What do you think of my business idea

Question

i live in a large area with lot of universities and students. My idea is to create a product similar to the "entertainment" or "dynamte" books where they have local discounts. but my idea is for a student discount card where I go around to local businesses which attract students and as if they would like to be an advertiser and offer a discount to students who use the card.

The cards would be sold to students who would be able to use them for the next year.

In order to sell the cards I would find a club or organization on campus who would want to sell them as a way to raise money for they're club or for some charity.

Cost to student- $10

Organization who sold it would get- $2

I would make $8 (some would cover the cost of the card- gas production printing, the rest would be profit)

Should I charge the businesses to be on the card or should it be free for them.

The draw for the businesses would be free/cheap advertising as well as customers who by saving a few bucks will probably spend a few more.

any other ideas?

what do you think?

Answer 1

Students are some of the worst...the very worst customers on the planet. They don't do anything to help themselves.

So factor into your idea a very large, deeply penetrating marketing campaign to get these cards out. This means Kiosks, perhaps hiring kids to sell them (commission system) ect.

Worse, you'll have the University fighting you at every turn. Any discount to private companies...they see as an alternative to university dining.

I think your idea is sound, and no doubt you've thought about this very carefully. But be advised that these will not walk off the shelves. You'll need an angle. Getting 10 bucks out of these dumb kids won't be especially easy...even if it makes sense.

Ultimately, you want almost every cool kid to have one. That way new freshmen coming to school will WANT to have this card. Think of some interesting, gimmicky way to get this card into 1 or 2 classes, and your residual sales are guaranteed.