14 Passive Income Ideas For Accountants [2024]
Interested in earning passive income as a accountant in 2024?
We put together a few of the best passive income ideas you can start as a accountant today. These will help you increase your quality of life by bringing in more income for yourself or your business.
For each income idea, we’ll show you real-world examples, revenue expectations for each idea, plus some things you might need to know before you start your passive income journey as a accountant.
Here's the full list:
1. Make passive income with an online course sales business ($85K/month)
As an accountant, you could leverage your expertise to create and sell online courses focused on finance, bookkeeping, or tax preparation. This venture allows you to share your knowledge with people who are keen to learn these valuable skills yet might not have the resources or opportunity to attend traditional classes. By creating a comprehensive, easy-to-follow course, you could not only help others better manage their finances but also establish a steady stream of passive income.
The e-learning market is booming, with projections suggesting it will be worth over $645 billion in the coming years. By jumping into this industry, you could reach a global audience and earn money even when you’re not actively working. All you need is a clear target audience, a well-crafted course, and a reliable online learning platform to get started.
How much you can make: $100 — $300,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 180 days (?)
A multipreneur shares how she built a successful print on demand side hustle, generating $120,000 per year through multiple brands spread over various platforms.
2. Make passive income with an online survey tool ($304K/month)
As an accountant, starting an online survey tool could be a practical way to supplement your income and tap into the growing field of data collection. Businesses are constantly seeking feedback to improve their services and develop new products, and your tool could provide a convenient and cost-effective solution for collecting this valuable data. With features like a survey builder, a data collection tool, and a reporting system, an online survey platform would cater to the needs of companies looking to understand their customers better.
Given your background in managing and interpreting financial data, you might already possess the analytical skills needed to understand the needs of businesses and how to deliver insightful feedback. This entrepreneurial venture could leverage your existing expertise, while also allowing you to diversify your income streams. With the rising popularity of online survey tools like Typeform—which saw its annual recurring revenue surpass $70 million in 2021—you could find a lucrative opportunity in this increasingly popular industry.
How much you can make: $40 — $1,600,000/month
How long does it take to build: 180 days (?)
GreenRope, a self-funded CRM and marketing automation platform with over 1,000 customers in 20 countries, was built organically and focused on creating a positive, customer-centric culture without outside investment, with an all-in-one interface solving challenges in managing sales, marketing, customer service, and operations.
3. Make passive income with a real estate investment firm ($398K/month)
Starting a real estate investment firm could be a smart move for accountants looking to supplement their income. In this line of work, you would buy, manage, and sell properties to make a profit. Your skills as an accountant could help you identify lucrative deals and manage the financial aspects of property investment.
Real estate can offer significant returns as property values often increase over time. Rental properties, in particular, could provide you with a steady stream of income. With your ability to manage financial records and analyze market trends, you could turn your real estate investments into a profitable sideline or even a full-time business.
To succeed, you would need to conduct thorough market research, make strategic plans, and handle the operational duties of managing properties. But with dedication and your financial expertise, the potential for impressive financial returns is there. This makes real estate investment a rewarding path for entrepreneurial accountants.
How much you can make: $10,000 — $1,500,000/month
How long does it take to build: 210 days (?)
Equity Residences is a luxury real estate investment fund that has raised $40 million from over 200 investors, offering them access to a portfolio of luxury vacation homes for investment and personal use, with a minimum investment of $161,500 and plans to acquire a further twenty residences ranging from $1.5M to $4M.
4. Make passive income with a niche blog ($31.5K/month)
Starting a niche blog could be a practical side hustle for accountants who want to share their expertise and passion for numbers. For instance, you might choose a niche like personal finance, tax tips, or small business accounting. You could write informative articles, create how-to guides, and provide commentary on current financial news.
To monetize your blog, you could include affiliate links to financial products, grow a YouTube channel where you explain accounting concepts, or collaborate with software companies and brands. Engaging with your audience regularly and providing valuable content will help you build a loyal following. This side hustle not only supplements your income but also allows you to establish yourself as an expert in your field.
How much you can make: $100 — $650,000/month
How much does it cost to start: $650 (?)
How long does it take to build: 60 days (?)
Starter Story grew to 1.4 million monthly visitors and millions in annual revenue by sharing the stories of entrepreneurs. Pat breaks down the early days and how he grew the business into something that changed his life.
5. Make passive income with a YouTube channel ($72.1K/month)
Starting a YouTube channel could be an excellent opportunity for you as an accountant to share your expertise and supplement your income. You could create content that simplifies complex financial concepts, offers tax tips, or provides advice on budgeting and financial planning. This type of informative content can attract a large audience seeking professional advice, potentially leading to revenue through ads, sponsorships, and even merchandise.
