So you would like to start a coupon business…huh. Good for you.
Two weeks ago I decided to take a break and watch TV all evening on a Saturday. I was flipping through the channels and stumbled upon the show called, “Etreme Couponing.” I did not know the show existed. I was so fascinated by it that I watched quite a few hours of episodes back to back.
It’s unbelievable how people spend 20-40 hours weekly cutting coupons. That’s a job. I can’t imagine spending $6 on $1000 worth of groceries. That’s awesome! Well, many people, especially during these difficult economic times are using coupons to cut more than just their grocery bills. Check out one of TLC’s Extreme Couponing videos below:
By Alicia Bodine, eHow Contributor
Starting a coupon business can be very lucrative. Individuals are looking for ways to save at every turn and coupon booklets can help provide that. Imagine how customers would react if they could buy one book that would save money when they need an oil change, babysitting service, or a bouquet of flowers. Coupon books can provide coupons for just about anything you intent to purchase or any type of service you plan to use.
With the installation of the following coupon toolbar, you will be alerted instantly to money-saving coupons right from the toolbar! This is the must have toolbar for any bargain hunter!
Tools Needed For Starting A Coupon Business
Things You’ll Need
List of businesses from the Chamber of Commerce
Start up money
Start A Coupon Website…Website with payment button
Start with a detailed plan. Make sure your plan includes deadlines. The plan should give you time to get start up funds, time to contact merchants and service businesses, time to create coupons, time to print and time to distribute coupon books for sale.
Decide how much money you need for your start up funds and then get your financing. Your start up funds should include money for the software needed to create the coupon pages, money for the printing of all the materials, money for the gas to visit merchants and deliver coupon books to be sold and any income you are going to need to support yourself until the books begin to sell.
Use your telephone book or a list from the local chamber of commerce to begin contacting businesses to see if they would be willing to place a coupon in your book. You can go about this two ways. You can charge each company a small fee to appear in the book, or you can allow them to be in the book for free if they agree to display your book at their place of business for sale. You are going to earn on all the sales and having the books available at as many locations as possible is going to bring you most of your money. You must weigh your options and make a decision.
Design the coupons with the software you purchased and get approvals from all merchants and service business owners. Once you have approvals you can take your proofs to the printer.
Get the printer to print out an initial run. You will have to decide how many books you think you can sell. Let this be a conservative number at first, because as your books begin to sell you will get a better idea of how many more you need to have printed.
Distribute the coupon books to all the places that have agreed to display and sell them. Collect the sales and keep track of sites that run out of books so you can print more and replace them quickly.
Create a Website
Create a website to sell your books. Make sure when you create a website you list all the selling points as to why people need these coupon books and how much they can save with them. You can add up the total amount of money each coupon will save you and place the total at the top of the website to capture people’s attention.
Add a payment button. This is easy to do especially if you have Paypal. When you sell the books online, make sure you include shipping and handling charges to the purchase price.
Advertise your coupon books website through online methods or in local newspapers and magazines. You can even leave flyers at supermarkets or pay some kids to leave flyers on people’s car windshields.
Repeat all of these steps once or twice per year depending on the demand for the product.
Read more from e-how.com: How to Start A Coupon Business
Groupon is a great example of a extremely successful coupon business
The operation started in Chicago, and also offers city-specific deals in Boston, New York City, Washington, D.C., and San Francisco. Another branch opens for Atlanta this week, and four more cities (L.A., Detroit, Seattle, and Dallas) are expected to be up and running in the next month. While most of Groupon’s discounts sit squarely in the “disposable income” category, the company hopes to someday harness the power of the masses to be able to negotiate rates on things like health insurance and utility services, as Groupon founder Andrew Mason said in a recent Q&A with The Cheapskate Blog.
Andrew Mason: Groupon features an unbeatable daily deal on great stuff to do in major cities across the United States. We feature the things you’re doing already, but for way less. So in that sense, Groupon is a couple hundred extra bucks in your pocket each month. On top of that, we take those things you’ve maybe always wanted to try and offer them at prices you can’t refuse, giving you the extra push to get out there and do them. Things like whale watching cruises, sensory deprivation tanks, acupuncture, skydiving, even paintball. Businesses use Groupon because we deliver a ton of new customers to their door.
CS: How did Groupon grow out of The Point, which seems mostly about things like raising money for charities and petitioning for social change? How do two seemingly different missions work together?
Questions And Answers…
My older sister is coupon OBSESSED and she has started her own blog where she helps other people plan out coupons and sales that way they make a killing. Anywayz, she’s creating a business card and we need a name for the business. She would like it to be at least two words and no more than four. She would like the first word to be Coupon. The next word or words need to have something to do with how obsessed she is with couponing… I mean, she doesn’t coupon just to get a little off the marked price. She watches sales and coupons and gets nearly everything she buys for under a dollar. Don’t bother with Coupon Obsessed or Coupon Crazed or Coupon Queen ‘cuz I hate the way those sound… I’m searching for something to be unique. I will reward the best answer.