Starting a coupon business can be very lucrative. Especially now with the economy being down. Individuals are looking for ways to save at every turn and coupon booklets can help provide that. Imagine if you could buy one book that would save you money when you 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. Here is how you can begin a coupon business:
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.
Optional: 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.
- If you don't have enough businesses that have agreed to sell the book, you are going to need to do some advertising. Write an ad for you local papers and tell the customers where they can pick up a book.
- Be sure to carefully consider all costs and whether your town already has a coupon book or not. You don't want this venture to lead you into debt.
Alicia Bodine has been a professional writer for 13 years. She has produced thousands of articles for online publications such as Demand Studios, GoBankingRates and WiseGeek. Bodine is passionate about gardening, travel, education and finance. She has received awards for being a top content producer.