Wouldn’t it be nice to only work 4 hours a week and still make a full-time income?
While for the majority of people, that kind of arrangement is just not reality, passive income isn’t impossible.
It does take work initially, but “making money while you sleep” is definitely possible, and it's a great way to add a side income to your health and wellness business, all while helping more clients and building authority in your niche.
Using your expertise in your area, you can create products once and then sell them over and over again—creating an extra income for you and helping your clients at the same time.
Once you create enough materials, you could certainly transition to having your passive income become your main source of income. You can automate processes and outsource some (or all!) of the work to cut down on your hours. And then, maybe the 4-hour-workweek won't be such a far-fetched dream after all.
But What exactly is passive income?
Passive income is income that you earn without being directly involved in a time for money exchange. There are several ways to earn it, from creating products to sell over and over, to outsourcing whole businesses, to investments, and more.
Some ways require more involvement, while others can require very little of it, especially if you’re willing to outsource most of the work. The investment required for outsourcing is well worth it if you value your time. Stop exchanging hours for money and start working on automating your business for passive income.
As an entrepreneur, you probably already know that charging by the hour is probably not the best arrangement. After all, most of us became business owners so we could be the bosses of our own time. Passive income is one more way to take charge of that time and earn money for your knowledge and experience.
Initially, passive income requires work, but once that work is done, you can earn from the products you sell (or refer) over and over with little involvement, if you so wish.
Types of passive income
There are many ways to earn passive income. Here are just a few:
Monetizing your Blog
Monetizing your YouTube channel
Real Estate Investments (with property management outsourcing)
But if you want to add passive income to your health and wellness business without veering too far off your profession, there are some passive income ideas that work better than others.
One of the best ways to earn passive income while helping your clients and building authority in your field is to create information products.
Passive income ideas for health and wellness professionals
Passive income works differently for different industries. As a health and wellness professional, you should always consider your audience when deciding which income stream to pursue.
Here are some ideas for passive income specific to the health and wellness industry:
Passive income from eBooks
Passive income from eBooks: Nutrition Experts
If you’re a nutritionist, writing a short eBook of your favourite healthy recipes would be a great way to add passive income to your earnings. You could even turn these books into a series and have several books available for purchasing. Here are just a few ideas:
The Busy Series:
Create a collection of recipes and tips to help busy people still eat a healthy diet. In this series, you could have titles such as:
Quick healthy recipes for busy profesionals
Quick dinners for the health-conscious
Healthy Snacks for busy times
Make-ahead meals for the time-rushed
Be greeted with dinner: slow cooker meals
Consider your target market and choose your titles accordingly. The more you speak to clients' pain points, the larger the chance your eBook sales will be successful. Here's another idea for a recipe eBook series:
The Parenting Series:
Create a collection of recipes to help parents feed their families a healthy diet. You can write about dealing with picky eaters, solid foods introduction, cooking meals for a family with varied tastes, and more. Titles could include:
Baby Lead Weaning Recipes
Recipes to make with your kids
Homemade Baby Food
Fun vegetables for picky eaters
Recipes for everyone: pleasing diverse paletes
These are just some ideas you can use to create a whole series of recipe eBooks that can be available for purchase on your website or elsewhere online.
You can also create generic eBooks about healthy eating, mindful eating, or any other topic that you have expertise in.
Passive Income from eBooks: Personal Trainers
If you’re a personal trainer, you can also create a series of eBooks that would be helpful to your readers and would place you as an expert in your field. Here are just some ideas:
Train Anywhere: Using Your Body as Your Gym
Hotel Fitness: How to get a great workout in a small space
Weight Training for Beginners
Level Up Your Weight Training
Safe high intensity training
Again, these are just some of the ideas to create an excellent source of side income while helping out more clients and adding dollars to your bottom line.
You get the idea—find your area of expertise within your industry and create an eBook (or preferably, a series of eBooks) around that expertise. Although this part certainly requires a bit of work, most eBooks are pretty short, so you can write them fast. Be sure to do some market research first, though.
Once you’ve done the work of writing these eBooks, you can sell them over and over, whether on Amazon, or, if you have a large enough following, directly on your website. Yes, selling eBooks does take some marketing, but once you’re comfortable, you can outsource that, too. And if you have the means upfront, you can even outsource the whole book writing as well!
While eBooks are an excellent way to make a side passive income, they’re not your only (or even your best) option.
If you’re a wellness entrepreneur, chances are, you’re selling personalized programs (or coaching) to clients. The problem with this business model is that it’s not scalable. But if you add premade programs to the mix, you help more clients, and make some passive income to boot.
Passive Income from Premade Programs
One of the best ways to create a passive income for your health and wellness business (while also building authority in your field) is to create premade programs that you can sell over and over. Because they’ll be less expensive than one-on-one coaching, they make an excellent way to create an automatic sales funnel.
You may get clients who sign up for the program, love it, and then sign up for your other services. Make sure to set up a mailing list, put your best email marketing hat on, and provide lots of value to these clients, so when they’re ready to buy, you’re top of mind.
A simple way to get started on selling programs is to sell meal plans and related information products. If you’re a nutritionist, dietitian, personal trainer, or other health professional, you know how important meal planning can be. Yet most of your clients don’t have the time or desire to spend creating their own meal plans. Here’s your opportunity!
Why not create a great general meal plan for your clients, bundle it up with excellent information, and sell it over and over?
Some clients are really just looking for a little guidance to get their healthy eating plan in motion. Providing them with a ready-made program helps them reach their goals, builds your authority, and helps you make some passive income, too.
Want to create a program in an ultra easy way? Check out Meal Garden’s new Programs feature! You can create programs for your clients, add information, articles, and more, and start creating your passive income.
Want to see the Programs feature in action before trying it out? Check out how I’ve used it for my new Gentle Spring Cleanse program here!