Passive Income Ideas For Lawyers [2024]
Interested in earning passive income as a Lawyer in 2024?
We put together a few of the best passive income ideas you can start as a Lawyer 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 Lawyer.
Here's the full list:
1. Make passive income with a niche blog ($31.5K/month)
Starting a niche blog could be a great opportunity for you as a lawyer to share your expertise on specific legal issues or interests, such as intellectual property, personal injury law, or even work-life balance for legal professionals. By focusing on a particular area that you're passionate about and that might be underserved, you could attract a dedicated audience eager to learn from your insights and experience.
Creating unique and informative content such as articles, how-to guides, case studies, or commentary on recent legal events could help you build credibility and a loyal following. Once you have an audience, you could monetize your blog through affiliate links for legal products, collaborations with brands, or even by launching a related YouTube channel.
Becoming a niche blogger could also open doors for you to speak at industry events or collaborate with peers, further establishing yourself as an authority in your chosen topic. Engaging regularly with your followers and continually producing quality content could turn this side hustle into a steady passive income stream.
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 lawyer, you could supplement your income by creating and selling online courses based on your legal expertise. This could include courses on understanding contracts, navigating the legal aspects of starting a business, or even specialized topics like intellectual property law. By sharing your knowledge, you not only help others but also create a passive income stream for yourself.
Creating an online course is relatively straightforward—you just need to identify your target audience, develop the course content, and choose a platform to host and sell your course. Given the booming e-learning market, which is projected to reach over $645 billion in the coming years, your expertise could be in high demand.
This not only allows you to leverage your in-depth legal knowledge but also helps you build a reputation as a thought leader in your field. Beyond the financial benefits, teaching can also be highly rewarding and expand your professional network.
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 YouTube channel ($72.1K/month)
As a lawyer, starting a YouTube channel could be a smart way to supplement your income and share your expertise with a broader audience. You could create content ranging from explaining complex legal concepts in simple terms to offering practical advice on common legal issues people face. This not only helps others but also positions you as an authority in your field, which could attract more clients to your practice.
While it requires effort to plan, shoot, and edit videos, the potential financial rewards through ads, sponsorships, and even merchandise could make it worthwhile. With consistency and quality content, you could establish a channel that not only earns passive income but also enhances your professional reputation. It's an opportunity to blend your legal knowledge with creativity and make a meaningful impact.
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.
4. Make passive income with a niche website ($107K/month)
If you're a lawyer with a specific legal expertise or interest, starting a niche website could be a great way to supplement your income. You can focus the website on an area you're deeply knowledgeable about, such as family law, intellectual property, or contract negotiations, and provide valuable insights and resources. This allows you to capitalize on your existing skills while offering specialized content to a dedicated audience.
Creating compelling content and driving traffic are key steps. You could offer blog posts, how-to guides, and even digital products like e-books on legal topics. With time and effort, your website could attract a loyal following, which opens opportunities for monetization through ad placements, affiliate marketing, or even selling your own services.
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 podcast ($97.9K/month)
As a lawyer, starting a podcast could be a smart way to share your legal expertise while creating a passive income stream. You could focus on a specific legal niche or topic that you are passionate about and that has an audience, like legal tips for small business owners or updates on new laws and regulations. This way, you not only provide valuable information but also position yourself as an authority in your field.
To get started, you’d need basic recording equipment like a microphone and headphones, and a hosting platform where you can publish your episodes. By promoting your podcast through social media and online communities, you could build a dedicated audience. Over time, you might attract sponsors or advertisers, adding a new source of income.
How much you can make: $400 — $1,020,000/month
How much does it cost to start: $2,000 (?)
How long does it take to build: 60 days (?)
Time commitment per week: Min. 2 hours/week
A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.
6. Make passive income with a real estate investment firm ($398K/month)
Starting a real estate investment firm could be an excellent way for you as a lawyer to supplement your income and achieve passive income goals. This venture would involve buying, managing, and selling real estate properties, tapping into your expertise in negotiating deals and understanding contracts to secure lucrative investments.
Given the substantial profit potential in the real estate market, you could see significant growth in your wealth, with properties appreciating over time. Additionally, rental properties could provide a steady income stream, enhancing your financial stability.
With your analytical skills and attention to detail, you could excel in identifying valuable properties and executing strategic plans. This combination of legal knowledge and entrepreneurial spirit can make real estate investment a highly rewarding side endeavor.
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.
7. Make passive income with an affiliate marketing business ($77.5K/month)
As a lawyer, starting an affiliate marketing business could be a practical and profitable side hustle. By promoting products and services that align with your legal expertise or interests, you could generate a passive income stream. This may involve partnering with eCommerce stores or manufacturers and marketing their products for a commission on each sale.
Moreover, your strong communication skills and knowledge of various legal sectors could help you effectively create content that attracts potential buyers. For instance, you could promote industry-specific tools, software, or educational resources related to law, making your recommendations more credible. Finding the right product and brand to partner with is essential, but once established, it could provide a rewarding way to supplement your income.
How much you can make: $500 — $773,000/month
How much does it cost to start: $700 (?)
How long does it take to build: 60 days (?)
This case study explores how Spencer Mecham founded Buildapreneur, an affiliate marketing business, and has made over half a million dollars in profit with no employees, relying solely on content marketing through platforms like Facebook, YouTube, and TikTok.
8. Make passive income with a social media automation business ($139K/month)
As a lawyer, you could supplement your income by starting a social media automation business, which involves creating tools and services to manage multiple social media accounts efficiently. This business would allow you to schedule posts, automate interactions, and analyze data for various clients, such as small businesses and influencers, who value consistent and strategic engagement on their social platforms. By taking on this role, you'd be providing a valuable service that saves your clients time and helps grow their social media presence.
