Worst Passive Income Ideas You Should Carefully Avoid If You're Not Interested in a Regular Job Anymore!
Passive income businesses refer to a business model that run without or with least supervision. If you have to work hard to maintain the business operation and retain the profit level, you shouldn't even consider that as a passive income generator at all. Here you will find a small but useful list of age-old passive income ideas that work no more in this 21st century and you should avoid them as passive income generators!
#1 Opening a restaurant
Even a few decades back, opening a restaurant was considered as a winning passive income idea. If you would have opened a restaurant business and gained some loyal customers, you could easily develop a brand name in the food and beverage industry. But that doesn't happen anymore; the niche has become extremely competitive. Everyone seems to start a restaurant business these days and with this growing competition, you have to work hard to keep your business on the right track. So it's not a passive income business anymore!
#2 Opening a consultancy firm
Consultancy firms are considered as the business models flourished in the late 20th century. Even in the earlier years in 21st century, many new consultancy firms started their ventures and became successful in their specific fields. This was considered as a lucrative passive income business too; as you just required a good exposure, some successful cases and some loyal clients. However, today, most people are prone to research on things by themselves. At the same time, there are so many firms in every possible niche; for a new business, it'll require a lot of hard work, effort and investment to reach the topmost place today.
#3 Opening a 2-dollar store
This business is considerably referred to a lower-competition market. There are so many stores around and each one of those is making a decent money from the sales. However, the shop owner or the investor needs to supervise the operation closely to retain the profit margin. If you are willing to open a 2 dollar store and considering this to be a passive income opportunity, you should better give it up. It's just more than a 40hour per week management job than a business these days.
Willing to learn some other worse passive income ideas that you must avoid today? Join us at http://www.passiveincomeformula.net/ and get to know the best opportunities today; you don't need to make experiments anymore. Start today and you will soon count money into your account.