Obtain the Rights to a Product With Little to No Money Upfront
Let’s say you come across a great product that you think will be a big seller. You could obtain the rights to market that product – and then license those rights to an experienced marketing company.
Doing this can be very profitable.
The trick to making a really sweet deal is to convince the owner of the product to agree to a strictly back-end deal – where he shares in the eventual profits instead of getting an upfront payment from you. Product owners are sometimes reluctant to do this. But there’s another way for you to minimize your out-of-pocket: You can offer to option to buy his rights.
Let’s say you’re introduced to a guy who has invented a wind turbine that can generate enough electricity to supply 40 percent of the average home’s energy needs. Better yet, it can be sold inexpensively – maybe for a thousand dollars.
The inventor wants $50,000 for his rights (which is reasonable), and is not willing to negotiate a strictly back-end deal. But you’re very confident that this product will be a big seller. So you tell him that you’re willing to pay $50,000, but you need a little time to raise the money.
You offer, instead, to option to buy the rights for $100 against the purchase price of $50,000 within one year. If the owner is uncomfortable with such a long option – and you think you can resell those rights sooner – you can make the terms shorter. Once you have the rights, you resell them to a marketing company for at least $50,000 and a share of the profits they’ll make on the turbine.
If you can get more than $50,000 from the marketing company, you’ll pocket some money immediately (after paying off the owner). If not – assuming you were right about how well the product would sell – you still stand to rake in plenty down the road.
[Ed. Note: Acquiring and then marketing the rights to products is one way to make a lot of money without having to invest much capital. Paul Lawrence reveals his detailed strategies for making money with this business opportunity in his “Getting Rich With Rights” program. Get the details here.]Paul Lawrence
Paul Lawrence is an entrepreneur who has made his living starting and running a series of profitable businesses. One day while cleaning his mother's pool for a few extra bucks, it dawned on Paul that he could perhaps start his own pool cleaning business. He carefully employed all the marketing techniques that he had learned in school and designed his first flyer. Immediately the business took off and within a week, Paul had his own little business. He quickly expanded, hired employees and then eventually sold it some relatives who made well over $250,000 in the next year before they eventually sold it for a six figure profit. After finishing college, Paul did a brief stint in a management program for a national rental company, but he quickly realized that he was much happier running his own show. Paul left the rental company and launched one of the most financially successful independent ballroom dance instruction companies in the state of Florida where he received quite a bit of media attention for his revolutionary business practices that included front page features in the Life Style section of the Sun Sentinel, features in the Miami Herald, Boca News, Center Stage Entertainment and many others. With that business running profitably, Paul started several other businesses either individually or as partnerships that included a million dollar video production company, a mortgage brokerage, a home maintenance business, several mail order companies, a business consulting service among others.With a love of movies, Paul began to work at breaking into Hollywood as a screenwriter where he's beaten the odds by becoming a produced writer. He is a credited writer for the film CRUEL WORLD, starring Jaime Presley and Eddie Furlong and has signed a development deal for a national television series with one of the world's largest producers of television and films among his half a dozen sales and options of movie scripts he wrote. Paul is the creator of the Quick & Easy Microbusiness program.