Passive Income Ideas For Firmware Engineers [2024]

Updated: September 19th, 2024

Are you a firmware engineer looking to diversify your income streams and unlock new financial opportunities in 2024?

In a world where financial stability often requires more than just a single paycheck, passive income streams can serve as a safeguard, providing an additional layer of financial security. But where should firmware engineers, with their specialized skills and knowledge, start?

We’ve curated a list of exciting passive income ideas tailored just for you, designed to leverage your existing expertise while freeing up more of your valuable time.

Through each idea, we’ll delve into real-life examples and actionable steps to help you get started on the path to earning passive income. Get ready to transform your financial horizon by making your skills work for you, even when you’re off the clock.

1. Make passive income with a mobile app ($70.3K/month)

Here's the full list:

How much you can make: $1 — $500,000/month

How long does it take to build: 180 days (?)

We Started A $6M/Year Bachelorette Party App

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.

Read by 10,950 founders

2. Make passive income with an ai based business solution ($55.8K/month)

Here's the full list:

How much you can make: $4,000 — $120,000/month

How long does it take to build: 125 days (?)

How We Launched A $120K/Month Audiobook Publishing Course

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.

Read by 21,932 founders

3. Make passive income with an AI writing tool ($255K/month)

Here's the full list:

How much you can make: $4,000 — $1,000,000/month

How long does it take to build: 52 days (?)

I Built A Simple AI Writing Tool That Makes $60K/Year

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.

Read by 6,624 founders

4. Make passive income with a lead generation tool ($108K/month)

Here's the full list:

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 (?)

How I Created A $5M/Year LinkedIn Marketing Automation Tool

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.

Read by 8,882 founders

5. Make passive income with an email marketing tool ($249K/month)

Here's the full list:

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 (?)

I Built A SEO Tool That's Completely Free For Users [From Lebanon]

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.

Read by 14,006 founders

6. Make passive income with a social media automation business ($148K/month)

Here's the full list:

How much you can make: $4,000 — $400,000/month

How long does it take to build: 50 days (?)

How I Bootstrapped A Social Media Automation Tool To $2MM/Year

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.

Read by 15,161 founders

7. Make passive income with a wordpress plugin business ($33.4K/month)

Here's the full list:

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

How I Coded A Website Plugin Making $600 Per Month

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.

Read by 18,934 founders

8. Make passive income with a niche blog ($31.5K/month)

Here's the full list:

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 (?)

How I Turned A Crappy Idea Into A $3M/Year Business

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.

Read by 76,928 founders

9. Make passive income with a YouTube channel ($72.1K/month)

Here's the full list:

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 (?)

How A Young Entrepreneur From Nigeria Started A Profitable Blog

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.

Read by 12,276 founders

10. Make passive income with a niche website ($107K/month)

Here's the full list:

How much you can make: $400 — $250,000/month

How long does it take to build: 60 days (?)

How I Leveraged My LinkedIn Network To Create A $1.8M/Year Procurement Conference

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.

Read by 3,583 founders

11. Make passive income with an affiliate marketing business ($77.5K/month)

Here's the full list:

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 (?)

My Affiliate Marketing Business Earns $500K/Year Profit [No Employees]

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.

Read by 24,529 founders

12. Make passive income with an online survey tool ($304K/month)

Here's the full list:

How much you can make: $40 — $1,600,000/month

How long does it take to build: 180 days (?)

On Starting A $160K/Month CRM & Automations Company After A US Air Force Career

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.

Read by 11,989 founders

meet the author
Pat Walls

I'm Pat Walls and I created Starter Story - a website dedicated to helping people start businesses. We interview entrepreneurs from around the world about how they started and grew their businesses.