Joint Ventures and How to Profit.

This article will describe a basic premise of joint ventures.

A Joint Venture is a strategic partnership between businesses where they make use of each others customer base and create win/ win situation.

If you are a business person with list of around 500 customers and you promote a high quality product of another business person as joint venture. If your customer buys the product of the other business person, then you make a commission. Business joint venture pro has some unusual techniques of making money with joint venture.

For example you own a rental complex and you have about 100 residents. Now, there is a new fitness center that is located about half a mile away. You and the fitness center owner agree over a joint venture that you promote the fitness to the residents of your complex.

You offer a 2–week free fitness membership pass to your residents (this will be part of the joint venture agreement). After that if the resident becomes a paid member then you make a commission. That’s a great residual income from a Joint venture.

As part of the joint venture, at the fitness center, they offer their members one month free rent if they sign up a one-year lease. If the Fitness center sends a customer who rents your apartment, then they make a commission.

If you don’t have a customer list but have a great product, then you can approach other businesses, who are willing to promote your product to their customer list. You can then come into a joint venture agreement to have them promote your products.

If you don’t have a product or a customers list, then you can broker joint venture deals. For example you can sell others cars for a commission or bring in customers to a merchant.

How to find Joint Ventures?

It is easier to find joint ventures on the internet. The following steps can help you find joint venture partners if you have a product or have resale rights on a particular product. Business joint venture pro has more details about all these steps.

Let’s take an Ebook Joint Venturing as an example.

1. Create an attractive sales page for your ebook which lists the benefits of this ebook clearly. A sales page may not be necessary for your product but is helpful.

2. Decide your target market. Who would be interested in your ebook? Narrow down the target market to age group, gender etc. if needed. Also, research on the internet to create a list of your target market.

3. On a major search engine like Google, search for your target market.

4. From your search results list, eliminate those that are your direct competitors because the chances of forming a joint venture with a direct competitor. Narrow down the results by picking the non-competing products. For example, if you are selling an ebook that shows how to build a computer, then anyone selling computer parts and accessories can be your joint venture partner. If are selling an ebook about learning how to play guitar, then anyone selling guitars can be your joint venture partner.

5. Create a spreadsheet with columns - name, address, phone number, contact person, products and status.

6. Write a letter to the contact person. Preferably, write a letter on your letterhead and put it in an envelop that has your address and your prospective joint venture partner's address printed rather than sending an email. If you have to send an email, then give your phone number and street address. A lot of people ignore email because of the increasing numbers of spam. Your letter should explain the benefits of your product to your prospective joint venture partner and how much money will they make. Ask them to call back very soon.

7. Follow up until you get response from your prospective joint venture partner

There is a lot more about how to find joint ventures, how to approach joint ventures, examples of joint ventures, joint venture agreements etc. The bottom line is that joint ventures must provide a win/ win situation. Also, read broker joint venture deals. Joint ventures can cut down marketing cost dramatically. Also, large joint venture agreements involve a lot of legalities and needs expert legal consulting.

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