Paid membership sites are one of the leading business models online today. This is mainly due to the fact that paid membership sites offers more advantages compare to other type of business. What are these advantages you ask? Well, there are three basic advantages and one is the steady stream of income.
With paid membership site you can have the steady income of a CEO but without the tedious responsibilities that comes with it. You see, subscriptions to paid membership sites are set up for a certain amount of time usually about by month or by year. So for instance you have a hundred people subscribe to your site for $20 a month. That would give you a steady cash flow of $2,000 for months to come, so long as your members remain satisfied and subscribe to your site. In a year you could make $24,000. That is more than the annual income of some people with normal office jobs.
Another advantage to having your own paid membership site is that the start-up cost is considerably low. Compare to other business, paid membership sites only requires a low capital. All you need to start up your site is a website design or template, a website host, a content management software or membership software (this includes all that you will need with the exception of the content itself) and of course the content. Most of which, you can do yourself to eliminate cost. As for the cost associated with website hosting services, they are very affordable with some as low a $5 a month.
The third advantage is actually the combination of the first and second advantage — high profit margin. The profit potential gained from paid membership site is unlimited. The actual amount of profit you gain would depend on how much time and effort you devote to your site. So if you are looking for a business that could provide you with steady income at a low start up cost then paid membership site is the one for you.
What’s great about starting your own paid membership site is that you are in control. You choose what kind of site you want to start up and how much to charge for it. It can either provide mentoring or coaching, or contain articles or information about various subjects. You can even offer some sort of specialized service like social networks. It’s all up to you! Just remember that your main goal is charge people before giving them access to your website.
So how would you get people to pay just to gain access to your website? Well, the key here is “specialized”. May it be information, product, coaching, or service it needs to be specialized. Why? Because these are hard to come by and would be too time consuming if it were to be done on your own.
When the Internet first came into being no one thought to charge for access to a website since just about every piece of information can easily be obtained for free. However, times have change. Not everyone has the time to devote to looking through endless pages of results just to gain a certain piece of information. So what do they do? They pay for it! Consumers nowadays are willing to pay for the information they need without the hassle of going through pages and pages of information. And that is one reason why it is the perfect time to begin your own paid membership site, the demand is high!
Now, how do you start your own paid membership site successfully? Well, the first step is to choose a topic. This is the critical stage, since it will decide the future of your business. So make sure that your topic is either in high demand or at least interesting enough to catch the attention of consumers.
A good place to start is within your own world. Ask your friends and family members for advice. It might also be a good idea to find a topic that you are passionate about and what would interest others. Since you will be spending most of your time working on your site, why not choose a topic that you can enjoy?
The next step is to creating a niche. You cannot start a paid membership site for the profits alone. You need to target your market and in order to do that; you need to find a niche that will target those who are looking for what your website is offering.
Make sure that your niche is fresh and innovative, but most importantly that it is not being offered for free on the Internet anywhere. This might proved to be a challenge but it is not an impossible feat.
Once you have your niche, next is you need to find prospects. This one is easier to accomplish and can be done for free. All you have to do is post offers on various message boards or forums. Just make sure that your posts can easily be seen by your target consumers. Interested prospects can easily reach you by simply using the private message feature right on the forum.
The next step is to set up your site. There are many tools available that can help you build and maintain your own paid membership site. You have the option whether to leave the website creation to 3rd party services at a very affordable cost or to simply do it yourself.
Another idea is to avail of one of those all-in-one membership management software systems. This will get your website started in no time at all, even if you do not have the technical knowledge, since most of its administrative features are automaton. These membership software programs will reduce your workload by 75%, it’s easier and faster!
So you already have your topic, niche, prospects and site. The next step is to decide how much to charge. This will depend on what your site have to offer, whether it’s worth paying for access or if it can be found somewhere else at less cost. Most paid membership sites charge anywhere from $19.95 to $69.95 a month. Whatever you decide remember that your product or service has to be worth its price. Otherwise, your customers will not continue subscribing to your site.
All across the globe, people are enjoying the large amounts of profits gain from their own paid membership site all of which are comes in regular basis and earned from the comfort and convenience of their own home. So do not be left behind! Start making money online with your own paid membership site.
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