This may sound too good to be true…. But it is TRUE!
Truth be told. Creating a business around a paid membership is one of the most lucrative ways to make money in this day and age.
Watch this short video
I remember back in the day, just 8 to 10 years ago when I wanted to learn new faux finishing techniques I had to pay anywhere from $500 -$1000 to take a class then book a flight out of state to attend in person, pay for a hotel and take a week off work.
It would cost me time away from work and thousands of dollars to learn new techniques and products to keep on the cutting edge of my business.
Thanks to modern technology and the internet, I can learn whatever I want from the comfort of my own home.
Today there are hundreds of experts in my field that offer courses online with paid memberships that teach me what I want to learn at a monthly rate. Of course, the fees vary depending on what it is you’re learning but it’s also convenient and saves me a ton of money.
If you have a business or a talent that you could share with others this is one of the best ways to create a lucrative business and make a residual income.
Related post: How to Make Money with Affiliate Marketing
Having a paid membership is not just for the DIYer’s. This is a great business model for just about any business.
Think about this. You teach one topic to a group of people one time (each month is a different topic) and reach people all over the world.
Let’s just say you’re a cake decorator (insert what you would teach). Each month you teach something different. Your membership is $27 a month and you have 100 students sign up for your class, you could be making $2,700 each month.
And let’s say 10 people join your group each month. At the end of one physical year, you now have another 120 students in your group. Let’s do the math…220 students x $27 has grown to $5,940 a MONTH. WOW!
I’m in two paid membership groups one charges $47 a month and has 1800 students in it. The other one charges $37 a month and has 597 students in it. Do the math. Cha-Ching
Are you getting the big picture?
If you have a trade, passion, or hobby then you have an opportunity to create a residual income no matter what it is you do.
I know what you’re thinking. (because I hear this all the time!)
• There are already people doing what I do.
• I love to knit, and no one does that anymore.
• They can buy what I do in the store.
• They can learn how to do it on YouTube.
All is true. But not everyone is going to want to buy it in the store, they want to learn how to make it and learn how to make or do what you have experience with.
Yes, there might be others that are doing it, which means there is a market for it.
If you love to knit or macramé there are people that want to learn your trade.
Sure, you can research YouTube and the internet but that doesn’t mean that they are an expert in what they do. Believe me I have seen people on YouTube teaching faux finishes and they had no idea what they were doing.
The possibilities are endless. If you want to learn more about how to start a paid membership get on the waitlist.
While you’re waiting for Empowering Women to open (it’s opening very soon) join my FREE FB group Ask Cheryl Phan and be part of a community of like-minded women.
I hope you enjoyed this and found some inspiration.
You can get my weekly blog HERE.
See Ya on the inside!