The current state of the global economy has meant that the income generated by many pension plans is not as high as might have been originally anticipated. In addition monthly outgoings may be higher than planned as food, fuel and transport costs continue to rise. This leaves many pensioners finding that they require a monthly ‘top-up’ to their retirement income just to make ends meet.
One solution is to return to work, even part-time, but as this defeats the whole object of retirement the trick is to find something to do which does not seem like work at all. Anything which involves having to get up at the crack of dawn or engage in back-breaking manual labor should be ruled out from the word go. However something which can be done from your own home and at the hours that suit you best seems the ideal way to go.
Getting to sell other people’s products – totally legally – and being allowed to keep all the profits from the sales is one potentially winning solution which almost anyone can do. You need a computer and an internet connection and once you have familiarized yourself with the world of private label rights (PLR) products, an enjoyable way to boost your income could be just around the corner.
Don’t worry if you have not heard of the term PLR before as it is a simple enough concept to understand. Many people are good at designing products such as software programs or self-help e-books but may have no desire to sell these for themselves.
While these people love designing, they also need money to make a living so they allow others to sell their products instead. The product developer grants a “license to sell” to a third party who then gets to keep all the profit from selling the product in question. This PLR licence will typically cost a few hundred dollars to obtain but actual costs can vary widely depending on the product in question.
The developer makes his money by selling several PLR licences for the product he has created so it is in his best interests to come up with high-quality products which will sell well and make money for those who purchase a licence from him. This is good for a retired person wanting to make some regular income because everything can be done from home. Perhaps the hardest part of the whole process is making the initial choice of what to invest in and sell in the first place, and just as importantly, knowing what products to reject. The key is to have the discipline to thoroughly research your product in advance so you only buy items which are likely to make you money.
Assuming you are not foolish enough to simply hand over your cash to the owner of the very first PLR product which you stumble across then this business is well worth investigating further. The most basic concept to understand is that you are actually purchasing the right to be able to sell the PLR product in question to others and you must comply with all terms and conditions which the product developer stipulates.
Typical licence conditions may include whether or not you are allowed to rename the product, change the cover artwork or even claim the product as your own. There may be restrictions concerning where you can sell the product, at what price range it can be sold and even whether you can it away as a free bonus. Some licences state that the product cannot be sold on eBay, some say they cannot be sold in the USA while others may say they must only be sold in the USA so it is vital that you understand the limitations of licence you are buying from the very start.
Once you have found something you want to sell, with the licencing restrictions which suit your marketing plans, then you are ready to hand over your money and get to work on the business of selling.
You will almost certainly need a website from which to sell the product and this will contain a method for purchasers to buy the item, such as an online shopping cart. Most PLR products are digital products so there is no stock to process or send out. When your customer’s payment goes through they are given a link to download the product and you have nothing more to do. Once set up correctly the shopping cart processes the payment, gives the customer the download link and notifies you that a sale has been made.
Finally you will not need to be a internet expert to get your website up and running as there are hundreds of freelance designers out there who will build your website for you at very low cost. You may also find that your PLR product even comes with a sample web page and sales copy, leaving you with even less work to do to get started. You will need to pay for a domain name and web-hosting but if you have done your homework and chosen your PLR product wisely then it should not take too long before you are making money online.