Passive Income Ideas For Firmware Engineers [2024]
Interested in earning passive income as a firmware engineer in 2024?
We put together a few of the best passive income ideas you can start as a firmware 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 firmware engineer.
Here's the full list:
1. Make passive income with an email marketing tool ($992K/month)
As a firmware engineer, you could leverage your technical skills to develop an email marketing tool that automates the process of creating and sending bulk emails. With the email marketing industry projected to grow significantly, there is a high demand for efficient and user-friendly tools tailored to various business needs.
Creating an email marketing tool could offer you a steady stream of passive income. Once developed, your tool could appeal to a wide range of users, from entrepreneurs to real estate agents. Initially, you might need to invest time in writing code and setting up a domain, but once operational, the tool could generate revenue through subscriptions or usage fees, allowing you to supplement your engineering income while helping businesses improve their marketing efforts.
How much you can make: $120 — $20,833,333/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 180 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 writing tool ($255K/month)
As a firmware engineer, diving into the development of an AI writing tool could be a unique opportunity to leverage your coding skills for passive income. By creating a tool that helps businesses, bloggers, and students generate content quickly and efficiently, you could cater to the growing needs for quality content production without the usual time constraints and errors of traditional writing methods. This could not only supplement your income but also provide an outlet for you to explore innovative applications of artificial intelligence in a practical and in-demand niche.
Imagine the possibilities—once the AI writing tool is developed and marketed, it could continue to generate revenue with minimal ongoing effort, freeing you to focus on your main career or other projects. Your expertise in firmware development can be instrumental in creating a smoothly functioning, user-friendly tool that automates content creation, tapping into a vast and lucrative market.
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 an ai based business solution ($55.8K/month)
As a firmware engineer, you could leverage your technical skills to create an AI-based business solution designed to streamline business operations. This could involve developing AI tools that automate routine tasks, optimizing processes such as customer service, inventory management, or data analysis to make businesses more efficient. Your background in firmware engineering provides a solid foundation for understanding and implementing the necessary algorithms and systems.
An AI-based business solution could offer tremendous value by reducing operational costs and helping companies make data-driven decisions. By automating repetitive tasks and offering predictive insights, your solution could significantly enhance productivity and give companies a competitive edge. Given the growing demand for AI solutions, this could be a lucrative way to supplement your income while making a significant impact in the business world.
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.
4. Make passive income with a mobile app ($70.3K/month)
As a firmware engineer, you could supplement your income by creating a mobile app. With your technical background, you already have a head start in understanding the software and hardware interactions, which is invaluable in mobile app development. While your primary experience may be in low-level programming, branching into mobile app development allows you to leverage your technical skills and creativity to cater to user needs on smartphones and tablets.
Consider the possibilities your expertise opens up. Whether it's a productivity tool that syncs seamlessly with various devices or an innovative game that takes advantage of mobile sensors, your understanding of embedded systems could give you a unique edge. You'll need to plan the user experience and design intuitive interfaces, but these are challenges you can meet by either learning new skills or collaborating with other developers.
Marketing will play a crucial role in your app's success. By effectively promoting your app, you could attract a significant user base and achieve substantial downloads. The mobile app market offers immense opportunities, and with the right idea and execution, you could see impressive returns on your investment.
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.
5. Make passive income with a lead generation tool ($108K/month)
As a firmware engineer, you could create a lead generation tool to help businesses capture potential customer information more efficiently. This venture involves building software that automatically gathers valuable data such as email addresses, phone numbers, and interests from various online sources like websites and social media.
By leveraging your technical skills, you could design a system that integrates seamlessly with existing digital touchpoints, making the often tedious task of finding new leads significantly easier for your clients. There's a high demand for such tools, as companies are always looking for ways to streamline their marketing and expand their customer base. This could be an excellent passive income opportunity, especially if you have an interest in blending tech with marketing.
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.
6. Make passive income with a wordpress plugin business ($33.4K/month)
As a firmware engineer, you already have problem-solving skills and technical expertise that translate well into developing WordPress plugins. If you have identified a common issue or inefficiency that website owners face, you could develop a plugin that offers a unique solution and monetize it. Selling WordPress plugins is a straightforward way to earn passive income, leveraging your existing technical background.
You could list your plugins on popular platforms like CodeCanyon, or even on your own blog or a dedicated website. Since many website owners rely heavily on plugins for functionality, your well-developed plugin could attract consistent sales and provide a steady stream of supplementary income. All you need is a good idea, some development time, and a platform to sell your creation.
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.
7. Make passive income with a social media automation business ($139K/month)
If you're a firmware engineer with an entrepreneurial mindset, starting a social media automation business could be a rewarding side hustle. You could leverage your technical skills to develop tools and services that help businesses and influencers schedule posts, automate interactions, and analyze their data. By offering these automation services, you could save your clients valuable time while boosting their social media presence.
