Passive income is an income stream that doesn’t require you to spend a lot of time or effort working on. For example, if you put up your house for rent, the monthly payments you’ll receive from your tenants is passive.
On the other hand, your day job as a nurse is NOT a passive income stream because you’re paid depending on the hours you work.
In this article, we shall be looking at 10 passive income side hustles that would be suitable for nurses. Although all the ideas discussed are not necessarily within the healthcare niche, they’re all easy to start and don’t require any prior experience.
10 Passive Income Side Hustle Ideas for Nurses
1. Stock photography
Do you enjoy taking photos as a hobby? If so, you can make a decent income by licensing them out through stock photo websites like Shutterstock and Alamy.
Every site is different, so make sure you do your research before choosing one to partner with. You can publish photos of pretty much anything. For instance, if your employer allows, you can take photos of yourself posing in different scenarios in the hospital – while in your scrubs.
Such stock photos have massive demand online and are often used by advertisers to sell different products.
2. Create an online course
A lot of people have recently developed an appetite for knowledge. The uptake in online courses is currently through the roof. You can take advantage of that by creating your own course based on anything you’re good at.
It doesn’t even have to be within your nursing profession. For instance, if you love cooking, then you can create a cooking course. If you’re good at pencil sketching, you can create an art course. The possibilities are endless.
The bulk of the work will go into creating the course content, but once you upload it online through sites like Teachable, people will be able to enroll and access it without any further work from you. It’s one of the best passive income side hustles for nurses.
3. Write an e-book
If you’re knowledgeable on a certain topic and you enjoy writing, then you can self-publish an e-book through Kindle Direct Publishing.
Although it may sound daunting at first, writing e-books is not that difficult. It doesn’t have to be hundreds of pages long. Even if you can just put together 15 pages of quality content, it can qualify as an e-book.
And once you’ve published it, you could even sell thousands of copies without any further work from you. It’s such a great way to make passive income.
Through Kindle Direct Publishing, you’ll get access to millions of Amazon customers, which means you won’t have to spend a lot of time or money on marketing. The only downside is that you’ll have to pay Amazon a small commission from your sales. Alternatively, you could sell the e-book through your own website and keep all the income.
4. Start a blog
If you’re a great writer but you just don’t have it in you to write an entire e-book, then you should consider starting a blog instead.
The blog can be on virtually any topic of your choosing. Once you start to get organic traffic, you’ll be able to make money through ads, affiliate marketing, or even selling your own merchandise.
5. Affiliate marketing
If you happen to have a large audience on social media, a blog, or YouTube, then you should definitely look into affiliate marketing.
Affiliate marketing is a marketing method where companies pay individuals a commission for helping promote their products. You can sign up on affiliate networks such as CJ Affiliate, Clickbank, or even Amazon to find products that would resonate with your audience.
Whenever someone clicks your affiliate link and then proceeds to make a purchase, you get paid a commission from the sale. You can make some serious money if you’re promoting expensive products such as treadmills, bicycles, and professional cameras.
There are many different ways to promote affiliate products. If you’re targeting Gen Z and Millennials, you may want to go for YouTube and Instagram since these networks are more into eye-popping, bold content, which is popular on such platforms. For example, pictures and videos make for ideal social media posts for med spas, a very image-focused industry.
But if your target demographics are more serious, well-educated users, you may have to publish in-depth, industry-specific content on LinkedIn.
6. Rent out your car
Do you have a car but you’re not planning to use it for a while? Or do you happen to have an extra car just taking up space in your garage? If so, then you can make passive income by renting it out to other people through Turo.
7. Rent out unused space
Do you have an unused storage space, garage, or parking spot in your home? If so, then you can also make money by renting it out through Neighbor.
8. Peer to peer lending
This is another excellent side hustle to make passive income as a nurse. P2P lending sites like Prosper connect you with individuals and businesses looking for small loans.
Although loaning has traditionally been seen as a high-risk business, Prosper provides a layer of security by screening all its loan applicants to ensure that they meet certain criteria. You can make anywhere between 6% and 35% interest from your loans.
9. Get cashback from shopping online
If you’re addicted to online shopping like many people are, you can sign up on sites like Rakuten to get cashback any time you buy things. Rakuten has so many popular outlets, including eBay, Macy’s, and Target. Some of them offer up to 30% cashback.
10. Sell your old unused items online
Although this might not qualify as a side hustle, it’s still a great way to make some extra cash fast. Sites like Poshmark, TheRealReal, and Mercari allow you to list your old clothes and accessories online easily. In most cases, all you need to do is use your smartphone‘s camera to snap photos and then publish them with your listing
