How to Take Gold Farming to the Next Level – Part 2
In part one of How to Take Gold Farming to the Next Level, we talked about how to expand your gold farming business. In part 2, we’ll take a look at the best ways to expand your workforce, so you can farm more gold and turn that gold into cold, hard cash. Remember those Chinese prisons that made headlines for forcing inmates to farm WoW gold? This is the same concept – minus the forced prison labor of course. And by the way – those prison bosses were rumored to earn $700-$900 a day.
There’s only so much you can do on your own, so if you’re looking to increase your profits, you’re going to need a bigger workforce. The question is: where do you start? Here are some tips:
Recruiting friends and guildmates to help you farm on a weekly or daily basis is a great place to start. I mentioned approaching friends and guildmates in Part 1 of this series. What you’ll do is buy gold from them for 30% less than the actual cost. As the saying goes, “you need money to make money.” And this saying couldn’t be truer here.
Let’s say you recruit 10 players to work for you and each one supplies you with 30,000 gold. That equates to 300,000 gold a day. With a 30% profit margin, you’re looking at $39 profit.
Right, now the current price for 30,000 gold on WoW US – Icecrown realm is US$13 on G2G. Going off of this figure:
- 300,000 gold = $130
- $130 – 30% profit margin = $39 profit
Keep in mind that this profit doesn’t include any time you spend farming the gold.
If you can set a goal to earn $50 a day, you’ll earn $1,000 in 20 days doing this part-time and with weekends off. And if you have a large guild or network of WoW friends, you’ll have no problem recruiting at least 10-15 players to help you farm.
Expanding Your Network
Once you’ve recruited some friends and guildmates, ask them to introduce you to any friends that might be interested in selling gold for cash. Obviously, you want your friends to be discreet about this. Never discuss gold farming matters via in-game chat. Always use messenger. Make sure your friends and contacts understand this rule ahead of time.
Craigslist is another great way to expand your network by hiring WoW freelancers. Just post a job offer under “gigs” or “part-time jobs” looking for dedicated WoW players who want to earn a little extra cash.
Be sure to create a catchy title for your post and mention that you’re looking for a committed WoW player in the job description. Let potential candidates know that this opportunity is a great way to earn extra cash in their free time playing a game they love. Don’t forget to include your messenger, skype or email in your listing, so players can contact you with their information.
When players message you, let them know that you’ll be providing real cash for their in-game gold. Remember to be extra cautious here, and never reveal your character name until you’re ready to make a trade.
Ask players to submit the following information when responding to your post:
- The name of the server they’re currently playing on.
- Their in-game character name and class.
- Their PayPal email address.
- Whether or not they’re willing to dedicate a specific day to gold farming.
- What their current farming schedule is.
- When they’re available to trade gold.
Finding players through Craigslist, forums and other online outlets is a great way to quickly expand your gold farming network and your profits.
For even more exposure, post your offer on Reddit and other game forums.
Things to Remember
Expanding your workforce – and your profits – is an exciting idea. But there are a few important things that you’ll need to remember to keep your operations and your money safe.
Know the Tax Laws
Before you get started, check to see if tax laws apply to virtual currency in your country. If so, you may need to work with a professional to ensure that you’re in-line with local laws.
Never Use Your Main WoW Character to Make Trades
Ideally, you’ll use a completely different game account to make gold trades. In the very least, you should be using an alternate character. Make sure that your character is at least level 30 to avoid suspicion. I recommend using a different account for gold trading. Using an alternate character can still put your main character at risk if your account should get banned.
Don’t Pay for Gold Before You Receive It
It should go without saying that you never want to pay for gold until you actually have it in your possession. It’s far too easy for players to say they’re ready to trade, but never actually deliver. Wait until the trade is complete to make payments through PayPal.
Not sure how to send payments through PayPal? Here’s a helpful FAQs to help you get started.
Never Mention Real Money or Farming In-Game
When messaging other farmers in your network, never mention anything about farming gold or trading gold for real money. Keep it simple by letting your contact know you’re ready to receive the gold and arrange a meeting.
It can be hard to keep track of a large network of gold farmers, so organization is the key to success. Create a log or a ledger to monitor your sales and expenses, the names and PayPal emails of your gold farmers, the gold amount for each server, any listings you have on G2G.com, and other important information.
The more gold farmers you have, the more gold you’ll have to sell for actual cash. Recruiting friends and guildmates and expanding your network will help you increase your profits. If you stay organized, have a large network of gold farmers, and use the right farming tactics, you can earn extra cash playing a game you love in your spare time.