Passive Income Ideas For Research Specialists [2024]
Interested in earning passive income as a research specialist in 2024?
We put together a few of the best passive income ideas you can start as a research specialist 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 research specialist.
Here's the full list:
1. Make passive income with a niche blog ($31.5K/month)
As a research specialist, starting a niche blog could be an excellent opportunity to share your expertise and supplement your income. By identifying a specific area of interest—such as advancements in your research field or practical applications of your studies—you could attract readers who share your passion and seek detailed, well-researched content.
You could create unique blogs and articles, such as how-to guides, commentary on recent industry developments, or interviews with experts. By consistently providing high-quality content, you could gain visibility and followers, making it easier to monetize your blog through affiliate links, brand collaborations, and advertisements.
With your analytical skills and attention to detail, you could build a reputable platform that not only generates passive income but also enhances your professional standing by showcasing your expertise.
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.
2. Make passive income with a niche website ($107K/month)
If you’re a research specialist looking for an opportunity to make extra money, starting a niche website could be a great fit. You could leverage your expertise by focusing on a specific topic you are passionate about and knowledgeable in. This allows you to create targeted content that attracts a dedicated audience.
As a researcher, your skill set is ideal for diving deep into niche areas and producing high-quality, informative content. You could monetize your site through affiliate marketing, ad placements, or selling digital products related to your field. With effort in research, content creation, and SEO, a niche website could become a reliable source of passive income over time.
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.
3. Make passive income with an online survey tool ($304K/month)
As a research specialist, you could leverage your expertise in data collection and analysis by starting an online survey tool. This venture could allow you to create a platform that helps businesses conveniently and cost-effectively gather valuable customer feedback. Given the increasing demand for data collection services, your skills would be instrumental in designing a survey tool that offers robust options for survey building, data collection, and reporting.
With companies like Typeform leading the way, the online survey industry is growing, underscoring the potential for recurring revenue. For instance, Typeform's annual recurring revenue surpassed $70 million in 2021, showcasing the profitability of such a business. Using your background in research, you could create a highly accurate and efficient tool that meets the needs of businesses looking to make data-driven decisions.
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.
4. Make passive income with an online course sales business ($85K/month)
Starting an online course sales business could make sense for you as a research specialist in 2024. Your deep knowledge and expertise in specific areas of research not only make you a valuable asset to your employer but also an ideal candidate to educate others. By creating online courses that teach people how to conduct research, write grants, or use statistical software, you have the potential to generate a steady stream of passive income.
To get started, you could identify a target audience, such as students, early-career researchers, or professionals looking to upskill. Next, develop comprehensive but accessible online courses that draw from your own experiences and expertise. With the e-learning market expected to reach over $645 billion in the coming years, your earnings potential is significant as more people turn to online learning for skill development.
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.
5. Make passive income with a social media automation business ($139K/month)
As a research specialist, you could leverage your analytical skills and deep understanding of data to start a social media automation business. This involves creating tools to schedule posts, automate interactions, and analyze data on various platforms, helping clients like small businesses and influencers maintain a strong online presence without the manual effort.
The demand for strategic, consistent social media engagement is growing, providing a solid market for your services. By developing or integrating software solutions and staying updated on social media trends, you could effectively manage multiple accounts and drive engagement. This could be a lucrative and fulfilling side business, especially if you have a knack for technology and marketing.
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.
6. Make passive income with a YouTube channel ($72.1K/month)
As a research specialist, starting a YouTube channel could be a fantastic way to supplement your income and share your wealth of knowledge. Your channel might feature tutorials on research methodologies, offer deep dives into specific topics within your field, or even provide tips on data analysis techniques. With time and dedication, you could monetize your channel through ads, sponsorships, and partnerships.
Creating consistent, high-quality content will be key. You'll need to plan your videos, handle the filming and editing, and actively engage with your viewers to build a loyal audience. Although it requires effort upfront, the potential for financial rewards and professional recognition makes it a compelling venture.
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.
7. Make passive income with an AI writing tool ($255K/month)
As a research specialist, you could leverage your expertise to develop an AI writing tool that helps others produce high-quality content efficiently. Given your strong background in data analysis and critical thinking, you could create a tool that ensures the content generated is not only coherent and engaging but also accurate and well-researched. This could save businesses, bloggers, and students a considerable amount of time, easing their workload.
By innovating in this space, you could generate a steady stream of passive income. Once the tool is developed, it could run with minimal supervision, providing an ongoing revenue source as more users subscribe to use the service. This step could allow you to make a significant impact in the digital content creation world while diversifying your income streams.
