Other People`s Products Can Make You Rich

While selling your own proprietary products and services has a number of advantages, it also has a number of disadvantages. For instance, the time and investment required to create your own book, invention, or other product may result in a lengthy delay in receiving the profits and cashflow necessary for your business’s survival.

As a result, you may choose to sell other people’s products and services, either exclusively or in addition to your own.

You could stock an entire retail store, acquire a franchise or another business, or secure a distributorship or dealership. This, however, may require a sizable financial investment.

Thus, here are a few low-cost methods for profiting from the sale of other people’s products and services.

1. Sales on commission

As a sales representative or agent for a business, you will sell their products or services in exchange for a percentage of the sale price.

Numerous businesses on the Internet offer associate or affiliate program through which you can earn commissions when you sell their products and services. Occasionally, you can even profit from the efforts of other affiliates who join via your website.

Thus, without their own product, some individuals earn their sole but sizable income through affiliate program.

2. Sales on Consignment

You can sell other people’s products on consignment, earning a commission when the item is sold. Numerous thrift stores, arts and crafts shops, and other retailers operate in this manner.

Additionally, you can sell other people’s products via Internet auction sites such as eBay or Yahoo! Auctions.

3. Direct Shipment

You could purchase inventory at a discount and attempt to sell it retail, but what if it does not sell? Even if you do sell, are you sure you want that much money locked up in stock? For these reasons, many businesses choose to conduct business via drop shipping.

You can arrange to sell an item prior to purchasing it from your home, retail store, directly from your website, or through an online auction. This way, you will have no investment in inventory and will avoid being stuck with unsold stock.

As an example, suppose you recently sold a product to a customer for $100.00 plus $15.00 in shipping charges. After receiving payment from the customer, you must email or fax your order to your drop ship supplier. You must pay your supplier the $50.00 cost plus $15.00 shipping, which leaves you with a $50.00 gross profit. The product will now be shipped to your customer by your supplier.

4. Fees for Locators

Are you aware that you can earn commissions simply by connecting buyers and sellers?

For instance, a mining company may require difficult-to-obtain equipment for its operations. You might be able to negotiate a percentage finder’s fee in exchange for locating this equipment for them.

On the other hand, you may be able to earn a finder’s fee from a company that is attempting to sell surplus machinery but is having difficulty finding a buyer.

5. Cooperative ventures

Joint ventures can be lucrative. For instance, you could agree to feature another company’s product in your e-zine or newsletter in exchange for a commission, even if the company does not currently offer an affiliate program.

The preceding list of low-cost methods for profiting from the products and services of others is by no means exhaustive. However, it demonstrates that, with sufficient effort, other people’s products can make you wealthy.