The sharing economy is booming and access over ownership creates numerous ways for creative entrepreneurs to design their own lifestyles. Is passive income maybe the way for you?
What is passive income?
Income that requires little effort to maintain is passive income. It can be additional income from a rental property, the stock market, or a company that you are not actively involved in.
How does passive income differ from investing?
Passive income is an investment. Typically, investing refers to stocks and real estate though, and in these cases, the difference is that your investment increases your wealth. Wealth, however, does not mean that you add an additional revenue stream, passive income does.
Wealth vs. revenue stream
Wealth is the value of your assets, revenue stream means cash in your account with minimal effort. In other words, we don’t trade time for money.
When we build passive revenue streams it doesn’t mean that we’re actually expecting zero input, rather, we invest our time upfront to promote products that get recurring revenue with minimal recurring efforts.
Passive income examples
There are plenty of different passive income ideas out there, just google it and you'll get millions of hits. Three of the most popular methods of achieving passive income are dropshipping, affiliate marketing, and online courses.
Dropshipping is a business model where you start and operate an online store, but don't manage any inventory on your own. Instead, your e-commerce front communicates directly with the manufacturer or warehouse manager, as you do the sales and they manage the logistics.
Affiliate marketing is a deal where you build a marketing platform, for example, a blog, and then forward online traffic to external websites; earning money from sales or click commissions.
You can earn passive income from online courses, either by charging for online material or through ad sales related to your online courses. At its most basic level, educators use youtube as their platform for online courses, gaining a share of the ad revenue on their videos.
Brick as a passive income opportunity
The barrier to entry is much lower for Brick partnerships than some other dependable passive income opportunities. For example, a Brick partnership minimum investment is €4 000. There's far less money needed to invest, the rewards can come in much faster as well. The drawback, however, is that skillset needed is not for everyone, and the revenue stream is lower in pure numbers.
Getting started with Brick as a passive income
We call this opportunity a “network partnership”. For €3980 you get up to 20 stations that can be placed in venues of your choice. Getting started is easy, as soon as you sign with us there is a time to get live of approximately 90 days, other passive income methods are often based on intangible products, like e-books, or drop shipping. However, when partnering with Brick, you will need to store the stations yourself.
By the time your stations arrive you’re signed up for your dashboard, payment infrastructure is in place, and the app and website have been localized for your market. When you get the stations we simply need to register the stations to your dashboard account and test them.
After this, it’s all about placement, or sales.
Placing of a shared power bank station in venues
If you are in touch with venues already, start here. Venues can literally be anywhere where power bank sharing stations would make sense – bars, malls, restaurants, etc.
We’ve seen everything from hospitals to bars showing major interest, but some venues are better than others, of course. Experience tells us corner shops are eager to try it out, but generate little revenue, so depending on your investment horizon these are not good targets.
Malls, bars, hospitals, and festivals have proven track records in every country where Brick is present (~20 at the time of writing).
The Brick partnership is an opportunity even if you’re not a well-connected bar hopper, but it becomes more of a sales game, for sure. At Brick Sweden, our successful partners all knocked on bar doors and offered them stations. Bar personnel generally love the idea, but it’s a numbers game. You will need to spend most of your time getting the first stations out there – after that referrals and requests will help you scale.
Power bank sharing as Passive income
After your stations have been placed most of the work is done. Sure, there will be some maintenance requests. As with all hardware, there are potential issues that arise. However, the time spent on maintenance is quite minimal, unless you want to. Also, you get the tools you need to maintain it remotely.
In the dashboard, you can follow your rentals, revenue, and uptime to optimize your placement. At times you may have to refill power banks, but the resulting work is normally negligible.
Interested in building passive income or a large-scale business?
The start-up cost of becoming a Brick partner is €4 000. For many, 20 stations and a passive income from their Brick stations is more than enough. To others, it is an opportunity to build a large-scale business without having to add a range of operating costs.
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