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 cold email service business ($170K/month)
Starting a cold email service business could make sense for a research specialist because it leverages your existing skills in data analysis and audience targeting. By applying your expertise in researching target audiences and crafting compelling email campaigns, you could help companies reach new clients directly via email. Familiarity with email marketing tools and tracking metrics like open rates and conversions will be essential, and your ability to analyze client needs will be highly valuable.
As a research specialist, your strategic mindset and knack for engaging through words position you well for this type of business. This venture offers a real possibility for scaling: you could begin by helping small businesses with their lead generation needs and expand your client base as you build a portfolio of success stories. This blend of marketing skills and technical know-how makes a cold email service business a lucrative and sustainable option for someone in your field.
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 lead generation tool ($108K/month)
As a research specialist, you could leverage your analytical skills and market insight to create a lead generation tool that helps businesses identify and capture potential customer leads. This tool could automate the often time-consuming process of finding new clients, allowing companies to focus their efforts on converting those leads into customers.
By integrating your lead generation tool with websites, social media channels, and other digital touchpoints, you could collect valuable data such as email addresses, phone numbers, and interests. Given the high demand for efficient lead generation, businesses of all sizes would likely find your tool invaluable for streamlining their marketing efforts and expanding their customer base.
If you're tech-savvy and interested in marketing, developing a lead generation tool could be a profitable venture. It's not only an opportunity to supplement your income but also allows you to use your existing skills in a new, entrepreneurial context.
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.
10. Make passive income with an affiliate marketing business ($77.5K/month)
As a research specialist, you could start an affiliate marketing business to supplement your income by promoting products and services relevant to your field of expertise. For example, imagine you review and recommend academic software, research tools, or publications that your colleagues and audience might find useful. By partnering with companies that offer these products, you could earn a commission on every sale made through your unique affiliate links.
To get started, identify and partner with reputable brands and eCommerce stores that align with your professional interests. You might find it particularly effective to create content, such as blog posts or video reviews, to share your insights and recommendations. This approach not only leverages your existing knowledge but also helps you build a passive income stream over time by earning commissions on the sales generated through your promotions.
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 ai based business solution ($55.8K/month)
As a research specialist, you could benefit from starting an AI-based business solution to streamline business operations using cutting-edge technology. By leveraging artificial intelligence, you could optimize areas like customer service, inventory management, and data analysis, making operations more efficient and cost-effective. The best part is, you don’t need a tech background—many platforms offer user-friendly interfaces and strong support to get you started.
AI tools can handle repetitive tasks, offer customer insights, and predict market trends with impressive accuracy. This makes them incredibly valuable for making data-driven decisions. As demand for AI solutions grows, focusing on high-impact areas could make your venture both innovative and profitable, providing a competitive edge to businesses in need.
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.
12. Make passive income with a mobile app ($70.3K/month)
As a research specialist, you could turn your expertise into a passive income opportunity by creating a mobile app. Imagine developing an app that aids researchers like yourself, perhaps by streamlining data collection or analyzing complex datasets. Your deep understanding of the research process could give you an edge in identifying the specific features that would be most beneficial to your peers.
Creating a mobile app doesn't have to be overly complicated. With a clear vision and either some basic coding knowledge or the resources to hire a developer, you could bring your idea to life. The key is to design an app that offers practical solutions or serves a specific need within the research community, ensuring it stands out in the app market.
By effectively planning, designing, and testing your app, as well as marketing it to the right audience, you could attract a significant number of users. This venture could not only supplement your income but also provide a valuable tool for other researchers, making your work even more impactful.
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.
13. Make passive income with a stock investing business ($30.3K/month)
As a research specialist, starting a stock investing business could align well with your analytical skills and attention to detail. You could use your ability to analyze data and trends to make informed decisions about buying and selling stocks, aiming to generate profit. This business would require you to keep up with financial markets and continuously learn about new strategies and tools, but the potential returns could make it a worthwhile endeavor.
If you’re intrigued by numbers and finance, this could be an exciting way to turn that interest into a profitable venture. You could leverage educational resources and trading platforms to gain the necessary expertise. While it’s a field that demands dedication and careful risk management, the possibility of long-term growth and high returns makes it a promising side hustle for someone with your research background.
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 stock photography business ($14.6K/month)
As a research specialist, you could leverage your existing observational skills and attention to detail to start a stock photography business. The methodical nature of your work translates well into capturing high-quality, detailed photos that could be highly sought after by businesses for marketing purposes. Observational insights from your research field might even inform unique photo subjects that are in demand, thereby giving you an edge in the stock photography market.
To begin, you could invest in some reliable photography equipment and dedicate some time to learning the basics of stock photography. Once you build a portfolio of high-quality images, you could upload them to stock photo websites, creating a stream of passive income as users purchase exclusive rights to your photos. Establishing an online presence could further help you attract buyers and sell your images faster, ensuring a more steady flow of income alongside your primary job.
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.
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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.
