I’ve recently been studying a Facebook group called Digital Products Buy & Sell.
This is a group where people buy and sell digital products, obviously.
What I find interesting about this group is how many people are creating their own digital products and are making a decent amount of money from them.
I’ve been saying it for a while now; digital products are a great way to make money.
You can sell them directly to people via your website and/or the many platforms available such as Gumroad, or you can sell them to sellers who can then sell them directly to other people.
Or both… sell them directly to customers and to other digital product sellers.
Selling products with Private Label Rights (PLR) and Master Resale Rights is nothing new; a lot of people have made a lot of money creating products to sell to sellers.
I have done it, as have many of our friends in the industry.
It is a great way to make money from a publisher’s point of view, and it is a great way for a seller to make money too.
Sellers love to buy the rights and licenses to products because it means that they have something to sell right away.
It means that they do not need to make products of their own which can be very time-consuming and costly.
When I say costly, a digital eBook may cost nothing to make if you do everything yourself, including the cover – which can be a costly mistake as a bad cover can prevent people from buying, but you can miss out on a lot of profit if you spend weeks or months creating it.
When you buy a digital product to sell, you can have it online ready to sell in a matter of minutes.
If you have a large enough following or email list, you could have sold several copies and had money rolling in by the end of the day.
If you have the rights to change the product, you can modify it so that it is your own unique product and still have the product online by the end of the day.
When you create a product of your own, it can take days, weeks, and even months depending on what the product is about.
Buying products to sell means that you have something to sell that can start earning money fast.
Think of your local supermarket where you pop for a tin of baked beans, pack of bacon, sausages, eggs, and bread whenever you fancy a full English for breakfast…
Do they make all the products they sell?
No, they don’t, they buy the products they sell onto their customers.
Yes, as the supermarkets grew they began to sell their own range of products, but they still bought those in from the producers and suppliers. They just paid to have them rebranded.
You could say that supermarket own brands are technically Master Resale Rights products that they have branded as their own.
They approached companies that produced baked beans and paid them to supply them with their own slightly different tasting variation.
Those beans are then put into tins and a supermarket label stuck to them.
What they don’t do is:
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- Buy fields, plant and harvest a load of beans.
- Hire people to work on the farm.
- Buy a load of lorries to take the beans to a factory.
- Hire a load of lorry drivers.
- Build a large factory and equip it with bean baking machinery.
- Hire a workforce to bake the beans.
- Build a large cannery making tins for the beans.
- Hire staff to work in the canning factory.
- Build a smelting factory to make the metal that is then delivered to the canning factory.
- Hire staff for the smelting factory.
- Buy another set of lorries and hire more drivers to deliver the metal to the cannery.
- Build a large factory and equip it with printing equipment to make labels.
- Hire designers and staff to work in the printing factory.
- Build a paper mill that….
That’s enough, now!
You know what I am saying here.
They themselves do not produce the products they sell.
Samsung and Apple don’t make the products themselves.
Yes, these products are their own products they have developed and designed them in-house, but they outsource the production to other companies and suppliers.
So, with that in mind… does it not make sense to actually buy digital products to sell instead of making your own?
I think it does.
Investing in digital products is no different to investing in any other product.
The only big difference between digital products and physical products is that you can easily modify digital products to be your own if you buy the right license.
You can change the cover, change the name, and add your name as the product creator.
That’s a win-win situation if you are concerned that the product you buy to sell is the same as what other people are selling.
You will have your own product to sell but you didn’t have to go through the hassle of making it.
Although, I do find it strange that some people are concerned that they are selling the same products as other people.
I mean, think about it, many different supermarkets sell the same products.
Different book shops would sell the same books.
Different music stores would sell the same CDs and records when they were popular.
You can even buy the same eBooks from Amazon, Barnes & Noble, Google, and many other websites.
The point I am trying to make here is that for a fraction of the cost in both time and money it takes to create your own digital products, you can buy some to sell and have them online making sales by the end of the day.
Let’s say that you purchased an eBook for £97 that you can sell for £9.97.
You only need to sell 10 copies of that book to make your money back, and once you have made your investment back, everything else after that is pure profit.
Plus, you will have an eBook to sell for many years after.
Doesn’t that sound good to you?
If it does, then watch this space as I have some exciting news coming soon.
Kind Regards.
John Harrison.
- On the subject of digital products, I have just released this exclusive report about creating your own Packaged Coaching Course that you can sell for £500 or more.
Go and read that report here:
Create Your Own £500+ Online Coaching Course
