Business plan for penny auction website

We estimate an optimistic gross margin over the industry average. We will be successful because of the excellent team we have assembled and the drive and determination of the owners. Almost everyone needs a car to get from point A to B. Many families have two or more cars. Due to the recent success of the new car market, there is a large inventory of used cars available for re-sale. Used car dealers are notorious for unethical sales practices. Customers are inherently cautious and untrusting as a result.

The more we can provide a high-quality sales experience, the more successful we will be. We will follow up and ensure customer satisfaction.

How to Start an Auction House Business

We will rely on these customers for an excellent reference to other car buyers. This company will build an excellent working relationship with our suppliers and customers. It will provide job satisfaction and fair compensation to its employees, and a fair return to its owners.

Your business plan can look as polished and professional as this sample plan. It's fast and easy, with LivePlan. Don't bother with copy and paste. Get this complete sample business plan as a free text document. Download for free. Integrity Auto Sales Executive Summary executive summary is a brief introduction to your business plan.

It describes your business, the problem that it solves, your target market, and financial highlights. Market Almost everyone needs a car to get from point A to B. Competition Used car dealers are notorious for unethical sales practices. Why Us? Financial Highlights by Year. Start your own used auto sales business plan Start your own business plan Start planning. Buy Now.Late last year, I encountered what may be nearly perfect evil in business plan form: Swoopo.

What is Swoopo? It's a class of penny auction, where bidders pay for the privilege of bidding: [Penny auctions] offer new televisions, computers, game consoles, appliances, handbags, gold bars and more for starting prices of a penny to 15 cents, depending on the site.

Shoppers use one each time they place a virtual bid on a product. Each bid raises the price of the item by a penny to 15 cents, depending on the site. Some have automatic bidding functions similar to eBay.

And, there is the real possibility of using all your bids without getting the product. Auction winners generally get their item for about 65 percent off retail but could save as much as 98 percent if there are few bidders. Since the sites make the bulk of their revenue from the purchase of bids, they profit most when they feature a product that elicits a bidding war. One of Swoopo's investors recently contacted me via email, and I had to marvel at the size of the cojones you'd need to associate yourself with this kind of nastiness.

He wanted to talk to me on the phone about positioning, and staunchly maintained that there was no element of chance in a Swoopo "auction". Once I stopped laughing, I told him these were my terms: If you believe in Swoopo, then data speaks much louder than words.

Let's conduct an experiment. Doesn't have to be you, personally. If Swoopo isn't a game of chance or lottery, a skilled player should be able to win at least one item in this experiment, yes?

I'd be happy to run this experiment and write about it on my blog. Just let me know what terms you think make sense. I haven't heard from him since.

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Now I'm curious if anyone is willing to take on this experiment, under the same terms. Because Swoopo is, at its heart, thinly veiled gambling. The companies backing Swoopo and other Penny Auction sites are hoping unsophisticated regulatory agencies will buy the "It's not a game of chance" argument if it's wrapped in a lot of technical intarweb mumbo-jumbo they can't fully comprehend.

business plan for penny auction website

But we're no government flacks. We're programmers, and many of us develop websites for a living. It's a bit tougher to pull the wool over our eyes. In Trying to Game SwoopoJoshua Stein pulled out everything in his programmer's bag of tricks to win a Swoopo auction -- and, predictably, failed. With all of this data available, I concluded that there is no way to reliably win an auction on swoopo.Customers need to want what you are selling and your product needs to solve a real problem.

But, ensuring that your product fits the needs of the market is only one part of starting a successful business. This is where your business model comes into play.

At its core, your business model is a description of how your business makes money. These tools let entrepreneurs experiment, test, and, well, model different ways that they could structure their costs and revenue streams. Spreadsheets let entrepreneurs make quick, hypothetical changes to their business model and immediately see how the change might impact their business now and in the future. As you can see, a business model is simply an exploration of what costs and expenses you have and how much you can charge for your product or service.

Penny Auction Website Business Plan

A successful business model just needs to collect more money from customers than it costs to make the product. This is your profit—simple as that.

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New business models can refine and improve any of these three components. Maybe you can lower costs during design and manufacturing.

