14 Passive Income Ideas for Therapists [2024]
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Passive income is a type of income that requires minimal effort or time to maintain, making it an excellent option for individuals who want to earn money while also having time for other activities. Investing in stocks, bonds, or real estate are popular ways to generate passive income.
Therapists have several options when it comes to creating passive income streams. One option is to create and sell online courses, webinars, or ebooks on topics related to mental health. Creating digital products allows therapists to leverage their expertise and earn passive income.
In this blog post, I will share 14 ideas for how Therapists can make passive income. Stay tuned for tips on how to get started!
1. Write an ebook
Write an ebook about mental health and self-care that you can sell on your website or through an online marketplace. An ebook is a great way to share your expertise and generate passive income, as it can be sold over and over again without additional effort on your part.
An ebook is a digital book that can be read on a computer, tablet, or other electronic devices. Writing an ebook is a great way to communicate your message to the world. You can share your expertise and help people learn while doing something that you love.
Ebooks are a great way to build your personal brand, establish yourself as an expert in your field, and gain a following. It's also a great way to make money! This form of publishing allows you to publish your work for the world to see without having to go through a publisher.
You can make money by selling ebooks on platforms like Amazon and Apple Books.
How much you can make: $4,500 — $600,000/month
How much does it cost to start: $300 (?)
How long does it take to build: 90 days (?)
Praveen Malik shares how he started a $17k per month project management blog business in 2016 with negligible revenue, and grew his gross profit margin to about 80% by selling his own eBooks and marketing third-party training programs through his blog.
2. Create an online course
Develop an online course focused on mental health and wellness that therapists can take to expand their knowledge and skills. This could include topics such as mindfulness, stress management, and coping strategies. Offering an online course is a great way to generate passive income while sharing your expertise and helping others.
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.
3. Start a blog
Start a blog focused on mental health and wellness that provides helpful tips, resources, and guidance for therapists and clients alike. A blog can be a great way to build your reputation as an expert in your field and generate passive income through advertising and affiliate marketing.
In recent years, blogging has become a highly sought-after & lucrative Business. This location-independent business is a creative outlet to reach a broader audience and even work at any time. According to Optinmonster’s list of blogging statistics and facts:
- Blogs have been rated as the 5th most trustworthy source of gathering online information.
- 77% of internet users read blogs.
- Each month, approximately 409 million people view more than 20 billion pages.
Originally blogging started as an online journal, but today it is a highly profitable career option. Many people are choosing blogging as their full-time career and are earning their bread and butter from this profession.
If you want to start blogging as a side hustle or as a full-time profession, choose a niche you will enjoy writing about and have a content strategy ready. Then, create a mailing list, and decide on a good blog posting routine to keep your audience engaged.
How much you can make: $200 — $160,000/month
How much does it cost to start: $500 (?)
How long does it take to build: 37 days (?)
Time commitment per week: Min. 5 hours/week
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.
4. Start a YouTube channel
Create a YouTube channel focused on mental health and wellness that provides helpful tips, resources, and guidance for therapists and clients alike. A YouTube channel can be a great way to reach a wider audience and generate passive income through advertising and affiliate marketing.
How much you can make: $13,000/month
This case study follows the journey of a young entrepreneur from Nigeria who started a profitable blog generating a monthly revenue of $1,500+ through sales of advertising space, sponsored posts, and information products, and shares his strategies for success including a Twitter growth challenge and guest post pitches.
5. Start a podcast
Start a podcast focused on mental health and wellness that provides helpful tips, resources, and guidance for therapists and clients alike. A podcast can be a great way to build your reputation as an expert in your field and generate passive income through advertising and sponsorships.
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.
6. Start a therapy business
Build a therapy business that offers group therapy sessions or online counseling services. This can provide a steady stream of income while allowing you to work with a wider range of clients and expand your expertise.
