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7 Ways To Profit From Other Peoples Products
If you don't possess the time, money or inclination to create your own hot selling product there is plenty of scope for profit by using other people's.
In this quick article I'll detail the best ways to take a third-party product and use it to fill your own bank account.
1. Resell Rights
Resell Rights let you sell a product and keep all of the money. It's an ideal way to start. Usually you'll need your own payment system to accept the money and your own webspace to sell it - but that's very cheap to do these days.
Resell Rights can be free, or cost anywhere up to $1000 and beyond. The free Resell Rights are usually not worth bothering with. You want to sell items that have LIMITED distribution - quite simply because you'll have less competition!
2. Master Resell Rights
Unfortunately these are bad news. With the Master Rights you can pass on Resell Rights yourself. This means one thing - thousands of competitors in a very short time.
3. Reprint Rights
These are sometimes confused with Resell Rights but they are usually used to describe hard-copy material. For example, printed books, tape sets, CD's or Videos.
You usually have to handle the duplication yourself but sometimes the company will provide copies, and even ship them for you, for a small fee.
These products usually cost more to acquire the rights but can be very profitable. As the old saying goes, it's easier to sell 10 copies at $1000 each than it is to sell 1000 at $10.
4. Affiliate Programs
When you enter into an affiliate agreement you are sharing the cost and effort of promoting a product. You will take a percentage of the sales in exchange, so you want at least 50% for it to be worth your while.
With an affiliate program you can usually join at no cost, but will make less money - and have more competitors!
One other advantage, the company provides the site and the collection of payments. All you do is promote and cash your check.
5. Drop Shipping
This makes the traditional form of selling easier for the information age. Profit = Cost - Selling Price , and with a Drop Shipper you merely take the money from your customer and tell the shipper to send them the product. You then pay the shipper their price. For example, you can buy a Widescreen TV for $1299 but you are selling it for $1499. You make $200 per sale but never get involved in the distribution at all.
This method is used extensively on eBay and in online shopping malls.
6. Joint Ventures
These blur the line between the other processors. Basically, you connect those who make products with those who sell and promote them. You can acquire resell rights, or create your own product, or be part of an affiliate network. You then contact possible sellers, for example Ezine Owners, who may be interested in selling the product for a cut of the profit.
This way you can connect BIG sellers with BIG products and slice of some of the profit for yourself!
7. Branding Rights
These can be combined with Resell Rights but sometimes are offered as an extra. With Branding Rights you can make some or all of the links within a product possible money-spinners for yourself.
For example, you can take a book on copywriting and give it away, or sell it. But within this book are other links to further services, all that could make extra back-end sales for you.
As you can see there are plenty of ways to make money WITHOUT the expense of time of building your own product!
by Stuart Reid
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