31 Passive Income Ideas for Life Coaches [2024]
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Are you a life coach looking for additional streams of income?
As a life coach, you have a unique skill set that can be easily translated into various digital products, such as ebooks, courses, or webinars, which can generate passive income for years to come.
By creating and selling these products, you can serve a wider audience while freeing up time to focus on one-on-one coaching, marketing, or other aspects of your business.
If so, you're in luck. In this article, we'll explore 31 passive income ideas that are perfect for life coaches in 2023.
1. Create an online course
Creating and selling an online course is a fantastic way for life coaches to share their knowledge and skills, while generating passive income. Life coaches can teach courses on a wide range of topics, such as personal development, business growth, and relationships. Online courses can be created once and sold many times, making them a profitable investment.
An online course business involves creating and selling digital classes teaching specialized skills or knowledge to subscribed students.
As an entrepreneurial course creator, you identify educational gaps around topics you have expertise in and develop engaging video lessons and supplementary materials.
With flexibility around self-paced or cohort-based structures, building a student base provides passive income potential.
For founders who enjoy information-sharing, launching an online course platform presents a lucrative way to monetize your instructional talents with small startup costs by serving eager lifelong learners seeking convenient access to emerging subjects.
How much you can make: $350 — $3,735,000/month
How much does it cost to start: $1,850 (?)
How long does it take to build: 90 days (?)
Learn how one couple created a successful personal finance blog, The Savvy Couple, that now makes over $20,000 per month and has sold thousands of digital workbooks and courses, by focusing on purposeful content and optimizing their ROI with efficient time management.
2. Start a consulting business
Offering consulting services is an excellent way for life coaches to leverage their expertise and earn passive income. Life coaches can provide consulting services on a variety of topics, such as career development, personal growth, and business strategy. Consulting can be done remotely, making it a convenient and scalable business.
Consulting businesses are booming, more so than ever before, and seeing year-over-year growth. With an accumulated value of about $250B, the global consulting industry is one of the biggest markets within the professional services sector.
If you want to start your own consulting business with valuable insights from industry experts, reading about their entrepreneurial journey will help you decide how you should go about it.
How much you can make: $100 — $2,500,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
Cybersecurity consulting firm Eden Data, launched in March 2020, scaled to four team members and generated over $45k MRR without large startup costs through their unique Virtual CISO offering, which outsources cybersecurity and compliance needs for a flat monthly price, rather than charging by the hour or for long-term commitments.
3. Become a business coach
Providing business coaching services is a great way for life coaches to help other entrepreneurs and generate passive income. Life coaches can help entrepreneurs with a range of issues, such as business strategy, marketing, and finance. Coaching can be done remotely, making it a flexible and lucrative business.
Are you thinking of starting a career as a business coach?
Becoming a business coach can be a great way to help aspiring entrepreneurs while earning a healthy income. You may want to consider becoming a coach if you have skills in specialized business fields such as marketing, e-commerce, stress management, or leadership.
Many small-business owners are finding it hard to get started, grow, and succeed. As a business coach, your job will be to help entrepreneurs identify new opportunities and take advantage of the ones they already have.
How much you can make: $3,500 — $9,259,259/month
How much does it cost to start: $2,500 (?)
How long does it take to build: 60 days (?)
Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump.
4. Start a saas company
Creating a software as a service (SaaS) product can be a profitable way for life coaches to generate passive income. Life coaches can create software tools to help others with personal development, productivity, or business growth. SaaS products can be sold on a subscription basis, providing a recurring revenue stream.
SaaS (Software as a Service) is software that allows users to access and use it over the internet. It is a subscription-based service that provides users with access to software that they can use for their business. It offers a variety of features, including a project management tool, an automation engine, and a workflow designer.
To start a SaaS company you should be familiar with the SaaS business model and have a good understanding of how to build and market a SaaS product. You should also have strong technical skills and be able to develop a high-quality software product.
Salesforce is one of the best SaaS companies in the world. Salesforce provides an integrated CRM platform that brings companies and customers together. The company is one of the most innovative cloud software solutions providers on the market, generating nearly all its annual recurring revenue from SaaS tools. According to Salesforce's latest financial reports, the company's current revenue (TTM) is $26.49 B.
