14 Passive Income Ideas For Pharmacists [2024]
Interested in earning passive income as a Pharmacist in 2024?
We put together a few of the best passive income ideas you can start as a Pharmacist today. These will help you increase your quality of life by bringing in more income for yourself or your business.
For each income idea, we’ll show you real-world examples, revenue expectations for each idea, plus some things you might need to know before you start your passive income journey as a Pharmacist.
Here's the full list:
1. Make passive income with a niche blog ($31.5K/month)
Starting a niche blog could be a smart way for you as a Pharmacist to make extra money by sharing your medical expertise with a broader audience. Whether you choose to focus on medication management, health tips, or reviews of the latest pharmaceutical products, your professional knowledge will be invaluable. You could create unique and informative content like articles, how-to guides, top product lists, and even video interviews with other experts.
To monetize your blog, you could provide affiliate links for products you recommend, collaborate with health-related brands, and possibly even speak at events. For instance, recommending supplements through an affiliate partnership could bring in steady income as your audience grows. Over time, as you gain visibility and followers, your blog could become a reliable source of passive income, all while you continue working in your pharmacy career.
How much you can make: $100 — $650,000/month
How much does it cost to start: $650 (?)
How long does it take to build: 60 days (?)
Starter Story grew to 1.4 million monthly visitors and millions in annual revenue by sharing the stories of entrepreneurs. Pat breaks down the early days and how he grew the business into something that changed his life.
2. Make passive income with an online course sales business ($85K/month)
As a pharmacist, you possess a wealth of knowledge that can be valuable to others. By starting an online course sales business, you could share your expertise on various subjects like pharmacology, medication management, or even offer test prep for pharmacy exams. This way, you are not only supplementing your income but also contributing to the education of future healthcare professionals.
Creating an online course may seem daunting, but it can be broken down into manageable steps. You could begin by identifying what specific topics you are most knowledgeable and passionate about. Once you have your topic, you can create the content for your course and choose an online platform to host and sell it. With the e-learning market projected to be worth over $645 billion in the near future, this could be a profitable and impactful side hustle for you.
How much you can make: $100 — $300,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 180 days (?)
A multipreneur shares how she built a successful print on demand side hustle, generating $120,000 per year through multiple brands spread over various platforms.
3. Make passive income with a health and wellness app ($108K/month)
Starting a health and wellness app could be a rewarding way for you, as a Pharmacist, to supplement your income and make a positive impact on others. Imagine creating an app that helps users achieve their health and wellness goals through personalized fitness routines, nutrition plans, mental well-being exercises, and progress tracking. By combining your expertise in health with technology, you would be able to offer valuable advice and practical tips to a wide audience.
The app could serve as a virtual coach, reminding users to stay hydrated, guiding them through yoga practices, and offering meal plans tailored to their individual needs. This venture would involve market research, collaboration with health experts, app development, and effective marketing strategies. Though it requires initial effort, the opportunity to positively impact lives and tap into a growing market is significant.
If you have a passion for health and technology, this could be your chance to make a meaningful contribution while building a thriving business. In addition to creating a valuable tool, you could generate passive income as users subscribe to the app's premium features. This entrepreneurial path offers both financial benefits and the satisfaction of helping others lead healthier lives.
How much you can make: $600 — $300,000/month
How long does it take to build: 200 days (?)
Founder and CEO of SelfDecode, Joe Cohen, explains how his company helps people discover personalized diet, supplement, and lifestyle recommendations based on DNA and lab tests; generating about $2.7 million in revenue over the past year and raising $8 million in a crowdfunding campaign, SelfDecode provides personalized health recommendations prioritized on unique genetic variants, marking the future of healthcare.
4. Make passive income with a niche website ($107K/month)
As a pharmacist, you could supplement your income by starting a niche website focused on a specialized area of pharmacy or healthcare. This could involve sharing your expertise on specific medications, discussing the latest in pharmaceutical research, or offering advice on managing chronic conditions.
By creating helpful and informative content, you could attract a dedicated audience interested in these topics. Over time, your website could earn money through affiliate marketing, ad placements, or even selling digital products like e-books or online courses. This venture offers a way to leverage your existing knowledge to build a reliable source of passive income.
How much you can make: $400 — $250,000/month
How long does it take to build: 60 days (?)
DPW (Digital Procurement World) is a fast-growing conference and community in procurement that has more than tripled in revenue since launching in 2019, capping out the year at €1.8 million, with 95% of their growth coming from inbound traffic leveraging LinkedIn and applying social selling techniques.
5. Make passive income with a niche investment platform ($167K/month)
Starting a niche investment platform could be an exciting way for you as a pharmacist to earn extra money passively. By creating a specialized online exchange for alternative assets, such as cryptocurrencies, real estate, or even collectibles, you could cater to a unique group of investors looking for diversification beyond the stock market. This could offer you recurring revenue through transaction fees and premium subscriptions.
