As a teacher, you may have considered finding different ways to earn extra money aside from teaching. Luckily, there are ways to do this without making a career change. Passive income for teachers is one of the most effective and efficient ways to bring in more monthly income. If you’re a hardworking, creative person, creating a passive income stream is that 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 make passive income for teachers to get your side hustle business started.
What Is Passive Income?
Passive income is money obtained without investing significant time and effort. Passive income streams can be part-time jobs, or they can include selling goods, rentals, or freelancing services. The majority of the best passive income ideas can be done online, but there are some 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 will not, but there is always an option that will suit your abilities and your needs.
Passive Income Strategies for Teachers: Types of Passive Income
The types of passive income strategies suitable for you will vary based on your specialization, equipment, and skills. However, as long as you have the necessary minimum requirements, there is ample opportunity for 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 begin a dropshipping side hustle, online businesses are a common strategy for teachers. By going this route, you can sell digital products or services, begin a clothing line, or compile goods from different suppliers. Use your social media to advertise your business, and sell your products through ecommerce websites like Amazon and Shopify.
Communications, English, journalism, and history teachers are a few of the best candidates for creating a writing passive income 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 will greatly affect your audience, so choosing relevant topics that entice your readers is important.
As a teacher, you can start a passive income business based on your teaching abilities. Tutor students either online or in-person during your free time while being able to keep your schedule flexible. There is also the opportunity to teach clients from other countries, which is a great way to broaden your teaching horizons.
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10 Best Passive Income Ideas for Teachers
Teachers passionate about writing can share their knowledge by creating an educational blog. Topics for each blog post will vary based on your specialization, but they should each be well-written, informative, and targeted towards your chosen demographic. The money you earn is made through advertisements. Google AdSense will pay you per click on ads displayed on your site.
2. Affiliate Partnerships
Affiliate partnerships require you to either have a website or social media following. By joining an affiliate program and having affiliate links displayed on either of the platforms mentioned, you will earn money when a commission is made through your affiliate link. Advertise your affiliate links to earn more money.
Podcasts are a series of audio files available for listeners on the Internet. To start a podcast, select a unique topic that will be the basis of what your podcast is about, and buy the appropriate equipment or software for production. You can discuss topics relevant to your teaching experience to help educate listeners.
4. Sell Printables Online
Learning graphic design is beneficial in the age of the Internet and opens many profitable avenues. Selling printables can include calendars, planners, stickers, or journals. You create the design using software programs or websites, such as Photoshop or Canva, and post them online for people to purchase and print.
5. Create Online Courses
Online courses are available across many platforms for purchase, and can make you a ton of money. Teach topics and skills that are applicable both inside and outside of the classroom. You can include tutorials, quizzes, and assignments, or provide career or financial advice. Online courses are typically modular and self-paced, so keep that in mind as you create them.
6. Start a YouTube Channel
Teach a larger audience by creating a YouTube channel. This is a way to provide your teaching services for free for viewers but allows you to still get paid through advertising space in your videos. Make video tutorials and provide knowledgeable, helpful advice or techniques for students based on what subjects you teach.
7. Sell Ebooks
Teachers in a field that requires writing should consider writing and selling ebooks on sites like Kindle Direct Publishing (KDP). Subjects that you could write about include business, finances, or relationships. You will earn money whenever your book is purchased. Statista reports that 191 million ebooks sold in the US in 2020, proving that it is a popular and profitable business.
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Proofreading and editing students’ essays, thesis, or assignments is a great passive income strategy. ZipRecruiter reports that the average salary of freelance proofreaders is $51,391 per year. An eye for 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 Business
Starting an online retail business through dropshipping can be very profitable when done correctly. Create a website with the products you offer in collaboration with a supplier, and let the dropshipping company handle the shipment process. Statista reported 2.45 billion Amazon visitors per month in 2021, making it a popular and profitable business to get into.
10. Home-Based ESL Teaching
English as a second language (ESL) teachers help students with English as a second language through online teaching. Help clients from foreign countries, or students who just moved to the US learn English. Ensure you have certifications like Teaching English as a Foreign Language (TEFL) to qualify for this role.
Other Ways to Make Extra Money as a Teacher
There are even more passive income ideas for teachers that will make you some easy extra money. Continue reading to figure out the best side hustle that caters to your business preferences.
- Digital marketing. Using online platforms like social media or a website, you will digitally market advertisements and products. You can attend a bootcamp to learn digital marketing to increase your profit margins.
- Virtual assisting. As a virtual assistant, you will provide administrative services to clients. Since admin work is part of a teacher’s daily tasks, this is an easy gig. ZipRecruiter reports the average annual salary for part-time virtual assistants as $45,138.
- Selling your teaching resources. Online platforms like Teachers Pay Teachers (TpT) let you sell your teaching materials online. These can be lesson plans, creative works, lectures, presentations, and other educational resources.
- Online researching. Online researchers gather information from different resources for an organization or person. This will require excellent research skills, knowledge of keyword research, attention to detail, and time management.
- Freelancing jobs. Work with a flexible schedule as a freelancer in your specific field. Accept clients based on your availability and work from wherever you feel comfortable on sites like Upwork, Freelancer, and Fiverr.
How to Make Passive Income for Teachers
If you are a teacher who is looking for ways to support your daily expenses, there are lots of passive income sources you should take into consideration. Passive income lets you earn extra income without quitting your teaching job. Use your spare time and our passive income business ideas to make a profitable passive income today.
Passive Income for Teachers FAQ
Some of the best digital marketing part-time jobs with a competitive salary and benefits include SEO specialist, digital marketing assistant, and digital marketing analyst.
According to ZipRecruiter, the average annual salary of an ESL teacher is $36,796. This is equivalent to 18 dollars an hour. The average salary ranges 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. There are more than 15,000 job opportunities expected for writers and authors every year.
ZipRecruiter reports that the average salary for online researchers is $41,563 per year. This is equivalent to 20 dollars an hour. The average salary ranges based on location and position.
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