Making Money Reselling Products Online

There are hundreds of different ways to make money online, but making serious money online boils down to using the same principals as offline businesses follow. One of the oldest money making methods, which still works today, is to either buy cheap products and sell them at a higher price, or buy a product which can be sold over and over again, without any further investment. The trick comes with finding a product which one of these methods will work with, and finding the best way to maximize the profits.
Online, there are many products which meet these criteria; every day people sell products with the label resale rights or private label rights. These products can be bought once and then sold many times, meaning that you only need to sell each copy for a fraction of your purchase price, as long as you sell enough copies.
Often the term ‘resale rights’ is thrown around without thinking about the differences between the different types of resale rights. Resale rights can be roughly broken down into two categories:

Standard/Master Resale Rights

If the product which you purchase includes Standard Resale Rights, also known as Normal Resale Rights, this means that you are able to sell the product on to your customers, usually at the price of your choice. However, you are not permitted to allow your customer resale rights; only you have the authority to resell the product, and any copies which you sell to your customers are for personal use only. If your purchase of the product includes master resale rights however, this means that you are permitted to grant your customers resale rights when they purchase the product from you. With Standard or Master Resale Rights, you are not permitted to amend the product in any way, or claim that you are the creator of the product.

Private Label Rights

Private Label Rights grants the buyer the authority to amend the product in any way they like, and even pass the product off as being their own work. This means that as well as selling the product, they can also use the product in other ways, such as adding links to their website or adding affiliate links.

Marketing The Product

As with selling any product, success is largely defined by the strength of the marketing. Where you choose to sell the product is one of the most important factors; regardless of how good the product is, if it’s not being advertised in the right places then it simply won’t realize its full potential.
Market research is the key to combating this issue; looking at the various places where you can sell the product, and looking at how well similar products have sold. Researching this area can also help you to get a good idea of how much you can get away with charging. By researching the sales copies of similar products, you can usually judge how customers have reacted to each part of the sales copy, helping you to adjust your own sales letter accordingly.

The Benefits of Reselling Products

The main benefit of reselling a product is that you have a product ready for distribution without the usual hassle which goes along with product creation. This means that rather than spending your time creating the product, you can spend your time building and implementing a plan for marketing the product.
The other obvious benefit of selling these type of products is that because the product can be sold multiple times, the sale price is less important. When creating a product yourself, there can be several expenses which go into creating the product, as well as time, so the creator needs to ensure that their sales reach a certain level in order to start making a profit. When reselling these products there are generally far fewer expenses, so the “break even” point comes quicker.
People who are reselling the product generally sell it at a cheaper price than the original creator; this can often lead to skilled resellers actually selling more copies, and in some cases making more profit, than the original creator.

Which Products To Choose?

Profits can be made with any product which can be legally resold, however some types of products are easier to resell than others. eBooks for example are a simple product to resell, as you can just resell them as they are, or amend them slightly before selling. Similarly, packs of PLR articles can be sold on easily, and many people are happy to pay for articles which have only been sold to a handful of people.
Some Software comes with reselling rights, however this is a lot trickier to sell than eBooks or articles. While eBooks and articles can be used by anyone without any problems, selling Software generally requires some level of support to be available. In most cases the original developer is expected to provide the support to any customers, regardless of who sold the Software to them, however some customers will expect the person who they bought the Software from – in this case you – to help them.

Read The Small Print

It is important to check the terms and conditions of reselling any products, as the original creator can add some restrictions of how and where you’re allowed to sell their product. One common restriction is that you have to sell the product for a minimum price, usually the same price as the original creator is selling for, to prevent people undercutting their prices. Some product creators will also add a restriction on the number of copies which each person can resell, to try to avoid the marketplace becoming flooded with people selling thousands of cheap copies of the product.
Reselling products is an excellent way for beginners to get started making money online, especially those who are unable to create their own products. The introduction of sites like Fiverr have made it simple to profit from these products with very little hard work or investment.