This 34-year-old makes greater than $5,100 a month in passive revenue—this is how she acquired began
In 2015, at age 26, I used to be laid off from my six-figure job as a copywriter. It felt like a serious setback on the time. However trying again, it was the motivation I wanted to turn into my very own boss.
Instantly after my layoff, I used to be requested to be a bridesmaid for 2 weddings. However relatively than feeling burdened, I noticed a chance. I had been a bridesmaid nearly a dozen instances earlier than, and never solely did I take pleasure in it, I used to be additionally good at it.
So I posted a bridesmaid service advert on Craigslist — and acquired over 300 inquiries. Some folks had shut buddies who could not make their marriage ceremony day, others did not want a full-service marriage ceremony planner, however wished some assist planning logistics.
That is how Bridesmaid for Rent was born in 2015. After serving greater than 125 weddings, I have been ready to make use of my model to create three passive revenue streams that generate greater than $5,100 a month.
This is a better take a look at every of the revenue streams:
1. Sharing merchandise I like
Passive revenue earnings: $3,000 a month
I’ve been running a blog about marriage ceremony planning since 2011. I like sharing behind-the-scenes appears to be like at my life and enterprise with my 100,000 social media followers and 40,000 publication subscribers.
Final 12 months, after speaking to some influencer buddies, I began a brand new revenue stream being profitable as a model affiliate by way of platforms like Amazon Affiliate Program and RewardStyle.
The way it works is that I share merchandise — jewellery, attire, footwear, purses, make-up and wonder merchandise — that I’d put on to a marriage on social media, my web site and weekly newsletters. Every time somebody clicks on the hyperlink and makes a purchase order, I earn a share of the gross sales.
I spend about 20 minutes every week looking for merchandise and creating content material round them. I preserve a working record of things I really use and luxuriate in.
3. Creating on-line programs
Passive revenue earnings: $2,000 a month
In 2017, I created my first course to show folks begin a marriage enterprise. Through the pandemic, I launched different programs on private branding, public talking and get unstuck in your profession. Now I supply a complete of 5 on-line programs.
When creating a brand new course, I take into consideration the areas that I’m an knowledgeable in, and I ask my viewers what they’re most eager about. I sometimes do that by sending them surveys and polls, both on social media or by way of my publication.
Placing collectively the framework of the course can take wherever from a number of weeks to some months, relying on how in-depth I’m going. I take advantage of iMovie or CapCut on my cellphone to movie and edit the course movies.
I additionally use an e mail advertising and marketing platform referred to as FloDesk that prices $228 a 12 months, and a internet hosting platform referred to as Thinkific that prices $948 a 12 months.
3. Writing eBooks
Month-to-month passive revenue earnings: $100 a month
I’ve written three books. My first, “All My Mates Are Engaged,” is about what impressed my enterprise. “All the time a Bridesmaid for Rent” is about my expertise rising my firm, and “Lastly the Bride,” is about what I discovered from planning my very own marriage ceremony.
“All My Mates Are Engaged,” was launched by way of a web based writer. I labored with a conventional publishing firm in 2018 for “All the time a Bridesmaid for Rent,” which paid me a flat price to put in writing it, and I do not earn royalties from any gross sales.
With “Lastly the Bride,” I wished to take extra possession of the method. I launched a brand new chapter each month (a conventional writer would not have been in a position to assist that), and I get to maintain 100% of the income.
I take advantage of a free platform like Reedsy to format the e book, and Canva to design the quilt. I set the worth under $10 to ensure it is inexpensive and accessible to everybody.
As my enterprise continues to develop, I am at all times looking for new and modern methods to make extra passive revenue. That approach, I can reduce what number of hours per week I work and maximize how a lot cash I herald each month.
Jen Glantz is the founding father of Bridesmaid for Rent, host of the podcast You are Not Getting Any Youthful, and the creator of The Choose-Me-Up publication. Observe her adventures on Instagram @jenglantz.
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