Your deep understanding of niche markets and modern technology could help you make a transparent and flexible trading ecosystem. The flexibility in portfolio combinations can attract an exclusive user base, providing you with a consistent stream of income. For investors interested in fine wine or up-and-coming athletes, your platform could offer a compelling way to diversify their portfolios, making your venture both rewarding and profitable.
How much you can make: $2,000 — $600,000/month
How long does it take to build: 180 days (?)
Equity Residences is a luxury real estate investment fund that has raised $40 million from over 200 investors, offering them access to a portfolio of luxury vacation homes for investment and personal use, with a minimum investment of $161,500 and plans to acquire a further twenty residences ranging from $1.5M to $4M.
6. Make passive income with a stock photography business ($14.6K/month)
If you're a pharmacist with an entrepreneurial mindset, starting a stock photography business could be a practical side hustle. You could capitalize on your downtime by taking high-quality photos and uploading them to stock photography sites. This way, businesses can purchase your images for marketing purposes, and you could earn income without continuous hands-on effort.
To get started, you might need to invest in good photography gear and learn the basics of taking and editing photos. With an impressive portfolio and some online marketing, you could sell your stock photos and start earning passive income. This could be a satisfying and profitable way to supplement your pharmacist's salary.
How much you can make: $1,200 — $45,000/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 60 days (?)
Pro Photo Studio founder Tsour Lee Adato shares how she turned a $5k investment into a business that services over 500 clients annually and makes approximately $350k per year with plans to expand and become a 7-figure business while offering advice to fellow entrepreneurs to always be innovating, learning and growing, and not to undervalue themselves.
7. Print on demand business ($411K/month)
Starting a print-on-demand business could be an excellent way for a pharmacist to supplement their income and explore their creative side. By designing custom products like apparel, phone cases, or home goods, you could leverage your unique perspective and experiences to create niche items that resonate with other healthcare professionals and the general public.
Utilizing platforms like Amazon, eBay, or Etsy, you could reach a global audience without the need for upfront inventory, making it a low-risk venture. Overall, operating this kind of business from home and at your own pace could provide a scalable and flexible way to generate passive income while maintaining your primary career as a pharmacist.
How much you can make: $200 — $3,000,000/month
How long does it take to build: 30 days (?)
Time commitment per week: Min. 5 hours/week
Founder Roy Kirchner shares how he started an eCommerce business specializing in 3D printing with an initial investment of $65,000, which now averages monthly gross sales of $330,000 and has partnered with international manufacturers and local businesses while offering technical support and education.
8. Make passive income with a real estate investment firm ($398K/month)
Starting a real estate investment firm could be an ideal venture for pharmacists looking to supplement their income or make extra money. This business involves buying, managing, and selling real estate assets to generate profit. By identifying valuable properties and making strategic investments, you could see substantial profits as property values appreciate over time.
Rental properties, for instance, generate a steady income stream, offering a reliable source of passive income. If you enjoy real estate and have a talent for spotting potential, this could be a rewarding way to diversify your income. However, success requires diligent market research and careful financial planning to manage the operational aspects effectively.
How much you can make: $10,000 — $1,500,000/month
How long does it take to build: 210 days (?)
Equity Residences is a luxury real estate investment fund that has raised $40 million from over 200 investors, offering them access to a portfolio of luxury vacation homes for investment and personal use, with a minimum investment of $161,500 and plans to acquire a further twenty residences ranging from $1.5M to $4M.
9. Make passive income with a YouTube channel ($72.1K/month)
If you have a knack for creating compelling video content, starting a YouTube channel might be your next big move as a Pharmacist. You could share your expertise by creating educational videos on topics like medication management, drug interactions, and over-the-counter recommendations. This not only helps people gain valuable insights but also positions you as a trusted authority in your field.
As your channel grows, you could start earning revenue through ads, sponsorships, and even selling pharmaceutical-related merchandise. Building a successful channel will require consistency in uploading quality videos and engaging with your audience. While it demands effort and dedication, the potential financial rewards and the ability to share your unique voice make it a worthwhile venture.
How much you can make: $2,000 — $333,333/month
How much does it cost to start: $5,250 (?)
How long does it take to build: 30 days (?)
This case study follows the journey of a young entrepreneur from Nigeria who started a profitable blog generating a monthly revenue of $1,500+ through sales of advertising space, sponsored posts, and information products, and shares his strategies for success including a Twitter growth challenge and guest post pitches.
10. Make passive income with a stock investing business ($30.3K/month)
As a pharmacist, you could consider starting a stock investing business to supplement your income. This venture involves buying and selling stocks, analyzing market trends, and making informed decisions to generate profit. It's a way to leverage your analytical skills and attention to detail in a new and potentially lucrative field.