Starting a SaaS company is a great way to enter the tech industry. This type of company is growing in popularity as more businesses are looking for ways to save money and reduce their IT costs. SaaS companies typically have high margins and offer a lot of flexibility for entrepreneurs.
How much you can make: $500 — $166,666,666/month
How long does it take to build: 90 days (?)
Time commitment per week: Min. 5 hours/week
AI-powered web application, Excelformulabot.com, generates Excel formulas within seconds for a subscription fee of $6.99/month or free for five formula requests per month, resulting in $14k/month in recurring revenue since its launch in September 2022, accruing millions of visitors through word of mouth, influencer marketing, SEO, and PPC, implemented through no-code web application Bubble.io, while preparing to penetrate a B2B market and focus on B2B outreach in the future.
5. Start an affiliate marketing business
Affiliate marketing is a great way for life coaches to generate passive income by promoting products and services they believe in. Life coaches can join affiliate programs and earn a commission for every sale they refer. Affiliate marketing can be done through a blog, social media, or email marketing.
Are you looking for a side hustle to pay you a passive income? Affiliate marketing is one of those side hustles that will pay you well over the long term. It is a way to earn money online by promoting other companies' products and services. You will be paid a commission for each sale you make as an affiliate marketer.
To get started, learn how to find the right product and brand to partner with. For example, you may prefer becoming an affiliate marketer for an eCommerce store, partnering with a manufacturer, and marketing their products for a commission.
How much you can make: $500 — $773,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 55 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
6. Start an online jewelry store
Starting an online jewelry store is a fun and profitable way for life coaches to generate passive income. Life coaches can sell their own designs or curate a collection of jewelry from other designers. Jewelry is a high-margin product, making it a profitable investment.
The online jewelry store industry has been growing rapidly. More and more people are buying cheaper jewelry online because it is easier and has a much more extensive selection.
The United States jewelry market was valued at about $76B in 2020, and diamond is considered to be the most valuable and lucrative among all forms of jewelry.
If you’re considering starting an online jewelry store to tap into this market, it’s crucial to choose the right e-commerce platform that can support your business needs and enable seamless transactions with your customers.
A great platform can help you showcase your products, manage your inventory, process payments securely, and provide an enjoyable shopping experience to your customers.
How much you can make: $1,000 — $833,333/month
How much does it cost to start: $7,500 (?)
How long does it take to build: 120 days (?)
Taylor & Hart CEO Nikolay Piriankov tells the story of the company's journey from a diamond trading business to an award-winning, disruptive e-tailer of custom-designed, ethical engagement rings and fine jewelry, offering a bespoke design service through specifically developed technology online and instore, and growing to £4-6M in annual revenue.
7. Start a newsletter
Creating a newsletter is a great way for life coaches to generate passive income while building an audience. Life coaches can share their knowledge and insights with subscribers and include affiliate links or sponsored content to monetize their newsletter. Newsletters can be created once and sent out on a recurring basis, making it a scalable business.
Did you know that in the past five years, there has been more than a 50% increase in the number of people who read newsletters?
Newsletters are one of the few things you can use to market yourself as a trusted expert. A well-written newsletter can educate your subscribers and build connections with them.
Email newsletters are a great way to connect with customers and potential customers. It’s a newsletter’s job to inform, persuade, and sell to your audience.
How much you can make: $100 — $3,000,000/month
How much does it cost to start: $400 (?)
How long does it take to build: 22 days (?)
Financial media company MarketBeat, founded by Matt Paulson, provides objective financial information and real-time market data to empower individual stock investors to make better trading decisions, generating approximately $8 million in revenue in 2019 and ending the year with over 1.3 million unique email subscribers due to a freemium model with 75% of revenue from advertising and 25% from subscriptions.
8. Start a podcast
Starting a podcast is a popular way for life coaches to share their expertise and generate passive income through advertising, sponsorships, and affiliate marketing. Life coaches can create a podcast on a variety of topics, such as personal growth, entrepreneurship, or health and wellness. Podcasts can be created once and listened to by an audience for years to come.
The podcast business involves creating and producing audio content that people can listen to online.
