15 items | 7 visits
Donnahill's List: college daily deal business model
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Dec 02, 11
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Daily Deal Disappearing Act: One-Third of Deal Sites Sold or Closed This Year
@bradrtuttleSeptember 19, 2011 -
he business model hasn’t been working for many companies, especially smaller ones that have struggled to make names for themselves. And so, many sold out to larger businesses or just closed up shop.
Major daily deal sites that are very much still in business, meanwhile, are trying to figure out how to expand their offerings to attract new customers—or at least some attention. Last week, LivingSocial offered the first national deal on groceries, and the week before that, Groupon had the first-ever daily deal on college tuition. Whether these deals come to be viewed as innovative, ahead-of-their-time moves or desperate and misguided jump-the-shark type attention grabbers remains to be seen.
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Now, timed to coincide with what’s the first week of college for many students, Groupon knocks nearly 60% off tuition for a graduate course at a Chicago-area university.
Groupon began offering the first-time-ever special tuition deal yesterday. Normally, the three-credit graduate course Intro to the Profession and Craft of Teaching runs $2,232 at the Chicago campus of National Louis University. Sign up for the course through Groupon, though, and the course costs just $950.
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Dec 02, 11
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The Tie Between Daily Deal Sites & Education
September 08, 2011 by<!-- .entry-meta -->Scratch college prepaid accounts or scholarships, and turn to Groupon to help pay for your college tuition. That’s right, the coupon craze has now reached the market for students struggling to pay their tuition. As a Daily Deal site, Groupon is looking for ways to branch out by experimenting with unique, discounted vouchers for purchases other companies, such as Living Social and Yipit, have yet to dip into. What’s special about this deal is that it embraces the importance of education in our society. Knocking nearly 60 percent off tuition allows college to be more realistic by eliminating the panic of taking that financial plunge many veer away from.
Anyone paying for college tuition, for themselves or their children, would appreciate the value of this deal. Those reading about this are probably thinking this is too good of a deal to be true, and I hate to break it you guys, but it kind of is. This deal is exclusively for students taking an entry-level graduate teaching course at Chicago-based institution, National Louis University. The deal went live yesterday, Tuesday, September 7, discounting the three-credit-hour introductory course from $2,232 to $950.
Whether or not this concept works, the idea behind it is to provide the initial step toward pursuing an education. If it is successful, we could be looking at deals similar to Groupon’s at universities across the nation. This goes to show the emphasis social media and other marketing tools have on society. Just think about the possibilities, they’re endless!
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Textbook Rental Company Chegg Adds Daily Deals For Students
Hoping that students will come to rent A Concise Guide to Macroeconomics and stay for the discounted pizza, Chegg is launching Chegg Deals, a daily deal site aimed at the college set. Daily deal sites aimed at undergrads have struggled.
Chegg Deals is initially launching in Tempe, Ariz.; Atlanta; Miami; and New York City and has partnerships in place with “Capitol One, Dr. Pepper, MTV, Livescribe and Microsoft,” TechCrunch reports. A look through the site shows deals on pizza, yoga, paintball and beauty products. None of those seem particularly geared toward students (except maybe the paintball), but TechCrunch says the site will eventually offer deals on “textbooks and other educational resources” and I’ve asked Chegg for more info.
Chegg, which launched in its current form in 2007, has raised over $200 million in funding and says it’s used on 7,000 college campuses.
Many other daily deal sites for students have launched in recent months, and many have folded—a scan of the first 15 sites on this list reveals that several are defunct. LivingSocial launched a partnership with social learning site Koofers to bring daily deals to college campuses last November, but that program is no longer running.
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Simple Tuition Inc. announced the launch of their student deals site today which will offer discounts on products and services that they believe students can not live without. Simple Tuition Inc., a Boston based company, leading provider of tips, advice and interactive tools that help students save on college-related expenses, serving more than 20% off college students in 2010. Most college students only budget for big items, like tuition, but forget about smaller expenses that add up quickly and catch students off guard, ultimately leading them to ask parents for money or take out more loans so they do not run out of money.