Building a successful YouTube channel requires consistent effort and quality content. You would need to plan your videos, shoot and edit them, and engage with your viewers regularly. Understanding video SEO and social media marketing can help drive more traffic to your channel, enhancing your reach and earnings potential.
Although it demands time and dedication, the financial rewards and flexibility to express your unique voice make this venture worthwhile. If you’re entrepreneurial-minded and eager to share your financial wisdom, starting a YouTube channel could be your next successful side hustle.
How much you can make: $2,000 — $333,333/month
How much does it cost to start: $5,250 (?)
How long does it take to build: 30 days (?)
This case study follows the journey of a young entrepreneur from Nigeria who started a profitable blog generating a monthly revenue of $1,500+ through sales of advertising space, sponsored posts, and information products, and shares his strategies for success including a Twitter growth challenge and guest post pitches.
6. Make passive income with a niche website ($107K/month)
As an accountant, starting a niche website could be a great way to supplement your income by sharing your specialized knowledge with a dedicated audience. You could focus on topics like tax tips, small business accounting, or personal finance strategies which many people find confusing and are actively searching for guidance on. By creating compelling and helpful content, such as blog posts, tutorials, or even downloadable resources, you could attract a steady stream of visitors to your site.
Once you have built an audience, you could monetize your niche website through various methods like affiliate marketing, where you recommend helpful products and services, or through ad placements. Additionally, you might offer premium content or courses for a fee, leveraging your expertise to earn money while helping others. Over time, your niche website could become a significant source of passive income, allowing you to earn money even when you're not actively working.
How much you can make: $400 — $250,000/month
How long does it take to build: 60 days (?)
DPW (Digital Procurement World) is a fast-growing conference and community in procurement that has more than tripled in revenue since launching in 2019, capping out the year at €1.8 million, with 95% of their growth coming from inbound traffic leveraging LinkedIn and applying social selling techniques.
7. Make passive income with an affiliate marketing business ($77.5K/month)
As an accountant, you could explore the potential of earning passive income through an affiliate marketing business. This involves promoting products and services from other companies online and earning a commission for each sale you help to generate. For instance, you could partner with financial software companies, book publishers, or online education platforms that align with your expertise and offer products your clients and colleagues would benefit from.
Starting an affiliate marketing business requires some initial effort, such as learning how to find the right products to promote and building an online presence. However, once set up, it could become a steady source of extra money, allowing you to supplement your income without significantly impacting your primary career. This could be an effective and rewarding way to leverage your existing knowledge and network.
How much you can make: $500 — $773,000/month
How much does it cost to start: $700 (?)
How long does it take to build: 60 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
8. Make passive income with a stock investing business ($30.3K/month)
Starting a stock investing business could be a sensible choice for an accountant due to your existing familiarity with financial principles and market trends. Utilizing your skillset, you could analyze and interpret financial data to make well-informed investment decisions. This opportunity could turn your knack for numbers into a profitable venture by buying and selling stocks strategically.
To succeed, you could take advantage of educational resources and trading platforms to hone your investing skills. While it's not a quick path to riches, the potential for high returns exists if you are willing to put in the time to understand market trends and execute trades thoughtfully. By applying your analytical strengths and financial expertise, you could create a steady stream of passive income through a well-managed stock investing business.
How much you can make: $4,000 — $160,000/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 90 days (?)
Ticker Nerd is a monthly subscription service for investors that surfaces and analyzes trending stocks before the hype train arrives, and now has $4.5k in monthly recurring revenue from its newsletter without spending a single dollar on advertising, having validated the business via subreddits and organic Product Hunt launch strategy.
9. Make passive income with a device management business
As an accountant, you could start a device management business to supplement your income by helping organizations manage their digital devices. This includes overseeing, configuring, and securing their gadgets to ensure they function smoothly and are protected from threats. Given your detail-oriented nature and problem-solving skills, you could excel in monitoring devices and addressing potential issues before they escalate.
This kind of business has stable demand, as many companies need reliable device management to maintain their operations. Additionally, you could benefit from a subscription-based revenue model, providing you with a consistent passive income stream. If you enjoy working with technology and are looking for a sustainable side hustle, a device management business could be a worthwhile venture.
10. Make passive income with a social media automation business ($139K/month)
As an accountant, you could consider starting a social media automation business to supplement your income. This business involves creating tools and services that help clients schedule posts, automate interactions, and analyze data across multiple social media platforms. Given the increasing need for strategic and consistent social media engagement, there’s significant demand for these services from small businesses and influencers.
