Working a full-time job is very hectic. It might not give you time for doing time-consuming side-hustles. What’s worse is some of these full-time jobs don’t pay sufficiently. They couldn’t cover much of your expenses. Some even work two jobs already but still don’t earn much.
If you’re in this situation, you might have already thought of starting a business. You might have eyed a lot of businesses but thought of not pursuing them because of schedule conflicts. Time constraints can be very hard to beat. This holds people back from venturing into a profitable business model.
But you should not give up on your dream of starting a business. There are already business ideas that can suit your very hectic schedule. These types of businesses can give you more time for your main job so you can focus on it. All these while generating revenue without needing much intervention from you.
If you’re curious what are these business ideas, check out the list below. You might find something that’ll be perfect for you and your skill set. These are the businesses you can do along with your full-time job.
Rank and rent
Google Search engine’s main page might look plain and simple. But that dominantly white web page is a multi-billion dollar business. That’s why websites are competing to be on the first page of the search engine. That’s the premise of a “rank and rent” business. You’ll first create a website of your chosen niche. For example. You’ve chosen construction as your niche. You’ll then create a construction website that shows all services a construction firm can offer.
The next thing to do is have it rank on the Google Search engine. Your job is to make it appear on the first page of the website whenever people search for “construction firms” or any related words on Google. If you’re successful with that, you can then rent it out to construction firms so that they can get clients.
A person contacting the website is a “lead.” You can then forward these leads to the construction firms that rent your site. Passive income comes from the monthly subscription paid by the construction firms. They’re paying you so they can get more clients for their business. The only maintenance you need to do is to regularly check the trends since it’s always changing.
One of the most known businesses that can bring passive income is renting out a property. It’s popular because many people tend to rent homes instead of owning one. As per a recent study by the homeowners’ guide site iPropertyManagement.com, there was a decline in homeownership in the US. Though many people are still buying homes, renting is a faster way to settle in.
So if you have a property that you can rent out, don’t miss the chance. Prepare yourself to become a landlord and hone your social skills. This is important for you to communicate with your renters. What’s good about renting out a property is that you can make your tenants take care of the space. But of course, you have to choose responsible tenants to get this advantage.
Make sure they’re capable of paying the rent. That’s where your passive revenue will come from. You can then have a monthly income while doing your main job. You can even get another property to rent out through competitive USDA loans. Or save your extra income for your retirement.
Sharing your skills
If you’ve mastered a skill and you’re an expert on it, you can earn from sharing it. If you are certified on something like a vocational course, you can make expert lecture videos. This is the only time you’re going to put the most effort into building this business.
You can then upload it to skill-sharing platforms like Skillshare and uDemy. Share all your knowledge in your technical skills. Sell your courses through these massive platforms. This will let the profits come in effortlessly. You can then continue with your full-time job while letting people buy and learn from your courses online.
This sounds far-fetched and might require formal or informal education. But if you’re a master coder, you have to be innovative. App development could be your key to getting passive income while you do your day job.
One thing you’re surely going to go through is brainstorming. You would have come up with a real-world problem that you think an app can resolve. If you’re able to develop a useful app, it’ll generate continuous revenue for you.
There’s no easy business out there. You’re going to exert any effort, especially on establishing them. But once you’re able to get them working, all you need to do is keep them going. That’s how you’re going to generate extra income.