The Most Profitable Recurring Income Business To Start In 2024 – US$9,000+ Consistently

there's absolutely nothing worse than operating a business and having to deal with unpaid invoices and customer excuses especially as a sole proprietor when operating a oneperson business you can barely find time to execute day-to-day operations so following up on customers who owe you money is definitely a no no and this is why rock stars I like residual income because typically it's never late and it's excuse free residual income in the context of this video is recurring earnings generated from past efforts imagine making a steady income from a business model that's 100% about recurring Revenue that's what we're going to focus on today so in this video I will share with you what I have proven to be from my own experiences is one of the best oneperson operated residual income business that you can start now and that has the potential to pay $9,000 per month or more in recurring Revenue what that means rockstars is that money is coming in every month without you ever having to send out an invoice or to follow up with a customer who has defaulted on a payment [Music] now this business model has been around before my grandmother was in diapers so it has been tested and proven it was actually introduced in the 1600s by newspaper and magazine Publishers so this is one business idea rockstars that you cannot say in the comments like some of you typically do that it doesn't work the question is can you get it to work for you big Brands like Netflix Amazon and apple they all use this business model as an example every month I pay Netflix $77.99 in subscription whether I turn my TV on or not I pay $139 every year for Amazon Prime subscription which if you pay on a monthly basis that works out to about $14.99 per month and this is whether I ship a package to benefit from free shipping or stream a movie or a series on Prime video I also pay $649 every month for Apple music whether I listen to a song or anything for that matter or not and I pay $20 to a YouTuber that I have a lot of respect for who has set up a patreon page to support their mission and this is only a few of the many recurring payments that I have every month or every every year and I know you can identify because you also have some as well but wouldn't you like to earn this way where you're making money whether people are remembering to use your service or not or getting an opportunity to use your service or not that said the oneperson subscription business model that I'll show you how to start in this video today is a subscription manage model which is what all these examples that I just shared have in common so let's explore the subscription model business and examples of how you can launch this model and make recurring or residual Revenue because the subscription economy is forecasted to reach a staggering 1.5 trillion not million or billion trillion dollars by 2025 and companies using subscription models they actually retain 85% % of their customers year over-year so let's stop just paying subscriptions to these companies and let's see how we can collect some because of this $1.5 trillion pie all we need is just a few crumbs we don't need the whole slice with our $9,000 goal per month so here is subscription model number one and there is a case study here that I want to share with you from J as Derulo or Derulo however it's pronounced my apologies Jason and he is a singer who is known for songs like talk dirty talk dirty to [Music] me that song was Jason but Jason who was a pop sensation known for good music he actually expanded his business ventures by investing in rocket car wash who would have thought rock stars that a carh wash could operate on a subscription model but it was a brilliant idea and the rocket subscription model for the car wash has been a success now I'm popping up his membership plans here on screen but let me give you a practical example of how this is working let's say Jason got a th000 customers who subscribed to the Express Wash plan which is $19.99 per month that's his cheapest plan the monthly Revenue 1,000 subscribers time 1999 that's $199,990 per month and over a year that's $239,800 per year and this of course is in Revenue before his expenses are taken out now Rockstars it's hard for me to say you can go out there and start a car wash because we know it's a huge investment so I'm going to share with with you how I would downsize this car wash idea and approach it and build a subscription model around it to guarantee money coming in whether my customers are remembering to call me to wash their cars or not now keep in mind I'm not a financial advisor what I'm sharing here it's either what I've experienced or what I've put thought to and in some cases like in this case put it on paper because it's something I've thought about doing so please consult your financial advisor to determine how your money should be spent I'm just sharing ideas here now at our home we use this pressure washer here and we bought it on Amazon for $149 the first thing I'm going to do is I'm going to get a more commercialized version of this pressure washer because it's extremely good the brand that is and I'm going to invest about $264 and it's going going to get me a 3,000 max PSI which can deal with more vehicles and I also am going to buy one that use gas and not electricity and you're going to understand why soon now I would then secure a Toyota voxy or if you live in the US a van that kind of looks like this one and I'm going to buy it it's selling on Jamaica cars for $15,500 I know you can get a used one in the US for significantly less or in Canada the UK If you're watching from India Philippines I see you guys I know you're watching and especially from Africa so wherever you are this model could potentially work but remember to consult your financial advisor first so I'm going to secure this Toyota voxy and then I'm going to rip out all the seats for what I'm about to do now to secure it for that $155,000 or whatever you can buy it for where you live I'm not going to use cash but I'm going to put a deposit down of about $10,000 maybe $5,000 whatever I can afford or I'm going to try to get a commercial loan with a lower deposit that has a 9-year span that will result in me paying $229 per month as a loan amount if you can't get access to a commercial loan and you get a regular loan for about 5 years you'll pay $460 and that's because it's a used vehicle so you wouldn't be able to get more than 5 years with a regular vehicle loan my focus though is going to be to ask my banker for a commercial loan so that my payments are less now as I was saying earlier I would rip the seats out of that van that I procure and I would buy this 400g water tank and I would put it in that van and you can get some or equivalent 400 gallon tanks or bags on Amazon for about $135 as well so that's another investment so now I have a van with a water tank a pressure wash that uses gas it means that I'm operating a mobile car 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