That’s the beauty of passive income apps. Whether you get paid to invest in portfolios or save money on groceries, it’s possible to earn money outside of your 9-to-5, and do so in a way that requires very little energy or effort.

Although you likely won’t get rich overnight, passive-income earning apps that offer cash payouts can help you build an emergency fund or save up for a financial goal. And those that offer gift card rewards give you extra virtual cash to make purchases you need or ones that don’t fit into your budget.

17 Best Passive Income App Ideas Worth Downloading

There are tons of money-making apps out there you can use to generate passive income, but they’re not all worth the trouble. To help you earn extra money effortlessly, we found the best ways to make passive income from apps you should consider, and most of them can make you money while you sleep.

Some of these are side hustle-like apps that can lead to long-term revenue while others are apps you can download and only need to think about when you want to check your rewards balance.

1. DollarSprout Rewards: Use this desktop browser extension for free cash back

Key features:

• Available on Chrome and Safari desktop browsers, DollarSprout Rewards works in the background to notify you in real time of cash back opportunities.
• In addition to cash back offers, the extension also makes sure to check for any coupon codes and automatically finds the best one for your purchase.
• Your cash back accrues as actual cash, not points. Payments are issued to users each month automatically via PayPal for users with a balance of $5 or more.

Many people earn cash back on their credit card purchases, but most of them don’t know about the extra savings that are available to them on top of what their credit card offers. Cash back browser extensions like DollarSprout Rewards (similar to Capital One Shopping or Rakuten) give users the opportunity to earn additional cash back when they are shopping online.

The DollarSprout Rewards desktop browser extension has a network of over 15,000 online retailers so there is almost always a deal to be found (and if there isn’t a cash back deal available, the extension will suggest other similar retailers that do offer deals). The extension is free for users to download and use and is a great way to passively save money on things you were already planning to buy.

Download on: Chrome | Safari

2. Masterworks: Invest in shares of fine art

Key features:

• Invest in shares of art made by world-famous artists like Banksy, Andy Warhol, Mark Rothko, and more
• No minimum investment
• From 1995 to 2021, contemporary art has outperformed the S&P 500 (14.1% vs 9.9%, according to Masterworks)

While there is no “income” from art, per se, that does not mean there isn’t money to be made by investing in it. Until recently, though, only the mega-wealthy could afford to buy 6, 7, or 8 figure works of art. 

A company called Masterworks is changing that by making fine art investing accessible to more people. Instead of expecting a single investor to dish out millions of dollars for a painting, Masterworks lets investors buy shares of ownership in paintings. Just like you can buy shares of Coca Cola, you can buy shares in artwork from someone like Vincent Van Gogh. Usually, after 3-10 years of holding onto the artwork, Masterworks will then (hopefully) sell the art at a profit, and investors share in the profits. 

3. Tapestri: Passive Income for Sharing Your Location History 

Key Features: 

• Sell your anonymized location data to interested parties. 
• Earn up to $25 per month, every month for keeping the app installed. 
• No need to interact with app; just set it and forget it. 

Tapestri works with large brands all over the world to help them learn more about consumers. Data analytics is how. 

Brands need concrete demographic interest information to tailor and fine-tune their products and advertising. Age, gender, location, shopping habits, you name it, they need it. If you’re willing to anonymously donate that info, Tapestri will pay you for it. 

In all likelihood, you’re doing it already. Facebook, Instagram, TikTok, Waze, Snapchat, and a million other apps — they’re all using your information for free, consented of course by you when you first installed their apps and continue to use them. At least now you’ll be getting paid for it. 

The best part? There’s zero effort required. Merely install the passive income app, set your location sharing preferences to Always, and forget about it. That’s all there is to it, and you’ll earn up to $25 each month for it. 

Related: 15 Legit Ways to Make Money From Your Phone

4. Fundrise: Invest in real estate

Key features:

• Invest in a low-cost, diversified portfolio of real estate.
• Takes advantage of the premium returns usually seen in private markets to offer improved investment returns for the average investor.
• Portfolios are built to withstand prolonged periods of economic distress.

