Aaron Gelbman
Mention the words “passive income” and thoughts of an heiress’s trust fund, grandpa’s pension plan, or your landlord spring to mind—pretty much a range of people enjoying passive income, just not you. However these days passive income is within reach for all types of professionals, in the form of revenue sharing. And fortunately it’s never too late to get on board and to start generating your own passive income from revenue sharing.
What is revenue sharing?
Revenue sharing is a business model that allows companies to share [their] success with stakeholders. The sharing of “success” – such as the compensation, the timeline, and the requirements – will vary from company to company and be clearly outlined from the onset. For example, the payout could be distributed quarterly into your bank account if you surpass a minimum sales threshold. The “stakeholders” who receive the benefit will also be clearly defined, and could be the external business partners who sell the company’s product as part of their daily operations.
The Wix Studio Partner Program is one example of a revenue share program created especially for creative and digital professionals. Once you’ve enrolled in the Partner Program, you are a “stakeholder.” And as your clients’ sites generate revenue for Wix Studio – through premium plans, online store sales, email marketing plans, and more – you receive a portion of the company’s “success.”
Apply now for the Wix Studio Partner Program >>
How can I benefit from a revenue share program?
A well-rounded strategy to secure recurring monthly income is a combination of traditional models, such as upsells and ongoing site maintenance contracts, and a revenue share program. And with the unique advantages of Wix Studio’s revenue share program, you’ll also develop your creative and professional skills, and grow your new business funnel.
1. Open up a new revenue stream
Revenue share brings stability to what can be an uncertain industry with fluctuating demand, limited resources and a long new business development cycle. Enjoy peace of mind by earning consistent, recurring revenue from premium site renewals, online or offline payment transactions, marketing tools sales, and more.
2. Partner with a provider that wants to see you win
Revenue sharing is about much more than financial gain—it’s about identifying as many opportunities as possible for you to gain as many professional opportunities as possible. Think: influence over a product’s evolution; access to white-glove service; and front-row seats to industry news, courses, certifications and more that your provider may offer. This, in turn, can help you offer more value to your clients. You then stand to gain more from the revenue share arrangement.
Wix Studio, for example, is offering its partners the most expanded revenue share opportunity in its Partner Program’s history. Plus new product features (like the AI code assistant) and new training opportunities (such as Wix Studio Certifications) empower you to deliver more advanced projects and ultimately reap more rewards in revenue sharing.
3. Brand yourself as a specialist
Revenue share isn’t a short-term strategy. Your clients are looking for great long-term results: sites that increase in traffic and authority, and stores that encourage return customers and repeat sales. Long-term success for your clients equals long-term success for you – building a site that your clients want to sustain and that continues to generate strong sales effectively leads to more income for you from a revenue-sharing plan.
Professional Partners who work on Wix Studio for the long term don’t only see a recurring return from the revenue share plan, but also increase their rates of return. By publishing more premium sites over time, Partners gain points and eventually reach higher levels of return in the revenue share program. Nicola Nogales, a partner success manager for Wix Studio, advises creative professionals “to fully exercise their revenue share opportunities with Wix. Generating a passive income stream that continues to grow with your business is a smart strategy.”
4. Expand your list of services
The best revenue share programs offer you various ways to earn money, using the tools they equip you with. For example, the program can include separate but incremental revenue streams, such as website sales, email sales and app sales. This not only gives you multiple ways of generating revenue, but also allows you to develop your professional skills across multiple client needs. In the long run, you can enjoy sustained revenue but hone more skills to broaden your portfolio.
Wix Studio offers more than just website creation. It offers a wide range of tools that can add value to your clients’ businesses, such as email marketing, mobile app creation, online (and POS) payments and more. Selling these additional tools to your clients translates into additional revenue share into your pocket.
The Wix Studio Partner Program’s revenue sharing plan is subject to change. The latest applicable terms for the program through January 2025 can be found here.
This article was originally published in FWD, the blog for creative professionals from Wix Studio.
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