Everywhere you turn, people are talking about side hustles and part time gigs that help them bring in extra cash. Whether it is a part time job, a blog, or taking surveys, they brag about how they paid off debt, took a lavish vacation, or saved for retirement.
I am always on the hunt for new ideas for how I can make some side income doing what I love. Since teaching is a big passion of mine, I was eager to try out online teaching. After spending several months applying for online teaching jobs to no avail, I ran across the platform Udemy. Here is my honest, 100% raw account of my experience with using Udemy as a teaching platform to make passive income on the side. Have a look!
What is Udemy?
Let’s start off with the basic question – what exactly IS Udemy?
Udemy is an online platform that allows individuals such as you and I to teach something we have knowledge in. You create videos, handouts, and quizzes and post them on the site in the form of a class.
Once Udemy reviews your course and accepts it, then it goes live and you can make money from other people taking your course.
How much can I make?
There are 2 different aspects to this question. The first has to do with how you price the course. You can choose a price in increments of $5, starting at $20 and going to a max of $200. You can also list your course for free.
The price of the course depends on the topic (and the demand for courses in the area), the length of the course, and how well the course is laid out. Udemy support staff can help you determine an appropriate price for your course – or you can do a little recon on your own and see what like courses are selling for.
The second part of the question has to do with what percent of the money you receive and what percent Udemy keeps.
If the customers come from your marketing and advertising, then you keep 100% of the revenue, minus a payment processing fee of 3%. If the customers come from Udemy advertising, then you keep 50% of the revenue.
So your goal is to find as many clients as you can yourself and then the ones that come from Udemy are a bonus!
When and how do I get paid?
Now that we know how the payments work, it’s time to discover how you are paid!
The great thing about Udemy is that they will pay you through Paypal. Link your account and you can start receiving monthly income from them. Super easy and secure! What you choose to do with the money when it hits your Paypal account is completely up to you.
The only downfall with payment is that you are paid out 1 time a month, 60 days later. The reason for the delay is that Udemy offers a 30 day return policy for their students. Great for the student, not as much fun for you. Since the material is 100% available to them right away, some students simply take the course and then return it for a full refund because they don’t want to pay for it. While those students are few and far between, it does happen.
The additional 30 days are for their processing times.
When you are first getting started, it is a pain to wait 60 days for your first check. After you are selling course for a while, then the payments start rolling in every month so it is not as big of a deal.
How easy is the platform and website to use?
I found the website and teaching platform to be very user friendly. There is a lot of help and guidance offered along the way, and they reach out to you and help you make your course even better. They will even design a picture for your course!
The platform is designed to be mainly video, with the majority of that video being you talking and not screen sharing. This can be intimidating at first, but once you get used to the camera, it can be a lot of fun!
Once your course is ready and you submit it for review, they are usually pretty fast with getting it reviewed and published. If there are any changes they need you to make before publishing, they very clearly spell them out. They also offer suggestions for you to make your course even better.
I have enjoyed using Udemy so far. I currently have 3 courses created with them (check out my shameless plug for them below :)). They say the average instructor makes $8,000 per year, so my goal is to surpass that and kick average to the curb! I am well on my way with my three classes:
Do you want to sell on Udemy and make an extra $8,000 (or more)? Take a look around the site and see what you think. It might be your newest side hustle/passive income stream!
Let us know about YOUR experience with Udemy. Leave a comment below!