• Best for: Programmers, ethical hackers, IT professionals with strong analytical and customer service skills

As more people and businesses use cloud services and other online interfaces, the risk of data breaches and other issues grows. Businesses across industries need a reliable tech partner who can keep their data, systems, and networks secure.

This has created a boon for tech companies offering cyber security services. A recent survey from McKinsey & Company shows the cyber security market is growing at a rate of 12.4% a year, representing a $2 trillion opportunity for cyber security startup businesses.

A cyber security tech consulting startup is one way to get in on this growing industry. Other companies are utilizing artificial intelligence and machine learning to develop new cyber security software and tools.

The bottom line is that if you’re an entrepreneur with cyber security experience, there are ample profitable tech startup ideas you can explore.

16. Smart mobility solutions

• Average Annual Revenue: $449K+
• Average Profit Margins: 5.5%
• Startup Costs: $1K-$100K
• Time To Revenue: 3+ months
• Annual Market Growth Rate: 0.9%
• Best for: Logistics experts, travelers and drivers, vehicle repair and maintenance pros

The logistics and transportation industry has embraced digital transformation in the past few years, and smart mobility solutions are among the best startup business ideas in this space.

Smart mobility involves using technology like big data, telematics, and artificial intelligence to improve the transportation of goods and people. This could mean using data analytics for traffic management, establishing autonomous public transportation options, or creating mobility-as-a-service platforms and smart parking solutions.

Using advanced technology for community-centered startup models can be a very profitable tech business in transportation and logistics.

17. EdTech for specialized skills

• Average Annual Revenue: $234K+
• Average Profit Margins: 5.8%
• Startup Costs: $100-$1K
• Time To Revenue: 1-3 months
• Annual Market Growth Rate: 1.1%
• Best for: Educators, people with niche or in-demand skills and expertise

Online learning has expanded access to knowledge around the world. Education institutions for all age levels have embraced the power of data analytics, artificial intelligence, and virtual reality to reach students in new ways.

An EdTech startup can take many forms. You could launch an online coaching startup that connects learners with teachers for one-on-one education. Other business ideas include using cloud technology to create learning platforms or starting a software development company that creates education solutions.

Teachers, professors, and other entrepreneurs with education experience are the best-positioned to thrive with an EdTech startup, but the truth is this niche is wide open for anyone with skills and knowledge to share.

18. Social networking for specific niches

• Average Annual Revenue: $60K-$160K
• Average Profit Margins: 8%
• Startup Costs: $500-$2K
• Time To Revenue: 1-3 months
• Annual Market Growth Rate: 10.5%
• Best for: Bloggers, influencers, digital marketing and social media experts

Social media has become the go-to way for people around the world to find their communities. While a new tech startup might find it hard to compete with big-name platforms like Facebook or X, you won’t need to if you niche down into a community.

Finding and building that community is the most challenging part of starting a tech business in the social networking space. That makes strong digital marketing skills essential for anyone planning to start this kind of tech business.

19. Elderly care technology

• Average Annual Revenue: $1.1M+
• Average Profit Margins: 19.37%
• Startup Costs: $500-$5K
• Time To Revenue: 1-3 months
• Annual Market Growth Rate: 2.0%
• Best for: Health and wellness experts, engineers, inventors, and IoT programmers

The percentage of the U.S. population that’s over 65 has been steadily growing. According to the Census Bureau, 16.8% of the population was over 65 in 2020, which represented a growth rate that’s five times faster than that of the general population.

This has driven an increasing need for elder care services, and tech companies can be part of that solution.

Some of the best startup businesses in this space include wearable health monitoring technology, memory aids, automatic pill dispensers, and other gadgets that allow seniors to maintain their independence.

Other profitable tech startup ideas related to elder care include animatronic pets, robot roommates, and senior-focused social platforms that help older people stave off loneliness and maintain social connections.

20. Event management and ticketing platforms

• Average Annual Revenue: $34K+
• Average Profit Margins: 12.2%
• Startup Costs: $500-$5K
• Time To Revenue: 3+ months
• Annual Market Growth Rate: 1%
• Best for: Strong networkers, great party planners, outgoing and social entrepreneurs

Event planning is a popular business idea, and you can take that concept high-tech by starting an event management platform.

This is another area where focusing on a niche is a smart business strategy. Instead of trying to compete with established companies like Ticketmaster or Eventbrite, you can hone in on a target market or geographic area that’s underserved by these all-purpose platforms.

