The company setup over 12 months ago to fill a gap locally where businesses want to connect their staff with offers from local service providers, retailers, hotels etc. Its like a private offers portal that only staff in the various large companies can access. To date he has signed up 12 companies with about 10,000 staff between them and has about 130 advertisers.
The cost model is that the larger company pays €999 / year for access and the advertisers pay €250 / year to get access to the 10,000 plus workforce, they must provide an offer to the staff, 10% discount, BOGOF, etc. He says he spent 4 months really hammering it at the start and pulled in 50K but has lost the passion to grow it further.
Im thinking there has to be a better way to monetize this. He already has access to 10,000 staff from multinationals and @ 250 / year there shouldn't be much trouble getting more local businesses on-board.
He is selling the business really cheap in my view. 2K
What would you do?
The cost model is that the larger company pays €999 / year for access and the advertisers pay €250 / year to get access to the 10,000 plus workforce, they must provide an offer to the staff, 10% discount, BOGOF, etc. He says he spent 4 months really hammering it at the start and pulled in 50K but has lost the passion to grow it further.
Im thinking there has to be a better way to monetize this. He already has access to 10,000 staff from multinationals and @ 250 / year there shouldn't be much trouble getting more local businesses on-board.
He is selling the business really cheap in my view. 2K
What would you do?
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