To be an affiliate marketer you need not run a business. You can select a platform like Amazon, search for a product you enjoy and then promote that product by providing the link in your social media handle and earn a piece of the profit (commission) from each sale the company makes. Affiliate can be done either for a product or service.
Example: You are using a service from GoDaddy and you refer to your followers about the domain and send a link to purchase the service. You make a commission when the service is purchased by the customer.
There are many platforms like Amazon, GoDaddy, Hotstar, etc. They post a link to purchase things, without any reference and make money out of it.
Affiliate Marketing helps in Passive income. An example of a great Affiliate marketer is Pat Flynn. He owns a website and makes money through affiliate marketing.
Many high revenue-generating businesses and small businesses do affiliate marketing. People do mobile reviews, unboxing technical products, etc. and earn money.
The main advantage of being an affiliate marketer is you can learn in detail about the product however need not manufacture the product or provide the service. You will be the connecting point between the customer and the business. Many people are earning through affiliate marketing.
If you planning to expand your business through affiliate marketing,
1. You can have channel partners and they can sell your products. You have to check if you can pay commission to those affiliates.
2. Once you are flooded with technology information there are a lot of business opportunities and you can sell those products like weight loss products, protein powders, etc.