Augusta
VIP Contributor
Hire purchase is giving out what a person has bought before the completion of the payment but the snag here is that if the payment isn't complete as at when due the item becomes the seller own and no longer for the hirer.
A lot of people are making passive income with this style of business transaction. This is how the business style works.
You can buy a machine maybe like a grinding machine that is quite expensive and give it out to a hirer to use while paying you some amount of money weekly. You would give the amount to be paid with your profit inclusive.
This means that you would also make money off it passively since the hirer will be paying you profit and you don't have to do anything else. You can continue the. cycle by putting aside your profit and using your capital from the previous transaction to buy another one for another person and the chain of Passive income continues.
A lot of people are making passive income with this style of business transaction. This is how the business style works.
You can buy a machine maybe like a grinding machine that is quite expensive and give it out to a hirer to use while paying you some amount of money weekly. You would give the amount to be paid with your profit inclusive.
This means that you would also make money off it passively since the hirer will be paying you profit and you don't have to do anything else. You can continue the. cycle by putting aside your profit and using your capital from the previous transaction to buy another one for another person and the chain of Passive income continues.