Stock investing requires dedication and continuous learning, but there are abundant educational resources and trading platforms to help you get started. While it's not a quick path to wealth, with the right strategy and risk management, you could see significant returns. If you’re passionate about finance and willing to stay engaged with market movements, a stock investing business could be a rewarding entrepreneurial journey.
How much you can make: $4,000 — $160,000/month
How much does it cost to start: $3,500 (?)
How long does it take to build: 90 days (?)
Ticker Nerd is a monthly subscription service for investors that surfaces and analyzes trending stocks before the hype train arrives, and now has $4.5k in monthly recurring revenue from its newsletter without spending a single dollar on advertising, having validated the business via subreddits and organic Product Hunt launch strategy.
11. Make passive income with a mobile app ($70.3K/month)
As a pharmacist, you could leverage your expertise to develop a mobile app that addresses specific needs within the healthcare sector. For example, you could create an app that helps patients manage their medication schedules, provides drug interaction warnings, or offers general pharmaceutical advice. Your unique knowledge could ensure the app is both reliable and user-friendly, making it a valuable tool for patients and healthcare providers alike.
Starting a mobile app business might seem daunting, but it’s more feasible than you think. Basic coding knowledge is a plus, but you could also hire a skilled developer to bring your vision to life. The key tasks will involve planning the user experience, designing engaging interfaces, and thoroughly testing the app for functionality and bugs. Once your app is ready, effective marketing is crucial to attract users and generate downloads. With dedication and the right approach, your app could become a popular solution and provide a steady stream of passive income.
How much you can make: $1 — $500,000/month
How long does it take to build: 180 days (?)
BACH, an app that plans and books bachelorette parties, has grown from $0 to >$1M net revenue run rate in less than 6 months, gained over 100,000 users in their first 60 days, and has over 40,000 parties using the app this month.
12. Make passive income with an email marketing tool ($235K/month)
As a pharmacist, you could explore creating and managing an email marketing tool to generate passive income. Since you already possess strong organizational and communication skills, you could develop newsletters focused on health tips, medication reminders, or new pharmacy products. By automating these email campaigns, you could reach a wide audience without much ongoing effort.
An email marketing platform might initially require an investment in a domain and hosting account, but the potential for growth is enormous. With the email marketing industry expected to reach $2.53B by 2028, your tool could attract users from various fields, providing them with a way to reach their customers effectively. This endeavor not only opens up an additional income stream but also leverages your existing expertise in healthcare.
How much you can make: $120 — $2,083,333/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 170 days (?)
H-supertools founder Hasan developed a set of free SEO and digital marketing tools generating $2k per month in profit using Google Adsense, affiliate marketing, selling ad spaces, and email, plans to launch a membership option, and has attained over 80k registered users and 300k monthly visits in less than two years.
13. Make passive income with an ai based business solution ($55.8K/month)
As a pharmacist, leveraging an AI-based business solution could open up various opportunities to supplement your income. For instance, you could develop an AI tool that helps streamline the management of pharmacy inventory, ensuring that medications are always in stock and reducing waste from expired drugs. This not only saves time but also cuts costs, making pharmacy operations more efficient.
Additionally, an AI customer service chatbot could assist patients with their queries, freeing up valuable time for you and your staff. Another idea could be creating an AI-driven personalized marketing platform that helps local pharmacies target customers with tailored health advice and product recommendations. With AI's growing demand and user-friendly platforms available, exploring these possibilities could be a strategic way to innovate in the pharmaceutical field and earn passive income.
How much you can make: $4,000 — $120,000/month
How long does it take to build: 125 days (?)
Mikkelsen Twins grew an online education company from scratch with over 800 students, making over 6-figures in profit every month thanks to their successful program, Audiobook Income Academy 2.0.
14. Make passive income with a social media automation business ($148K/month)
As a pharmacist, you could leverage your technical and analytical skills to start a social media automation business. This involves creating tools and services that schedule posts, automate interactions, and provide data analysis across various social media platforms. By helping small businesses and influencers enhance their online presence, you provide a valuable service that saves them time and effort.
Developing or integrating software solutions could be a practical way for you to diversify your income. This business doesn't require constant attention once the automation is set up, making it a great way to earn passive income alongside your pharmacy career. It's a perfect fit for those who are fascinated by technology and marketing trends.
How much you can make: $4,000 — $400,000/month
How long does it take to build: 50 days (?)
MeetEdgar, a bootstrapped social media automation tool founded in 2014 by Laura Roeder, has grown to $4 million in annual recurring revenue and more than 5,000 customers, with a team size of two dozen, achieved through content marketing, social media marketing, and organic search.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
