The traditional way of running a retail business is that the seller names the price and then the customer decides whether he is prepared to pay it.
Thanks to the internet, some modern businesses are turning the model on its head. For example, Buystand enables extreme sports fans to name their own for products and accessories at the start of the season rather than waiting for the spring sale.
Customers create an account and then browse products for sale. When a bid is made, Buystand put it to their panel of retailers to see whether any are prepared to match the price.
If a taker is found, the customer is charged the bid price and the retailer ships the product. Both parties benefit; the customer gets a discounted price and the retailer makes a sale he would otherwise have missed at a price he’s happy to accept.
It seems to me that there’s room for a business operating this type of model in myriad markets. If there isn’t already one serving a market you’re familiar with, this could be worth investigating further?
Motivational Quote Of The Day
“Sooner or later, those who win are those who think they can.”
Paul Tournier
Alternative Quote Of The Day
“A spa hotel? It’s like a normal hotel, only in reception there’s a picture of a pebble.”
Rhod Gilbert
Calculated Profits
It’s not unusual for groups of consumers to have quite transient needs, and when this happens, a business opportunity often opens up. Students are one such group.
They often study a subject for a short period, and are required to source quite expensive resources, which they will only need for a short period of time. Previously, we’ve talked about services set up to rent books to students, thereby negating the need for them to make an expensive purchase.
A Canadian company has spotted another need they can satisfy in a similar way-by renting out expensive graphic and financial calculators. Students often need these for just a couple of classes and can save 70% by renting rather than buying. When the rental period is complete, they simply mail them back to the company.
Today’s National Day
NATIONAL VISIT YOUR RELATIVES DAY!
PUBLISHERS NOTICE
Hello,
My name is Michael White, and what I’d like to share with you now is a
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Please let me first put your mind at rest about a few things…
There’s no limit to the number of times you can use this under one person’s name. You could use this secret regularly…
. You DON’T need to already have a bank account with a
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. You DON’T need a credit rating or be at any particular earnings
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. You DON’T need a computer or any technical know-how. You
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NOBODY else knows this secret because I discovered it – through
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system into letting you retire early…
Take A Look HERE
Very Best Wishes,