There’s a growing need for consistent and strategic social media engagement, making this a viable market. You'll need to keep up with the latest trends and build strong relationships with your clients to customize your services to their specific needs. With the right approach, you could turn your technical expertise into a profitable venture.
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.
8. Make passive income with a cold email service business ($170K/month)
As a firmware engineer, you could harness your analytical and problem-solving skills to start a cold email service business. This venture involves helping companies reach new clients directly via email by crafting and sending targeted email campaigns. Your technical background can give you an edge in understanding and utilizing various email marketing tools, tracking metrics like open rates and conversions to fine-tune your campaigns for better results.
Moreover, your strategic mindset and detail-oriented nature would be invaluable in researching target audiences and analyzing client needs. Starting with small businesses needing lead generation could quickly build a portfolio of success stories. This, in turn, could attract larger clients, allowing for significant growth and scalability in your new business.
How much you can make: $4,000 — $450,000/month
How much does it cost to start: $200 (?)
How long does it take to build: 35 days (?)
GMass, an email marketing platform that allows users to send cold emails and email marketing campaigns with Gmail, has attracted over 500,000 user signups, including major tech companies like Uber, LinkedIn, and Google, and now generates over $200K in monthly recurring revenue through a successful content marketing strategy and focused ad spend.
9. Make passive income with a niche website ($107K/month)
As a firmware engineer, starting a niche website could be a great way to supplement your income and tap into your specialized knowledge. You might create a site focused on firmware development tutorials, reviews of debugging tools, or case studies of successful firmware projects. By sharing your expertise, you could attract a dedicated audience of like-minded professionals and hobbyists.
Creating relevant content and driving traffic to your site are key steps, but they're within your reach given your technical background. Over time, you could monetize your site through affiliate marketing, ad placements, or even selling your eBooks and courses. This could turn your passion and skills into a reliable 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.
10. Make passive income with a niche blog ($31.5K/month)
Starting a niche blog as a firmware engineer could be a rewarding way to share your specialized knowledge and insights with a community interested in embedded systems and firmware development. You could write about debugging techniques, code optimization, tips on using specialized tools, or reviews of popular development kits. By creating valuable content, you could attract a dedicated audience of fellow engineers and tech enthusiasts who find your expertise helpful.
As your blog gains traffic, you could monetize it in several ways. For instance, you could provide affiliate links to tools and books you recommend, collaborate with tech brands to write sponsored articles, or even grow a YouTube channel offering video tutorials. With consistent effort, your blog could eventually become a significant source of passive income while also helping you establish a name 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.
11. Make passive income with a YouTube channel ($72.1K/month)
Starting a YouTube channel could be a great way for firmware engineers to share their knowledge and skills with a wider audience, all while supplementing their income. You could create videos that demonstrate how to tackle common firmware challenges, review tools and technologies, or even offer coding tutorials. Because YouTube allows you to monetize your content through ads, sponsorships, and merchandise, your channel could become a reliable source of passive income over time.
While creating content will require some initial effort in planning, shooting, and editing videos, your engineering background has likely equipped you with the problem-solving skills needed to overcome these challenges. The key is consistency and engagement with your audience; by regularly posting high-quality content and responding to comments, you could build a loyal following. If you're willing to invest the time and leverage your technical expertise, starting a YouTube channel could be both a rewarding and lucrative 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.
12. Make passive income with an online survey tool ($304K/month)
As a firmware engineer, you could leverage your technical skills to create a robust online survey tool, helping businesses gather valuable customer feedback. This could be an excellent side business, offering a user-friendly survey builder, data collection features, and insightful reporting systems. The increasing demand for data collection tools means there is an expanding market opportunity.
You could draw inspiration from successful platforms like Typeform, which surpassed $70 million in annual recurring revenue in 2021. By developing a similar tool, you could cater to a variety of businesses looking to improve their services or launch new products based on customer insights. This venture could provide a steady passive income while utilizing your engineering expertise to solve real-world problems.
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.
13. Make passive income with an affiliate marketing business ($77.5K/month)
As a firmware engineer, you could supplement your income through affiliate marketing by promoting products and services relevant to your field. Whether it's electronics, development tools, or educational courses, there are plenty of items that align naturally with your expertise. By sharing your experiences and knowledge, you could build trust with your audience, making your recommendations more impactful.
To get started, consider partnering with brands that produce tools or components you regularly use and believe in. By simply integrating affiliate links in your blog posts, social media, or even in a YouTube channel, you could earn commissions from each sale generated through your referrals. This approach not only offers a way to earn extra money but also allows you to share valuable information with your peers.
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.
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.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