Traditionally, the barriers to investing in real estate are significantly high, which is why most people believe you need to have millions in the bank to participate. With Fundrise, people of any income can purchase shares from broad portfolios of real estate assets around the country through their two main products, eREITS and eFunds. In fact, all you need to start earning passive income is $500 to invest in a starter portfolio.

In our Fundrise review, we break down the ins and outs of the website and how you earn passively with this investing platform.

5. Honeygain: Sell your unused internet data

Key features:

• Free to install, then sit back and watch your balance increase.
• Earn passive income in minutes just by sharing your internet.
• Can connect up to 10 devices on one account.

Honeygain is a passive income app that monitors and collects your web usage and traffic data from your connected devices. Then, it pays you for that information to report it to e-commerce, advertising, and web intelligence companies. It’s available for Android, Windows, macOS, and Linux devices, and all you have to do to earn passively with Honeygain is run the app in the background.

Earnings vary, so the amount you earn depends on the traffic sent to your devices, which can be influenced by your location, network speed, and how many IP addresses you connect to Honeygain. With three connected devices, for instance, you can make an average of $19 per month, or $230 per year.

6. Dosh: Shop with this mobile cash-back app

Key features:

• Adds $5 to your Dosh Wallet when you sign up and link your credit or debit card.
• Earn cash back for making qualifying purchases at Dosh-affiliated establishments.
• Earn more cash back when you book hotels through the app or refer friends and businesses.

If you need a hassle-free app that gives you cash back each time you make a purchase at participating outlets, download the Dosh app on your smartphone. Unlike similar apps, Dosh automatically deposits your cash back without scanning and uploading receipts or using coupons or promo codes. It makes things easy; your only job is to shop as you usually would and watch your cash back grow.

You can even let Dosh inform your spending decisions to increase your passive income yield. For instance, before you grocery shop, check out Dosh’s participating merchants to shop where you’ll get the most cash back.

Once you have at least $25 in your Dosh Wallet, you can cash out the balance through your PayPal or bank account.

Read our full Dosh review to learn more.

7. Outdoorsy: Rent out your RV

Key features:

• Free 24/7 rental roadside assistance available for renters, and $1M in insurance for you and your renters.
• Outdoorsy runs DMV checks on all potential renters.
• Free to list your RV on the site, and you keep 80% of the reservation cost (depending on total).

As a peer-to-peer RV marketplace like Airbnb, Outdoorsy helps RV and camper owners list their rigs on the site so hopeful RV travelers can rent them. After you sign up, set up your Outdoorsy listing with attractive photos, a fair rate, a calendar for when your RV is and isn’t available, and wait for renters to book your RV.

You’ll have to maintain consistent communication with possible renters and manage the upkeep of your RV, but otherwise, this platform is almost completely passive.

Within 24 hours of a completed reservation, you’ll receive 80% of the total booking cost. Once your listing is active, maintenance and repair costs might cut into your profits, but Outdoorsy says you can earn up to $30,000 a year.

Related: How This Man Makes $1,500 Per Month Renting Out His RV

8. Worthy Bonds: Invest in local businesses

Key features:

• Can receive 5% annual returns.
• Bond sale proceeds are invested into small business loans and public and private investments, including real estate.
• You control how much and when you invest, and you can redeem bonds and their interest whenever you want.

If you want to make passive income while supporting small businesses, consider investing with Worthy Bonds. It says you can earn a 5% annual return just by “investing bond sale proceeds into a combination of asset-backed small business loans and other investments.”

When you buy bonds from Worthy, it loans money from those bond sales to businesses that want to buy inventory and generate accounts receivables. Once that investment grows, you receive your initial investment back plus an extra 5% interest. Plus, you can invest as low as $10 and still earn a 5% return without having to pay any fees.

Related: How to Start Investing with $100

9. Swagbucks: A search engine that pays you

Key features:

• Surf the web for the chance to earn points, or SB, on every query.
• Earn even more SB by installing the Swagbucks Search Chrome extension to make it your default search engine.
• Redeem your SB for PayPal cash or gift cards to your favorite retailers.

