When it comes to passive income opportunities it’s smart to never put all your eggs in the same basket as things happen and you may just find your passive income opportunity is no longer available to you. For example, if you write for a site like eHow, what would you do if they closed their writer’s program or they decided to sell their website? Or if you have niche sites that all make money from Adsense what happens if for some reason your Adsense account gets taken away (it has happened to several people for no reason or for a mistake that they did)? Would you still be able to survive if one of your passive income streams were taken away tomorrow?
This is why I think it is so important to diversify and not solely count on one specific passive income stream for all your earnings. So, here is one more of the many passive income opportunities that you can consider adding to your business.
**See my original post on passive income opportunities for 3 other ways to create passive income**
The Basics of Selling PLR (Private Label Rights) Articles and Products
PLR or private label rights products are mostly articles or eBooks that people write then sell for a very cheap price to people. The thing about PLR is that the people who buy the articles can do what they want with them such as rewrite them or simply take them and put them on their website. Depending on the specific rights that come with the PLR some of the products such as eBooks can be sold or given away to subscribers.
Creating a Passive Income with PLR Products
So, how do you make passive income with PLR? Selling PLR will take quite a bit of work to begin with but there is a way to turn it into a passive income opportunity. Set up a website where you can sell your PLR products. If you are a writer you can try your hand at writing all the PLR articles yourself or you can find a way to outsource some of the writing to others. Put together packages of 10 articles on the same topic such as “Training Your Dog” or “Weddings.” Don’t make the topics too specific because you may find that you can’t come up with 10 articles on that topic and less people may be interested in them. You can also write a 25 page eBook and sell that as PLR as well.
The way that you make some excellent passive income off selling PLR is to sell several packages of the articles or copies of the eBooks. If you have 10 articles in a package you can choose to sell the package from anywhere from $4.99 – $14.99. The price will depend on how many packages you are going to sell. If you are only going to sell 25 packages then you may want to price them a little higher. On the other hand if you are going to sell 200 packages you can sell it for $4.99. Now, I am not the best at math but if you sell a package of 10 PLR articles for $9.99 and you decide you are going to sell 100 packs that is $999 or $99.90 an article. I would say that was pretty decent income!
The key to creating passive income selling PLR is to get a pretty decent amount of PLR written before you even start advertising your website. Be sure that you have article packs and eBooks on popular topics that Internet marketers are going to be looking for. Then, start building traffic to your website and advertising it. Be sure that the products can be delivered through an automatic system so that you don’t have to worry about that. Once you start getting traffic you will find that you will be making sales and you really don’t have to do anything else if you don’t want to. If you want to continue to add more articles and products to your website, simply outsource the writing with the money you are already making. You can also outsource the administrative part as well and simply sit back and allow others to do the work as you watch over the money coming in.
The thing that you have to realize is that all of the passive income opportunities out there are going to take work. You can’t make money unless you put in the effort, but think about how much it is going to be worth it when you can take a vacation for 2 weeks and not have to worry about money still coming in. Or instead of working 40 hours a work you only have to work 5 hours a week to maintain your passive income.
Selling PLR products is definitely a passive income stream that you want to make sure you have planned out before you even start it. It will require a laid-out business plan and plenty of hours of your time if you are going to make it successful, but it is definitely doable.
If you are serous about selling PLR products I recommend that you look around at some of the PLR websites that are out there already to see what they are doing and to see if it looks like something you may be interested in.
