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Author Topic: "Bit Coin Bargains" -- New Venture  (Read 1154 times)
Syncopate
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May 18, 2011, 01:23:52 AM
 #1

Hi everyone,

It's come to my attention that Bitcoins have great potential for risk taking entrepreneurs. With this being said, I'd like to propose a website dedicated to daily bitcoin bargains. This business/website would be based off of being able to order large but limited quantities of products (from B2B websites)This would enable Bitcoin Bargains to sell for low prices of bitcoins of course. Think about it, one day of leaving your computer running while you're out for the day and being able to click a couple buttons and have a new gadget, or product arrive at your address quickly. Many websites have used this business model with great success, such as Gilt group, they offer designer and luxury goods for a fraction of the price, since the window of time to purchase the product is limited they rely on impulse buys. Each product is only available for a day time and then the next day a new product is being sold. This is what Bitcoin bargains buisness plan would be. 

#1 Capital - Capital is key to a start up business, I'm personally going to throw down about 1,000 ~ 2,000 USD to create this business and hopefully I can find some partners who would like to help in this expanding "bit coin" economy. What we would have to do is raise enough capital to buy products at dirt cheap prices -- The capital would also be used for advertising on Bit Coin websites, hosting plan(s) and a dedicated URL (the actual name hasn't been decided.)

#2 Plan & Purchase - This process would have to be planned and purchased awhile before the product would be sold on the website. I'd like to keep inventory, although we could arrange deals to drop ship the products to the customers doorstep ( Personally I'd like to keep an inventory to test & flaunt the item to customers each day: This would be great so we could take pictures of the items /  create youtube videos of the products in action as well.

#3 Inventory - Since this website is limited, and it would start off small / slow I'd like to keep the risk of keeping large amounts of inventory at a minimum, so It would be nice to start low and small with items like USB memory sticks, Optical mice, Mp3 players, video games etc. - Then offer larger items like tablets, netbooks, desktop computers, TV's, blue ray players, video game systems & more. I currently have a small apartment but it has plenty of storage space, though the ultimate goal would to eventually purchase or rent an office & space for the website..)

#4 Product Sales - Each day of the week would have a new product. The website would have to be able to track and change the number of sales the quantity button would subtract the amount after each purchase. Quantity 100 -> Quantity 99, duh. ^^; The price of the product would be based off the MtGox market price, it would have to fluctuate with the paper currency the inventory is purchased in.  we'll set our rates @ the same as MtGox so we can easily trade our bitcoins back to USD which will enable us to buy a larger stock. Eventually our deals will have to be planned weeks/days/months in advance due to shipping & fluctuation of bitcoin prices.

What if the items don't sell? It could always happen, but we could always throw them back into the weekly rotation, or create a "super deal saturday" or something to that extent where we'll lower the price by a fair amount and sell all of the leftover items from that week + possibly create "package deals" where you can order multiple deals at once (whatevers left over)

I'd like to give deals on bitcoin farming computers & cpu graphic cards.. I'd like to see the website VERY simplistic and easy on the eyes, no clutter.. Maybe make the website invitation only so it feels very exclusive and limited, If someone invites someone else they could receive a discount on their next purchase, or maybe a free small gift..

Anyways, I'm just looking for feedback, advice, partners, basically anything. I've got a great feeling that this could work, I'm sure there will be lots of competitors, or even someone who reads this right now could whip up a website and steal the already "stolen" idea hah Smiley

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May 18, 2011, 01:33:06 AM
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Interesting idea, I'd be happy to partner with you if you like, I've had a fair experience with html and php so I could easily design the site if you would like.

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May 18, 2011, 01:47:20 AM
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Seems good to me.

I'm sure there are pros and cons, but you could limit your exposure and risk by doing one item until it sells out. That way you can focus the whole site on one item at a time. Pictures videos and reviews all making one thing look great. You could potentially get to the point that people will give you special deals to pimp their product. You could archive all past items and send people straight to the source after your stash runs out.

I guess a downside would be if you have a dud and have to mark it as a failure and move on. I guess you could go super cheap after a certain time, but you don't want people to get used to that or they may wait for it.

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May 18, 2011, 02:37:00 AM
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It would be cool if you could lock the price in BTC. There are ways to do this without exposing yourself to much risk.

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