When you use the Swagbucks search engine, the more you search, the more you earn. Any time you search something through Swagbucks, you stand the chance to earn SB (points), which amount to roughly $1.00 per 100 SB. Once you have at least 300 SB, you can cash out your points for PayPal cash or gift cards to stores like Target, Amazon, and Walmart.

To keep earning, don’t just stop at the search engine. Swagbucks offers other ways to make money in your spare time through surveys, games, videos, or more. Learn more about how to earn with this multifaceted app through our comprehensive Swagbucks review.

10. Sweatcoin: Take one step at a time to earn passive income

Key features:

• Earn Sweatcoins (SWC) by letting the app run in the background and track your steps.
• Use accumulated coins to donate to a cause or purchase goods, services, and experiences.
• Get paid to be healthy.

Available for Android and Apple smartphones, the Sweatcoin mobile app pays you to walk by rewarding you with coins, known as SWC, for the steps you take.

With the SWC you earn from your everyday steps, you can exchange them to purchase goods, services, and experiences ranging from high-tech shoes to anti-gravity yoga classes, from iPhones to Apple Watches and much more. Sometimes, the reward can even be cash deposited to your PayPal account.

To passively earn more SWCs from your steps, check out our Sweatcoin review and learn how to maximize your rewards.

11. Turo: List your car and let it do the earning

Key features:

• Sign up and list your car for free, and use the app with no monthly fees.
• Get paid via direct deposit within three days after each trip.
• Receive up to $750,000 in liability insurance coverage with each protection plan.

Let your car pay for its expenses and download the Turo car-sharing app to earn passive income. Considered the world’s largest car-sharing marketplace, Turo lets you list any car that’s no more than 12 years old and doesn’t exceed $150,000 in value. And depending on the vehicle protection plan you choose, you get to pocket 65% to 85% of the total trip price.

To get started, ensure your vehicle fits the requirements. Next, add the necessary information needed to list your car, like make, model, and special features. Once you’ve set a daily rate and are ready for renters, making passive income with your car from there is simple. All you have to do is manage your reservations and wait for Turo to direct deposit your money.

12. OnMyWay: Get paid to not text and drive

Key features:

• Earn cash for every mile you drive and don’t text.
• Exchange your OnMyWay Cash to buy deals at any participating retailers.
• Uses your phone’s built-in functionality so it won’t drain your battery.
• Immediately receive $10 cash when you sign up and use the app.

With OnMyWay, you can make passive income from being a safe driver by not texting and driving. The app pays users to stay off their phones when they drive.

As you drive, you’ll earn $0.05 for every mile you don’t text and drive. And when you refer a friend who signs up to use the app, you’ll score $2 plus $0.02 for every mile they drive without texting. With the OnMyWay Cash you earn passively, you can redeem store cards, cash cards, travel deals, and access free deals and discounted offers every day.

To sign up, go to the website and enter your phone number, then download the data collection app through the link you receive. Once you’re all signed up, OnMyWay will automatically activate every time you drive over 10 MPH as well as disable text and app alerts.

13. MobileXpression: Let this company access your data

Key features:

• Guaranteed rewards for participating.
• Members are eligible for weekly credits they can redeem for gift cards to popular retailers like Dunkin’ Donuts, Cold Stone Creamery, and Amazon.
• It’s free to use and available for both Android and Apple devices.

MobileXpression is an app you download on your smartphone that helps companies understand the trends and behaviors of people that use the internet. After you download and sign up, the app collects data to help companies better understand users’ web and mobile usage, like what kinds of sites and apps are most popular, the times of day people browse the web, and how long they stay on websites and use apps.

Because you let it slowly collect usage data as you go about your day, you earn credits that you can exchange for $10 gift cards or higher to places like Amazon, Starbucks, and more. It’s unclear how many credits you earn to keep the app installed or how much you’ll earn from surveys, but the app offers plenty of rewards.

