As an entrepreneur trying to solve business needs, your initial approach to providing solutions may be to develop them yourself. However, this may not be the easiest and cost effective way to handle your business. Building solutions from the ground up sometimes can be a setup for failure.
Most often, these business needs that you are trying to solve already have solutions available. Furthermore, developing tools and solutions are costly, time consuming and prone to errors and bugs. And, some needs and functions are just outside of your core competency which may lead you to end up with substandard solutions that even your clients may not find valuable to them. In the end, you will just lose your clients.
These mistakes can be avoided if will just purchase white label solutions, rather than building SaaS applications yourself.
“White label” refers to a product or service created by one company and sold by another. This uses almost the same principle as drop shipping. You can sell solutions created by a different company but with your own branding.
WHO SHOULD VENTURE INTO SELLING WHITE LABEL SAAS SOLUTIONS?
If you find SaaS solutions as a profitable business model but you do not want to build software, or you do not have the capacity to build tools and applications from scratch, opting for White Label solutions is advisable. All you need to do is market the solution and sell it as your own.
HOW TO START A WHITE LABEL SOLUTION BUSINESS
Your first step is to choose which solution is right for you. Think of what you like, and what you may find easy to sell. Then conduct some market research. Here are different white label options for you:
When you know what niche you want to be into, look for white label software providers. Keep in mind that their product will be your product so look for features like customization, support, and reliability in terms of hosting.
Customer satisfaction is important so when eyeing a software provider, make sure they offer product support. On your end, you may need to provide your own customer support service for your clients.
Marketing matters and once you have created your brand, get your software known. Launch your website and subscribe to marketing tools like SEO, Social Media, Viral Video and Email marketing.
EARNING POTENTIAL OF A WHITE LABEL SAAS BUSINESS
Your profit would depend on the cost of acquiring white label software and how much profit you can put on top of your overhead costs. Other expenditures you need to consider are website maintenance and marketing subscriptions.
You can launch your company in less than a month if you pour enough hours. Selling them would depend on how much time you dedicate in marketing.
WHITE LABEL SOLUTIONS AS A PROFITABLE SAAS MODEL
White Label solutions free you from the burden of developing solutions yourself. By hiring the right developer, all you need is to brand it as your own, market it and collect your income. To learn more about white label solutions, click on the blueprints below.
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