14 Passive Income Ideas For Electrical Engineers [2024]
Interested in earning passive income as a electrical engineer in 2024?
We put together a few of the best passive income ideas you can start as a electrical engineer 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 electrical engineer.
Here's the full list:
1. Make passive income with an email marketing tool ($249K/month)
As an electrical engineer, you could leverage your technical skills to create an email marketing tool that serves a wide range of clients. Developing such a tool involves understanding automation, data management, and user interface design—areas you are likely already familiar with. This could turn into a passive income stream by offering subscriptions to businesses wanting to manage their email campaigns more effectively.
With email marketing being one of the most effective channels for generating leads and boosting sales, the demand for user-friendly and efficient email tools is on the rise. The global email marketing tool market is projected to reach $2.53 billion by 2028, indicating significant opportunity. By entering this space, you could provide an essential service to small businesses, startups, and real estate agents, helping them reach their customers more efficiently while generating recurring revenue for yourself.
How much you can make: $120 — $2,083,333/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 170 days (?)
H-supertools founder Hasan developed a set of free SEO and digital marketing tools generating $2k per month in profit using Google Adsense, affiliate marketing, selling ad spaces, and email, plans to launch a membership option, and has attained over 80k registered users and 300k monthly visits in less than two years.
2. Make passive income with an ai based business solution ($55.8K/month)
As an electrical engineer, you could use your problem-solving skills and technical knowledge to start an AI-based business solution. AI systems can streamline business operations in numerous ways, including automating repetitive tasks, enhancing decision-making with data analysis, and improving customer service. You don't need to be a software expert; many AI platforms are designed to be user-friendly and come with extensive support.
The demand for AI solutions is growing, so there's a strong market for innovative services. By focusing on areas where AI can have a big impact, such as predicting maintenance needs or optimizing energy consumption, you could create valuable tools for companies. This can help them reduce costs and operate more efficiently, offering a steady stream of passive income for you.
Starting an AI-based business solution could be a strategic way to leverage your engineering background while exploring a new and exciting field. With the right approach, you could turn this venture into a profitable side hustle or even a full-time business. It's a promising path for those looking to innovate and supplement their income.
How much you can make: $4,000 — $120,000/month
How long does it take to build: 125 days (?)
Mikkelsen Twins grew an online education company from scratch with over 800 students, making over 6-figures in profit every month thanks to their successful program, Audiobook Income Academy 2.0.
3. Make passive income with a mobile app ($70.3K/month)
As an electrical engineer, you could leverage your problem-solving skills and technical background to develop a mobile app that caters to specific user needs. Your engineering expertise can help in designing apps that require intricate calculations, simulations, or even troubleshooting guides for electrical systems. This unique perspective can make your app stand out in a crowded market.
Starting a mobile app business doesn't mean you need to be a coding expert. You could work with a developer to bring your idea to life. Focus on planning a user-friendly experience, designing interfaces that are easy to navigate, and thoroughly testing for any functionality issues. With effective marketing, your app could reach a wide audience and generate passive income over time, making it a promising side hustle or supplementary income source.
The possibilities are vast; whether it's an app that helps electrical engineers on the job or something entirely different, the world of mobile apps is full of opportunities waiting to be explored.
How much you can make: $1 — $500,000/month
How long does it take to build: 180 days (?)
BACH, an app that plans and books bachelorette parties, has grown from $0 to >$1M net revenue run rate in less than 6 months, gained over 100,000 users in their first 60 days, and has over 40,000 parties using the app this month.
4. Make passive income with a lead generation tool ($108K/month)
If you're an electrical engineer with an entrepreneurial spirit, developing a lead generation tool could be a profitable side venture. By creating a software application that identifies and captures potential customer leads for businesses, you could help other companies automate the tedious task of finding new clients, letting them concentrate on closing deals instead. This is especially useful for engineers who are tech-savvy and comfortable with software development.
Your tool could integrate with websites, social media channels, and other digital touchpoints to gather valuable data like email addresses, phone numbers, and customer interests. With businesses constantly seeking to streamline their marketing efforts, there’s a high demand for efficient lead generation solutions. This venture utilizes your technical skills while opening doors to a new revenue stream, making it a worthwhile consideration for supplementing your income.