For instance, after your first week, you automatically receive a $5 Amazon gift card and new members are entered into the $100,000 sweepstakes. Additionally, every month one participant receives $100 as well as the chance to win $2,500 or $5,000.

Related: How to Get Free Amazon Gift Cards

14. National Consumer Panel: Get paid to share your opinions

Key features:

• Earn points and great rewards when you share your shopping data and opinions.
• Each week you participate, earn reward points that you can redeem for gift cards and a wide variety of merchandise.
• Get even more rewards and incentives when you participate in surveys and special programs.

With the National Consumer Panel (NCP), your opinions matter and are worth points and rewards. A joint venture between Nielsen and IRi, two leading consumer insight providers, NCP members answer surveys and scan barcodes of the items they buy every week to earn reward points, sweepstakes entries, and other prizes.

As a new member, you’ll earn reward points for registering and reporting your first shopping trip. You score 150 points each week NCP receives your shopping data, but that amount increases the longer you’re on the panel. While points are largely earned by scanning your weekly purchases, you can look forward to 250 reward points on your birthday, 1,000 bonus points on your six-month and one-year anniversaries, plus each anniversary after.

Once you have at least 9,000 points, you can redeem them for gift cards and a wide variety of merchandise, like electronics, home appliances, sporting goods, toys, and more.

Related: 15 Legit Paid Focus Groups You Can Sign Up for Today

15. UpVoice: Browse the world wide web

Key features:

• Earn a bonus of 300 tokens upon signup.
• Continue your regular browsing activity to earn daily points.
• Take advantage of additional opportunities to earn and complete surveys from brands who want your opinion.

Instead of surfing the web for free, earn some passive income by adding the UpVoice extension to your browser to let it track your ads. In exchange, you earn daily points that you can redeem for gift cards to eBay, Best Buy, Nike, Target, Sephora, and more.

UpVoice’s participating sites include YouTube, Facebook, Twitter, Instagram, Amazon, and LinkedIn. When you browse one or more of those sites with the UpVoice extension on, you receive a total of 10 tokens daily. That means if you scroll through Twitter for 15 days in a month, you’ll earn 150 tokens. In the first year, UpVoice says you can make $75 or more in rewards.

16. Robinhood: Buy and sell stocks

Key features:

• $0 opening balance and no annual fees.
• Invest in thousands of stocks with as little as $1.
• Customize your portfolio with pieces of different companies and funds to reduce risk.
• Offers commission-free investing in individual companies or ETFs.

If you want to try stock market trading, consider signing up for Robinhood, a commission-free trading app used to trade stocks, ETFs, options, and cryptocurrency. Experts and beginners consider Robinhood a tool that supports portfolios and generates passive income, especially since you can buy and sell stocks for free.

Plus, when you download the app, Robinhood funds your account with free stock that could be worth up to $207. Read our Robinhood review to get a full picture of Robinhood’s features and how it streamlines the process of investing in and buying and selling stocks.

17. M1 Finance: Invest with a robo advisor

Key features:

• No-fee robo advisor for passive or beginner investors or for investors who want a combination of automation and hands-on control.
• Free to trade, open an account, and there are no account minimums.
• Automates investing and rebalancing.

Best for passive investors who want to build their investment strategy without relinquishing total control, M1 Finance is an online investment platform that gives you the autonomy to choose your investments with access to a robo advisor should you need guidance or assistance.

M1 Finance lets you invest in stocks, ETFs, and fractional shares of companies. And one huge perk is you can create a joint account with a relative, spouse, or domestic partner. With no minimum to open an account, no management account fee, and no fee to trade, you can focus on putting your money where it needs to be to generate the most passive income.

Small income gains are still meaningful

It’s possible to create a consistent stream of passive income with any one of the apps on our list. While using only one passive income app probably won’t pay the bills, using multiple apps can eventually let your hobbies, smartphones, pastimes, and vehicles pay for themselves while you sleep.

Related: 18 Passive Income Ideas You Can Use to Build Wealth Around the Clock

The post 17 Passive Income Apps Everyone Should Be Using appeared first on DollarSprout.

