As a teacher, you may have considered finding different ways to earn extra money in addition to teaching. Fortunately, there are ways to do this without making a career switch. Passive income for teachers is one of the most effective and efficient ways to bring in more monthly income. If you are a hardworking, creative person, creating a passive income stream is much easier.
Continue reading this article to learn the easiest passive income strategies for teachers. We cover everything you need to know about how to earn passive teacher income to start your side business.
What is passive income?
Passive income is money that is obtained without investing much time and effort. Passive income streams can be part-time jobs, or they can include selling goods, renting or freelance services. Most of the best passive income ideas can be done online, but there are also ideas that can be done outside of the internet.
Many passive income strategies for teachers allow them to learn new skills, expand their careers, and apply their teaching expertise. Depending on your mastery, different strategies may apply to you, while others may not, but there is always an option that suits your abilities and your needs.
Passive Income Strategies for Teachers: Types of Passive Income
The types of passive income strategies that are right for you vary based on your specialization, equipment, and skills. But as long as you have the necessary minimum requirements, there is a good chance of success. The section below highlights three of the main types of passive income for teachers.
Whether you want to start your own business from scratch or decide to start a dropshipping side business, online businesses are a common strategy for teachers. By going this route, you can sell digital products or services, start a clothing line, or assemble goods from different suppliers. Use your social media to advertise your business and sell your products through ecommerce websites such as Amazon and Shopify.
Communications, English, journalism and history teachers are some of the best candidates for creating a passive income writing business. Create a site where you host your written educational materials, start a blog, do freelance writing projects, or even write an ebook. Your content has a big impact on your audience, so it’s important to choose relevant topics that entice your readers.
As a teacher, you can start a passive income business based on your teaching skills. Tutor students online or in person during your free time, while keeping your schedule flexible. There is also the opportunity to teach clients from other countries, which is a great way to broaden your teaching horizons.
10 Best Passive Income Ideas For Teachers
Educators with a passion for writing can share their knowledge by creating an educational blog. Topics for each blog post will vary based on your specialization, but they should all be well-written, informative, and targeted to your chosen demographic. The money you earn is earned from advertising. Google AdSense pays you per click on ads displayed on your site.
2. Affiliated Partnerships
Affiliate partnerships require you to follow a website or social media. By participating in an affiliate program and having affiliate links displayed on any of the platforms mentioned, you will earn money when commission is earned through your affiliate link. Advertise your affiliate links to earn more money.
Podcasts are a series of audio files available to listeners on the Internet. To start a podcast, select a unique topic that will form the basis of what your podcast is about, and buy the right equipment or software for production. You can discuss topics relevant to your teaching experience to inform listeners.
4. Sell Printables Online
Learning graphic design is beneficial in the age of internet and opens up many profitable avenues. Selling printables can be calendars, planners, stickers or magazines. You create the design using software programs or websites, such as Photoshop or Canva, and post it online for people to buy and print.
5. Create Online Courses
Online courses are available on many platforms and can make you a ton of money. Learn topics and skills that apply both inside and outside the classroom. You can add tutorials, quizzes and assignments or provide career or financial advice. Online courses are typically modular and can be taken at your own pace, so keep that in mind when creating them.
6. Start a YouTube Channel
Teach a wider audience by creating a YouTube channel. This is a way to provide your educational services to viewers for free, but you can still get paid through ad space in your videos. Create video tutorials and provide knowledgeable, helpful advice or techniques for students based on the topics you teach.
7. Selling Ebooks
Educators in a field that requires writing should consider writing and selling ebooks on sites like Kindle Direct Publishing (KDP). Topics you could write about are business, finance, or relationships. You earn money when your book is bought. Statista reports that 191 million ebooks were sold in the US in 2020, demonstrating that it is a popular and profitable business.
Proofreading and editing student essays, term papers, or assignments is a great passive income strategy. ZipRecruiter reports that the average salary of freelance proofreaders is $51,391 per year. Attention to detail when it comes to spelling, grammar and other aspects of writing is essential for proofreaders, meaning the best teachers for this strategy are English-savvy.
9. Online Retail
Starting an online retail business through dropshipping can be very profitable if done correctly. Create a website with the products you offer in collaboration with a supplier and let the dropshipping company handle the shipping process. Statista reported 2.45 billion Amazon visitors per month in 2021, making it a popular and profitable company to enter.
10. Home-Based ESL Education
English as a Second Language (ESL) teachers help students with English as a Second Language through online teaching. Help clients from abroad or students who have just moved to the US to learn English. To be considered for this role, make sure you have certifications such as Teaching English as a Foreign Language (TEFL).
Other ways to earn extra money as a teacher
There are even more passive income ideas for teachers that can help you earn some extra money with ease. Read on to find out which bustle suits your business preferences best.
- Digital Marketing. Using online platforms such as social media or a website, you market advertisements and products digitally. You can attend a boot camp to learn digital marketing to increase your profit margins.
- Virtual assist. As a virtual assistant you provide administrative services to customers. Since clerical work is part of a teacher’s day-to-day duties, this is an easy job. ZipRecruiter reports the median annual salary for part-time virtual assistants as $45,138.
- Sell your learning resources. Online platforms such as Teachers Pay Teachers (TpT) allow you to sell your teaching materials online. This may include lesson plans, creative works, lectures, presentations, and other teaching aids.
- Research online. Online researchers collect information from various sources for an organization or individual. This requires excellent research skills, keyword research knowledge, attention to detail and time management.
- Freelance jobs. Work with a flexible schedule as a freelancer in your specific field. Accept clients based on your availability and work wherever you want on sites like Upwork, Freelancer, and Fiverr.
How to earn passive income for teachers
If you are a teacher looking for ways to cover your daily expenses, there are many passive income sources to consider. Passive income allows you to earn extra income without quitting your teaching job. Use your free time and our passive income business ideas to start earning profitable passive income today.
Frequently asked questions about passive income for teachers
Some of the best part-time digital marketing jobs with competitive salary and benefits include SEO specialist, digital marketing assistant, and digital marketing analyst.
According to ZipRecruiter, the median annual salary of an ESL teacher is $36,796. This is equivalent to $18 an hour. Average salary varies based on location, position and experience.
According to the Bureau of Labor and Statistics, the job outlook for writers and authors is nine percent between 2020 and 2030. More than 15,000 jobs are expected for writers and authors each year.
ZipRecruiter reports that the median salary for online researchers is $41,563 per year. This is equivalent to $20 an hour. The average salary varies based on location and position.
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