Should I start my own Price Comparison website?

Question

I am thinking that due to the current state of the economy the more price comparison websites are made available, the more help this is to people trying to save money? on fuel, gas, electricity, food and even cars- car insurance.

What does everyone else think?

Answer 1

Sounds like a good idea but be prepared for a slow start.  I've just started a buy, sell, trade, and advertise site and trying not to get frustrated at the "no interest newness" of people can be stressful.  It's something you have to have passion about and be prepared to experience some downfalls on.  Also, be prepared to do MAJOR research which could end up costing you more than you make at first.  If this is something you can invision doing for the long run, especially during the rough newness phase, you might be able to make it work.  

Also, if you plan on charging fees, keep in mind the current state of the economy and why people are coming to your site in the first place.  If you play the cards right, you might be able to have businesses come to you with their prices to put on your website in the long run.

Answer 2

I've gone through the same thing -- still a bit painful,here is the resource help me a lot.http://carinsurance.expertsupport.info/a...

Answer 3

Price comparison sites are a very useful tool for online shoppers. Hence, even big companies are wanting to have their own price comparison sites

Yahoo bought Kelkoo, a leading European price comparison service, in 2004

eBay acquired Shopping.com in 2005 for about $620 million

Experian acquired PriceGrabber also in 2005 for $485 million

Notice the price tags these big boys paid for the price comparison sites.

Your challenge will be creating a search engine that will gather the price information from the online stores. And that will be a TOUGH challenge.

If you have the programming skills or the deep resources you need, this is a very good space. But if not, it will be extremely hard to make it work -- unless you focus on niches (e.g price comparison site for baby goods only)