Industrial Automation Service Business For Passive Income

basharath · Oct 27, 2020

Dear Guys,

I was thinking is there any possibility of making our automation service business to be passive. such that even if we are not working due to any reason(being sick,old age or just roaming around) the business should run and give us income.

Any ideas and tips to make it in that way ??

Thanks in Advance.

cjd1965 · Oct 27, 2020

expand and have employees...let them make you money but of course you also need to pay them in quiet times. nothing in life is free

I_Automation · Oct 27, 2020

How about replace all the Start push buttons on the machines you build with credit card readers?

Long term income, sit around the house checking the new deposits every few minutes.

You only get paid for what you do, not what you did. No residuals outside of the acting profession.

Unless you don't sell the machines you make and lease them out on a usage based fee.

geniusintraining · Oct 27, 2020

basharath said:
I was thinking is there any possibility of making our automation service business to be passive. such that even if we are not working due to any reason(being sick,old age or just roaming around) the business should run and give us income.

Yes just automate it...

Hietsu · Oct 27, 2020

Set up your email to reply all incoming mail with
"Check grounding and cabling, if this does not solve the problem, check them again."
and attach bill to the email.

drbitboy · Oct 27, 2020

Hietsu said:
Set up your email to reply all incoming mail with
"Check grounding and cabling, if this does not solve the problem, check them again."
and attach bill to the email.

Hey, that's my business, but I only support people trying to wire their car lights to a trailer.

harryting · Oct 27, 2020

I feel like I'm sitting in a Amway presentation.

PLCnovice61 · Oct 27, 2020

l don't think the person that knows the answer to this question, is going to give the answer here, or indeed anywhere else.

Peter Nachtwey · Oct 28, 2020

l don't think the person that knows the answer to this question, is going to give the answer here, or indeed anywhere else.

I know the answer. I/we have done it.

1. Build up an automation company. This takes years.

2. Start a second property company that builds a building that the automation service company rents from you.
As long as the automation company can pay the rent you will get rent money each month from the automation company.

Nova5 · Oct 28, 2020

Service Contracts, but that can go from passive to active at a moments notice when **** goes south otherwise its semi passive as you still have to visit and inspect the systems based on contract agreements.

I_Automation · Oct 28, 2020

Nova5 said:
Service Contracts, but that can go from passive to active at a moments notice when **** goes south otherwise its semi passive as you still have to visit and inspect the systems based on contract agreements.

Service Contract with a local technician on contract to do the physical work. Just charge more for his work.

Industrial Automation Service Business For Passive Income

basharath

Member

cjd1965

Lifetime Supporting Member

I_Automation

Lifetime Supporting Member

geniusintraining

Lifetime Supporting Member + Moderator

Hietsu

Member

drbitboy

Lifetime Supporting Member

harryting

Lifetime Supporting Member

PLCnovice61

Member

Peter Nachtwey

Member

Nova5

Member

I_Automation

Lifetime Supporting Member

Similar Topics