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Old 7th June 2016, 08:25 PM   #1

Join Date: Jun 2016
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Default Seeking Opinions On Possible Business Investment

I have a friend that has started a company a while back that advertises for local businesses for free. The idea is to get discounts from those businesses, turn around and sell memberships to locals to use the discounts. Membership fees are fairly low a month. He's been at it for a while and I have to give it to him, some of the discounts are pretty dang good, I even pay for a membership but I've yet to use it (I might have a reason why in my con list). He's a really good salesman, can talk to about anyone and convince them to do really anything. I've been watching him do this for almost a year but it looks as if he's walking up an escalator going down, and I may know some of the reasons why.
1. He doesn't have the funds to really advertise/invest back in the business
2. He's only using fb for advertisement.
3. His website is not 100% legitimate.. Could be better with an actual domain name.
4. He has good ideas and actually quite a few clients (I guess you call them non paying clients) but doesn't really have much of an idea about marketing/seo/social media/online or technical skill sets.
5. I don't think the layout of the process to get the discount is quite right, but it's not bad, but needs a tweek.

There are many more cons that I could go into but I think these are the main concerns. I've been wanting to get back into business lately. I've been part of partnerships and have had a few of my own start ups. More brick and mortar type of businesses (3 separate ones) and they were successful but somewhat short lived due to unforeseen and poor judgement making events.

Now I'm older, have little more experience, I think I can fill in some of the missing gaps that my friend is lacking. At first I wasn't sure if this business plan was a good idea and sounded kind of silly. I think it takes a lot to convince somebody to spend money to save money, but there really is a savings. One visit to a local business can pay for the membership. There might be a way to get around that curve.

My proposal would be to invest money (I have a steady job) and fill in some of the gaps I think he's lacking. I'm not a marketing guru or anything by any means but I played with affiliate marketing a while back and this would be something I would be willing to study and learn more as it went. I also have a lot more web and computer experience than he does.

Again, main focus is supporting local business, no franchises, Ect. Any thoughts, ideas, suggestions? Or is this something that may not be worth to get in to. We live in a fairly large metropolitan area, however I'd say target market around 30-50k people.

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Old 30th August 2016, 11:11 AM   #2
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Default Business Investment Question

I can 't speak for everyone, however I have always been most successful when I am able to work ALONG SIDE my money. For that reason I avoid wall street investing.

Your friend may be a good salesman, but not all good salesmen are good businessmen, and visa versa. If it were me, I would want to see more business savvy from the potential partner (your friend) than what you have shared, since he would be the active partner with you having a job, making you more of a passive partner.

But then I am also a self proclaimed control freak. Just my take on it.

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Old 14th September 2016, 02:00 PM   #3
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Default Social Media Marketing

Try getting visibility for the site on social media networks, such as FaceBook.
Create a page (business page) and join different groups and start communication, especially with locals.

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Old 19th September 2016, 02:56 AM   #4
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Its an investment because you need time to establish your business and build relationship with the target audience then conversions will follow.

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Old 19th May 2017, 06:36 PM   #5
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Do you think the business has the potential to become more feasible if you partner with your friend?

It's easy to invest your money in something that you believe in. Just make sure working closely with a friend doesn't impair your business judgment and your objectives as far as the business goes.

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