Still trying to figure out what kind of home business to start with? There are tons of things you could do, like making crafts, editing written pieces, or selling things online.
Those could all make you a little money, but there’s something even better you could sell. I’m talking about the MOST profitable type of product you could sell from your home…
If you want to kickstart your home business, consider selling something everyone wants, something you can price yourself, and it doesn’t cost much to make…
In my opinion, there’s only one thing that can be called “the best” when it comes to having a product to sell in the real world, and it’s based on real, tested data.
The product I’m talk about is information.
That’s right, I’m not talking about selling clothes, or cars, or toys.
Think about one of the most profitable industries today… the news.
Their business model is a little different that what I’m suggesting. They’re simply giving out information for free and making money off selling advertising. But it still represents the power of information nicely.
I’ve been in this game for decades and trust me when I say information is the product that beats ALL others when you’re the one doing the selling. Why? Because it ticks all these boxes…
- HUGE profit margin
- Low cost of production
- Easy, cost-effective delivery
- Can be created in no time with the right tools
While it might cost you $8 to manufacture each individual sweater that you plan to sell for $15, it costs you next to nothing to create an information product.
AND you’ll be selling it digitally, which means all you do is send it through email, which is MUCH cheaper than shipping that sweater you made across the country through the mail.
Plus, sweaters like the one you’d have to manufacture generally go for $30 to $35, so you don’t have a lot of room to increase those profit margins.
With information products, there normally isn’t a “going rate”, so you have more freedom on how much to charge. As long as people are buying it, that’s what it’s worth.
So when you can set the price you want, don’t have to worry about manufacturing costs, and don’t have to worry about shipping costs, the profit margins are huge – sometimes nearly 100%!
And while it may take 2 weeks to get 200 sweaters made for you, it only takes about a week to create that information product. And you start profiting right away because it can be copied digitally instantly!
So if you’re ready to start your own business and become a successful entrepreneur, think about selling information. It’s the most profitable type of product you’ll find.
