According to Outsell Inc., a research and advisory firm focused on the publishing and information business, the information industry will reach US$448 Billion by the end of 2010.
That would be an amazing growth of US$106 Billion from just US$342 Billion gross in 2005.
The pie is so huge that it is drawing so many investors and entrepreneurs.
But here are some of the reasons why marketing information products could be the right business for you:
1.Low start-up cost. How much, do you think, would it cost to you to get started in an offline business? Say a coffee shop, US$20K? US$30K? Now consider setting up an online business which sells information, it could be in the form of audio, video or ebooks. How much would it take to set this up? $3K, maybe $4K to include the HD camera, PC and video editing software.
2.Long-term residual value. Or better understood create once profit many times. Think of books which the author writes only once. The time it gets into the shelves of bookstores or at Amazon, the author just waits and collect the royalties when somebody buys the book. It’s also true with audio and video products. You’ll record only once, upload it to your server, and profit every time somebody downloads it.
3.Very high profit. Can you think of an offline business whose profit margin runs from 85% – 95%? I wonder. And that’s one great reason to be in the information business.
4.Low risk. In terms of start-up costs, information marketing is extremely low. If you are to test the market, you can throw in an adwords account and spend a few hundred dollars to see if your product would have some interested buyers.
5.You can do it from home. And at anytime you like. Imagine the freedom your information business brings.
There are more reasons which would make the information marketing business more compelling but I find the 5 above enough to push you to start.
© information marketing by Grandstart