Make 100k per year with the sharing economy model sound challenging. But it is actually easy to achieve. Because its model reduces or eliminates industry barriers. Thus empowering many to transform their livelihoods by accessing markets as suppliers of goods or services. Evidently, many people have been able to build considerable wealth by shifting their mindset.
Takeaways: How to make 100k or more per year
Today it is easier than ever to take home a healthy income. Indeed, the underserved, the underprivileged, the high school drop out, immigrant, the uneducated with a little bit of effort can also achieve the American dream. Nevertheless, to make 100k a year or more you have to combine multiple streams. The shared economy model more than any other model provides that possibility.
- You are the master of your time.
- Enormous flexibility: flexibility is definitely one of the most important aspects of the sharing economy model. Because you can decide when and how to work or not to work at all.
- You are your own boss: Some people are not made to work for others. I have a friend of mine who is extremely allergic to feedback.
- Unlimited revenue cap: accurately, your earnings depend on the hours you put in.
The math: How To Make $ 100k + / Year
We will divide the possibilities into two parts: assets income and labor income. However, this article is focused on asset income with an average monthly income reflecting a conservative approach. The methodology is based on information gathered from official websites, blog posts, surveys, and testimonials.
- Drive a Car:
- Drive for a ride-hailing app full-time (Uber, lyft…): earning $1300/month
- Peer to peer delivery: $1200/month
- Rent your car: while you are busy driving for car-sharing companies, your second car is rented out. indeed your second car/scooter/bike can be rented on platforms such as Turo or any other peer-to-peer car rental platform. You can actually also rent your car on the same ride-sharing app you are using:$1000/month
- Rent your unused space:
- Room on Airbnb: $700/ month
- Basement for storage: $500/month
- Driveway: $100/month
- Free weight pounds in your luggage or car when traveling: $600 /month
- Clothes, books & electronics: rent your top-notch branded used clothes, shoes, books, jewelry, and electronics: $300/month
- Yourself: there are people looking for people to spend time hanging out, go around with them: $300/month
- Money: peer-to-peer lending: join an exclusive peer-to-peer lending program. Let your money work for you. Nonetheless, I will recommend you join programs that provide net-working capital for small business owners: $300/month in interest.
- Physical goods: set up an online store and integrate it with a fulfillment center. Also, streamline the process with your supplier and finally outsource your digital marketing campaign to a marketing agency. If you have the right product: $2000/month
Total estimated income :$8800/month
You can download the checklist below and validate the assessment. The list is not exhaustive and its applications are not limited to the aforementioned.