Hey
After reading TMF , I tried to become more aware of the problems and opportunities that may occur in my everyday life, so I could use it as my "open road".
I stumbled on a potential business idea when talking to a friend, they expressed to me their discontent on missing out on the latest special at their favourite restaurant.
This was when I came up with the idea of an app that alerts you of food deals from restaurants and take away places in your area.
I'm a genius I thought until I found out that there was already an app like that in my country on the app store (recently it's no longer there).
The app had 10k downloads and seemed to have only advertised deals in only one location in the country, creating a massive void for the rest of the country.
This app was well received looking at its reviews but it later disappeared on the store. I suspect because of its business model (there was no business model) it wasn't able to sustain itself and scale the app throughout the country.
So after some thinking i decided the best business model for this app would be if I charge restaurants and franchises a monthly payment to put their food deals & specials on the app, while aslo making the app free on the store.
The money would be used to sustain the app and increases it's users through advertising etc so we can attract more resturants and franchises.
More users = more resturants advertising
This idea I believe fills the CENTS commandments, I will have control of the app, it's easy to scale, doesn't take my time if it's executed properly and there is a need for it in my country. Only problem is that I don't know if resturants, fast food franchises and take away places will actually pay monthly for it since it mostly solves a need for the user than the restaurant owners.
But then again being able to advertise their deals to a larger audience may mean more customers for them...
Please tell me what you guys think?
-NK
After reading TMF , I tried to become more aware of the problems and opportunities that may occur in my everyday life, so I could use it as my "open road".
I stumbled on a potential business idea when talking to a friend, they expressed to me their discontent on missing out on the latest special at their favourite restaurant.
This was when I came up with the idea of an app that alerts you of food deals from restaurants and take away places in your area.
I'm a genius I thought until I found out that there was already an app like that in my country on the app store (recently it's no longer there).
The app had 10k downloads and seemed to have only advertised deals in only one location in the country, creating a massive void for the rest of the country.
This app was well received looking at its reviews but it later disappeared on the store. I suspect because of its business model (there was no business model) it wasn't able to sustain itself and scale the app throughout the country.
So after some thinking i decided the best business model for this app would be if I charge restaurants and franchises a monthly payment to put their food deals & specials on the app, while aslo making the app free on the store.
The money would be used to sustain the app and increases it's users through advertising etc so we can attract more resturants and franchises.
More users = more resturants advertising
This idea I believe fills the CENTS commandments, I will have control of the app, it's easy to scale, doesn't take my time if it's executed properly and there is a need for it in my country. Only problem is that I don't know if resturants, fast food franchises and take away places will actually pay monthly for it since it mostly solves a need for the user than the restaurant owners.
But then again being able to advertise their deals to a larger audience may mean more customers for them...
Please tell me what you guys think?
-NK
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