It’s a popular form of entertainment and information-sharing.
To start a podcast business on a budget, you'll need a few key steps.
First, choose a niche or topic that you're passionate about and that has an audience.
Next, get basic recording equipment like a microphone and headphones.
Then, find a free or affordable hosting platform to publish your episodes.
Finally, promote your podcast through social media, online communities, and word of mouth to build an audience and potentially attract sponsors or advertisers.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
9. Become an author
Writing a book is a great way for life coaches to share their knowledge and generate passive income through book sales. Life coaches can write a book on a variety of topics, such as personal development, business growth, or relationships. Books can be sold in digital and print formats, providing a passive income stream.
Becoming an author is an exciting journey that involves creating and publishing written works, such as books, novels, or articles that reflect one’s ideas, stories, or expertise.
You can establish yourself through traditional publishing routes or self-publishing, utilizing your literary skills to connect with readers and potentially earn revenue from book sales.
Traditional publishing involves submitting a manuscript to a publishing house or literary agent who will review and decide if it is suitable for publication.
On the other hand, self-publishing gives authors complete control over the publishing process, allowing them to publish their work independently and market it on their own.
You can generate income through book sales, royalties, and opportunities such as speaking engagements or workshops.
How much you can make: $200 — $9,259,259/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 75 days (?)
This case study follows full-time thriller and action-adventure author Nick Thacker who earns between $10k to $20k per month from writing, predominantly through Amazon Kindle Unlimited sales, and goes in-depth into his self-publishing strategy which maximizes sales and minimizes costs, such as developing a mailing list and utilizing print-on-demand services.
10. Start a clothing boutique
Starting a clothing boutique is a fun and profitable way for life coaches to generate passive income. Life coaches can curate a collection of clothing and accessories that align with their brand and target audience. Clothing boutiques can be run entirely online, making it a scalable business.
If you have an eye for fashion trends and retail experience, opening a clothing boutique can be a great opportunity for you to tap into the lucrative fashion retail industry and be your own boss.
To succeed in this venture, you need to identify your target customers, curate your inventory to match their style and leverage social media marketing to build a loyal following and grow your business rapidly.
Focusing on specific customer segments, such as petite, plus-size, budget-conscious customers, or underserved groups instead of competing with major chains can further help you stand out in the market.
Opening a specialized clothing boutique lets you monetize your passion while serving customers that traditional stores often ignore.
How much you can make: $500 — $11,750,000/month
How much does it cost to start: $4,500 (?)
How long does it take to build: 135 days (?)
Boutique Rye is an online-only women's clothing and accessories boutique that has grown to 3,200 Facebook Group members and a successful website through organic customer sharing, live sales, and open communication with customers.
11. Start a social media marketing service
Offering social media marketing services is a great way for life coaches to generate passive income. Life coaches can help businesses grow their social media following and improve their engagement rates. Social media marketing services can be done remotely, making it a flexible and convenient business.
How much you can make: $3,000 — $6,358,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
MeetEdgar, a bootstrapped social media automation tool founded in 2014 by Laura Roeder, has grown to $4 million in annual recurring revenue and more than 5,000 customers, with a team size of two dozen, achieved through content marketing, social media marketing, and organic search.
12. Start an online fitness business
Starting an online fitness business is a great way for life coaches to generate passive income while helping others achieve their health and fitness goals. Life coaches can offer online fitness classes, personalized coaching, and workout plans. Online fitness businesses can be run entirely online, making it a scalable business.
Thinking of starting an online fitness business?
Online fitness is growing rapidly in popularity because it’s convenient, affordable, and accessible to everyone. The best part is that you can stay in your home to start.
Starting an online fitness business can be a great way to make money and help people. When you start an online fitness business, you don’t have to worry about overhead costs like rent or maintaining a physical location - all you need is a computer and an internet connection to get started.
How much you can make: $2,000 — $108,333,333/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
This case study is about a former personal trainer who launched his online personal training platform, TeamFFLEX, starting with no money and a lot of drive, and grew it into a 6-figure business in less than a year, now doing $48,000 a month with potential for continued growth.
