Online events: A new way to make money online with Shopify
Lately I was reading about 16 Online Business Ideas on Shopify. With Starstream a new category of online business on Shopify is born: Selling tickets to Live Stream!
There is 3 reasons why this online business idea is the best of them all
The production cost is 0$
It is literally free to produce a live stream. Unlike selling physical items on Shopify, you don't have any inventory to manage, shipping time or returns to handle. Your profit margin is infinite. If you sell hundred 5$ tickets, that's 500$ right in your pockets.
It's super easy to produce
A live stream is way easier to produce than other digital items. For example, online courses take a lot of time to create and you need to be an expert in a domain. With live stream you can create a truly unique and interactive experience. People are ready to pay an healthy amount of money to get entertained or learn something new in a meaningful manner.
It's easy to sell
Look at Twitch, Youtube Live and all the Zoom webinars happening at this time in the world. People are willing to pay to access this content or premium version of it. Since it cost nothing to produce, you can provide this product at a low price point (for example 5$ or 10$). If the customers don't like the event, they only lost such a small amount of money that they won't even care about it. This creates a lot of room for experimenting new ideas and concepts.
How to get started
With a Shopify store and the Starstream extension you have a way to sell a ticket that will look professional and will inspire trust. This will convince your customers to click on the buy button.
So go ahead!