Build a million-dollar business for $99 a month.
Part of the allure of some online businesses is that they can be started up and operated for very little capital. You need the online real estate (domain name), software platform (WordPress), and your imagination. One of the easiest and cheapest ways to get into business for yourself is through affiliate marketing.
Not sure what affiliate marketing is? Check out my article here.
Can you build a million-dollar affiliate marketing business for $99 a month?
There are several different turn-key platforms for affiliate marketers out there. Still, the most complete has to be Wealthy Affiliate. With Wealthy Affiliate, you have everything in one place: training, hosting, domain registration, keyword research, domain research, affiliate programs, and more.
I currently use their premium plan and have an enterprise plan for keyword research on their Jaaxy Keyword research platform. You can read both my Wealthy Affiliate and Jaaxy product reviews for more detail. Everything you need to start and run your online affiliate marketing business is in one place on Wealthy Affiliate.
Let's take a look at the cost to run 25 affiliate marketing websites with the Wealthy Affiliate Premium plan and Jaaxy Enterprise:
A domain name is your business's address on the internet. It is a piece of digital real estate where you build your business. The domain should be a top-level domain (.com is the best) and be something that can be grown into a brand and trademarked.
Namecheap (another domain registrar) has a great business name generator that you can try out here.
Alternatively, visit my article on domain names to learn more about how I research and purchase “brand-able” domain names for my online businesses and domain portfolio.
As far as registering a domain name, there are a couple of ways to go here.
If you go with GoDaddy's Discount Domain Club (what I use), the cost is $8.29 per year per domain. With 25 domain names, that is $207.25 per year or $17.27 per month. The Discount Domain Membership costs $119.88 per year and brings the total up to $327.13 per year or $27.26 per month. The Discount Domain Club works for me as my other businesses include premium domain name sales and branded domain name sales, and I may have over 500 domain names in the portfolio at one time.
If you are not considering getting into domain name investing, staying on the Wealthy Affiliate Platform, and registering your domains there makes more sense. Domains cost $12.99 to register per year but include domain name privacy (not included with GoDaddy registration and costs $9.99 per domain per year more). Having privacy added is an excellent option for individuals that don't have a corporation already set up. Twenty-five domains registered with Wealthy Affiliate is $324.75 a year, or $27.06 per month.
So, where do we stand cost-wise?
Wealthy Affiliate Premium Annual Subscription
Jaaxy Enterprise Annual Subscription
Domain Registration 25 Domain Names (Wealthy Affiliate)
Can you build a million-dollar business with affiliate marketing?
Successful affiliate marketing websites can bring in $100,000+ per month and have sold for millions of dollars to larger companies, eager to capitalize on their audiences. According to Statistica, US affiliate marketing spend is expected to reach 8.2 billion dollars per year, up from 5.4 billion recorded in 2017.
Awin, one of the largest global affiliate marketing networks, generated over 15 BILLION in revenue for its advertisers, paying over 714 million to its publishers (also known as affiliate marketers).
The beauty of affiliate marketing is that it is very scalable, both in terms of time and in terms of capital.
In terms of time, the speed at which you can launch an affiliate marketing website with original content is astounding. I am very process-oriented, and I can have a new affiliate marketing website up and running with original content in less than two days. That is amazing. During the initial six-month Google “sandboxing” period (when Google limits search results), I can add another 30 to 40 thousand words of reviews and articles to the website, helping my audience find what they are looking for in a potential purchase.
Even more incredible is the capital required (actually the lack thereof) to get started. You can begin on Wealthy Affiliate for free. That's right, FREE. You get free hosting (2 sites), free domain names (Wealthy Affiliate subdomains), and free training (first training module only). Now, like any other platform, they want you to sign up for paid services, and to really be successful, you need the full functionality and access to all of the training and education modules.
Signing up for annual plans to receive the discount is $1,182.75.
$1,182.75 is not a big capital requirement for the potential to build a million-dollar business and the reason for the high Lever Rank for affiliate marketing.
Capital Requirements for other businesses
Let's make a capital requirement comparison to some of my other brick and mortar businesses:
Direct Real Estate Investing
At a 7.5% CAP rate, you would need to purchase outright $13.3 million worth of real estate, make sure it was cared for properly and stays rented.
Real Estate Investment Trusts (REITs)
At a 6% average yield, you would need $16.7 million invested in REITs to return $1 million in annual revenue.
By the time our entertainment company was bringing in over $1 million in annual revenue, the capital expenditure had exceeded $10 million dollars, had taken ten years to develop, and required a large staff, production facilities, and an extensive creative library of content.
These are just examples from my experiences, but I find that most businesses require substantial capital to get started.
Are you opening a restaurant? You need to lease the space, do the build-out, hire staff, place insurance, get licenses, pre-pay for inventory, implement training programs, and set up operational processes.
If you go the franchise route (think McDonald's or Burger King), it can be $500,000 or more just to get started.
Are you thinking about entering the trades? Plumbers need trucks, warehousing, licenses, training, and advertising to get started.
Is $99 per month all you need to build a million-dollar business?
No. That is just the initial infrastructure costs to build and run an online affiliate marketing business using the Wealthy Affiliate platform and launching 25 affiliate marketing websites.
To build a million-dollar business, you need to create content (write articles, make videos, and podcasts) and grow an audience. Content takes a lot of work. A LOT of work.
Commit to learning more about online marketing every day. Follow the training and focus on getting a little better each day. There are hundreds of training videos in the member section in Wealthy Affiliate. These videos range from how to build your website using WordPress to setting up Google Analytics to track your visitor behavior.
As you get more and more busy, you will find different tools to make you more productive. You might even start hiring writers or pay for search engine advertising.
Feel free to ask any questions in the comment section. I am happy to help.