13. Start a subscription box business
Starting a subscription box business is a fun and profitable way for life coaches to generate passive income. Life coaches can curate a collection of products that align with their brand and target audience and deliver them on a monthly basis. Subscription box businesses can be run entirely online, making it a scalable business with recurring revenue.
Subscription box businesses offer customers a niche set of products on a monthly basis.
They're in high demand as they add value to customer service, offer exclusive products and can be highly profitable.
To start a subscription box business, understand your niche market, provide quality products, perfect your box design, build a good relationship with fulfillment companies, and market your service.
How much you can make: $400 — $16,666,667/month
How much does it cost to start: $210 (?)
How long does it take to build: 180 days (?)
Vowed Box Co. is a line of curated, quirky gift boxes with non-traditional brides in mind, offering four different products that have helped the business become profitable most months since its launch in 2018, with a monthly income of roughly $600.
14. Start a CBD business
Starting a CBD business is a great way for life coaches to generate passive income while helping others with their health and wellness. Life coaches can create their own CBD products or partner with a reputable supplier. CBD businesses can be run entirely online, making it a flexible and convenient business.
Cannabidiol, abbreviated as CBD, is becoming a household name, and its proponents believe this is for good reasons. Reports indicate that CBD treats several conditions, including chronic pain, inflammation, migraines, epilepsy, autoimmune diseases, and anxiety.
Market trend researchers indicate the CBD market will grow by a CAGR of 21.7 % over the next few years. Rising awareness of cannabidiol’s health benefits and its effectiveness in managing pain are some factors propelling the CBD industry’s growth.
Therefore, starting a CBD business in 2024 could be the best decision you are yet to agree to. Some high-potential CBD business ideas and opportunities include:
- Become a CBD distributor.
- Form CBD cooperatives.
- Run a CBD podcast.
- CBD marketer.
- CBD blogger and reviewer.
- Make and sell CBD bottles and containers.
- Start a CBD subscription box service.
- Start a CBD courier business.
How much you can make: $3,000 — $800,000/month
How long does it take to build: 105 days (?)
Plain Jane, an online CBD company founded by two college roommates, offers unique products and has generated over $20K a month in sales within five months, attracting and retaining customers through social media, authentic stories, and content.
15. Print on demand business
Starting a print on demand business is a low-risk and profitable way for life coaches to generate passive income. Life coaches can create designs and upload them to a print on demand platform, which will print and ship products on behalf of the life coach. Print on demand businesses can be run entirely online, making it a scalable business.
A print-on-demand business involves selling customized products without upfront inventory costs.
The business model utilizes dropshipping production and fulfillment services to print custom apparel, home goods, phone cases, and other merchandise one order at a time.
By leveraging online marketplace platforms like Amazon, eBay, and Etsy as virtual storefronts, print-on-demand sellers can focus on designing trendy and unique products while reaching global audiences.
With minimal startup costs and the freedom to run operations from home, launching a print-on-demand model empowers aspiring founders to monetize their creativity and build ascalable business at their own pace.
How much you can make: $200 — $3,000,000/month
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Founder Roy Kirchner shares how he started an eCommerce business specializing in 3D printing with an initial investment of $65,000, which now averages monthly gross sales of $330,000 and has partnered with international manufacturers and local businesses while offering technical support and education.
16. Start an email marketing business
Offering email marketing services is a great way for life coaches to generate passive income while helping businesses grow their customer base. Life coaches can create email marketing campaigns that align with the client's brand and target audience. Email marketing services can be done remotely, making it a flexible and scalable business.
Email marketing is a popular and effective way for businesses to reach their target audience and promote their products or services.
With the rise of the internet and the increasing use of email as a communication tool, starting an email marketing business can be a lucrative and rewarding venture.
An email marketing business involves creating and sending marketing emails to a list of subscribers. The emails can be newsletters, promotional messages, or other types of content designed to engage and convert the recipient into a customer. The business owner is responsible for building and maintaining the email list, creating the content, and sending the emails using specialized software.
To start an email marketing business, you must have a strong understanding of marketing principles and a good grasp of best practices. This includes creating compelling subject lines, segmenting your email list, and analyzing your campaigns’ results. You will also need to be proficient in email marketing software like Mailchimp or Constant Contact.
