Beyond stocks and rental properties, a handful of surprisingly accessible investments let you earn money from things like hit songs and hungry strangers, and most people never think to businesses that operate with zero employees and very little oversight. Investors can buy or lease machines, arrange to put them in certain locations, and earn passive income whenever customers buy something.
Traditional snack and drink machines are the mainstream option, but today’s vending businesses can get pretty darn creative. Airports in particular these days are full of machines selling things like phone chargers, travel-sized beauty products, and personal care items. Japan is known for their “buy a banana” vending machine, although we’re not sure the yellow fruit would sell as well in the obesity-rich USA. Regardless, a well-placed machine offering novel products or necessities can generate a decent chunk of money.
The biggest challenge is finding a profitable location. Vending machines in airports and hospitals do so well for good reason: people are trapped sitting and waiting for long periods of time. A vending machine in a busy apartment building may be worthwhile, while the one tucked into the corner of the nearly abandoned park won’t be worth your time. Investors also have to think about inventory, restocking, electricity, maintenance, payment processing, and any fees paid to the property owner.
The cool thing about these three options is that they approach passive income from very different directions. And they are all ways to earn passive income that many people don’t consider. None guarantees a monthly profit, but they each offer less conventional ways to put your money to work.
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Christian Drerup
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