There are money income generating opportunities online. One way to earn is to share your professional knowledge through money making online courses, also known as massive open online course (MOOCs). Contrary to popular belief that people are only interested in information technology and science MOOCs, many other specializations are also in demand. However, that will be discussed in detail in another post. This time, we will provide you with an overview on how much money you can potentially earn when selling massive open money making online course in different platforms.
Udemy allows for free creation and hosting of online courses. There is no limit to the amount of online courses you can create. As an instructor, you are entitled to a 100% revenue share if students purchase paid courses using an instructor coupon. Deductions include a 3% administrative processing fee. For instructors located in Japan, the processing fee is 4%. For purchases without the use of instructor coupons, revenue is only 50%. According to Udemy, if instructors participate in the premium instructor program or the Udemy Deals, they will make 54% more than non-participants on an average.
However, on a deeper analysis, you will realize that Udemy’s revenue structure will eventually produce some level of “cannibalism” between instructors. For instance, should you bring in a student who initially signs up to Udemy using your instructor coupon, you take away chances for the other instructors to earn 100% revenue for that particular student. For instructors who started earlier in Udemy, this could be a good passive income generating project for them, but for those who signed up later when Udemy is more saturated, it would be quite difficult to obtain a 100% revenue share.
Lynda mainly looks for instructors with expertise in technology, creative and business fields. They may accept other fields of expertise too, it depends on topics you are covering, who your target audience are, and any sample video, publication, website, books and movies that you have.
According to Quora user who introduced himself as a Lynda.com employee, the total earnings per instructor is calculated this way:
Total monthly revenue earned by Lynda x % of active users x % of unique view per course x contract royalty rate (negotiable)
For students who would like to sign up, there is no free subscription, just a 10-day trial. There are two monthly subscription plans – basic and premium. The basic plan is worth $19.99 per month. It offers unlimited access to all courses, however, subscribers do not have access to project files, quizzes and offline viewing. Premium users, on the other hand, need to pay $29.99 to access all features.
Joining Coursecraft is completely free. Just like Teachable, Coursecraft let’s you price your course. However, they would take a 5% fee from the course price. They also charge 2.9% of the total price plus 30 cents on transaction fees. Coursecraft accepts any topics on any categories so you can create online courses without limits. As a course creator, you need to have a Paypal or Stripe account to accept payments.
Coursecraft also offers a Pro account for a one-time payment of $49. Pro users can sell bundled courses, custom brand for free, upload multimedia files without limit and can allow unlimited participants. This is particularly good for those who charge per seat rather than per course.
Tru Academy offer four types of plans – free, plus, pro and biz. Just like some of the learning management platforms mentioned, Tru Academy allows you to price your own course. All plans offer unlimited courses, unlimited students and unlimited hosting. All plans also feature integration of ecommerce pages, landing pages, theme customization, discussion forums, third party tools, quizzes, integrated analytics, support forums, SEO optimization, SSL certificate, and a mobile website view.
The site deducts a fixed fee of $1 plus 10% of the course fee for the free account. The plus plan costs $39 per month and deducts 5% of the course fee. The pro account costs $89 per month and deducts 2% of the course fee. The biz plan, on the other hand, costs $279 per month with no deductions on course fee.
If you look at the monthly charges, Tru Academy is cheaper than most options. Plus, the site allows for multiple instructors in their paid plans. Setup is completely free. If you want to create your own online course and earn from them, sign up now by clicking below.