How much you can make: $1,000 — $400,000/month
How much does it cost to start: $600 (?)
How long does it take to build: 90 days (?)
Dux-Soup is a LinkedIn automation tool that helps business owners and sales & marketing professionals generate more leads, increase efficiency, and save time; with over 70,000 users and revenue of nearly $5 million, it offers automated top-of-the-funnel LinkedIn outreach activities, targeted LinkedIn campaigns and multi-touch & personalized LinkedIn drip campaigns for lead generation.
5. Make passive income with a YouTube channel ($72.1K/month)
As an electrical engineer, you could leverage your technical expertise to create a YouTube channel focused on educational content. Imagine producing how-to guides on various electrical projects, tutorials on using industry-specific software, or troubleshooting common electrical issues. This type of content would appeal to both aspiring engineers and DIY enthusiasts, providing valuable information that many people search for.
Moreover, your unique insights could help build a loyal audience, leading to opportunities for ad revenue, sponsorship deals, and even paid memberships. With consistency and quality content, you could transform your engineering know-how into a passive income stream. This venture not only has the potential to supplement your income but also position you as an authority in your field.
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 an online course sales business ($85K/month)
As an electrical engineer, you could tap into your specialized knowledge to create online courses and earn passive income. You might design courses on topics like circuit design, renewable energy systems, or practical applications of electrical theory that cater to students or professionals looking to deepen their understanding or advance their careers.
You could start by identifying a target audience—perhaps college students or entry-level engineers—and then create comprehensive, easy-to-understand lessons. Once your course is ready, you could use an online learning platform to reach a wider audience.
With the e-learning market expected to reach over $645 billion in the near future, there are significant opportunities for you to not only share your expertise but also generate a steady revenue stream. By investing your time in creating a well-crafted course, you could enjoy long-term financial benefits with minimal ongoing effort.
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.
7. Make passive income with an AI writing tool ($255K/month)
As an electrical engineer, you could leverage your technical skills to develop an AI writing tool, an innovative solution that aids in content creation. This tool could automatically generate accurate and engaging text for businesses, bloggers, and students, allowing them to produce high-quality content effortlessly. Given your background, you likely have the problem-solving abilities and technical know-how to build and optimize such a tool.
You could supplement your income by offering subscriptions or licenses for your AI writing tool, letting users access it for a fee. This could turn into a reliable source of passive income, as users continually rely on your creation for their writing needs. With the ever-increasing demand for constant, high-quality content, the potential market for your AI tool is vast and growing, making this a lucrative side hustle.
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.
8. Make passive income with a stock photography business ($14.6K/month)
As an electrical engineer, you could leverage your technical knowledge and keen eye for detail to start a stock photography business. High-quality photos of electrical components, engineering setups, or even conceptual images related to technology and innovation could be in high demand for marketing purposes by businesses and website owners. By capturing unique and professional images, you'll appeal to a niche market that values specialized technical visuals.
You could invest in good photography equipment and learn the basics of taking stock photos, focusing on lighting, composition, and resolution. Once you build a diverse portfolio, you could upload your images to stock photography platforms, creating a new income stream as businesses pay for exclusive usage rights. An excellent online presence could help you sell your stock photos faster and at profitable margins, allowing you to earn passive income while continuing your engineering work.
How much you can make: $1,200 — $45,000/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 60 days (?)
Pro Photo Studio founder Tsour Lee Adato shares how she turned a $5k investment into a business that services over 500 clients annually and makes approximately $350k per year with plans to expand and become a 7-figure business while offering advice to fellow entrepreneurs to always be innovating, learning and growing, and not to undervalue themselves.
9. Make passive income with a niche blog ($31.5K/month)
As an electrical engineer, starting a niche blog could help you share your specialized knowledge with a broader audience. You could focus on specific topics within electrical engineering that you are passionate about, such as sustainable energy technologies, innovative circuit design, or the latest industry standards. By providing how-to guides, top product lists, and in-depth articles, you could build a dedicated following.
