Second Lesson – Buying and Selling PLR
It’s time for your second lesson in the Buying and Selling PLR Crash Course. I hope you found lesson one informative. In this lesson, we are going to go over some simple tips for buying PLR products.
As we discussed in your last lesson, when you buy PLR products, you not only get the product, but you get certain rights too. Most buyers edit (re-brand) and sell the products they buy for a profit. Some have literally made thousands of dollars just from one product and there is no reason why you can’t do the same, once you know how.
First, don’t buy the first PLR product you come across. Don’t automatically choose the first seller you find with a standard search online. Look around. Yes, the first website you visit may have a pack of 25 articles available on a topic that interests you for sale for $25, but chances are you could easily find at least 10 other websites selling similar packages.
How you make money depends on the product and your personal preferences. Regardless, the more products that you buy and re-brand, the more money you’ll make. For that reason, buy in bulk or make use of a monthly subscription service. Furthermore, it’s easier and quicker to turn a profit when you limit your initial investments.
You want to spend your money wisely. This involves buying well-written articles, ebooks, good quality video, audio and software products. Just keep in mind that you want to turn a profit too, so take the time to calculate your profit margin as we discussed in your first lesson. For example, you don’t want to spend three hundred dollars on a piece of software that you are going to give away as a lead generator. You will need to know exactly how many copies that you must sell to make a return on your investment.
Pay attention to the product license. Don’t buy products with many restrictions. While all PLR may grant you the ability to edit and claim the product as your own, some sellers place additional rules and restrictions. For instance, you may only be allowed to use it as your own content and not allowed to sell it or you may be able to sell it to interested buyers, but pass along the same rights to other resellers.
Always remember your goal is to make money. It’s easy to get caught up in the buying process once you start shopping. You’ll get millions of ideas, so resist the urge to 100 ebooks right off the bat. You can only work on one project at a time, while the others may sit on your hard drive. It’s a good idea to limit your startup investment. This way you’ll see a return on your investment faster.
That’s it for today’s lesson. In your next lesson, we will be talking about the importance of editing and re-branding the PLR you buy.