I'm going to give you the full step-by-step guide on how I make $200 a day in passive online income as a stay-at-home mom using something called a local online dollar auction. This is the ultimate work from home way to make money online quickly. If you are managing a Facebook sales group fro free.....STOP IT!
Now if you don't know what a dollar auction is, don't worry, I'll go over exactly what it is, how it works and why I think it's the best side hustle for moms to make anywhere from $100 to $300 a day from home almost entirely as passive income. All you will need to get started is an internet connection and one of these two mobile devices (phone/laptop) and items you have laying around the house.
If you have tried any of other go to methods to make money online like, data entry, online surveys, building online courses, social media management, selling vacation rentals, being a freelance writer, selling digital products, writing an e book, or hanging out your shingle in the short lived markets of customer service representatives, online business building, getting famous across social media platforms, becoming an affiliate marketer or the world of virtual assistants, this will be music to your ears.
But more importantly, I'm going to show you exactly how you can start your own dollar auction and start making a realistic sustainable income online without sacrificing your busy mommy lifestyle in just a matter of weeks. With internet access and the marketing strategies I'm going to hand you, making money online and eventually making enough to have extra money is well within your reach.
So before we dive in...... what the heck is a dollar auction? I'm glad you asked :)
About 2 years ago now I discovered the dollar auction completely by accident. I had just become a single mom and I had to quickly figure out how I was going to provide for my two sons totally on my own.
I immediately joined about a million social media groups to try to get some ideas on what to do that would allow me to be in control of my time and allow me to make a consistent income. Although I found the groups to be a supportive community of people all looking to earn money online like I was, they were not very solution based.
I fell into all of the gig economy and freelance jobs traps that I am sure you have fallen into yourself and started to think, "was my goal to be self employed just a pipe dream?".
I got tired of working or hours on end and stringing together multiple opportunities for very little extra income. I needed to make money online that equated to an average salary and allowed me to stay competitive and gain new skills. A job that gave me debit card money not spare time money.
At first I just had the simple idea of selling used items online much like most of us have done before but soon I realized that lots of other people had the same need that I did and also wanted to make money while getting rid of old things around the house. I also noticed how hard it was form moms int eh craft market using their graphic design skills to make tumblers and t shirts to get their business off the ground just using social media posts.
Within just a few months after launch, my local online $1 auction quickly evolved into a thriving business and community both for myself and other parents in my city.
Fast forward to today, now I'm making about $5,000 a month almost entirely passively without even selling any of my own items or being committed to a time consuming job.
So very simply here's how a dollar auction work:
One: There needs to be a group where the auction takes place
The best and easiest place to do this is a Facebook group that's free to join. Items are listed with an opening bid of just $1. Remember, you are building a community. This community centers on target markets of local people looking to sell and local people looking to get a great deal. Keep it simple.
Two: Community bidding
Members of your auction group will place bids on items they're interested in. Your children and other people's children grow out of clothes and toy trends regularly. The greatest benefit I have found in the local online dollar auction I started is the opportunity to save way more money buying from neighbors than I ever did buying off the clearance rack.
Three: Auction Duration
Each auction runs for a set period of 24 to 48 hours. How much time you decide to make your auctions matters a lot. Setting an auction time frame keeps items in high demand, allows your members and sponsors to get the most bang for their buck without a ton of marketing efforts or advertising revenue and keeps your job as dollar auction manager (which operates a lot like the realm of remote customer service representatives), a work from home opportunity you love.
Four: Winning Bidder
The highest bidder at the end of the auction wins the item. Winning based on time then amount allowing bidders to get the most opportunity to bid and sellers to get the most money possible. Some sellers in my auction have made up to $20k in extra money online just by using my $1 auction as a main place to sell.
Five: Item Exchange
The winner arranges to pick up or receive the item. For sellers, this is the best part because they also get to avoid things like expensive shipping costs and packaging. This also gives them an opportunity to get well known in their local community and build affiliate networks with often local schools and churches, especially if they are a crafter or graphic designers who own a t shirt press. With regard to small business owners, they have said consistently that advertising their products and services in the great community of dedicated buyers within my dollar auction has been the best way to gain local support and potential clients.
Now how do you actually make money from this group? Great question!
So there are actually a total of four income streams you can benefit from by running a local online dollar auction immediately. Currently, I'm only making use of just one of these streams and this stream alone makes me anywhere from $2k-$3k a month and it's almost 100% passive.
Here are the four income streams available:
1.Selling Your Own Items
This is where you treat it like an online yard sale and start posting items you find around your house. Bidders will bid over the next 48 hours and come pick the item up from your porch so you don't spend any time or money on expensive shipping.
The best thing about this income stream is that it requires absolutely no initial investment to get going. This may not be the entirely passive route but it sure is easy earned money or extra cash and definitely beats taking surveys.
