Starting a coupon business requires a great deal of effort, dedication, and most importantly passion.
If you're interested in how to sell coupon, or selling coupon online, you can use this page as a guide for everything you'll need to know.
|Min Startup Costs||Max Startup Costs|
|Office Space Expenses||$0||$7,000|
|Employee & Freelancer Expenses||$151||$352|
|Business Formation Fees||$5,600||$20,400|
|Equipment & Supply Expenses||$63||$200|
|Retail Business Expenses||$1,250||$11,650|
|Advertising & Marketing Costs||$75||$5,036|
|Total Startup Costs||$7,874||$69,697|
|Living Rich With Coupons||livingrichwithcoupons.com||#84,485|
|afullcup - Grocery Coupons & Deal Forums||afullcup.com||#166,442|
|Best Coupon Hunter||bestcouponhunter.com||#179,663|
|Personalized Christmas Ornaments||ornamentshop.com||#194,147|
|Flexibility||You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.|
|Ability to start your business from home||It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!|
|Rewarding work||Starting a coupon business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.|
|Traffic to your website||A coupon business gives people a reason to visit your website and to keep coming back to you!|
|Meaningful business connections||You never know who you will meet as a coupon business. This could be the start of an incredible business opportunity!|
|High customer retention rates||Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.|
|Motivation of employees||If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.|
|Longer Sales Process||A coupon business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.|
|Low margins||The gross margins for your coupon business are typically around 40%, which can make it more challenging to incur new expenses and maintain profitability.|
|Taxes||As a coupon business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.|
|Churn||In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.|
|Time commitment||With starting a coupon business, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.|
Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.
Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.
The affiliate typically gets a unique link where clicks and conversions can be tracked.
Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.
Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.
According to Nielsen, 92% of people trust recommendations from friends and family.
Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.
Social media advertising is the use of social media platforms to connect with your audience with the objective to build your brand, increase sales, and drive website traffic.
According to Oberlo, approximately 48% of the global population use social media, and the number is ever-growing.
Therefore, social media allows brands access to cost-effective advertising by enabling them to interact with a large audience.