In this article, you’ll learn how much can you make selling online courses. As well as how much you should charge for your course, and other factors that will determine how much you earn.
Do you want to see how much money you could make from online courses before creating your own?
What kind of profit margins can you expect from selling online courses? It fluctuates a lot. Your online course might bring in anything between $0 and $50,000 per month. Many course makers will make between $1 and $5k each month, and there are several stories of online course instructors making between $10k and $50k per month.
The amount of money you can make offering online courses is determined by a variety of things. The cost of your course, the size of your specialty, and the size of your existing audience are all important considerations.
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How Much Can You Make Selling Online Courses?
The cost of your online education will have a significant impact on the amount of money you make each year.
If your course is only $25, you’ll need to sell 2,000 copies in a year to make $50,000.
For example, if you sell your course for $250 instead, you would just need to sell 200 copies.
Which do you think is easier: selling 200 or 2000 copies of a course?
Selling a cheaper course is, of course, easier. People are more inclined to buy a $10 or $20 course on the spur of the moment. Surprisingly, until your course costs more than a couple hundred dollars, the cost isn’t really a consideration.
Before paying $500 or $1,000 for a course, people will have to think twice. Most people with full-time employment, on the other hand, would not hesitate to pay $100 or $200 for a course if they were interested in the subject and understood the value they would receive.
As a result, instead of pounding out a large number of little, low-cost courses, I’d recommend attempting to create a more in-depth, high-quality, and higher-priced course to optimize your earnings. Also, don’t be scared to charge extra for the services you provide.
Your Level of Expertise and Brand Recognition
Someone with a 100k-follower YouTube channel and a well-established blog or website will have a much easier time selling an online course than someone who appears to have appeared out of nowhere.
This is due to the fact that they already have a well-established brand and reputation, as well as a high degree of trust among their existing followers. Every major brand has a big number of ardent fans who will buy whatever product it releases.
You don’t have that luxury if you’re launching a fresh new course with no established audience. Nobody knows who you are, so getting those initial few sales will be more difficult.
To develop your first tribe of satisfied course clients, you’ll need to put in a lot of effort, build trust, and perhaps offer your course at a cheaper price for a period.
It will be much easier to sell your course and at a higher price once you have case studies and testimonials to back it up.
Market Size and Competition
In an ideal world, you’d locate a vast market with little competition. However, those are difficult to come by. Other courses will immediately develop to take advantage of such a market if one exists.
If there’s a lot of competition in a big market, I’d stay away. Making an online course about the keto diet, for example.
I’d also stay away from really niche or simple topics with small market sizes. Take, for example, a kite-flying online lesson.
Anything that efficiently teaches people how to earn money or address a pressing problem is usually an excellent place to start, as does anything that is a hobby or skill that a large number of people are interested in.