YouTube provides an unusual small business formation opportunity

Some Illinois residents may shy away from starting their own business because it may take some time before the business becomes profitable. There are people around the country, however, who have discovered an interesting and unusual small business formation opportunity. With only a laptop computer and a video camera, these entrepreneurs -- sometimes unknowingly -- have stumbled upon a lucrative business.

Most everyone has watched a YouTube video at some point. Some people even subscribe to channels owned by an individual who regularly produces content. Unbeknown to some of these channel owners, once they reach 30,000 subscribers, they can begin to make money. Companies approach these YouTube channel owners to work with them to put advertisements on their channels.

It is estimated that, for every one million times an advertisement is viewed, the video maker earns roughly $2,000. For a lucky few, their income can easily reach six to seven figures -- and that is after YouTube takes a 45 percent cut of the profits. Of course, not everyone makes that much money, but many people could make a good living from simply doing something they love -- making videos.

The lesson from this is that small business formation can happen in the most unlikely of ways. Illinois entrepreneurs who believe their business idea may be too unusual should not give up. It should be noted, however, that the creators of these videos work with Multi Channel Network management teams and YouTube, which often requires at least some business and legal acumen. Even a business as simple as making YouTube videos requires that certain legal and business issues be handled.

Source: Fox Business, "Making Six-Figures Off YouTube Videos", Katie McKenna, Aug. 8, 2014

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