21. Digital marketing automation

• Average Annual Revenue: $817K
• Average Profit Margins: 6.9%
• Startup Costs: $100-$10K
• Time To Revenue: 1-6 months
• Annual Market Growth Rate: 1.3%
• Best for: Advertising and marketing experts, people with skills in AI and software development

Most businesses today need to use digital marketing in some form to connect with customers, whether that’s through their business social media channels or via advertising like Google Ads or Facebook ads.

This kind of marketing can be time-consuming, however, and many business leaders don’t understand concepts like search engine optimization, lead generation and nurturing, or other critical factors in the success of a digital marketing campaign.

Digital marketing automation platforms take the guesswork out of effective online marketing while saving time in business owners’ busy schedules. For entrepreneurs with digital marketing expertise, creating this kind of platform is among the best tech startup ideas because of this high and growing demand.

22. 3D printing business

• Average Annual Revenue: $1.6M
• Average Profit Margins: 4.3%
• Startup Cost: $500-$250K
• Time To Revenue: 3+ months
• Annual Market Growth Rate: -5.6%
• Best for: Makers, inventors, designers, artists and creative entrepreneurs

A print-on-demand (POD) eCommerce business has long been one of the best startups, especially for those who want a business they can start and run from home.

The rise in 3D printing technology takes the POD landscape to an entirely new level. Instead of just customizing products for customers, you can create completely new customized items based on their specifications.

A 3D printing business is among the best tech business ideas for those who want scheduling flexibility or a semi-passive income. You can set up an eCommerce business platform to collect orders and handle fulfillment, then create the products on your own schedule.

While 3D printers do still cost more than your standard 2D printer, their average price has dropped substantially in recent years. Even a commercial 3D printing system can cost as little as $3,000-$5,000 in the current market, a very reasonable startup cost given the profit potential of this niche.

23. Robotics startup

• Average Annual Revenue: $48M+
• Average Profit Margins: 11.11%
• Startup Costs: $100K-$3.5M
• Time To Revenue: 6-18 months
• Annual Market Growth Rate: 24.7%
• Best for: Entrepreneurs with product development, electrical engineering, and mechanical skills

Another emerging technology that’s got a lot of potential for tech startups is robotics. Robots are utilized in a range of industries, from manufacturing plants to product delivery and a host of things in between.

Companies that use robots in their production or workflow processes need to get them from somewhere, and that could mean you if you start a tech business as a robotics startup.

24. Biotech startup

• Average Annual Revenue: $56M+
• Average Profit Margins: 16.90%
• Startup Costs: $100K-$3.5M
• Time To Revenue: 6-18 months
• Annual Market Growth Rate: 2.6%
• Best for: Innovative entrepreneurs with experience in biology, chemistry, environmental science, and similar fields

Biotech is basically any technology that’s based on biology. This technology applies the concepts of cells, molecular biology, and ecology to the tech industry, in the process creating very innovative ideas that can streamline and improve how people and societies function.

The main areas of biotechnology research currently are in the environmental, industrial, and healthcare sectors, but it’s certainly not limited to these areas. There’s a growing demand for biotech services in the agricultural space, for example, as well as in areas like nanotechnology.

Since most forms of biotech are still in the emerging technology space, the clinical trial period can be long and complicated. High startup costs and time to revenue are the primary challenges for companies in this sector.

25. Tech repair services

• Average Annual Revenue: $560K+
• Average Profit Margins: 5.7%
• Startup Costs: $500-$5K
• Time To Revenue: 1-3 months
• Annual Market Growth Rate: 1.4%
• Best for: Electronics and repair experts, tinkerers and makers with strong organization and customer service skills

The more technology and devices are in use, the higher the demand for people who know how to repair them when things go awry. This makes a repair service one of the most profitable tech startup ideas.

One of the best things about this type of business is that you don’t need a ton of money to start. You can even avoid needing a brick-and-mortar space by offering mobile electronics repair or complimentary pickup and drop-off services.

Joe’s Electronics Repair was started with a shoestring budget, and in five years, it grew to a seven-figure revenue. Find out how he started his business and achieved such rapid growth in this interview:

https://www.youtube.com/watch?v=Rqce8NAZWYw

26. Social media consultancy

• Average Annual Revenue: $817K
• Average Profit Margins: 6.9%
• Startup Cost: $100-$10K
• Time To Revenue: 1-6 months
• Annual Market Growth Rate: 1.3%
• Best for: Marketing, advertising, and PR professionals with excellent customer service and communication skills

A social media consultancy firm works with other business owners to help them better connect with customers and develop brand awareness using these platforms.