To run a successful email marketing business, you must clearly understand your target audience and what they are interested in. This will help you create relevant and engaging content that resonates with your subscribers and encourages them to take action. A solid call to action in your emails is crucial, whether it’s visiting your website, making a purchase, or signing up for a newsletter. Starting an email marketing business requires marketing skills, expertise, and a willingness to learn and improve continuously. The right strategies and tools can be a rewarding and successful way to reach your target audience and grow your business.
How much you can make: $1,500 — $8,333,333/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
Boundless Labs is an email marketing agency for eCommerce brands that has generated over $25 million in email attributable revenue for their clients since launching 18 months ago and currently makes around $90K per month, with plans to reach $100K per month by the end of January 2020 through client referrals, strong relationships, and hard work.
17. Start a content writing company
Starting a content writing company is a great way for life coaches to generate passive income while helping businesses improve their online presence. Life coaches can hire a team of writers to create blog posts, social media content, and email marketing campaigns. Content writing companies can be run entirely online, making it a scalable business.
Content writing involves writing, editing, and publishing content in a digital format. Examples of content include a blog post, product description, and podcast script—eBooks, press releases, or landing page content.
Becoming a content writer allows you to work as your boss. Therefore, you choose whatever working schedule suits you and take a manageable workload. Moreover, content writing helps you develop essential skills you may not obtain from regular writing.
Content writing is a highly-on-demand service, as companies compete for the online audience who often begin their shopping journey by searching for relevant and educative content online. Therefore, a content writing company is an excellent source of passive income.
To start a content writing company, research the market and choose a suitable niche. Sketch a proper business plan and create a website. Hire a pool of talented writers and leverage modern technology to streamline operations.
How much you can make: $1,000 — $250,000/month
How much does it cost to start: $550 (?)
How long does it take to build: 30 days (?)
Scribly.io, a subscription-based copywriting service providing high quality content that helps businesses scale at roughly 50% of the cost of hiring in-house, created by Dani, a first-time entrepreneur who started with just a few hundred dollars worth of projects and with the help of three other writers; as of last month, Scribly.io topped $14K monthly revenue.
18. Start a dropshipping business
Starting a dropshipping business is a low-risk and profitable way for life coaches to generate passive income. Life coaches can partner with a supplier who will handle the inventory and shipping on behalf of the life coach. Dropshipping businesses can be run entirely online, making it a scalable business with minimal overhead.
Dropshipping is a business model where you sell products to customers without holding inventory.
Instead, when a customer makes a purchase, you buy the product from a third-party supplier, who then ships it directly to the customer.
To start a dropshipping business on a budget, choose a niche or category of products you want to sell.
Next, set up an online store using platforms like Shopify or WooCommerce. Then, find reliable suppliers from platforms like AliExpress, list their products on your store, and focus on marketing and customer service to grow your business.
Remember to carefully manage your expenses and monitor your profit margins to ensure profitability.
How much you can make: $6,000 — $3,000,000/month
How much does it cost to start: $6,000 (?)
How long does it take to build: 90 days (?)
Time commitment per week: Min. 10 hours/week
Entrepreneur Kamil Sattar has developed multiple six-figure drop shipping businesses, and his company, e-commerce mentoring, specializes in helping others create their own successful companies, with favorite platforms including using Shopify and apps such as Loox reviews and SMSBump.
19. Start an online advertising agency
Offering online advertising services is a great way for life coaches to generate passive income while helping businesses grow their customer base. Life coaches can create advertising campaigns on platforms like Facebook and Google. Online advertising agencies can be run entirely online, making it a scalable business.
An online advertising agency helps businesses promote their products or services on the internet.
To start this business on a budget, first learn the basics of digital marketing through free online resources.
Create a professional website and set up profiles on social media platforms to showcase your skills.
Build a portfolio by working on mock campaigns or offering discounted services to friends and family, and gradually market your services to attract clients.
With dedication, you can grow your agency over time.
How much you can make: $2,797 — $1,250,000/month
How much does it cost to start: $2,500 (?)
How long does it take to build: 45 days (?)