Therapists are professionals licensed to help patients cope with mental and emotional challenges. A therapist listens to the client's challenges and works with the client in developing a plan to confront the challenges and achieve an improved life.
If you plan to become a therapist, you should consider what type of therapy you wish to provide. Then, earn the necessary certifications and licenses to practice.
How much you can make: $10,000 — $150,000/month
How long does it take to build: 240 days (?)
Professional cuddler, Sam Varnerin, developed her successful one-to-one cuddle service, Snuggle with Sam, as a result of recognising the universal human need for connection and touch, which also led to her opening Sam’s Snuggle School, a course for aspiring professional cuddlers.
7. Become a public speaker
Offer public speaking services focused on mental health and wellness at conferences, workshops, and other events. This can be a great way to generate passive income while sharing your expertise and building your reputation as an expert in your field.
Motivational speakers share powerful messages based on their life experiences. The focus is on helping others gain life's wisdom and become successful.
If you plan to become a motivational public speaker, learn how you can transition your genuine passion to becoming a professional public speaker who inspires others.
Then, start a social media channel and share your videos widely to go viral.
How much you can make: $7,000 — $200,000/month
How much does it cost to start: $3,000 (?)
How long does it take to build: 90 days (?)
Founder Dean Bokhari shares how he launched a membership platform focused on self-improvement, generating over $100,000 per month in revenue, attracting customers via high-quality content, guest blogging and Facebook ads, with plans to grow to $1,000,000 per month over the next 3-5 years.
8. Start a meditation app
Develop a meditation app that provides guided meditations and other tools to promote mental health and wellness. An app can be a great way to generate passive income through subscriptions or in-app purchases.
Meditation apps help users learn and master various meditation skills by offering technology-based tools like mood trackers, guided meditations, meditation timers, and a platform for connecting with other meditators.
To build your meditation app, generate and consolidate ideas before starting the app development journey or hiring an app developer. To ensure unique features, research what your competition offers its users and write out their features.
Finally, build the application and put together the application marketing plan.
Your meditation application should provide users with a wide range of guided meditations for novices and seasoned meditators.
How much you can make: $10,000 — $8,333,333/month
How long does it take to build: 68 days (?)
Tara Menzies created the Christian Hypnobirthing App, which has 5,000 downloads a month and average revenue of US$10K a month, to help expecting mamas feel more relaxed and connected to God throughout pregnancy and birth, and later expanded to include a childbirth education course.
9. Open source library
Create an open source library of mental health resources, such as worksheets, exercises, and guided meditations. This can be a great way to build your reputation as an expert in your field and generate passive income through donations or sponsorships.
Open-source libraries become a widely used method of software development, stories from some of the top names in the field can help you with your development or help build your confidence in adopting this methodology for your own projects.
Open-source libraries have a lot to offer the world of programming. The potential for improvement and simplification of a wide range of computer applications is huge. However, with so many options available, how are developers and architects to see which ones are right for them? Following open-source library success stories that could help you determine your best options.
How much you can make: $3,000 — $13,083,333/month
Time commitment per week: Min. 3 hours/week
Vuetify is a popular open-source user interface library, built with the Vue.js framework, that generates revenue through digital content and services such as paid digital content in the Vuetify store, direct support through consulting, ad revenue from Carbon ads on the documentation pages, and donations/sponsorships via GitHub and Patreon, generating an average income of $6,500 per month.
10. Become a virtual assistant
Offer virtual assistant services to other therapists or mental health professionals. This can provide a steady stream of income while allowing you to work from home and maintain a flexible schedule.
Virtual assistants support businesses, teams, or individuals by performing administrative tasks remotely. As businesses these days tend to outsource their tasks, the demand for virtual assistants is growing rapidly.
Becoming a virtual assistant is flexible, as you can choose a work schedule and location at your convenience. Many virtual assistants have a dedicated home office where they work in a quiet and distraction-free environment.
