The sharing economy is booming! The concept of 'access over ownership' creates numerous ways for creative entrepreneurs to design their lifestyles. Is passive income maybe the way for you?
What is passive income?
Income that requires little effort to maintain is passive. 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 a 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
Compared to other passive income opportunities, Brick partnerships have a lower barrier to entry. While the rewards can be realized quickly, it's important to note that the required skill set may not be suitable for everyone, and the revenue stream may be comparatively lower in terms of absolute numbers.
Becoming a Brick Partner offers the opportunity to build a business without additional operating costs. Network Partners start with 20 small power bank stations. While this may be enough for some, most aim for continuous growth, expansion, and larger income! On the other hand, Market Operators dive in with 100 stations to achieve market saturation. They operate a larger network, leading to higher (passive) income.
Regardless of which partnership you choose, our priority is to always get new partners started as quickly as possible. We understand that new business partnerships are exciting, especially with us! We work diligently to ensure the partner can hit the ground running in no time.
Placing of power bank stations in venues
Truth be told, Brick power bank stations can be placed anywhere where it makes sense to have the stations: bars, malls, restaurants, festivals, arenas, etc.
We've had all sorts of venues showing a lot of interest in partnering with us. However, not all venues are equally profitable. For example, corner shops may be curious to try it out, but they typically don't generate much revenue. So, depending on your investment goals, it's best to set your sights on venues that have greater potential for profitability.
Malls, bars, hospitals, and festivals have consistently proven to be successful venues for Brick power bank stations in every market. These high-traffic locations provide great opportunities for generating rental revenue and attracting a large number of users!
Becoming a Brick Partner doesn't require being a well-connected bar hopper, but it does involve a sales-focused approach. In Sweden, we have achieved great results by actively reaching out to bars and offering them Brick stations. While it may involve knocking on doors and putting in the initial effort, once you have a few stations placed, referrals and requests will start to come in, helping you scale your business
After placing the stations
Once your Brick stations are placed, the majority of the work is already taken care of! While there may be occasional maintenance requests and hardware issues, they are minimal and can often be managed remotely. We highly recommend that our partners regularly visit their venues. It allows for better communication, and understanding of their needs, and ensures a positive partnership experience!
With access to the Brick dashboard, you can easily track your rentals, revenue, and uptime to optimize your station placement. Occasionally, you may need to refill power banks, but the associated workload is relatively low.
Become a Brick Partner
Powerbank sharing with Brick holds promising prospects for your success! A Brick representative is ready to connect with you when you are. You can continue reading the essentials of a Brick partnership or get in touch.