Iman Gadzhi made over $1.2M in profit within two years with his social media marketing agency and education company, where he teaches entrepreneurs how to start and scale a profitable SMMA, with over 45 of his students making over six figures with their SMMA, and over 300 students having quit their regular jobs.
20. Start a niche blog
Starting a niche blog is a great way for life coaches to generate passive income while sharing their knowledge and expertise. Life coaches can create a blog on a specific topic, such as personal development, entrepreneurship, or health and wellness. Niche blogs can be monetized through advertising, sponsorships, and affiliate marketing.
Starting a niche blog can be a great way to engage with a passionate online community by sharing your expertise on a specific topic.
The first step is to identify a profitable and underserved niche, such as fashion, video games, film reviews, cooking, and more.
Find your niche and create unique and informative content, such as articles, commentary, news, how-to guides, top product lists, convention coverage, video interviews, and spotlights.
To monetize your blog, gain visibility and followers, provide affiliate links, grow a YouTube channel, collaborate with relevant brands, and speak at events.
To succeed in niche blogging, you need to have a passion for your topic, create engaging content, and regularly engage with your followers.
How much you can make: $200 — $100,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 30 days (?)
Starter Story grew to 1.4 million monthly visitors and $500,000 in annual revenue, and offers frameworks for growing your own site.
21. Start an ecommerce retailing business
Starting an ecommerce retailing business is a fun and profitable way for life coaches to generate passive income. Life coaches can sell products that align with their brand and target audience, such as clothing, accessories, or health and wellness products. Ecommerce retailing businesses can be run entirely online, making it a scalable business.
How much you can make: $2,500 — $3,000,000/month
How long does it take to build: 90 days (?)
Tower Electric Bikes is a direct-to-consumer eBike brand co-founded by Stephan Aarstol and Mark Cuban, which has done over $36 million in sales since its $150,000 investment in 2012, and produced and sold everything from paddleboards to electric bikes for half the retail price, with the aim of creating the world's first famous eBike brand.
22. Start a sleep product
Creating a sleep product line is a great way for life coaches to generate passive income while helping others improve their sleep. Life coaches can create products like pillows, sleep masks, and bedding. Sleep product lines can be sold online, providing a passive income stream.
Good sleep is critical for brain performance, enhancing mood and overall body health. Not getting enough sleep raises the risk of diseases and disorders.
Research shows the type and quality of sleep products affect the quality of one's sleep. Thus, experts advise people to get quality sleep products to ensure they are well-rested for the next day.
Researchers project that the global sleep aids market shall witness an annual CAGR of 6.9% and reach $111.9 in the next few years. The benefits of quality sleep products and the rise in disposable income drive demand for global sleep aid. Besides, people are shifting away from sleep aid medication and prefer natural sleep aids.
In short, selling sleep products has become a billion-dollar business.
To start a sleep products business, research the in-demand sleep products—mattresses, bed sheets, smart beds, sleep wearables, etc. Then, decide the target market, and choose a business model. You can become a sleep products manufacturer, distributor, wholesaler, or retailer.
You need to register your business name and register a tax account. Finally, apply for a business license and permits and meet all legal formalities of operating a business in your state.
How much you can make: $9,999 — $3,500,000/month
How long does it take to build: 180 days (?)
Sheets & Giggles, an eco-friendly bedding brand, earned nearly $500,000 and 6,000 orders in the first 6 months of business through Indiegogo, and utilizes pun-based marketing and a DTC model to tap into a fragmented, low brand loyalty market.
23. Start a pet company
Starting a pet company is a fun and profitable way for life coaches to generate passive income while helping pet owners. Life coaches can create products like pet food, toys, and accessories. Pet companies can be run entirely online or through a brick-and-mortar store.
Starting a pet business requires a lot of hard work and dedication, but it's well worth it. Not only will you be able to spend more time with your pets, but you'll also be able to provide them with a better life.
There's no shortage of products or services you can offer when starting a pet business. From food to toys to grooming services—the list goes on and on!
You can offer these services at home or another location that suits you best (such as at an animal shelter). This means that not only will you be able to make money doing something you love while also helping others—but you'll also get the flexibility needed to do it all from wherever works best for both yourself and your customers (who might not always have time or transportation).