2.Monthly Group Membership Fees
This is where you charge other people a small fee to also sell items in your growing group. They will complete the same process you did or if they have resale items or small business products they would like to sell they can also post those in the same auction format. This gives them even a little feedback on what is popular so they continue to sell that in their main business.
Now this income stream is truly passive but it will require you to set up subscriptions in PayPal and your own website with a company name to house the payment link so they are available 24/7 for your community to join. Your website is also a place people can read reviews about your auction and learn more about services you offer fro sellers and local small businesses.
3. Business Advertisements
This is when you start taking on local business sponsors who are excited to advertise to the targeted group of local buyers you are growing.
Each month, they pay you a fee to post ads in your group and be linked to your website where you drive traffic. Because of your memberships, other than you connecting the ads and building a few relationships with local businesses this is also a totally passive income stream.
What great about this opportunity for local businesses is that the cost is a drop in the bucket when compared to the increasing amount of people who will see their company name and services offered daily.
4. Savings on Personal Purchases
Most people don't consider savings an income stream but when you're saving over75% on every purchase that's exactly what it is. When you and others in your dollar auction make purchases, you will have the opportunity to save thousands of dollars annually that you can put towards other family needs and wants.
But the dollar auction doesn't just stop at income streams. There's several more reasons why this is such a great business model especially for a busy mom who doesn't have a lot of cash or time on her hands.
Helping the Community-Allowing other people in your community to create their own online income stream through your group is what makes this opportunity so great. You're not just solving your own problem, you are solving the problem of many.
Flexible Work Schedule- Moms can manage the auction around their family commitments working from home at times that suit them. (PS: You can also even hire a virtual assistant to do the daily work while you collect a much more passive income stream from the entire process if you are so inclined.
Low Startup Costs-Starting an online dollar auction costs a very low investment making it accessible for everybody. You don't have to be web designers or app developers to run a dollar auction. Everything you need to start is free and available to all.
Beginner Friendly -You need no expertise to start and can even get going with just a minimum balance in your bank account.
Now you might be wondering, "what if everyone starts their own dollar auction, won't it be really hard to grow my group?"
Here's the thing, your auction is only limited to your local market since people have to actually sell the items without shipping once the auctions are finished. On top of that, each group has its own unique vibe and culture so it's possible to have multiple successful auction groups even in the same city.
So now let's go over how to actually set up your own dollar auction and start making money from it in a matter of weeks.
Set up your Facebook group and website
Create a Facebook group with a clear catchy name and description.
Design a simple website for additional information and credibility. This is also where your memberships are housed.
Established group rules and guidelines for the auction.
Start marketing the group and hype it up for the initial launch. Let friends, family and neighbors know about the group through direct messages and social media posts.
Share previews of items to be auctioned to attract interest initially.
Organize small giveaways for members who invite others focusing on local community members only.
Use attractive visuals and engaging content to create buzz and engage new members.
Clearly communicate the rules and steps to participate in the auction and encourage immediate participation to establish value.
Stay active and responsive to questions and posts, especially during the initial launch phase
Facilitating Auctions
Guide members on how to list items set starting bids and manage bids. Explain the process for winning bids and arrange item pickups for deliveries.
Monitor auctions for fairness and adherence to rules further monetizing the group.
Implement tiered memberships with varying privileges and posting limits and set a reasonable monthly fee for different membership levels.
Partner with local businesses for sponsorships and advertisements.
Explore auction related business opportunities like themed auctions or featured seller spots.
Management and growing the group
Consciously use promotions and events to attract new members and encourage current members to invite their network.
Provide excellent customer service and maintain an easy to navigate group environment.
Ensure a streamlined process for joining and leaving the group
Automating the Group
Consider hiring a virtual assistant to manage daily operations.
Automate repetitive tasks to make income more passive.
Regularly review and adjust strategies for efficiency and growth.
So that's how you set up your very first dollar auction and start profiting from it within just a couple of weeks.
Obviously, there are a few additional steps involved in this process like setting up your payment processor, the exact promotions and posts to use, etc. but listing all of those would make this blog over 30 pages long.
So if you want to just skip the headache of trying to figure out every tiny step on your own, which personally, took me several months to create, heres a link where you can join my community where I literally give you all the tools you need to start your own profitable online dollar auction group within two weeks.
In the community, you'll get over a dozen hours of detailed step-by-step video guides on how to set up your dollar auction.
From setting up your group to attracting members you'll get all my done for you templates including the promotion and posts I used to get started and attract thousands of members within the first week to join my group and the rules and configurations I use to set up the group so it's extremely easy for people to follow.
So you can basically just copy and paste my entire model in a few days and be up and running!