You may be familiar with the popular phrase “It takes money to make money“. In most cases, yes it does.
Most businesses require money to get started. Franchises can cost upwards of $100,000 to start. Network marketing companies (MLM’s) can cost anywhere from $40 to $700 to start.
Even starting a basic blog can cost money: web hosting fees, domain name purchase, etc.
However, unlike most businesses, an online business is one of the lowest cost ways to start a business that I know of.
So What Am I Selling Online?
Almost anything! This is because the online business I am referring to is called affiliate marketing. The best thing about affiliate marketing is that you do not have to buy inventory, ship any products, or deal with customer service.
If you view the graphic above, you see how simple the process is. You place affiliate links on your website, visitors click your affiliate links and if they buy anything, you make a commission.
How Much Does it Cost to Start an Affiliate Marketing Business?
It is low cost when compared to other online businesses you could start. If you were to sell physical items, you would need to buy the inventory (unless you dropshipped).
Affiliate marketing requires very little in terms of costs.
The primary costs include:
- Register a domain name (I use and recommend NameCheap) – $10.98
- Web hosting (I use and recommend Hostgator) – $80 to $100 a year
Where to Start if You are New to Affiliate Marketing
While the concept of starting an affiliate marketing website is simple, there are still many things that can be overwhelming if you are new to the process.
For example, how do you go about getting a website up and running? What should the topic of your website be (choosing a niche)?
How do you write content that gets visitors to convert into sales? How much content should you write? Which affiliate programs should you join?
The questions can go on and on when you are new to affiliate marketing. If you seek out your answers on the internet, you may be bombarded with various methods.
The problem with this is that you may find yourself so distracted that you never get anything done. I recommend learning affiliate marketing in one place.
There are many courses that you could use to accomplish the same thing. One such course is Wealthy Affiliate.
The best thing about using an online course such as Wealthy Affiliate is that all of your training is in one place.
It is especially beneficial when the course has been around for several years and has produced real results for its users.
Starting an online business is not out of reach. People from all walks of life and with zero experience have managed to create affiliate marketing websites that generate passive income month after month.
Most have also managed to do so under $200. You can go about building your first affiliate website on your own by researching everything and testing out different methods. That would keep you under the $200 start-up cost for sure.
You could save yourself time by taking an affiliate marketing course from a reputable company such as Wealthy Affiliate which includes your first two websites for free.
Either way, you would still start an online business on the cheap. Best of all, it is a business that can be quite lucrative with dedication and time.
What do you think about affiliate marketing?