If you love animals and want to make a living from your passion, starting a pet business might be the perfect fit for you.
How much you can make: $400 — $1,833,333/month
Furry Fellas Pet Service LLC is a successful pet sitting and dog walking business that brings in over half a million dollars in sales per year, boasts 3,500-4,000 social media followers, employs 42 individuals and has been voted in the top 3 pet sitting/dog walking companies in the RI/MA area for eight years in a row.
24. Start a chrome extension building business
Creating a chrome extension is a unique and profitable way for life coaches to generate passive income. Life coaches can create a chrome extension that aligns with their brand and target audience. Chrome extensions can be sold online or through the chrome web store.
Chrome extensions are helpful tools that add functionality and features to your browser. They are small bits of code that run in the background and perform certain actions.
Chrome extensions are easy to create and low-cost and there are many ways to monetize them.
You'll need some programming skills to create the extension itself, but there are lots of tutorials out there that can help you with this part if you're not already familiar with coding languages like HTML, CSS, or JavaScript.
How much you can make: $10 — $17,366,666/month
How much does it cost to start: $1,500 (?)
How long does it take to build: 45 days (?)
SkyVerge, a software company, has grown rapidly with revenue of $350,000 per month, over 100,000 eCommerce customers, and a globally distributed team of 30 people, all through starting with consulting projects and building focused and solutions-based products, acquiring small products from other developers, and focusing largely on content marketing and providing excellent customer support.
25. Start an email marketing tool
Creating an email marketing tool is a profitable way for life coaches to generate passive income while helping businesses grow their customer base. Life coaches can create an email marketing tool that automates email campaigns and provides analytics. Email marketing tools can be sold online, providing a passive income stream.
An email marketing tool, also known as an 'email tool', is a software application that helps you create, manage and automate email campaigns. Basically, it's a program that allows you to write and send bulk emails.
Email marketing is one of the most effective marketing channels around. It can be used to generate leads, increase sales, create subscribers, improve your SEO rankings and reach more customers than you would with a blog or website.
The email marketing industry is booming. The global email marketing tool market size is expected to reach $2.53B in 2028. Making an email marketing tool business is as easy as buying a domain and hosting account, but that is just the beginning. You will soon start to see the endless possibilities for creating tools that will be used by entrepreneurs, startups, and even real estate agents.
How much you can make: $120 — $2,033,333/month
How much does it cost to start: $800 (?)
How long does it take to build: 170 days (?)
H-supertools founder Hasan developed a set of free SEO and digital marketing tools generating $2k per month in profit using Google Adsense, affiliate marketing, selling ad spaces, and email, plans to launch a membership option, and has attained over 80k registered users and 300k monthly visits in less than two years.
26. Start a productized service
Creating a productized service is a scalable and profitable way for life coaches to generate passive income. Life coaches can create a service that solves a specific problem for their target audience. Productized services can be sold online, providing a passive income stream.
Productized services are created when a larger service is broken down into smaller services that can be sold separately.
This makes it easier to sell the same service to multiple clients and creates an easily-marketable product. For example, a marketing agency that usually charges by the hour, instead, charges a flat monthly fee.
This business strategy works well in B2B markets, as you can sell the same value proposition to multiple clients, and give them a great return on investment.
The reason why you should start a productized service business is simple: making recurring revenue from your expertise can be very useful if you want to build a business based on passive income.
How much you can make: $200 — $1,250,000/month
How much does it cost to start: $1,750 (?)
How long does it take to build: 90 days (?)
EasySongLicensing.com grew from a mobile recording business to a bootstrapped music licensing agent, with a user base of over 60,000 clients and a gross profit of $2.5M in 2018, seeing a 30% increase in 2019, through investment in online marketing, customer service, and forming new partnerships.
27. Start a food startup
Starting a food startup is a fun and profitable way for life coaches to generate passive income while helping others. Life coaches can create a food product that aligns with their brand and target audience, such as healthy snacks or meal prep kits. Food startups can be run entirely online or through a brick-and-mortar store.
Starting a food business can involve opening your own restaurant, bakery, food truck, cake shop, or even starting a business or blog online.