What he didn’t expect was an overwhelming interest in the rental of his trailer, leading him and his wife Christin to earn $3,600 in their first 90 days — almost half the value of the unit he intended to sell.

In two-and-a-half years, Braeuer has gone from renting one unit to four, and he’s racked up more than 100 reservations for families of all sizes in need of a memorable and affordable vacation.

Getting to share his love of the open road with others is the real bonus for Braeuer, though earning thousands per month isn’t too shabby either. 

How Mike Braeuer Earned $50,000 in Two Years With RVshare

Because Braeuer, his wife, and their four kids are a big family, they always look for ways to cut back on their expenses. In fact, they stumbled upon the financial benefits of RV life after taking an RV trip to Disney World. They found that what would have been a $10,000 trip cost about 80% less.

At first, Braeuer wasn’t interested in renting out his RV. He wanted to sell it. It was his research into finding the best place to sell an RV that led him to renting it with RVshare instead. Once he learned RV renting could be a profitable side gig, Braeuer set off to help others see the great outdoors at a fraction of the cost. To do that, he makes calculated decisions about their investments.

Instead of Class A RVs, Braeuer buys more affordable options and pays them off quickly to turn a profit.

Before you purchase a new or expensive RV, he advises you research four critical factors: which models people like to rent, how often they rent them and for how much, and how much you could purchase that model for.

When you list your RV, scan the market, and offer competitive pricing. While you don’t want to go too low or high, it’s up to you to decide what you’ll charge.

Related: How to Make Money Renting Out Your Car with Getaround

5 Tips to Make the Most Money Renting an RV on RVShare

As you consider whether the RV rental side hustle is worth your investment, keep these tips in mind.

1. Master the art of letting go.

If the thought of strangers in your bed or bathroom is unbearable, even after a cleaning service, renting out your space may not be your calling.

Having people in your space is “probably the biggest hurdle RV owners need to get over,” says Braeuer. Because ultimately, there are solutions like cleaning services and bed covers, or even a new mattress, if you need them.

Another harsh reality is that things will break, and you should practice patience when they do. Instead of getting angry, work quickly to replace or fix the broken items, or coordinate with your insurance company.

After 112 reservations, Braeuer has only filed four “semi-major” insurance claims, with the highest one amounting to $12,000 after a renter drove his 15-foot RV under a 14-and-a-half-foot bridge and scraped the AC unit off the roof.

Though frustrating, Braeuer quickly received an insurance check for $12,800 to cover the damage.

Almost three years in, he has a new outlook: “Early on, we would have been more sensitive to those RV nuances that we’ve gotten used to because someone who’s doing it for the first time won’t even know to ask [a certain] question.”

It’s easy to blame a renter who doesn’t know how to light the stove or the water heater, but these tasks aren’t second nature for first-timers.

To empower your renters and avoid small (or big) hiccups, Braeuer recommends clear communication from the start and to point people to helpful resources, like instructional videos or guides.

Related: 7 Ways to Make Passive Income with Your Car

2. Secure the right insurance coverage.

Although Braeuer had to file an insurance claim by his second reservation, RVshare’s effectiveness through the process encouraged him to keep renting.

Besides their professionalism, Mike was impressed by their assistance with paperwork and their willingness to help maintain smooth communication between all parties. They took care of everything; the only thing Braeuer had to do himself was file the claim.

Not all repairs require a claim, but when they do, use RVshare Rental Insurance:

• It provides up to $1 million in liability coverage and $200,000 for comprehensive and collision coverage through MBA Insurance.
• Rental coverage is activated for free after you list and book your RV.
• When your RV is covered by RVshare’s insurance, standard coverage is automatically included in your booking quote.
• If your RV is more than 15 years old, you only qualify for liability coverage.

Rates vary for RV models, but Braeuer says RVshare negotiated a fair rate on his behalf, and it helped him choose a policy that best fits his needs.

You’re welcome to secure your own coverage if you don’t want to use RVshare’s insurance. Howver, you can’t use them both at the same time.

