Passive income is my favorite type of income. And if you’re looking to learn how to make $200 a day in passive income, you’re on the right track. Plus, I’m definitely not going to ask why you need to have $200/day in passive income flowing into your wallet or account.
That’d be absurd.
You need money for different reasons. Even if you don’t need money, just have it. Speaking of $200/day, that’s about $6,000 dollars a month. In one year, that’s about $72,000 dollars. It’s good enough considering how your passive income can grow from month to month.
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With all of that said, here are 11 ways to make $200 a day in passive income.
How to Make $200 a Day in Passive Income: 11 Authentic Methods
Create a Blog
Creating a blog will not make you $200 a day in passive income. Growing that blog will take you there. So, you want to start by creating your own blog, and then growing it to make money.
Unless you’re looking to start a web content portal like Wikipedia or an online publishing business like Nerdwallet, then you want to pick a niche first before creating your first content. You want to pick a niche first before creating the actual blog; and this is because the niche will be the center of your blog.
From the very first content to the last, it’ll be formulated on topics around a particular niche or a series of related niches. Blogging is profitable, and it’s one of my favorite ways to make money online.
And while I’m not making $200 a day in passive income just yet off my blogging career, it’ll happen someday soon. I’ll be posting my income report and traffic stats after one year (soon), so stay in touch. If you’ve not started blogging yet, click here to learn how to start a blog and grow it from scratch.
Develop a Simple Tool Online
If you’re like me, then you’d like to have something like this that generates money for you 24/7. An online tool is less expensive to build versus a mobile or PC software. You just need to have an idea of a tool to build online.
And it’s important for you to determine if this tool would serve a general market or a niche market. The more niche-specific your tool is, the more buyers you’ll attract. Not visitors.
You’ll get more people who are willing to pay for it because they actually need it. But if you’re developing a tool online for just about anyone, like a tool to rate one’s IQ, fewer people will be willing to pay for it. But buyers come in when your tool remedies a particular challenge in a niche.
Think big. You’ll need it to make $200 a day in passive income.
Do Affiliate Marketing the Right Way
Affiliate marketing is a way to make life-changing money, and it’s cheap to start. You basically promote products for brands and get paid when people buy these products. If they don’t buy the products you promote, you’re not getting paid.
So, you promote, they buy, you earn. The more sales you’re able to bring to the company, the more money you get to make. If you’re unable to make sales or promote the products well enough for people to buy, you get paid nothing for all the promotion efforts.
There’s a way to do affiliate marketing the right way, and if you’re able to get it right (and learn it in and out), then you’d be able to make more than $200 a day in passive income off it.
Start Drop-shipping
Drop-shipping is another way to make passive income to the tone of $200 a day. It’s a simple business model, and it takes the form of e-commerce 100% – the way it works is similar to ecommerce.
Drop-shipping is the shadow of e-commerce; it’s not entirely e-commerce but it’s some pattern of it with the challenges of inventory management off.
Basically you’re creating an ecommerce store online and then you’re connecting it to another e-commerce store. When people visit your store to buy stuff, the orders they create go straight to another e-commerce supplier (the original supplier), and this supplier is responsible for packaging and shipping.
The good thing is, the clients will never know about the backend organization of things and how you had no business with packaging or shipping the products. Learning about drop-shipping before venturing into it will set you on the right path.
Make YouTube Videos
Other than just making shorts on YouTube, you’ll need to make real videos so that you can monetize them and generate passive income. If you’re able to edit and make videos professionally using video editing tools for YouTube, then you’ll thrive through consistency.
The first thing you want to do is to pick a niche and focus on that niche. Next, get a list of keywords for your YouTube channel and have the same editing for all your videos. Learn about SEO for YouTube and capitalize on it to take your YouTube channel from nowhere to the top. This could take months or years. It depends on your strategies and your niche.
Podcasting
Podcasting is a way to reach out to the world, but it’s also a way for you to make money while doing what you love doing. This is basically creating audio based contents which can also be a video too.
But it’s about talking about a particular topic, or multiple related topics. People want to watch podcasts more than they want to watch a pre-edited video. Podcasts are more engaging, and before you start making yours, you’ll need to learn exactly how to make them and promote them to reach your target audience.
Podcasting is a way to make $200 a day passively, and this is because you can monetize your podcasts in different ways to ensure passive income. I’d tell you, growing a podcast requires consistency.
Start a Mini Mart
A mini mart is a small store that can make you a lot of money. Generally, mini marts can generate over $200 a day passively, and even more than $5k/day in sales. More than that.
But before starting up something like this, there’s every need to undertake a feasibility study just to know how profitable the business can be in the location you’re looking to start off from.
Whenever you’re looking to start up a business that’s gotta have a physical location or an office, always consider the commercial/business potential of the location before anything else.
It’s pertinent to growth and profit overall.
Own a Barbering Salon
If you’re good at barbering, then you can open a barbering salon of your own to make money passively or actively (if you’ll be your only worker). Barbering is definitely one of the best ways on how to make $200 a day in passive income.
It can be passive if you’re able to hire a staff or more who work during the opening hours of the day and also run the maintenance of the barbering salon. You can make this work even if you have no idea how to cut hair.
But if you’re good at cutting and grooming hair, you have more advantages and you can fill the void before hiring an expert barber. Or more.
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Start a Grocery Retail Store
Launching a grocery store of your own can be an expensive feat, but it’s one of the many investments that you can never be wrong about. A grocery store provides value that only business outfits like the supermarket, mini mart, or the retail store (which can include groceries) can fill.
So, a business like this is usually a money maker. Depending on the size of your grocery store, you’ll be able to make $200 a day in passive income and even 5 times that amount of money in pure profits.
Yes, it’s really possible to make $1,000 a day from a grocery store. This is even a bare minimum figure for grocery stores and I’m assuming you launch yours in a remote vicinity. According to research, the average grocery store makes $14 million a year.
This turns out to be around $38,356 a day. Obviously, $200 is a joke here. And you’re probably going to make several thousand dollars every single day off your grocery store. The challenge would be the capital to start a grocery store from scratch.
How to Make $200 a Day in Passive Income: 9 Authentic Methods – Summary
As a closing remark, some of the authentic ways to make $200 a day in passive income online and offline include starting a grocery retail store, opening a barbering salon and hiring barbers to work there, opening a mini mart, launch a drop-shipping store online, podcasting, affiliate marketing the right way, blogging to make money (and not for fun), building an online monetizable tool, and growing a YouTube channel.
Now, you can’t do everything simultaneously. You have to focus on one first; the one that resonates with you the most, and then you can branch into others later in time.