Once your blog gains traction, you could monetize it by incorporating affiliate links and collaborating with relevant brands. Additionally, creating related video content for a YouTube channel and speaking at industry events could further increase your visibility and supplement your income. Engaging regularly with your followers and keeping your content informative and unique would be key to your success.
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.
10. Make passive income with an ecommerce reselling business ($83.3K/month)
As an electrical engineer, you could leverage your technical expertise to identify and resell niche electronic components or gadgets through an ecommerce platform. This could mean buying in-demand items, such as specialized circuit boards, smart home devices, or even DIY electronics kits, and selling them at a markup. Your background in the field can help you identify reliable suppliers and high-quality products that would appeal to other engineers or tech enthusiasts.
Starting this type of business does not require significant upfront investment in production, as you'll be focusing on reselling existing products. You could begin simply by using social media channels to reach your target audience and expand to a dedicated website as your business grows. This approach allows you to earn extra income without overshadowing your main career responsibilities.
Additionally, your problem-solving skills could come in handy when navigating the challenges of sourcing and marketing products. Enjoying the benefit of a flexible, scalable side business, you could balance your engineering work while gradually increasing your passive income streams.
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.
11. Make passive income with a wordpress plugin business ($33.4K/month)
As an electrical engineer, you could leverage your problem-solving skills and technical knowledge to create innovative WordPress plugins. With your analytical mindset, you might identify gaps or inefficiencies in existing plugins and develop unique solutions to address them. By focusing on solving specific needs, you could create valuable tools that others are willing to pay for.
Additionally, selling WordPress plugins can be a flexible side hustle that doesn't require constant supervision, fitting well into a busy engineer's schedule. You could use platforms like CodeCanyon or your own blog to market and sell your plugins, generating passive income while you focus on your main career. With the right approach, your technical expertise could turn into a lucrative business opportunity.
How much you can make: $120 — $120,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Wheely Sales CEO Josh created a lucky wheel popup that has grown revenue from $0 to $600/month in just 4 months since getting started and has attracted over 1.1 million users to his customers’ websites, all while proving that when it comes to creating a product, competition is validation.
12. Make passive income with a niche website ($107K/month)
As an electrical engineer, starting a niche website could be a fantastic way to supplement your income while sharing your expertise. You could focus on specific areas you’re passionate about, such as renewable energy, electronics DIY projects, or circuit design tutorials. By creating targeted content, you’ll attract followers who are interested in your specialized knowledge.
Once you build a loyal audience, there are multiple ways to monetize your site. You could earn money through affiliate marketing by recommending products related to your niche, placing ads on your site, or even selling your own digital products like e-books or online courses. Over time, as your traffic grows and your audience becomes more engaged, your niche website could become a steady source of passive income.
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.
13. Make passive income with an affiliate marketing business ($77.5K/month)
As an electrical engineer, you could leverage your technical expertise and industry knowledge to start an affiliate marketing business. By promoting products and services that are relevant to your field, such as specialized tools, software, or educational courses, you could earn commissions from sales generated through your recommendations.
Imagine creating a blog or YouTube channel where you review and discuss these products, providing valuable insights that resonate with fellow engineers. This approach allows you to share your expert opinions while earning passive income, making it an excellent side hustle tailored to your professional background.
Additionally, your credibility as an electrical engineer could help build trust with your audience, increasing the chances of successful affiliate sales. With some initial effort, this could become a steady source of extra income that grows over time.
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.
14. Make passive income with a social media automation business ($148K/month)
As an electrical engineer, you could utilize your technical skills to develop or integrate software tools that automate social media management. Imagine constructing systems to schedule posts, interact with followers, and analyze social media data effortlessly. This allows small businesses and influencers to maintain a consistent online presence without the manual workload.
Given the increasing demand for efficient social media strategies, your expertise in technology could position you well for this side hustle. By combining your engineering background with a bit of marketing savvy, you could offer specialized services that save your clients time while enhancing their social media performance. This could evolve into a steady stream of passive income as you establish your software solutions and build a robust client base.
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.
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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.
