Online courses may be the future of education. The concept of learning a subject from anywhere in the world has become quite popular over the years. In fact, the e-learning market is on track to surpass $300 billion in valuation by 2025.
What are Online Courses?
An online course is an educational class that is conducted on the internet. Online courses are often self-paced, though there are usually weekly or monthly deadlines that students have to meet. An online class features educational videos and images, as well as quizzes and tests that relate to a specific trade, skill, or hobby that a person aspires to learn.
How Do They Work?
To take an online course, a person has to choose their area of study then decide what program is best for them. Once a course has been organized and released for sale by an educator, people can purchase it and begin learning. Several different types of educators create online courses, including professors, life coaches, and even skilled citizens. Many professors at universities offer academic courses in numerous fields that can lead to a formal college degree once completed. Life coaches teach various skills and provide helpful advice relating to careers, relationships, and even mental health.
You don’t have to earn a degree before creating an online course. As long as you have a skill, hobby, or trade that you are experienced in, you can teach others what you know and earn money from it along the way.
Related: 10 Reasons Being An Entrepreneur Is Better Than Employment
What are the Benefits of Selling Online Courses?
Whether you are looking to develop another income source or automate your business, selling online courses comes with many advantages. Among those advantages, you can establish a consistent income on a flexible schedule and have the freedom to express yourself creatively.
Build passive income:
Online courses are a type of digital product that can be distributed virtually. There are no limits to how many times a course can be sold, providing an excellent chance to develop a residual income source. The industry is experiencing steady growth, providing exceptional opportunities for entrepreneurs to start earning a steady income from online course creation. According to Kajabi, “Digital education and e-learning had more than $46 billion in sales in 2018.” There is plenty of opportunity for passive income and more online courses with an expanding industry, regardless of the trade or hobby.
Flexible schedule:
You have the power to choose when to work and for how long. With a flexible schedule and the ability to work from anywhere, you can create online courses as a side gig and eventually turn it into a full-time job if you would like. Maybe you can set some time aside to create a course after work. Even an hour or two a day can make a significant difference in the amount of progress you are making.
No cost to start:
Developing online courses is less expensive than some may think, a lot simpler too. You can use a well-known e-learning platform to create and start selling an online course. Most platforms offer a free trial to help course creators get started. If you would prefer another option for selling your educational program, consider creating a professional website. With either choice, you will have full control over your content, course structure, and prices.
How Much Money Can You Make?
As a side hustle, selling online courses is a profitable hobby. Taking the step to do it as a full-time job can turn that side hustle into a career. The average online course creator rakes in around $66k annually, about $5,500 per month. You may experience a slow start and a few setbacks, but it’s possible to earn $50k or more every month with time and practice. Some factors such as price, audience, and experience will influence the amount of money you will earn. You can adjust your online course price to fit your revenue goals and the budget of potential students. The larger the audience, the more sales you can get; it’s best to market your courses strategically. Don’t forget people take online classes to learn, so display your knowledge in a professional way that’s clear and informative for the best results.
As the e-learning industry continues to develop and gain notoriety, the opportunity to make money while educating others online becomes more prevalent. No matter your passion, there’s probably some way you can create an online course and teach others about it.
