Coupon Business Idea
If you are searching for a great way to make money at home, you may want to look into how to start a coupon business. Coupons are in high demand as people look for ways to save money. A coupon business costs very little to start, but has the potential for high earnings. That makes it a smart choice for home based entrepreneurs.
When you first learn how to start a coupon business, you will discover that there are two principal ways to make money. The first method is where local businesses pay you to include their business coupon in your booklet. The booklet is then freely distributed.
The second method is where local business submit coupons for inclusion into the booklet at no charge, but the booklet itself is sold at a predetermined price. Either way, it is best to concentrate on one method when you first start out.
A home business will require a business license and may require a zoning variance, so check with your local licensing agencies and apply for the necessary permits and licenses.
In addition to properly setting up and registering your business, you will need the following:
- Desktop Publishing Software
- Flair for Design
Seek out and build a relationship with a reliable local printer. Using your own home printer will likely be sufficient in the beginning, but as your customer base grows, it will be more efficient and less expensive for you to work with a professional print shop.
How To Start A Coupon Business – Keys to Success
Learning how to start a coupon business requires that you plan strategically. Intelligent pricing will be essential. Your goal will be to factor in all of your costs and make a profit while still charging an affordable price. Don’t forget to include costs such as your time, printing, supplies, and mailing fees.
Excellent sales and communication skills will give you an edge as you talk to business owners and coupon seekers. When speaking with potential customers, always focus on the benefit they receive if they choose to buy from you.
Use common sense. Rather than including coupons from five different pizza establishments, include coupons from only one. Each booklet should be filled with complementary business coupons, not competing promotions. Business owners expect to see an increase in profits themselves by utilizing your services. If they don’t, they won’t participate again.
Finding Customers And Growing Your Business
Every business with a coupon in your booklet should have a supply of coupon books readily available for consumers. If you are using the free booklet method, make them available at grocery stores, libraries, schools, and other public venues. If you are selling coupon booklets, knocking on doors is one way to go. Approach local organizations who may be interested in using the booklets as fundraisers. Use low-cost ads in the local newspapers to advertise your coupon business.
As more business owners and coupon users become aware of your services, you can start to look for ways to add more profit. One way is to have a professional web site developed and sell coupon booklets online. Another option is to create a variety of themed coupon booklets. For example, design different coupon booklets for diverse target groups, such as newlyweds, parents, college students, or the retired.
If you are enthusiastic, artistic, and people oriented, learning how to start a coupon business is the ideal first step in turning your frugal franchise into a profitable, long-term venture.