Welcome to the Small Business Ideas Forum! We are a community of over 100,000 small business folks with over 163,000 posts for you to browse. We pride ourselves on being the friendliest forum you will find and we'd love to have you as a member of our community. Please take a moment and register for a free account. If you need any help, please contact Chris Logan.

Small Business Ideas Forum

Small Business Ideas Forum

A friendly place to share small business ideas and knowledge, ask questions, find help and encourage others that are involved in the small business industry. Topics include small business marketing, generating revenue and small business computing.

Go Back   Small Business Ideas Forum > Inspiration & Ideas > What Type of Business Should I Start?
Register Search Today's Posts Mark Forums Read

Reply
 
Thread Tools
Old 18th January 2012, 10:18 AM   #1
CraigNH
Member
 

Join Date: Jan 2012
Posts: 1
Default Is This A Viable Service Idea?

Wow, what a great forum! I'm so glad I found this site....this is my first day and my first post. I'm looking for feedback on a potential side-business idea I thought of to possibly make a little extra money without doing a ton of work - could this be viable??

Yesterday I came across a product called the "talking house". It's a device that's used by real estate agents to record detailed information about a property that's for sale or rent. The "talking house" device is placed inside the property and transmits a continuous loop of a recorded message to a pre-determined FM radio station. When a potential buyer/renter drives up to the property, a sign informs them to tune their FM dial to 107.1 (for example) for detailed information about the property. No need to call the agent for the property info - it's all right there. Also, no need for the agent to field numerous calls for info only - weed out the "window shoppers" from actual prospective buyers/renters.

Does anyone have first-hand experience with "talking house" devices? Are they helpful when trying to sell or rent a property?

My thought was, if the "talking house" device was in fact beneficial to agents, then maybe there's a service opportunity here. If I purchased a number of these devices, I could rent them out to real estate agents and also do the task of recording the message. Are there any real estate agents out there would would find value in this type of service?

I could buy 4 of these units (used) for $56 each off of craigslist right now. So let's say one unit rents for $1 per day(?)....I think it's reasonable that the $56 investment in one unit could be recooped in 3 months (56 days of the unit being used on a property/properties within a 90-day period). Beyond that, everything else goes towards profit. Now what if I had dozens of these talking house units being rented out?

Do you see an opportunity for some side-money to be made with this idea? What am I not thinking of? I'd love to hear your feedback!!

-Craig

CraigNH is offline   Reply With Quote
Register or log in to remove this ad.
Old 19th January 2012, 02:45 PM   #2
The Diamond Pen
Member
 
The Diamond Pen's Avatar
 

Join Date: Jan 2012
Posts: 46
Default

Having moved several times in the last decade, from a buyer's perspective I would love this. You might need to go slightly below $1 a day (maybe $20 a month), but otherwise I like it. Be sure to check the broadcasting laws in your area, though. You don't want the FCC getting involved in an airwaves battle.

__________________
Matt @ The Diamond Pen, Inc.: Custom content and writing services, crafted to exacting standards.
The Diamond Pen is offline   Reply With Quote
Old 19th January 2012, 05:44 PM   #3
Rachelz
Member
 
Rachelz's Avatar
 

Join Date: Dec 2011
Posts: 16
Default What an invention!

Well, I have never heard of it - but big applause to the person who invented the concept. It's highly creative.

I agree with diamond pen - be sure you are thoroughly prepared on how to tap into the radio frequency side of things. No point getting the product and finding out it's going to be a battle to get the signal happening.

I'd also just put a little more thought to your approach. Agents are so desperate to sell properties at the moment that they might not be inclined to lose the chance to 'sell' someone who calls them to find out more about a property (remember - they want to build a contact database).

You would have a much better chance with the rental market due to the massive number of people wanting to rent and the (relatively) small amount of money agents make from renting out a property. Most of them hate this side of things and would look for any opportunity not to field calls all day!

I would consider:

- buying one or two devices for 'show' purposes only. Contact the supplier and ensure you will be able to access more later. Consider that an estate agent could easily buy this device after speaking with you - so if it only exists through one supplier, try to arrange a short term exclusivity arrangement.
- contact local agents and arrange a meeting. Explain the concept, show the device and follow up with an email (protection by paper trail!). Close by asking how many devices they think they would need to cover all of their rental properties at any given time.
- once you close the deal (consider a time-period contract), assure them delivery of the devices within two weeks. Then order what you need.

I know it sounds slightly more complicated this way, but an agent will laugh if you go to them with one device. They might have 20 rentals going...one is not going to cut it. And if you can get a 6 month agreement with one agent to cover all of their rental properties, you are looking at some very decent profits. Especially if you gain exclusivity of the device for your area...how many agents would need to approach you then?

Do your distribution numbers and use it as a benchmark for pricing. $1 a day is not a bad price - but it's a bad way of selling it. Say '$7 a week' or drop it to '$25' a month. Tell them that an hour of an agents time to go and show the property is worth more that. How could they refuse!?

Best of luck...and top concept.

__________________
Business Epiphany
BIG System, Personalized Business Ideas, Motivation and Coaching

Last edited by Rachelz; 19th January 2012 at 05:46 PM.
Rachelz is offline   Reply With Quote
Reply   

Bookmarks


Similar Threads
Thread Thread Starter Forum Replies Last Post
Food Service Idea Tritavius What Type of Business Should I Start? 11 16th November 2010 04:39 AM
Idea - Online Food Delivery Service Carsten68 What Type of Business Should I Start? 5 21st November 2008 02:25 AM
Free Image Gallery Service - Good Idea? joeo Reviews 5 23rd January 2008 03:48 PM
Web Graphics Service Idea RaptorRex What Type of Business Should I Start? 4 18th October 2007 09:51 AM
need opinions on new service idea Decoy What Type of Business Should I Start? 3 29th June 2006 01:29 PM



Thread Tools

Get Updates
RSS Feeds:
RSS Feed for What Type of Business Should I Start? RSS for this Category Only: What Type of Business Should I Start?

RSS Feed for Small Business Ideas Forum RSS for Entire Forum
Forum Rules


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


Small Business Ideas Forum


 
At Your Business - Small Business Directory
Free Business Forms - Prewritten Documents
 
Search Engine Guide
Small business guide to search marketing

 
Small Business Brief
Fetching the Best Small Business Info


Free Links - Free Advertising
Free Guide - Online Directory



Advertise your business here
Contact us for more details!


Semantic Juice
Register now to access free Quick SEO service!


Rocket Lawyer
Sign up for free 7 day trial. Boost your biz!


Buy UPC Codes
Get your products listed online!




All times are GMT -5. The time now is 04:02 PM.


Powered by vBulletin® Version 3.7.3
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Copyright 2004 - 2018 - Privacy