Today, with the launch of the new service, they are offering a $10 for $20 deal for shoebuy.com. They will announce deals each week to help students save on items ranging from textbooks to posters. Students can see deals and sign up for notifications at simpletuition.com/deals.
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Wednesday, November 16, 2011
CollegeBudget Makes Empact100 List
CollegeBudget.com has just been featured in the Empact100 list, recognizing the top 100 companies run by young entrepreneurs age 30 or younger who impact our economy. As a result, the CollegeBudget team has been invited to a recognition presentation at the White House. CollegeBudget is a startup dedicated to making college more affordable by implementing student discounts and collective buying in the retail, textbook and student loan space. More simply, they are like the Groupon for college, specializing in college daily deals.Our own CampusBuddy founder, Mike Moradian, is also the co-founder and president of CollegeBudget. If you have any questions that you would like to ask the White House, please message us or post a response to this message.
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One startup called Uscoop recently launched in Washington, D.C. They offer a private college lifestyle and flash sale website. The site was founded by the team of September Rinnier, Madeline Moore and Jocelyn Gailliot – two UPenn ‘09 graduates and a Brown alum.
The site serves two purposes. First, it has an editorial focus in which students from across the country are profiled in its “Campus Style Watch” and “Campus Cribs” editorial sections. Uscoop campus reps and student paparazzi are integral to the company’s growth models while they look to garner the attention of the college campus. Photography majors regularly submit pictures that capture their campus vibe, while journalism students help to maintain the authentic voice behind the feature editorials.
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Second, they inspire 48 hour deals on online retailers. Uscoop offers exclusive vouchers on over twenty up-and-coming brands and big-name retailers, all of whoome are looking to connect with the young demographic. Products range from clothing and accessories to bedding, electronics, and services all relevant to the college lifestyle. Unlike other online discount websites, brands provide discounts on current merchandise for students, as opposed to last season’s overstock inventory.
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If there were College Savings in it, would you Study where the Daily Deals Were?
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Higher education is more expensive now than it ever was before – not least because the government in most states is broke and colleges don’t have the kind of endowments or grants that they used to be able to rely on. Well, group buying daily deal websites like Groupon may have something to offer here. In a recent daily deal, Groupon just announced spectacular college savings at the National Youth Louis University in Chicago. You get more than half off the Introduction to Teaching course at the college.
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Textbook Rental Company Chegg Adds Daily Deals For Students
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Hoping that students will come to rent A Concise Guide to Macroeconomics and stay for the discounted pizza, Chegg is launching Chegg Deals, a daily deal site aimed at the college set. Daily deal sites aimed at undergrads have struggled.
Chegg Deals is initially launching in Tempe, Ariz.; Atlanta; Miami; and New York City and has partnerships in place with “Capitol One, Dr. Pepper, MTV, Livescribe and Microsoft,” TechCrunch reports. A look through the site shows deals on pizza, yoga, paintball and beauty products. None of those seem particularly geared toward students (except maybe the paintball), but TechCrunch says the site will eventually offer deals on “textbooks and other educational resources” and I’ve asked Chegg for more info.
SEE ALSO: Chegg Buys Homework Help Site Cramster
Chegg, which launched in its current form in 2007, has raised over $200 million in funding and says it’s used on 7,000 college campuses.
Many other daily deal sites for students have launched in recent months, and many have folded—a scan of the first 15 sites on this list reveals that several are defunct. LivingSocial launched a partnership with social learning site Koofers to bring daily deals to college campuses last November, but that program is no longer running.
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“A degree only gets you a spot in line. If you don’t have job experience, you’ll lose out to candidates with better qualifications. But it’s difficult to get a job when you haven’t had one before, and that’s why we started Student Discount Society,” said Rich Alapack, one of the company’s co-founders, along with Jon Benson. “We provide all the resources that interns need to run daily deals, produce funny videos, earn money and improve skills that help them get jobs later. Student interns, in return, help us spread the fun of Student Discount Society throughout College campuses.”
