Do you pride yourself on taking notes that allowed you to excel academically? If you compiled plenty of sell study notes that you are no longer using, why not make money out of them?
Some websites take your notes off your hands and use them for a higher purpose. There are many struggling students who can benefit from your hard work. In fact, there is an entire community dedicated to swapping notes to help others pass their subjects. The best thing is that you can earn money out of the arrangement.
Business Model
Most of these websites use a straightforward business model. You only have to upload the notes, and they will link you to the potential prospect. The student will then purchase the self-study notes for a fixed price. The website will split the fee with you as a form of royalty.
The split is usually 50-50, but other websites will offer up to 65% of the cost.
The computation can be:
- Base royalty — 50%
- Bonus royalty — 15%
- Commission 35%
The commission will go to the website, which will then go to operational, marketing, and maintenance expenses.
You do not have to do anything other than activating your account and uploading your notes. You can go about your life and only wait for the royalty fees to be transferred to your account. It is an excellent source of passive income.
How Do Students Pay for the Service?
In the same manner, the websites also make it easy for students to download self-study notes. Once they open an account, they would have access to a massive library of digital files. They can also use the customized search box to look for a specific subject.
Afterwards, they can pay for the document they want to download. But if you are still a student, you can also use the system to download other resources for free.
For example, if you have valuable notes , you can upload them and receive exchange credits. When you have sufficient exchange credits, then you can download another document, which will then be deducted from the balance on your account.
The websites are mobile-friendly so that you can access any of the resources from anywhere. It is handy when you need to finish schoolwork on a short deadline. Instead of going to Google, where you need to filter unverified information, you have a precious resource of papers and references.
