14 Passive Income Ideas For Engineers [2024]
Interested in earning passive income as a engineer in 2024?
We put together a few of the best passive income ideas you can start as a 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 engineer.
Here's the full list:
1. Make passive income with an ai based business solution ($55.8K/month)
Starting an AI-based business solution could be a practical and forward-thinking way for engineers to supplement their income. By offering AI-driven technologies that streamline business processes, you could help companies improve efficiency, reduce operational costs, and make smarter decisions based on data. This is particularly relevant in areas such as customer service, inventory management, and data analysis, where AI tools can automate repetitive tasks and provide valuable insights.
You don’t need to have a deep background in technology to get started. Many AI platforms are designed with user-friendly interfaces and provide extensive support to help you implement solutions effectively. Given the growing demand for AI technologies, there’s a significant opportunity to develop a business that brings real value to clients by optimizing their operations and giving them a competitive edge in the market.
By focusing on high-impact areas and creating a solid implementation plan, an AI-based business solution could become a successful venture. It's an avenue worth exploring for engineers interested in innovation and looking to boost business performance while earning passive 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.
2. Make passive income with an AI writing tool ($255K/month)
As an engineer, you could leverage your problem-solving and analytical skills to develop an AI writing tool that generates accurate and engaging content with minimal human input. This tool could help businesses, bloggers, and students by providing automated, error-free, and time-efficient writing solutions. Given the increasing demand for constant, quality content, creating an AI writing tool is not just an innovative idea but also a practical response to today's content creation needs.
By venturing into this business, you could ease the workload of writers around the globe and significantly boost their productivity. The blend of cutting-edge technology and writing meets a substantial market need, making it a lucrative passive income opportunity. This endeavor allows you to apply your technical skills in a creative and impactful way while also making a name for yourself in the rapidly digitizing world.
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.
3. Make passive income with a mobile app ($70.3K/month)
Ever thought about turning that brilliant idea into a mobile app? If you're an engineer, you could leverage your technical skills to develop an app that meets various user needs, from productivity tools to gaming. Even if you lack coding experience, hiring a skilled developer to bring your vision to life can be a practical step.
Starting a mobile app requires a clear vision, some planning for user experience, and designing engaging interfaces. Testing for functionality and bugs will ensure a smooth user experience. Effective marketing is crucial for attracting users and driving downloads, which are key to generating revenue.
Mobile apps are a significant part of everyday life, presenting immense opportunities for innovative solutions. Your engineering background provides a solid foundation for understanding complex problems and creating efficient solutions. With dedication and the right strategy, your app could gain significant traction and generate substantial passive income.
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)
As an engineer, you could leverage your technical skills to develop a lead generation tool that helps businesses find potential customers more efficiently. This software can automate the tedious process of identifying and capturing client information, such as email addresses and phone numbers, from various digital channels like websites and social media. By streamlining lead acquisition, you are providing immense value to businesses, allowing them to focus more on converting these leads into sales.
The demand for such tools is high because every company wants to grow its customer base while minimizing marketing expenses. Given your background, you likely have the problem-solving skills and technical know-how to create a sophisticated yet user-friendly tool. This could open up a new revenue stream for you, offering the potential for substantial passive income as businesses pay for subscriptions or usage fees for your tool.
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 wordpress plugin business ($33.4K/month)
As an engineer, starting a WordPress plugin business could be an excellent way to generate passive income by leveraging your problem-solving skills. WordPress plugins are essential tools for running successful websites, addressing various functionalities that site owners need. If you identify a common issue and develop a plugin to solve it, you could sell your plugin and earn revenue.
You could sell your plugins on online platforms like CodeCanyon, through your blog, or on a dedicated website for your plugin. This business takes advantage of your analytical and technical expertise, enabling you to create solutions that others will find valuable. Plus, once the plugin is developed and marketed, it can continue to generate income with minimal ongoing effort.
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.
6. Make passive income with an online course sales business ($85K/month)
As an engineer, you could turn your expertise into a source of passive income by launching an online course. Engineers have a wealth of specialized knowledge that others are willing to pay to learn, such as coding, system design, or even software tools like CAD. By creating a course, you could reach a wide audience eager to gain these skills.
Once your course is developed, you could sell it on popular online learning platforms, which makes it easier to attract students. The e-learning market is booming, with projections estimating it will be worth over $645 billion in the coming years, offering a lucrative opportunity for those with valuable skills to share. This venture allows you to make money while helping others advance in their careers, creating a win-win situation.
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 a niche website ($107K/month)
If you're an engineer looking for ways to supplement your income, starting a niche website can be a rewarding project. You could focus on a topic you're passionate about, such as emerging technologies, sustainable engineering practices, or even a specific software you use regularly. By sharing your specialized knowledge and creating valuable content, you might attract a loyal audience.
Monetization options are varied and include affiliate marketing, ad placements, or selling digital products like e-books or online courses. With consistent effort in content creation and SEO, your niche website could become a reliable source of passive income over time. If you have the drive to dive deep into a specific engineering topic, this venture could offer both creative freedom and potential revenue.
