westhope84
01-22-2014, 02:16 AM
Wassup, everybody!
Working full-time plus as a service coordinator at an apartment complex with 120 residents has continued to be a justification for my failure to even really attempt to get anything going on the side. However, my grant that supports my current position runs out in a few months, and I'm considering getting back into the game.
As some of you may know, I was interested in doing a dining card. I know this model works, but there's a lot of selling to consumers involved to create a substantial income.
My thought (perhaps preposterous, perhaps awesome): What if we featured 20 restaurants on a 9x12 card with a "spend $30 on food, get $10 off" exclusive discount, redeemable once at each restaurant? This particular deal is huge in the dining card world right now (check out the massively successful City Dining Cards franchise). It gets people in the door and doesn't completely massacre the restaurant. I have a layout that would allow room for a wallet-sized dining card could be included on the 9x12 to be cut out by the consumer.
I feel that this method would essentially guarantee a fantastic response rate for restaurants. There's so much value for consumers, and restaurants know that a tremendous number of people are going to be coming through the door because potential customers aren't even having to worry about dishing out $20 for your typical discount dining card. Distribution is guaranteed with this model.
So where does our profit come from? The restaurants.
How many postcards should be sent out? Well, why not as many as you can? In my city, I could nearly saturate every last household by mailing 100,000 pieces, Yep, that's a lot. Can you imagine the response rates?
Let's say a particular restaurant featured on the card gets a .05% response. That's over 1000 people (assuming a bit over 2 persons per household. That's big stuff. If the restaurant does its job, many of these folks will come back.
So, the trick is selling 20 (or however many you want) restaurants on the efficacy of this method. The number I have floating around in my head is $3500 per spot ($1750 down, $1750 upon mailing). 3.5 cents per household for a piece that promises great response. That's 70k for 20 spots. I'm not sure what mailing/printing costs are running currently, but the total cost would be well below 30k, right? So, we're talking quite a payday. Could you do two per year?
Well, that's it. Is this a goofy idea? Would restaurants pay $3500 with the right pitch? You tell me. I sense a tremendous amount of potential, though. I covet your feedback.
Working full-time plus as a service coordinator at an apartment complex with 120 residents has continued to be a justification for my failure to even really attempt to get anything going on the side. However, my grant that supports my current position runs out in a few months, and I'm considering getting back into the game.
As some of you may know, I was interested in doing a dining card. I know this model works, but there's a lot of selling to consumers involved to create a substantial income.
My thought (perhaps preposterous, perhaps awesome): What if we featured 20 restaurants on a 9x12 card with a "spend $30 on food, get $10 off" exclusive discount, redeemable once at each restaurant? This particular deal is huge in the dining card world right now (check out the massively successful City Dining Cards franchise). It gets people in the door and doesn't completely massacre the restaurant. I have a layout that would allow room for a wallet-sized dining card could be included on the 9x12 to be cut out by the consumer.
I feel that this method would essentially guarantee a fantastic response rate for restaurants. There's so much value for consumers, and restaurants know that a tremendous number of people are going to be coming through the door because potential customers aren't even having to worry about dishing out $20 for your typical discount dining card. Distribution is guaranteed with this model.
So where does our profit come from? The restaurants.
How many postcards should be sent out? Well, why not as many as you can? In my city, I could nearly saturate every last household by mailing 100,000 pieces, Yep, that's a lot. Can you imagine the response rates?
Let's say a particular restaurant featured on the card gets a .05% response. That's over 1000 people (assuming a bit over 2 persons per household. That's big stuff. If the restaurant does its job, many of these folks will come back.
So, the trick is selling 20 (or however many you want) restaurants on the efficacy of this method. The number I have floating around in my head is $3500 per spot ($1750 down, $1750 upon mailing). 3.5 cents per household for a piece that promises great response. That's 70k for 20 spots. I'm not sure what mailing/printing costs are running currently, but the total cost would be well below 30k, right? So, we're talking quite a payday. Could you do two per year?
Well, that's it. Is this a goofy idea? Would restaurants pay $3500 with the right pitch? You tell me. I sense a tremendous amount of potential, though. I covet your feedback.