6 Passive Income Ideas For Therapists
This post contains affiliate links, which means I’ll receive a commission if you purchase through my links, at no extra cost to you. Please read full disclosure for more information.
Most therapists are in their particular field because they enjoy helping people and are truly passionate about what they do. However, this doesn't mean that their work doesn't get draining sometimes and that their long workweeks don't start taking a toll on their own relationships and their well-being. After all, we're all human and tirelessly working long hours while trying to make progress with clients, connect and emphasize, and remembering to also breathe other people's problems out instead of holding it all in, can eventually burn anyone out. And if you're running a private therapy practice on top of it all, then forget about it; the work-load is simply too overwhelming.
What if there was a way to cut your work hours and make the same amount of money or more? Private therapy sessions aren't the only way to make a difference, and there are a lot of effective strategies that therapists should learn about in order to work smarter instead of harder and finally have some more free time to spend with their loved ones or on themselves. Whatever fulfills their needs.
In this blog post we will discuss various passive income ideas for therapists and I will talk about selling digital products, selling courses on your website, creating corporate retreats and workshops, joining TalkSpace, and some other awesome ideas that will free your time and alleviate your hectic workload.
Etsy - Sell Digital Products
This has been a new endeavor and it has already paid off! This is another way for therapists in private practice to earn a passive income. Sell some of the things you've made for your clients online. It could be worksheets, workbooks, planners, digital art, and more. Etsy is basically a search engine so they do the marketing for you. And you can get started with 40 free listings when you open your shop.
If opening up a digital shop is something you are interested in, but you have no idea where to start, I recommend taking the course Printables By Number. It’s a course walking you through every detail to create and launch small digital products to grow your email list and income.
Create A Course
This is an excellent way to save yourself some time and energy in the long run while helping a ton of people and putting your expertise to work.
Course by Number is an online course builder that allows you to create and sell professional courses from your website. It's a great resource for private practitioners who want to create passive income streams. Suzi literally walks you through every step from start to finish of your course. No spending time on research is necessary as Suzi has it all covered in her course. She also offers a great Craft Your Offer Freebie to help you get started.
Corporate Retreats and Workshops
These corporate retreats and workshops can be fulfilling and profitable. A lot of corporations are looking for therapists that can discuss various topics like - avoiding burnout, learning to trust your coworkers, and using communication to create better and stronger relationships. Corporate and wellness retreats are very popular and corporations like Nike, Lululemon, JPMorgan, and many others have used them, so the demand is definitely there. You can put these events together and charge a going market rate for them.
TalkSpace
Although this one isn’t exactly passive, it’s a way to add extra income somewhat on your timetable. They offer comprehensive online mental health treatments for individuals, couples, and teens. And you can apply to use their app if you're a licensed therapist. TalkSpace allows you to offer your services through their website or mobile app via Android or iOS. And you can talk to your clients by leaving voice memos, messaging them, or via video chats. According to therapists that have been previously employed by TalkSpace, therapists can make anywhere from $21/hr-$28/hr. It depends and some make more, while others earn less.
If you're interested in learning about the pros and cons of working for TalkSpace, then check out this podcast - Say More About That.
Start a Youtube Channel or a Podcast
Starting a Youtube Channel or a Podcast can be very profitable and you'll make money whenever advertisers advertise on your channel. So the greater your audience, the more passive income you will earn. And in order to build a significant following, you'll need to pick a particular niche market and focus on that. But also consider your own expertise. You will sound a lot more natural and attract a greater following as a result, if what you're talking about feels comfortable to you.
Remember to connect with your audience and tell them to ask you questions that they want answered. You can also do live-sessions and answer your audience's questions that way, too. This will help build your brand, your relationship and your trust, with your audience. And they will be more than likely to recommend your channel and keep coming back for more.
Create an Application
Have a ton of ideas? Amazing! Write them all down and ask yourself how this particular idea will help solve someone else's problem. It's always important to consider that people are usually looking for products/services that will solve/lessen their problems. And if you think your idea can do this, then get going and create an app for it. It's easier than you think to get started and there are a ton of freelance developers that can work with your budget and help you bring your vision to life. Use fiverr.com to find the perfect developer for you. Be careful, though, and always look through reviews and ask a lot of questions before paying. Be sure to assess your developers portfolio and remember that we usually get what we pay for so if something is too good to be true, then its quality is probably going to be lacking.
Conclusion
There are a ton of opportunities to look into or to create from scratch if you’re looking to make some passive income.
Creating online classes that will boost your revenue.
Using Etsy to sell your digital products.
You can also start wellness and corporate retreats and workshops that not only help others but will ease your life and destress your existing workload in the long run.
Other effective ideas to try are applying to TalkSpace and using your free time to text or chat with your clients over the phone.
And finally, you can start a podcast or your own channel on YT or create an application that will help other people address their problems.
Some Other Helpful Passive Income Ideas -
Create websites for therapists using Squarespace or Wordpress.
Sell e-books.
Create a blog and partner with affiliate partners.
More Private Practice Resources
I put together a list of all the best tools, websites and products I’ve used to build my mental health private practice. And I update it regularly! You can see the full list here.