Should You Sell a White Labeled Product?

MVP

Automatic TRANSCRIPT

A few years ago. White little products were very very well known a very popular in low and products like an e book or even a video. Course you could buy a white label course on how to use word we're press and you can rebrand this course and sell it on your own site. But today there are higher end products bigger businesses software products that you can buy I as a white label product rebranded and Silla as your own product. Now for many people this is actually a really good fit. Because they're like I like to market select to find good solutions for my customers and I got a really strong following. got a really good sense of brand. But I don't want to deal with the headaches of building a product or maintaining it or or inventing something new that are not sure it's GonNa work or not so many people will go into the white label business. But today ONA outline the pros and the cons to starting a white label business or product. Let's start with the pros number. One there is very low overhead when you're selling a white label product often the product itself. If you're going to buy outright is not too expensive in terms of an investment if you decide to sell a white label software often it costs nothing to get started or maybe very little and in the ongoing fees depending on what packages your customers by are quite reasonable. So you're you really must paying for a law so in the software example you're not paying for server spacer employees or developers or any of this stuff. This business creates the product maintains the product keeps it running and you resell it under your name so really all your expenses is really to sell this product to market it. There's some other expenses we'll talk about but overall the overhead costs Are Pretty low at a comes to a white label product. Second pro product. Business is very quick to start. It's very easy to get started. It's very fast. Some white label products even come with marketing materials. A website template so you can build your storefront. You're not actually creating the product doc. So that's GONNA save you a ton of time so like theoretically you can launch very successful White label product or by product business in a matter weeks so if you're itching to get started with a business this is a good one because then take long to launch it. The third pro is I believe white little products. If they're good good products are a great way to get an MVP under your belt a minimum viable product. If you're interested in getting into a genre type type of business the so you want to start selling information products. It's really quick and easy way for you to validate. Do you WANNA be in this business. Is this something you WanNa do. Does my audience want this type. Of course this is problem exists. I'm trying to solve the problem. Doesn't exist in the first place if you're going with a white label Software this allows allows you to understand what selling softwares like or having a software business with actually starting from scratch so is a great way to get your feet wet in business and have minimal. Viable product really really quickly. The thing is is that you can always start with a while ago product and then change into a product. You critter yourself you still own the users you still have that list when you have customers that save for example you're selling a little product and you have five hundred customers that bought that that That product you may want to upgrade that product Arctic to something that you created yourself down the line after you've said Yep I love this kind of business is a great business. I want to build something for my own. You can always do that version. Two is your own thing. It's the oil product anymore. All right those are the pros. Let's talk about the cons number one most white little products that do not come with support so if your customers have an issue issue with the product of a question you need to build your own support team. This means your support team or you. Who's going to be doing? The support needs to contact hacked the owner of this product. The whiteley will the parent product. When there's a problem that they need to fix a bug or an issue or mistake if you can't fix if you can help the customer directly directly like user error you're going to need to get in contact with that company and if their support is responsive it's going to be a chain reaction in in terms of delays so if it takes a couple of days for them to get back to you then you're gonNA have to get back to them and get back to the customer all that kind of stuff right so it's a little touch and go with supports? That's why it's so important to get a solid product if you're going to white label because you're GonNa have to support these customers. The customers don't know the parent company. They know you your brand. They bought it from you so they need support for number two. You don't own the IP right. You don't own the intellectual property of the actual product most white label products. Don't give up the IP meaning that if one day you WANNA sell your business the actual software or the actual product is not really for sale. Because you're being licensed to use it the business around it. Yeah you can sell the systems and the customers and all that kind of stuff you know the user base the revenue. You're making that's all by Your Business. The actual intellectual property is not yours because it belongs to the company releasing from in the third one which is probably the biggest challenge is you can't change the product you can improve it you can add to it like say for example you have a course product or a content product. You can add videos you can shoot that yourself or you can add live calls But say for example as a software product. You can't add features to this offer. Only the people that actually run the software the the the parent company can do that if we go back to the subway sandwiches sandwiches a metaphor subway gives you a menu. These are the type of sandwiches you're going to create here the ingredients. You can't just invent your own sandwiches are selling it. That's against their policies and that's not a subway sandwich so some people might think is not big deal. I don't need to do an extra work. Why would I want to do that? While you're GONNA get customers emailing support asking for a feature asking for for an upgrade asking for a change of Ui and you're going to have to just say thanks for the suggestion and you really can't tell them a time line or anything like that. We can't make any promises. Mrs Of changes. Because you don't know will be changed. You can make a suggestion to the parent company to the parent product owner but there are no promises. You're not the person that invented this product or created. This product owns products. That you really can't change the product itself. Now do I think white label products are good idea. I do think there are good idea. Actually think they're a good business business model if you're looking for to start your first or second or third business you're looking to make some revenue looking to make some money you want to you know maybe Learn on the job and learn in how to be a successful entrepreneur. And you don't want to deal with so many spinning plates you just want to deal with the sales and marketing side. This is a good idea. I do say you have have to find a really good product product solid. That's well known that's Tested that works. Well that has results because this is going to save you a lot of headaches and the long term You want a product where the team is very sponsors. You can ask questions and get help for your

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