People all over the Internet have all sorts of needs. Maybe they have a business they are trying to run or perhaps they are trying to get the word out about their business. They may need expert help for day to day issues they run into in their business. Whatever the case may be the internet exists in large part because people have all these questions that they need answers for. This is a tremendous opportunity because you can look for the most common problems people have and find specialists who can solve that problem. Your job is to simply become a middle man. You buy professional services at a very low rate and then turn around and resell it to people who need it at a much higher rate. The difference is of course you profit.
The first thing you need to do is figure out what kind of services you’re going to be reselling. As you can probably tell not everyone as the same needs. Some people have common needs and may expect to a little fee for these services. For example, there are lots of people out there looking to get a website designed. The problem is the services are so common that you really can’t expect people who need such services to pay top dollar for them. So you have to find a specific set of problems that people would pay a premium for. Here is a rule of thumb, the more specialised the solution, the more dollars you can charge for it. One key tool that would help determine the demand levels for certain types of services is the Google Keyword Planner tool. Or perhaps you could look on a website called Fiverr to gauge what sort of service people require. Once you filter out this information, you should then look for service providers for those types of issues. Then decide on your profit margin and then set up our own service website.
You can market you website via the search engines or using social media marketing. Once you get orders, you then turn around and then order the services from actual services providers on sites such as Fiverr.
The PROS Of Making Money Reselling Services
This business model is very scalable. You get to focus on the fun part: Marketing. You leave the actual execution of the work to a list of service providers that you have vetted thoroughly. It can be automated to a certain extent and can be quite passive. This best part is this type of service can yield a tremendous amount of money for very little effort depending on how specialised the services you are offering
The CONS of Making Money Reselling Services
The big disadvantage of the business model is niche selection. You really have to put in the time, effort and energy to pick out the right kind of service that people would pay a premium for. This is not obvious. It is not going to jump out of you and it isn’t going to fall on your laps. So the key is researching the niche thoroughly before you make a decision. You can shortcut your success by hiring virtual assistants from places like Fiverr.com to do all the legwork for you. Another disadvantage is once your own service website is set up you have to generate traffic to it so that you can get enquiries and orders. However, again this can be outsourced to your virtual assistant or perhaps engage one of your service providers to do this for you for a fee.