Need a daily deals business plan? Coming out of relative obscurity, the so-called “daily deals†business model is a remarkable new form of advertising platform where merchants enter into an agreement with a deal company that pushes their coupon (typically a 50% discount on food, merchandise, etc.) to a group of registered consumers via email. This simple model, first popularized by Groupon and later mimicked by Living Social, Google, and a few other follow-on competitors, has proven to be a major hit with consumers. Is the market too full? It's hard to tell, but if you want to try your hand at this business model, you'll need to start by developing a strong business plan. Write about the premise itself and the success this model has seen in recent years. Then delve into:
• The way your business will differ (if at all)
• What permitting, trademark, or regulatory issues you might face
• The development timeline and costs
• Your competitive advantages, if any
• Your experience with other businesses
The plan should have a complete bio section that looks at your background and the success of you and your team (and advisors, if applicable) in other businesses. Your plan will also need a financial model that shows a minimum of five years of projected performance metrics and benchmarking. A use of funds, revenue forecast, break-even point, profit and loss, cash flow, and balance sheet should all be included. Also consider your exit strategy and the proposition you wish to make to the investors you will bring on board. Need help here? MasterPlans has written business plans since 2002 and has worked on business models like this one many times. Call a consultant today and tell us about your idea: 877-453-2011.