Other kinds of food businesses include manufacturers, wholesalers, and retailers. Food businesses prepare a wide range of foods such as snacks, sweets, and meals to sell directly to consumers and also include cafeterias at workplaces and similar facilities.
If you have a passion for food, starting a food business can be an extremely fun, challenging, and rewarding business venture.
How much you can make: $2,000 — $61,650,000/month
How long does it take to build: 150 days (?)
Trini Pepper Sauce co-founder and co-owner, Mustafa Mannan, shares how he successfully imported and manufactured his family's unique pepper sauce recipe and launched it through a Kickstarter campaign, now selling an average of $3,000/month in revenue.
28. Start a business growth service
Offering business growth services is a great way for life coaches to generate passive income while helping businesses grow. Life coaches can offer services like marketing, SEO, and website development. Business growth services can be done remotely, making it a flexible and scalable business.
How much you can make: $1,000 — $1,600,000/month
How much does it cost to start: $6,512 (?)
GrowthMentor, a platform connecting vetted growth mentors for one-on-one calls, founded by Fotis Panagiotakopoulos, has had over 2,500 mentorship calls booked to date and has seen success in using word of mouth, content marketing, and leveraging other people's networks as the primary drivers of customer acquisition.
29. Start a software development agency
Starting a software development agency is a profitable way for life coaches to generate passive income. Life coaches can create software products that align with their brand and target audience, such as productivity tools or mobile apps. Software development agencies can be run entirely online or through a brick-and-mortar office.
Starting a software development agency is a great way to build a profitable business. Businesses are always on the lookout for ways to save time and money, so it's no surprise that they're increasingly turning to software developers as a way of streamlining their operations.
Software developers are in high demand, and people who can develop custom-built solutions for businesses are able to charge top dollar for their services.
How much you can make: $4,000 — $43,700,000/month
A software agency started by a non-technical founder helps diverse clients with their minimum lovable product, boasting a revenue of over $700,000 this year with a 20% profit margin and a team of 8.
30. Start an online t-shirt business
Starting an online t-shirt business is a fun and profitable way for life coaches to generate passive income. Life coaches can sell t-shirts that align with their brand and target audience. Online t-shirt businesses can be run entirely online, making it a scalable business.
Running a t-shirt business is an opportunity many entrepreneurs are looking into as a side hustle or even a full-time business opportunity. While having your own physical store is possible, online businesses are becoming extremely popular in this field.
Launching your own successful online t-shirt business may feel daunting, but with the guidance & insights from people who are already pioneering this industry, it’s simpler than you may think. You can start with selling customized quotes t-shirts, tie-dye prints/screen printing t-shirts, or solid color t-shirts. The opportunities for this industry are endless.
How much you can make: $1,000 — $83,300,000/month
How much does it cost to start: $425 (?)
How long does it take to build: 7 days (?)
Texas-born apparel brand Tumbleweed TexStyles has grown to serve over 150 retailers throughout the southern United States, selling an estimated 90,000+ products yearly and making an annual $1.2m in sales, thanks to the founders' unique designs, focus on giving back to the education community and successful “guerilla marketing” tactics.
Frequently Asked Questions
Can you build passive income as a life coach?
Life coaches can build passive income through various means, such as writing and selling books, online courses, e-commerce stores, affiliate marketing, podcasts, and software development agencies. Choosing a passive income stream that aligns with the coach’s skills and expertise is essential.
How to make passive income as a life coach?
Life coaches can make passive income through e-commerce, affiliate marketing, online courses, writing and selling books, and starting a podcast. Choosing a passive income stream that aligns with the coach’s skills and expertise is essential.
Is passive income for a life coach truly passive?
While it can be challenging to build truly passive income, creating a passive income stream can still be a smart business move for life coaches. Building passive income requires an initial investment of time and effort, but once established, it can provide steady income without requiring continuous work.
Conclusion
Online passive income is an excellent option if you are a life coach looking for ways to make some extra money. Several options are available; many can be started with little to no investment.
Do your research, find something that interests you, and get started! You may be surprised at how quickly those extra dollars start adding up. What have you got to lose?
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings