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.
8. Make passive income with a niche blog ($31.5K/month)
As an engineer, starting a niche blog could be an excellent side hustle that allows you to share your expertise and engage with a passionate online community. Given your technical knowledge and problem-solving skills, you could focus on topics like emerging technologies, software development tools, or even detailed DIY engineering projects. By creating unique and informative content such as how-to guides, product reviews, or news commentary, you could quickly develop a loyal following.
To monetize your blog, consider incorporating affiliate links to products you recommend, collaborating with relevant brands, or even growing a YouTube channel to complement your written posts. Speaking at industry events and writing guest articles on other blogs could also help you gain visibility and increase your follower count. With consistent effort and genuine passion for your chosen niche, you could turn your blog into a steady stream of passive income.
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.
9. Make passive income with a YouTube channel ($72.1K/month)
If you enjoy creating engaging video content, starting a YouTube channel could be a great way to diversify your income as an engineer. You could share your expertise by making how-to guides, educational videos, or even vlogs that appeal to others in your field. By monetizing through ads, sponsorships, and merchandise, you might turn your engineering knowledge and passion into a steady stream of passive income.
Building a successful YouTube channel takes time and effort, requiring you to plan, shoot, edit, and regularly post quality content. Understanding video SEO and engaging with your audience are essential to gaining traction. While it demands consistent hard work, the potential financial rewards and the satisfaction of sharing your unique voice make it a promising venture for those willing to commit.
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.
10. Make passive income with an affiliate marketing business ($77.5K/month)
As an engineer, starting an affiliate marketing business could be a smart way to supplement your income and earn extra money without needing to drastically change your current routine. By promoting products and services that align with your professional interests and expertise, you could leverage your technical knowledge to select and vouch for high-quality items. This means you could earn commissions from sales by tapping into your existing network and reputation as an expert in your field.
For example, you could partner with manufacturers or eCommerce stores that offer products relevant to your area of engineering, whether it's software, tools, or educational courses. By sharing honest reviews and valuable insights, you could build trust with your audience, turning your technical expertise into a source of passive income. This way, your engineering skills not only contribute to your primary job but also help you create a steady, additional income stream.
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.
11. Make passive income with an online survey tool ($304K/month)
As an engineer, you could leverage your technical skills to develop an online survey tool that helps businesses gather valuable customer feedback. This field is growing rapidly, with companies increasingly relying on online surveys to collect data efficiently. By creating a tool with features like a survey builder, data collection, and reporting system, you could provide a cost-effective solution for businesses needing detailed customer insights.
Given your background, you could focus on optimizing the user experience and ensuring data accuracy, both critical for making informed business decisions. Additionally, with the success of tools like Typeform, which achieved over $70 million in annual recurring revenue in 2021, the potential for profitability is clear. Building an online survey tool can thus be a practical venture for supplementing your income or even starting a passive income stream.
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.
12. Make passive income with a stock photography business ($14.6K/month)
Starting a stock photography business could be an exciting way for engineers to supplement their income by leveraging their keen eye for detail and technical precision. You could begin by investing in quality photography gear and learning the basics of composition and lighting, which might come naturally to you given your analytical mindset. By capturing high-quality images and uploading them to stock photo websites, you could build an impressive portfolio that generates passive income over time.
Since engineers are often involved in industries that require promotional materials, you could focus on creating photos that cater to specific technical fields, enhancing their appeal to businesses in need of marketing visuals. With a robust online presence, these photos could sell faster and at profitable margins, turning your side interest in photography into a lucrative passive income stream.
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.
13. Make passive income with a stock investing business ($30.3K/month)
If you’re an engineer with an interest in finance and numbers, starting a stock investing business could be a compelling way to supplement your income. A stock investing business revolves around analyzing market trends, making informed decisions, and executing trades to generate profit. This venture enables you to turn your analytical skills into a profitable side hustle, leveraging your knack for solving complex problems.
To get started, educational resources and trading platforms can equip you with the necessary tools and knowledge. Keep in mind that this requires dedication, continuous learning, and a sharp eye on market movements—it's a domain where a consistent, strategic approach pays off. While it's not a get-rich-quick scheme, with careful planning and risk management, stock investing holds significant potential for high returns and a rewarding entrepreneurial journey.
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.
14. Make passive income with a health and wellness app ($108K/month)
As an engineer, starting a health and wellness app could be a natural extension of your problem-solving skills and technical expertise. You could design an app that offers personalized fitness routines, nutrition plans, mental well-being exercises, and progress tracking, all within one easy-to-use platform. By developing this digital tool, you would be enabling users to achieve their health and wellness goals, from reminding them to stay hydrated to guiding them through yoga sessions and meal plans.
This venture would not only allow you to leverage your engineering skills in app development and user-interface design but also to collaborate with health experts to ensure the content is effective and reliable. While it requires some initial work, such as market research and app development, the potential for passive income and positive impact on users' lives makes it a rewarding side project. If you're passionate about both health and technology, creating a health and wellness app could be a fulfilling way to merge these interests while generating extra income.
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.
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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.