And since you can’t fill in coverage gaps in your policy with RVshare’s insurance, be sure to choose the insurer that provides the best, most comprehensive insurance that will make you and your renters feel the safest in any situation.

Related: 37 Creative Ways to Make Money Fast

3. Hold up your end of the bargain: Maintain good customer service.

From documenting every transaction and vetting each customer to providing roadside assistance and not charging upfront costs, RVshare’s platform is a passive income paradise for owners.

But despite its effortlessness, your rental business won’t thrive without attentive customer service. You still need to be available to answer questions and concerns, as Braeuer does. He makes sure he talks with renters through their concerns as well as supports their vision about their dream RV trip. 

And make sure you respond quickly. “If you don’t respond to someone when they hit the ‘book now’ button, you’re not going to get that reservation,” warns Braeuer.

Good customer service is a win-win: Renters will appreciate your thoughtfulness, and it’s a good tactic to beat out your competitors.

Related: How to Get Started with Real Estate Investing for Beginners

4. Anticipate these costs and get creative to keep them down.

Braeuer’s maintenance costs increased with four units, but he says, “Most of the residential aspects [of RVs] aren’t too costly to maintain.”

Many repairs are simple and only need a trip to the hardware store and a YouTube tutorial or two. Braeuer estimates he spends $30 to $50 on repairs per reservation. And every fourth or fifth trip, he might have to buy a $100 part.

Cleaning services cost $60 per reservation, but Braeuer saved money and did the cleaning himself when he had fewer units. Additionally, he stores his units on a small lot he has access to from a previous employer. This saves on the cost of RV storage lots.

Even with rising costs, Braeuer has been able to pay off an RV, purchase more, and take paid vacations by doing a lot of the maintenance work himself.

To have the same experience, follow in Braeuer’s footsteps. Be open to new skills that require less service from others, and be ready to get your hands dirty. You can save on expenses by doing maintenance work yourself or bartering within your network.

It might also help to prioritize maintenance expenses in your budget. Allocate a portion of your earnings to them each month before you pay yourself.

5. Note the highs and lows of seasons.

Typically, Braeuer’s units earn him an average of $1,500 to $2,000 per unit per month in his city of Austin, Texas. The most popular seasons are spring, summer, and fall.

In fact, he recently experienced his most successful months yet after he earned nearly $20,000 in May, $26,000 in June, and $28,000 in July after buying his fourth unit.

But Braeuer isn’t just in it for the money.

Although it was shocking to experience at first, their first winter lull reminded him and his wife that slow months give them the chance to use their own RV.

Before you buy an RV to rent out, accept all the possibilities. Sure, you might make money right away like Braeuer. But it might also take some time to turn a profit, especially if you’re not in a popular destination like Austin.

Either way, enjoy what comes of the process. At the very least, it doesn’t hurt to know that all you need for a vacation is to pack up and drive.

Renting Out Your RV: A Side Hustle Worth Exploring

Braeuer says his life is one experiment after the other, and he just waits to see what works.

RVshare definitely works. He eventually sold his Jayco Jay Flight RV trailer for $7,700. Combined with what he earned from renting it, he made out with more than the unit was worth.

Besides the financial gains, Braeuer’s journey with RVshare has been filled with positive experiences. He loves introducing first-timers to the world of RVing, and it’s rewarding to help people while managing a side hustle that pays for itself.

You can’t quit your job renting one RV, but it’s a great side hustle that can help pay for your vacations and put some extra money in your pocket.

The post How One Man Makes $1,500 Per Month Renting Out His RV appeared first on DollarSprout.

However, that’s exactly what happened in 2019. A wife and mom of two young boys, Nikki has spent the last few years balancing her family, her education, and a full-time job as an advocate for children and families impacted by the foster care system.

On top of all of that, she’s been busy creating an online business cooking and sharing her homemade recipes with her followers on social media.

Although she always received praise for her food photos, Nikki admits, “As a self-taught cook, I’ve always loved food, but I never really thought my hobby would turn into a full-fledged business.”

