10 Ways to Make £50 per Day in Ireland
Money is one of those things we often have to spend our entire lives chasing after. We’ll spend years in school so that we can get well-paying jobs, then work hard at those jobs to get promoted, so that we can earn even more money.
Other people will commit crimes, while fully understanding the consequences of their actions, simply because they cannot resist the allure of money.
Money is almost everything in this materialistic world we live in, unfortunately. You need it to eat. You need it to live comfortably. You need it to educate your children.
Some people are fortunate to find it in abundance, while others are forced to settle for left overs.
This article will go over how to earn £50 per day in Ireland by starting a profitable business with little upfront capital.
Your Starting Point
Starting a business in Ireland is no easy task. Just the idea alone can be overwhelming; the thought of writing a business plan, raising capital, doing paperwork, hiring, etc.
One of the easiest places to start a profitable business without worrying so much about the intricacies is the internet.
The internet is the first place that modern consumers go to search for products and services they need. It’s precisely where you need to be if you want to build a business that can provide you passive income, so that you don’t need to worry about working all the time.
Starting an online business enables you to avoid costs such as rent since you can work from your home instead of an office. All you need is a computer and internet connectivity. Even if you don’t have a computer, there are still several ways to earn money from your smartphone.
10 Businesses that can earn you £50 per Day Online in Ireland
1. Affiliate marketing
Affiliate marketing is great for people with large networks and social followings. You’ll simply be paid by a company to promote their product or service to your followers, and you’ll often earn an extra commission whenever your followers make a purchase.
And if you don’t have a large network or social following then all you have to do is add an extra step to your plan by focusing on gaining one of those things before you start affiliate marketing. The payoff will be worth the effort because many companies pay good money for referrals driven by their affiliates.
One tip to really get ahead in this business is to pick services and products that you know are quality ones. The reason behind this is that most money you’ll make from affiliate marketing is through commissions, and your follower base is more likely to buy the thing you’re selling if they know you only suggest quality items.
For example, Hostgator pays $65 any time you refer somebody to their web hosting services. Check out the top 20 high paying affiliate programs in Ireland.
2. Consultation
If you have experience working in a particular field, then you can start offering your services as a consultant. Almost any marketable skill can be turned into a consultation service, whether that’s marketing, finance, HR or public speaking.
The great thing about a consultation business is that you can charge clients however much you feel you’re worth.
But it’s equally as important that your customers know what you’re worth. What this means is that you have some sort of proof to back up the claim that you know what you’re talking about.
Some ideas would be telling your own success story, sharing any certifications you have, or gathering testimonials from your previous clients and displaying them for future customers to see.
3. Sell niche products
Niche products are products that appeal to small groups of people with specific interests. Some examples include VR headsets for gamers, fitness supplements for gym enthusiasts, posture correctors for people with back problems, etc.
Niche products are fantastic to sell online because they generally have very little competition, and their profit margins are great so you don’t really need to sell that many to make £50 per day. You can sell them through your own e-commerce store, on social media, and on online marketplaces.
But one thing to keep in mind is that business probably won’t just roll in, your future customer base has to know that you’re there first. So spend some time coming up with a marketing strategy, and set aside some money in your budget for that purpose.
And make sure that your branding matches your niche, because if your branding doesn’t make sense with what you’re selling then it could confuse potential buyers!
4. Rent out a room in your home on Airbnb
This is the perfect side hustle for people that have spare rooms in their home. Airbnb allows you to lease out rooms in your home as hotel rooms to short term travelers. It’s a great way to make extra money in Ireland while meeting people from all over the world.
There are just a few considerations to think about before you rent out your room. Such as which rooms of the house do you want to block off versus which rooms people will be able to use, are there any “house rules” you need to make clear with any visitors, and will you be serving food for them during their stay?
And one big thing you need to do is make sure that the room is decorated nicely, people will be far more likely to choose your Airbnb over another one if yours looks nicer. So choose a suitable paint color, have nice furniture, etc.