The high demand for these services gives it the potential to be a very profitable business, especially if you leverage technology like automation and artificial intelligence to operate at peak efficiency.

One reason this is among the best IT business ideas is that it has a very low potential startup cost. If you’re skilled in using social media platforms, you can potentially start for free—just start taking clients through a freelance platform.

The costs are a bit higher if you want to utilize tools for SEO, natural language processing, and other advanced concepts. Even so, a social media business requires a much lower upfront investment than most of the tech startup ideas on this list.

As far as how much you can make, the sky’s the limit. The social media agency Socialistics started as a side hustle and quickly grew to make $500,000 a year. Hear how they built their company in this interview:

[su_youtube url="https://www.youtube.com/watch?v=kb1czTEK8f8"]

27. Web design business

• Average Annual Revenue: $239K+
• Average Profit Margins: 5.3%
• Startup Cost: $100-$1K
• Time To Revenue: 1-3 months
• Annual Market Growth Rate: 1.4%
• Best for: Designers, SEO/SEM experts, creative entrepreneurs with HTML, CSS, and other basic coding skills

A web design business is another popular tech startup for those who want to provide B2B services—and with good reason. You can make a lot of money creating and maintaining websites for other companies, and you don’t need a ton of tech skills or startup funds to get going.

Granted, the most successful web design firms do have some advanced knowledge of concepts like data analytics, graphic design, content marketing, and similar skills. As tech skills go, though, these are relatively basic and you can learn them for free through online learning platforms if you don’t already have them.

What is a good startup business?

There’s no one answer to that question. The best tech startup idea is one that matches your skills and interests as the founder and solves a problem or provides a necessary service to consumers.

To decide if a tech business is a good choice for you, start by thinking about your areas of expertise and the types of work that you enjoy doing. From there, it’s a matter of researching the market and existing competition to identify the best tech startup ideas for you.

How to start a tech startup

The specific steps will depend on the type of business you’re starting. In a general sense, though, this starts with doing some research to verify and validate your business idea.

Once you think you have a successful business concept, the next step is to write your business plan to clarify the exact services or products you’ll provide, how you’ll differentiate yourself from other businesses in the niche, and how you’ll connect with your target audience.

Securing financing is the biggest hurdle to turning many tech ideas into real-world businesses. A combination of personal funds, business loans, and investor funding is often necessary to get tech startups off the ground.

How many tech startups fail?

Startup businesses in general have a relatively high failure rate, with roughly 10% failing in their first year and a failure rate of up to 90% overall, depending on which statistics you look at.

Businesses in the tech industry do tend to have a higher failure rate than other industries overall. It’s estimated that roughly 63% of tech businesses fail within their first five years. That number is lower for companies that are backed by venture capital or other investors, however, with a failure rate of around 30% for venture-backed startups.

How many tech startups are created each year?

This is another figure that varies year to year, with an increasing number of tech startups emerging each year as new technologies develop. Data from Microsoft indicates there are roughly 50 million new tech startups launched each year globally.

How to compare tech business ideas

You want to consider your business idea based on a range of factors to give yourself the highest chance of success. These can include:

• Your knowledge or expertise
• The current demand in the market
• Common customer problems or unmet needs
• Competition within the sector from other businesses
• Your geographic area and its needs
• Availability of the technology needed for the business
• Startup costs
• Average time to profitability
• Time investment required
• Industry growth trends

What are the most profitable tech startup ideas?

The most profitable tech startup ideas are ones that solve a problem for the most people. Online courses can reach up to 80% profit margins. There are plenty of other tech startup ideas that can make great profits, too. Social media has consistently been a high performer as have medical devices and energy startups.

When considering a tech startup idea, always conduct thorough market research, understand your target audience, and focus on solving real problems or improving existing solutions. Remember that a startup's success depends on execution, dedication, and adaptability to market feedback.

Which tech startup idea do you like?

We’ve introduced dozens of tech startup ideas to help you land on one that can be highly profitable. Remember, it helps to be passionate about your pursuit, too, because you will face challenges that will be difficult to overcome.

You’ll also want to have a thorough business plan with an inspiring mission and vision to help your company get the funding it needs to achieve its potential.

One of the reasons Elon Musk gets cut so much slack despite constantly drawing negative attention is because his goals align with a mission of saving the human race.

From Tesla trying to help us reach zero carbon emissions to SpaceX trying to take people to other planets and his purchase of Twitter to protect free speech, Musk shows us he’s trying to help humanity.

Your tech startup idea should aim to achieve similar lofty goals. What type of startup ideas do you like?