Still, Nikki trusted her gut, listened to her friends, and ventured into the world of online entrepreneurship.

How Nikki Turned a Hobby into a Food Blog and Online Business

The success Nikki has today with her growing food blog, What Yall Eatin’, is nothing she ever thought she’d experience. In fact, she professes it happened by accident.

“This all came about when I had some leftover ground beef in my fridge and thought to repurpose it into authentic Haitian patties,” she explains.

 

 

 

 

 

 

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A post shared by N I K K I G. #WhatYallEatin (@what_yall_eatin) on Jan 12, 2020 at 6:19pm PST

But having never made these Haitian delicacies before, Nikki did the next best thing. Then she reached out to a close friend for feedback, and what happened next took her by surprise.

“Oh my God, Nikki, you need to sell these,” was the enthusiastic reaction she received after her friends and family tried them. But she still wasn’t sure.

Finally, after weeks of deliberating, Nikki decided to test the waters and run a patty sale on her personal Instagram page. She also wanted to gain insight into how much interest there was for her product in what seemed like an already oversaturated market.

The result? “The sales were incredible; far more than anything I could’ve ever imagined,” she said.

During her first month of sales in 2019, she earned $1,800. Recently, she made the same amount in a single weekend. “If I had the time, storage capacity, and an assistant, I could easily make $5,000 per month,” shares Nikki.

Since it’s not a perfect world, she only sells on weekends and caps her orders to a limited amount to avoid being overwhelmed — much to the dismay of customers who don’t place an order fast enough.

5 Tips for Launching Your Own Online Food Business

Whether you’d like to start a blog or need some tips to grow your online business, take a page from Nikki’s recipe book.

1. Take advantage of your current social media following

The people who have followed you from the beginning, and continue to follow you, should be the first customers you approach. Not only are they already invested in you, but that familiarity might also make it easier to evaluate their needs.

That’s how Nikki got started. Before she branched out and created a new account for her food blog, she was already promoting all her recipes and dishes on her personal Instagram account for fun.

“But after I received so much positive feedback from the patty sales,” she said, “I decided to create a second business page on Instagram dedicated strictly to my food blogging.” However, she continued to use her personal page to boost her blog and simultaneously promote recipes and patty sales.

She posts flyers, enticing food photos, and other content that has brought in a loyal and growing clientele that continues to support her. Nikki also engages her community through patty giveaways, sharing pictures of happy customers with her patties, and asking her followers what dishes they’d like her to create.

That’s a tip any aspiring online business owner can use. Asking your audience about their needs and including their pain points in the development of your product makes them feel heard and seen, and it’s one way to ensure they keep coming back.

Related: 16 Online Business Ideas You Can Start Today

2. Set the price that’s right for you

Before you begin selling your product, you need to find the right price. Part of that consists of knowing your market and choosing a pricing strategy that can drive your long-term success.

After a successful first month, Nikki began to see the viability of her business. She and her husband Jimmy had extensive conversations about how to settle on a fair price, and thanks to his business sense, Jimmy was able to help Nikki do that.

Her process included comparing prices of similar businesses as well as sticking to her belief of making something affordable that didn’t lack in quality.

Most Haitian bakeries sell a box of a dozen patties for $25 to $35. Using that as a framework for her prices, Nikki set her price to a dozen patties for $20 and six for $12. To protect her bottom line, she doesn’t sell her patties individually.

With minimal overhead and costs for ingredients, Nikki’s profit margins showed significant potential without needing to price her product unreasonably.

As she considers adding new products to her menu, she follows the same pricing process.

3. Take the right steps

Making money blogging is one thing, but before you sell any goods or services, make sure to find out if your state requires you to have a license or permit. The last thing you want is to get stuck with fines, fees, penalties — or worse, jail time — for operating “illegally.”

This is especially important if you’re running a food business. To protect herself, Nikki registered What Yall Eatin’ as a Limited Liability Company (LLC) in Florida. This protects business owners and their personal assets from personal liability.

Since LLCs separate individuals from their business, assets like your bank account or home can’t be used to collect on business debts in a lawsuit.