Given the increasing need for reliable and effective social media management, there is a significant demand for automation services. You'd need to focus on developing or integrating software solutions, keeping up with the latest social media trends, and building strong relationships with your clients to personalize the services you offer. For entrepreneurial-minded lawyers with an interest in technology and marketing, this could be a profitable and rewarding side venture.
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.
9. Make passive income with a lead generation tool ($108K/month)
As a lawyer, you could explore developing a lead generation tool to help businesses attract the right clients more efficiently. This software or platform would automate the task of finding new clients by collecting valuable data like email addresses, phone numbers, and interests from various digital touchpoints such as websites and social media.
The high demand for effective lead generation means businesses are eager to streamline their marketing efforts. If you have a knack for technology and marketing, this could be a promising way to supplement your income. Plus, the passive nature of this tool allows you to generate revenue even as you focus on your legal practice.
How much you can make: $1,000 — $400,000/month
How much does it cost to start: $600 (?)
How long does it take to build: 90 days (?)
Dux-Soup is a LinkedIn automation tool that helps business owners and sales & marketing professionals generate more leads, increase efficiency, and save time; with over 70,000 users and revenue of nearly $5 million, it offers automated top-of-the-funnel LinkedIn outreach activities, targeted LinkedIn campaigns and multi-touch & personalized LinkedIn drip campaigns for lead generation.
10. Make passive income with a wordpress plugin business ($33.4K/month)
As a lawyer, you could leverage your legal expertise to identify common issues faced by law firms and create WordPress plugins that address these challenges. For instance, you might develop a plugin to streamline client intake forms, automate document management, or enhance data security. This way, you are providing valuable solutions while earning passive income from plugin sales.
Starting a WordPress plugin business doesn't require extensive tech knowledge. You could collaborate with a developer to bring your ideas to life. Once created, you could sell these plugins on platforms like CodeCanyon or even market them directly through your own website. This could be an excellent way to supplement your income and tap into the growing demand for customized legal tech solutions.
How much you can make: $120 — $120,000/month
How much does it cost to start: $5,000 (?)
How long does it take to build: 120 days (?)
Time commitment per week: Min. 5 hours/week
Wheely Sales CEO Josh created a lucky wheel popup that has grown revenue from $0 to $600/month in just 4 months since getting started and has attracted over 1.1 million users to his customers’ websites, all while proving that when it comes to creating a product, competition is validation.
11. Make passive income with an ai based business solution ($55.8K/month)
As a lawyer, you could supplement your income by starting an AI-based business solution that leverages artificial intelligence to streamline various aspects of legal practice. For instance, you could develop or invest in AI tools that automate repetitive tasks like document review, legal research, and contract analysis, which can save time and reduce operational costs.
Additionally, AI can provide valuable insights through data analysis, helping you predict case outcomes or identify market trends, offering a competitive edge. You don't need a tech background to get started; many AI platforms offer user-friendly interfaces and strong support. With the growing demand for AI solutions, launching such a business could be a strategic move to innovate within the legal field and increase your earnings.
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.
12. Make passive income with an email marketing tool ($992K/month)
As a lawyer, starting an email marketing tool could be a smart way to supplement your income and even generate passive revenue. You have a unique perspective on compliance, privacy laws, and data management that could help in designing a high-quality email marketing tool that stands out for its legal safeguards. This would not only make your platform more attractive to users but also position you as an authority in the growing email marketing industry.
Furthermore, with email marketing being one of the most effective marketing channels, you could reach a wide range of clients, from startups to real estate agents, who require robust email campaign tools. By automating the creation and management of email campaigns, your platform could provide a seamless user experience that effortlessly builds email lists and engages audiences. This venture is not only lucrative—projected to reach $2.53 billion globally by 2028—but also practical, leveraging your existing knowledge and skills in the legal field.
How much you can make: $120 — $20,833,333/month
How much does it cost to start: $1,000 (?)
How long does it take to build: 180 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 a mobile app ($70.3K/month)
As a lawyer, creating a mobile app could be a great way to supplement your income or start earning passive income. You might develop an app that caters to the legal community or the general public, such as a tool for scheduling, case management, legal document templates, or even a legal advice chatbot. By addressing common problems or needs within your expertise, your app could provide valuable services while generating revenue from downloads, subscriptions, or in-app purchases.
Starting a mobile app business involves having a clear vision of what problem you want to solve or how you can offer value to users. You could hire a skilled developer if coding isn’t your forte, and focus on planning the user experience, designing user-friendly interfaces, and thoroughly testing your app to ensure it works flawlessly. Marketing your app effectively will be crucial to attract users and encourage downloads.
Given the growing reliance on mobile apps, your legal expertise combined with a well-developed app could meet a significant need, making it a viable and profitable side venture. With dedication and strategic planning, you could turn a creative idea into a successful source 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.
14. Make passive income with an AI writing tool ($255K/month)
As a lawyer, you could supplement your income and make extra money by developing an AI writing tool that leverages the latest advancements in technology. This digital tool, powered by Artificial Intelligence, could assist businesses, bloggers, and students in generating accurate and engaging content easily and efficiently.
Imagine providing a solution that simplifies the writing process, making it automated, error-free, and time-efficient. This innovation not only meets the increasing demand for quality content but also offers a significant advantage over traditional writing methods. Embarking on this venture could revolutionize content creation and positively impact productivity on a global scale.
How much you can make: $4,000 — $1,000,000/month
How long does it take to build: 52 days (?)
Rytr, a new AI writing assistant developed by a startup platform and business incubator, has become a market leader, serving over 300,000 customers across the world and doing seven figures in ARR.
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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.
