You can have a money-making home based business when you learn how to start a coupon business. In today’s economy, people are trying to save money any way they can, and businesses need customers. You are able to bring the two together for their mutual benefit with a coupon business. Because this business is in great demand and costs very little to start, the potential for earning good money is high.
As you learn more about how to start a coupon business, you will see that there are a couple of ways coupon businesses can generate revenue. In the first model, businesses from your local area will purchase space in your coupon book. These books can then either be sold or given away to consumers for free.
Another method is where businesses place their coupons in your book at no charge, and customers buy the books from you. The most common, and probably most lucrative model is the first model, as you are collecting payment on both ends, and you can offer the coupon books at a lower price point, which helps struggling consumers.
What You’ll Need to Succeed
Even though you will likely run a coupon business as a home based business, you will still need to obtain a business license, and you might need a resale license, to collect state sales tax. Get in touch with your licensing authority for details on the requirements for your area.
As for equipment and startup expenses, you probably have most of what you need, including a reliable computer and printer, some graphics software (which can be found for free online), and basic office supplies.
If you are not adept at graphic design, you might need to find someone to outsource this work to, which will cut into your profits somewhat, but will still allow you to make a nice live, as your overhead is so low.
Aside from your customers, the relationship with your printer will be the most important relationship you have. They are likely to give you a discount for regular orders, and you will be relying on them to finis the printing in time to deliver your coupon books when promised.
The number one skill you should possess to do well with a coupon business is sales. You or someone you hire will be responsible for getting advertisers to place their coupons in your coupon book, and the best way to reach them and offer this opportunity is to go to their place of business on a sales call. If you are not comfortable selling, you’ll need to hire a sales person, but, again, that will cut into your profits.
So there might be more to learning how to start a coupon business than you originally thought, but the rewards, in the form of a thriving business, can be well worth the time and effort.