396: Private Label vs. Product Licensing: Which is the Better Side Hustle?

The Side Hustle Show

Nick Loper

Business, Education, Entrepreneurship, How To

4.7 • 1.6K Ratings

🗓️ 9 July 2020

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the e-commerce space, selling private label products on Amazon has been a popular side hustle for the last several years.

But is it still the best way to go?

Or is there a lower risk, higher reward way to turn your ideas into profits?

In this episode, which is the second episode of our Showdown series this month, we’re comparing two ways you can capitalize on opportunities in the market; selling private label products and product licensing.

For this debate, I’ve sourced two guests who have appeared on the Side Hustle Show before:

Greg Mercer of JungleScout.com, creator of the popular Jungle Scout product research and amazon analytics software. We last from Greg on episode 263, when he talked about how to find your first Amazon FBA private label product. (Try Jungle Scout for half off your first month with my referral link.)
Stephen Key of, InventRight.com and author of the One Simple Idea: Turn Your Dreams into a Licensing Goldmine While Letting Others Do the Work. We last heard from Stephen on episode 113, when he talked about how you can turn your ideas into recurring revenue.

Both business models allow you to exercise our creative muscles. But, as you’ll find out, each model is suited to a different personality type and has a different balance of risk and reward.

Tune in to hear both Greg and Stephen dig into the different strategies behind:

Getting started
Marketing and discoverability
Start-up costs
Beating the competition
Monetization
And more

There is some interesting insight into these business models. By the end of the episode, you’ll have a clearer idea of which business model is best for you.

Full Show Notes: Private Label vs. Product Licensing: Which is the Better Side Hustle?

Transcript

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0:00.0	In the e-commerce space, selling private label products on Amazon has been a popular
0:06.7	side hustle for the last several years, but is it still the best way to go?
0:11.6	Or is there a lower risk risk higher reward way to turn your
0:15.2	ideas into profits? To find out it's time for another side hustle showdown.
0:25.4	What's up, what's up, Nick Loper here? Welcome to the Side Hustle Show because you're worth more than what it says on your paycheck.
0:30.6	This week I'm excited to welcome Greg Mercer back to the program.
0:34.0	Greg's a seven-figure Amazon seller and the creator of the popular Jungle Scout,
0:38.5	product research and Amazon Analytics software.
0:41.5	Side hustle show listeners can try it out for half off your first month through
0:45.1	my affiliate link at side hustle nation.com slash Jungle Scout. But this is the second episode of our
0:51.0	showdown series this month,
0:53.0	highlighting the pros and cons
0:54.8	and potential alternatives to popular side hustles.
0:58.2	And the alternative I want to present
1:00.6	to Greg's private label strategy on Amazon is product licensing. This has been
1:06.3	the topic of a few different episodes in the archives and representing the
1:10.4	licensing side of the debate today is another returning guest
1:14.3	Stephen Key from inventright.com and the author of one simple idea.
1:19.3	Turn your dreams into a licensing gold mine while letting others do the work. In both
1:25.2	strategies you're exercising your creative muscles. You're looking to make
1:28.8	improvements or modifications to existing products. In private label you're going to be responsible for
1:35.1	the manufacturing, the branding, and the marketing of that product, whereas in licensing you seek out
	...

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