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Groupon Offers College Tuition Discount
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Only people who already possess an undergraduate degree can apply and the offer is open to as many as 25 buyers. Students who take up the offer will have to complete another 33 credits (at full price) in order to gain the qualification at the end. Jocelyn Zivin, vice president of marketing and communications for National Louis, thinks that by offering these kinds of deals, the teaching program will become fully subscribed.
If it works, this will be seen as good news for the struggling Groupon. The daily deals site has had slow take-ups on its deals, and many merchants have been expressing mixed feelings about daily deals. Deals on college tuition could very well be the thing that saves Groupon.
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The Daily Deal and Group Buying Phenomena Continued
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College: UGA, Auburn, FSU, Georgia Tech, Old’ Miss, KSU, NYU, etc. An end example that you can capitalize on using the college model would be to create a one sale at a time that offers college merchandise, memorabilia, gift items, tickets to events, paraphernalia, books, and dorm room accessories at a discounted rate. College age kids absolutely love deals and discounts. Nearly every college student knows about the dollar draft deals at the local pub. College age kids are also extremely passionate about their schools. Simply finding one good deal that you can offer to a particular college every day has monumental potential to grow and gain a huge following rather quickly on campus. Daily Deal Builder software enables you to start and take over one college or city, and then easily grow into other colleges and cities.
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CollegeBudget Brings Daily Deals And Group Buying To Campuses
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1. Find the right price. “When we first came out of the gate, there were a couple of companies ahead of us,” says Fortenberry. “So we priced our product similarly to theirs—$10,000 a year.” It wasn’t until he dropped the price to $2,500 that the phones started ringing. Now, OrgSync has a tiered model, according to the size of the portal; the average price is (again) $10,000 a year, but this time, there’s little resistance.
2. Get student buy-in. “What we learned is that the students aren’t the decision makers, but it’s important to have student evangelists on campus,” says Fortenberry. The director of student life may be the person who writes the check, but without input from students, the deal won’t happen. So OrgSync’s team takes a “grass roots plus top down” approach, indentifying student leaders on campuses and at gatherings such as the American Student Government Association Conference.
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3. Use satisfied clients to convince hot prospects. If you think big companies are skittish about doing business with entrepreneurs, try ultra-conservative academia. Some universities even wanted Fortenberry to put OrgSync’s code in escrow, for fear that the company would go out of business. He never did that. But when he landed the University of Arizona as a client, “we told the whole country,” he says. Nothing speaks to your staying power like a multi-year contract from a big client.
OrgSync recently moved back to Dallas, and landed a $500,000 round of private investment capital. With 32 employees, the company has 800,000 registered students and does business with more than 200 colleges and universities. Note to former employer: The only thing Fortenberry might now beg for occasionally is a few more hours in the day.
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BUSINESS MODEL OF ONLINE BOOKSTORE
The Name: College cafe
Mission: Our mission is to provide college students a valuable and unique source for products, services and information. In order to achieve our mission, we are committed to the following philosophies:
It's all about the product.
Our customers are our employers.
Keep our employees happy.
Introduction to business: The College Cafe is a student-to-student Internet marketplace providing college students with the opportunity to buy, sell and trade college textbooks, participate in auctions, post classified ads, provide teacher evaluations, weblogs (bloggers),buy products for college, tutoring services or anything students wish to sell via an online student-to-student marketplace.
Ecommerce perspective: The Company will do its business online only and have its official website for its business transactions that is www.collegecafe.com. -
Value preposition: We offer college students a unique blend of products, services, and content that is not offered by any single company on the Internet. We will aggregate participants, products, services and content to create a student-to-student marketplace and retail website targeting millions of students.
The College Cafe will establish itself as the leading online student-to-student marketplace by combining extensive market-specific expertise with Internet technologies to generate revenue while creating a win-win solution for students.
Revenue Model: The following describe The College Cafe's revenue models:
1. Textbook Exchange
We allow students to buy, sell and trade their used textbooks with other students. Students post their textbooks online for sale or trade, upload images, and indicate the condition of the book in this way those students who are looking for used textbooks will be able to search for used textbooks for sale or trade in their local area or nationwide. A fee will be charge for posting textbooks. The fee may vary based on the asking...
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