Nikki envisions a bright future for her business, so the benefits of an LLC — especially the protections it provides for small businesses — appealed to her.

In addition to establishing an LLC, Nikki applied for a permit from her state’s Department of Agriculture to ensure she didn’t have any issues running a commercial kitchen. It comes with a hefty price tag — upwards of $500 annually for baked goods like Nikki’s — but it’s easier for her business to thrive with this type of approval.

Depending on the kind of business you’re running, you might need to secure special licenses, permits, or insurance. Check with your state to find out what you need, which agency to contact, and how to apply.

You might also want to consult with an accountant or attorney to make the best decision for you and your business.

Related: 29 Best Work-from-Home Jobs You Can Do from Anywhere

4. Brick-and-mortar isn’t the only way to go

“I think not having a brick-and-mortar location is one of my biggest assets as a business owner,” Nikki reveals.

 

 

 

 

 

 

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A post shared by N I K K I G. #WhatYallEatin (@what_yall_eatin) on Aug 22, 2020 at 6:47am PDT

Having an online business means Nikki has little to no overhead expenses and no massive stock of supplies to keep up with. This helps her generate more profit and eliminate waste by providing a cooked-to-order product, even with the added cost of ingredients.

Plus, Nikki has limited availability. That works for an online business but wouldn’t bode well for a brick-and-mortar location.

When she first started her business, Nikki’s stay-at-home mom status allowed her much more flexibility. Now, her schedule has tightened significantly, making it difficult to host patty sales as often as she’d like.

But the seeming “exclusivity” of her once- or twice-per-month sales provides a momentum her online business can rely on. Plus, in between sales, she regularly posts recipes and tutorials to engage her followers with fresh, new content.

As you successfully grow your online business, it might make sense for the next step to be increasing your sales and building your brand by leasing a storefront or an office space.

Before you do that, though, assess the risk. Carefully consider all the ways it could affect you, your customers, and your bottom line.

Related: How to Take Your Brick-and-Mortar Business Online

5. Create a unique value proposition

For Nikki, it’s a flakeless take on Haitian patties, which she says are known to leave pastry flakes all over your clothes even with a single bite.

 

 

 

 

 

 

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A post shared by N I K K I G. #WhatYallEatin (@what_yall_eatin) on Mar 24, 2020 at 9:01am PDT

To set herself apart, Nikki assessed all the complaints she heard about the original Haitian patty: too crumbly, the three-fold structure provides more dough than filling, and the dough handling isn’t always conducive to a patty with a good rise.

“I tried to come up with a formula for people on the go so they could eat my Haitian patties anywhere,” says Nikki. Her ability to create that has been her biggest selling point.

Perfecting her recipe was vital, so Nikki held focus groups with friends and family to receive feedback on her progress.

After changing the cooking temperature, the folding structure, and the way to lay out the dough beforehand, Nikki ended up with a flakeless patty that gives customers filling in every bite.

Consider what you’re selling and look at how you can improve or alter it slightly to make it unique. By offering a product that stands out from others like it on the market, you’re providing immense value for your customers, which can increase your profits and your reputation.

Related: How This Woman Makes $2,000 Per Month from Her Mom Blog

Create a Blog or Online Business That Works for You

Nikki had no idea her patties would take off the way they have until she took one small step.

“What started out as a tiny seed planted in my mind from someone who believed in me has now grown and evolved into a really successful platform for great food and good vibes,” she said.

When you start a business, one step is all it takes.

Depending on what services or products you’re offering, you might want to start a blog using WordPress or create an Instagram account to take advantage of IGTV. Maybe you want to set up an online shop on Etsy.

Whatever you choose, do what’s best for you and your business, and remember that your journey is your own. Your process doesn’t have to look like anyone else’s.

While there are some basic guidelines to follow, running a business isn’t a one-size-fits-all experience. Focus on creating a product that caters to your audience and works with your skills and goals.

The post Bon Appétit: How This Chef Makes $2,000 per Month with a Food Blog appeared first on DollarSprout.