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Or, perhaps you can find more effective methods of marketing and sales. Or, maybe you can figure out an innovative way for customers to pay.

What Is a Business Model? Business Models Explained

Instead, you could take an existing business model and offer it to different customers. For example, restaurants mostly operate on a standard business model but focus their strategy by targeting different kinds of customers. In fact, the vast majority of businesses use existing business models and refine them to find a competitive edge. The advertising business model has been around a long time and has become more sophisticated as the world has transitioned from print to online.

The fundamentals of the model revolve around creating content that people want to read or watch and then displaying advertising to your readers or viewers.

In an advertising business model, you have to satisfy two customer groups: your readers or viewers, and your advertisers. Your readers may or may not be paying you, but your advertisers certainly are. An advertising business model is sometimes combined with a crowdsourcing model where you get your content for free from users instead of paying content creators to develop content.

The affiliate business model is related to the advertising business model but has some specific differences.

How to setup a WordPress Auction website using WPAuctionSoftware (WordPress Auction Plugin)

Most frequently found online, the affiliate model uses links embedded in content instead of visual advertisements that are easily identifiable. For example, if you run a book review website, you could embed affiliate links to Amazon within your reviews that allow people to buy the book you are reviewing.

business plan for penny auction website

Amazon will pay you a small commission for every sale that you refer to them. Examples: TheWireCutter. Brokerage businesses connect buyers and sellers and help facilitate a transaction. They charge a fee for each transaction to either the buyer or the seller and sometimes both. One of the most common brokerage businesses is a real estate agencybut there are many other types of brokerages such as freight brokers and brokers who help construction companies find buyers for dirt that they excavate from new foundations.

Some businesses take existing products or services and add a custom element to the transaction that makes every sale unique for the given customer. For example, think of custom travel agents who book trips and experiences for wealthy clients. Crowdsourcing business models are most frequently paired with advertising models to generate revenue, but there are many other iterations of the model.

Threadless, for example, lets designers submit t-shirt designs and gives the designers a percentage of sales. Companies that are trying to solve difficult problems often publish their problems openly for anyone to try and solve. Successful solutions get rewards and the company can then grow their business.Jump to content.

You currently have javascript disabled. Several functions may not work. Please re-enable javascript to access full functionality. This forum section is to act as a "clearinghouse" for info as to whether or not penny auction items have been received by bidders. Community Forum Software by IP.

Board 3. Javascript Disabled Detected You currently have javascript disabled. Background Image. Site specific penny auction discussion and reviews! A fun place to discuss penny auctions and help other bidders determine whether or not a site is legit or a scam.

Join us! Load more topics. Reason: Delete From Forum This option completely removes the post from the topic. Sign In Need an account? Register now! I've forgotten my password. Remember me This is not recommended for shared computers. Sign in anonymously Don't add me to the active users list. Are peo By Zan 28 Aug Jump to content. You currently have javascript disabled. Several functions may not work. Please re-enable javascript to access full functionality.

I believe that the more penny auction bidders that come together and post their honest experiences, exposing the shady-scam penny auction sites, the less and less shady-scam sites will stop being the majority in the penny auction industry. Stand with me. Follow us on Twitter! Like us on Facebook! To the Scam Artists: Enough is Enough. Ok, sadly I can't find where I would be able to PM you. But yeah I'll take your template, doesn't hurt to have it. Thanks for the help. Community Forum Software by IP.

Board 3. Javascript Disabled Detected You currently have javascript disabled. Background Image. Please log in to reply. This is a shot in the dark. But does anyone have or seen where you can find or would be willing to share their business plan.

Any special things that you would not want to share I would understand, but I'm looking for at least the basic plan for a PS site.

business plan for penny auction website

I've written plenty of business plans in the past for the company's I've worked for but those were established businesses. Its much different writing a plan from the ground up so I was hoping to compare with one written for this industry. Any thoughts? Hello chewyma! Glad you joined us, this is a really good question too. Hi chewyma, I have also searched around for penny auction business plans. Long story short, you will not find much at all through normal search methods.

What I recommend is utilizing a freelancing site, such as elance.Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies.

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business plan for penny auction website

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Remember me This is not recommended for shared computers.

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