5. Airbnb rental arbitrage
Similar to the previous idea, with rental arbitrage, you first have to rent an entire house, furnish all the rooms and then sublease them on Airbnb. You can either lease out each room individually, or the entire house as a unit.
Airbnb rental arbitrage allows you to easily have multiple rental properties without owning a single one of them. The earning potential is limitless, and this can be a great business to start.
But you need to first talk to the landlord you’re renting from and clear it with them, because they could evict your guests if they find out later. And you also need to get some insurance set up in case any guests happen to damage the property because those are damages that you will have to pay in the long run.
And one downside to this type of Airbnb is that you can’t decorate too much since you’re only renting the space, which means that you’ll have to choose a space that already looks nice or you might have less customers.
6. Create an online course
A lot of people have developed a craving for learning new things due to the ease of finding information on the internet.
If you have any marketable skills (e.g. art, music, cooking, Photoshop, web design, etc.), you can easily convert them into an online business by creating an online course.
The great thing with online courses is that they are pre-recorded, so you won’t have to spend any time actively teaching. You can create your course on platforms like Teachable, and then focus on marketing it through social media.
7. Drop shipping
Drop shipping is a product fulfilment method where sellers don’t keep any stock of the products they are selling online. Whenever somebody places an order, they then order the product and ship it directly to them while keeping the profit margins on top.
And even though it doesn’t sound like it, drop shipping can actually become a somewhat passive income after a little while. When the business gets to a certain point, you can begin to hire employees to do most of the work for you and then you’re left with two options…
Some people would choose to enjoy the fruits of their labor or possibly try another endeavour with their new funds, but some people choose to keep making new drop shipping businesses within different niches and following the same process of starting it, hiring employees, and going hands off.
One method that many drop shippers use is to set up your drop shipping store using Shopify and then source your products inexpensively from AliExpress. This will leave you with quite a bit of profit because AliExpress has great prices.
8. Sell outsourced services online
Outsourcing enables anyone to make money online by providing services that they don’t necessarily have the expertise to fulfil.
For example, you can advertise yourself as a web designer or a writer, whenever somebody pays you for some work, you simply find an inexpensive freelancer to do the actual work on platforms like Fiverr, and keep the profit margins on top.
This work isn’t as involved as other types of businesses, and you can essentially choose to take on as many orders as you want which means that the income possibilities are fairly limitless.
But it can get tricky sometimes if the freelancers you’re hiring don’t come out with quality work or get the orders to you in time to deliver to your clients. To avoid this issue, test out potential freelancers before you put all your faith into them and make sure to have several at your disposal at any given moment.
9. Virtual assistance
The demand for virtual assistants has been through the roof in recent years. A lot of people who work from home are forced to depend on them for administrative tasks since they cannot bring employees home with them.
There’s plenty of work for virtual assistants available on freelancing platforms like Upwork and Fiverr.
The typical virtual assistant would complete tasks such as managing emails, making phone calls, scheduling appointments, or making travel plans. But some virtual assistants can offer additional tasks that are a bit more specific, this might help them land more jobs.
Some examples would be keeping the books, creating graphic designs, writing blog posts, handling marketing, and managing someone’s social media.
10. Become a real estate broker
There are not many fields that have the earning potential of real estate. Most wealthy people in Ireland are in one way or another involved with a real estate business.
You can get started by working as a broker who helps people find properties to either buy or rent. You’ll make money by charging a small fee for showing properties as well as from successful property sales.
In most places, the commission rate for the sale of property is about 3%, so you can calculate how much money you could potentially make by selling just a few properties in a year.
Because of these high commissions, it can be easy to put a lot of money back at once. Especially because if you manage your time well you could be showing several properties per day.
But those high commissions can also mean that the industry is a bit competitive, so you’ll need to be one step ahead of any competition you have.
Be a bit more charming with people, build a bigger reputation, and be professional (have business cards and a brand, etc), or you could also consider marketing yourself through advertisements or social media.