Additionally, your understanding of data and analytical skills as an accountant could provide an edge in tracking social media performance and optimizing campaigns effectively. By developing or integrating software solutions, you could save your clients time and enhance their social media presence, making this a potentially lucrative side business without requiring a huge time investment. For entrepreneurial-minded accountants, this could be an exciting way to diversify income streams while leveraging existing skill sets.
How much you can make: $4,000 — $400,000/month
How long does it take to build: 50 days (?)
MeetEdgar, a bootstrapped social media automation tool founded in 2014 by Laura Roeder, has grown to $4 million in annual recurring revenue and more than 5,000 customers, with a team size of two dozen, achieved through content marketing, social media marketing, and organic search.
11. Make passive income with a health and wellness app ($108K/month)
As an accountant, you could supplement your income by starting a health and wellness app. Imagine creating an app that offers personalized fitness routines, nutrition plans, mental well-being exercises, and progress tracking. It would be like a virtual coach in your pocket, guiding users in achieving their health and wellness goals.
You could leverage your analytical skills to perform market research and understand consumer needs. Collaborating with health experts and developers will help you build a comprehensive and effective app. Although this venture involves various steps, if you are passionate about health and technology, it could be a rewarding way to earn passive income while positively impacting lives.
How much you can make: $600 — $300,000/month
How long does it take to build: 200 days (?)
Founder and CEO of SelfDecode, Joe Cohen, explains how his company helps people discover personalized diet, supplement, and lifestyle recommendations based on DNA and lab tests; generating about $2.7 million in revenue over the past year and raising $8 million in a crowdfunding campaign, SelfDecode provides personalized health recommendations prioritized on unique genetic variants, marking the future of healthcare.
12. Make passive income with a subscription box business ($97.9K/month)
Starting a subscription box business could be a lucrative way for you as an accountant to supplement your income. With your analytical skills and attention to detail, you could identify a niche market that is in high demand and curate products that add value to customers. This side venture would also allow you to leverage your expertise in financial management to ensure profitability and manage expenses effectively.
Additionally, your experience in client relations and understanding of market trends could help you build strong relationships with fulfillment companies and market your service successfully. By providing exclusive, quality products monthly, you could develop a loyal customer base, and with the subscription model, you benefit from a steady and predictable revenue stream. This business model requires an upfront effort, but once established, it could run smoothly with minimal ongoing management.
How much you can make: $400 — $400,000/month
How much does it cost to start: $210 (?)
How long does it take to build: 180 days (?)
Vowed Box Co. is a line of curated, quirky gift boxes with non-traditional brides in mind, offering four different products that have helped the business become profitable most months since its launch in 2018, with a monthly income of roughly $600.
13. Make passive income with an ecommerce reselling business ($83.3K/month)
As an accountant, you could find starting an eCommerce reselling business to be an excellent side hustle to boost your income. This business model allows you to purchase goods or services and sell them online, sidestepping the complexities and costs of creating products yourself. Given your analytical skills and knack for financial planning, you could effectively manage your inventory, finances, and marketing strategies.
You could start small by using social media platforms to list your products and reach potential customers. This approach minimizes your initial investment and lets you test the waters before committing to a full-fledged website. With your background in accounting, you could track your performance efficiently, ensuring your eCommerce business is profitable from the outset.
How much you can make: $4,000 — $150,000/month
How much does it cost to start: $2,999 (?)
How long does it take to build: 75 days (?)
Empyre Off-Road, an e-commerce business founded by Greg Shuey which sells aftermarket parts for Toyota Tacomas, Tundras, and 4Runners, generated approximately $100,000 a month in revenue and was able to expand its product offering, focusing on content marketing, email marketing campaigns, and organic social media to attract and retain customers.
14. Make passive income with an AI writing tool ($255K/month)
As an accountant, you could supplement your income by creating an AI writing tool that generates accurate and engaging content for businesses, bloggers, and students. This tool could help you tap into the growing demand for high-quality content, leveraging your analytical skills and attention to detail in a completely new way. By automating the writing process, you could offer a valuable solution that saves time and reduces errors for others.
This venture could be particularly appealing because it requires minimal ongoing effort once the tool is developed. You would also have the opportunity to explore an innovative field and potentially make a significant impact in the digital world. Imagine creating a tool that transforms the writing process, while also providing you with a steady stream of passive income.
How much you can make: $4,000 — $1,000,000/month
How long does it take to build: 52 days (?)
Rytr, a new AI writing assistant developed by a startup platform and business incubator, has become a market leader, serving over 300,000 customers across the world and doing seven figures in ARR.
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