To become a virtual assistant, identify a niche you like and undertake any training. Then, figure out how much to charge your customers and create an online presence where you can apply for jobs. As a virtual assistant, you can define your work schedule depending on your availability.
How much you can make: $1,000 — $1,000,000/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 60 days (?)
Filipino Virtual Assistance by FVA Business Consultancy, founded by Julmar Grace Locsin, offers online and offline training to empower marketers, enable businesses, and equip freelancers which has trained 25,000 students from their 31 courses, has 16 coaches assigned from different territories, and fifteen in the FVA team for global digital leadership that will impact the world through digitalization, one life at a time.
11. Start an affiliate marketing business
Promote mental health and wellness products on your website, social media channels, or through your email list using affiliate marketing. This can be a great way to generate passive income by earning a commission on sales made through your unique affiliate link.
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.
12. Become a mental health counselor
Offer online counseling services to clients in need of mental health support. With the rise of teletherapy, it's now easier than ever to offer counseling services from the comfort of your own home. By offering online counseling, you can reach a wider audience and generate passive income while helping others improve their mental health.
A mental health counselor assesses and treats mental and emotional health disorders caused by relationship issues or life challenges.
According to World Health Organization, mental health conditions are increasing globally. Mental disorders involve a significant disturbance in thinking, emotional regulation, or behavior.
To become a mental health counselor, learn various psychotherapy skills so you can identify triggers and help patients to cope with negative emotions and reduce symptoms of mental disorder.
How much you can make: $1,100 — $500,000/month
How long does it take to build: 77 days (?)
A licensed mental health counselor increased her income by creating Coping Skills for Kids, which now has a gross revenue of approximately $10,000 per month, from selling products such as the Coping Skills for Kids Workbook and the Coping Cue Cards that help children manage stress, anxiety, and anger.
13. Start a membership site business
Create a membership site for mental health professionals that provides exclusive access to resources such as webinars, Q&A sessions, and downloadable materials. A membership site can generate passive income through monthly or annual subscription fees while providing ongoing value to your members.
A membership site business involves creating a platform where individuals with shared interests or needs can access premium content and engage in a community of like-minded individuals.
As a founder of a membership site business, you are responsible for developing high-quality blogs, videos, discussion forums, and resource libraries exclusive to paying members.
These members subscribe on a monthly or annual basis, providing predictable recurring revenue for your business.
With the ability to target specific demographics and cater to niche audiences, membership sites offer a lucrative business model that is fueled by digital community demand and infinite content possibilities.
This makes it an accessible startup option for creators seeking low-cost entry into the online business world.
How much you can make: $5,000 — $100,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 90 days (?)
How a full-time blogger created a 5-figure online business from a hobby, and now helps people start a side hustle and earn passive income with a signature program that teaches how to start and grow a blog, reach 100K page views and $5,000/month, and live life on their own terms.
Frequently Asked Questions
Can you build passive income as a Therapists?
Yes, it is possible for therapists to build passive income through writing books, creating digital courses or workshops, offering online therapy sessions or consultations, developing therapy-related products, or investing in real estate or stocks. However, creating passive income requires time and effort upfront, and ongoing maintenance and marketing may still be necessary.
How to make passive income as a Therapists?
Therapists can make passive income through various means, such as creating and selling therapy-related books, courses, or products, developing mobile applications or software, offering online consultations or therapy sessions, investing in rental properties or stocks, or developing membership sites. To make passive income, therapists must put in upfront effort, continually market and promote their offerings, and adapt to changing market trends.
Is passive income for a Therapists truly passive?
Although passive income streams may require less day-to-day attention than actively seeing clients, it still requires effort upfront to create and maintain, as well as ongoing marketing and management. Therefore, it may not be completely passive. However, compared to solely relying on trading time for money, passive income can offer more flexibility and financial security for therapists.
Conclusion
Online passive income is an excellent option if you are a Therapists looking for ways to make some extra money. Several options are available, and many of them 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
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- 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
