Creating Multiple Income Streams

Creating Multiple Income Streams

With the upheavals caused by 2020, many massage therapists and spa business owners have been asking whether there’s other ways to make money when times are hard. The good news is that with a little effort, it’s very possible to set up several extra streams of income that don’t rely on face to face interactions and can support your business in good times and bad. If you are passionate about your wellness business, you can find an extra income stream to suit you.

Monetized Blog

This one is great if you specialize in a niche area of the industry and have a passion for and great knowledge of it. A blog gives you the opportunity to share your knowledge with others and build a personal brand at the same time. If you love aromatherapy for example, you could create a blog that focusses on all aspects of it, from the essential oils to techniques used in massage, making remedies at home, history and current research. Diving deep into  a subject will attract people who also love aromatherapy and your knowledge will make you stand out.

You will have to be able to create offer high-quality content, preferably both video and written, that encourages traffic, creates a buzz and inspires people to follow you. When you have everything in place and a decent amount of traffic, you can start to monetize your blog. There are several options: affiliate marketing, selling products directly, selling eBooks and courses and even affiliate marketing.

Drop Shipping

Drop Shipping enables you to sell any wellness products online without having to stock them yourself. If you have access to a computer, can set up an online store and have a basic idea of marketing it’s a profitable extra source of income.

You’ll need to research your products well, and then find a trustworthy supplier. Check delivery times; one complaint customers have is that they have to wait a bit longer for their orders as the drop shipping companies are in places like China – do your homework first! Once you have the logistics in place, you can list the products you’ve chosen to sell on your website at whatever price you decide – although obviously you need to set the retail price at a rate that makes you a profit. Encourage customers to order from you, and once they have paid for their order you in turn order the items from the supplier at a wholesale price and arrange for them to be shipped direct. The key to making money with drop shipping is finding a niche product that doesn’t have a huge amount of competition and being able to sell it with authority.

YouTube

YouTube is a hugely popular way to share knowledge – so why not share yours using their video platform and earn money at the same time?  YouTube is currently the world’s most popular place to go to for video content, and like a blog, if you demonstrate that you have a lot of knowledge about something that people are excited to learn about, you can start a channel of your own, quickly gain followers and monetize it. It takes time to build; YouTube needs you to have at least 1,000 subscribers and 4000 hours of watch time in the past year to be able to monetize your channel, but there’s no reason why you can’t do this over time and generate a small income from it.

Affiliate Marketing

What products do you use most? The best way to make money from affiliate marketing is to only promote products that you use and love, so that you are being authentic and knowledgeable. You could even blog about the products and brands so that you encourage people to buy from you.

Think about what you can sell successfully and find yourself an affiliate program. Then promote and sell the products to earn a commission on sales.

Podcasting

If you’re not a fan of writing, podcasting is definitely popular at the moment and can be a great way to earn extra cash. Record podcasts and post them for your audience in your niche subjects, gain a following over time and when your podcast starts generating a decent amount of traffic you can begin to monetize it. As with blogging, you need to choose a niche in your wellness business carefully and make sure that your content is good quality.

There are many podcasting platforms, some are free, and others charge a fee for membership. It can seem confusing; you don’t upload it to iTunes, Apple, Spotify or even your own website. The podcast is usually uploaded somewhere else entirely, and then published to places like Spotify or iTunes. Here’s a list of podcast hosting sites to give you a head start.

Once you have enough traffic, you can start placing ads and affiliate marketing, selling products and more through your podcast. Some also make money by asking membership fees and voluntary donations.

eBooks

If you have the time, eBooks can be a fantastic way to generate extra money. As a therapist, you have so much knowledge to share, and all it takes is the time and effort to translate your experience into something that people will be able to use and learn from.

Choose your particular niche topic, write useful and engaging content and sell the eBooks as downloads via your website.

If you don’t have time to write the books yourself, you can hire a ghost writer, and it’s a good idea to also use editing services if you can afford them. Once the book is ready, you can upload it to a platforms like Amazon’s KDP you can write, upload, and sell as many eBooks as you like, although they won’t sell themselves; most self-published writers will tell you that promotion is a major part of the process.

Check out my ebook writing course in the ELEVATE program to help you get started.

Teaching Courses

Of course, many massage and spa therapists also teach what they know through in person or online classes. Learn more about teaching courses in this article, and check out these programs to help you get started:

Next time you find yourself with spare time, think about how you can monetize your experience and make passive income with your massage or spa business. It’s not as hard as you might think.

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