A Quick Overview of Starting an Online Coupon Business
Some of your website visitors will be true bargain hunters looking for the best deal possible every time they spend money.
Other visitors will just be looking for a one-time reduced price when they have a special purchase in mind.
The business owner must locate coupons, meet with manufacturers, and work constantly to fill the site with the latest coupons.
- Ability to work with a database for tracking coupons and their expiration dates.
- Knowledge of website development and graphics software.
- Online Marketing is a must.
- General Internet skills.
- E-mail a weekly newsletter to inform members of new and expiring coupons.
- Find online and offline coupons and organize them in a database.
- Mail non-printable coupons.
- Graphics background including scanning and uploading documents.
- Knowledge of UPC code scanning.
- Common Business Skills
- Internet access
- Database software
- UPC code scanner
- List of Essential office Equipment
Monthly Expenses To Consider:
- Internet access
- Common Monthly Expenses
Approximate Minimum Startup Cost:
Bare essentials – To start this type of business you’ll need approximately $1500 – $2500 to purchase a computer, scanner, printer, create and host a website, and database software.
Pros and Cons:
- Potential to be a lucrative business
- Room for growth, such as incorporating local maps with retailer coupons attached
- Ability to get great deals through retail clients
- Many hours required to track coupons
- You need to develop a good client base in order to make it worthwhile
- You may have to hire people for graphics and website maintenance early on if you don’t have the experience
Starting Your Online Coupon Business
Starting a business has similar steps. For example; define the type of company to form, creating a business plan, funding your business, choosing a location. etc.
Rather than repeating the same steps in this post, I have an article with all the details. In addition, I have included important points for you to consider before you start. See The Essential Steps To Start a Business for all the details you’ll need.