Finding a good and stable source of income can be quite challenging; especially for stay-at-home moms. Many find it frustrating to look for a legitimate work from home job. Fortunately, there are still many opportunities for moms to generate income while still being able to take care of their families full time.
In fact, there are dozens of ways to earn money while at home. One of the many potentially lucrative businesses suitable for stay at home moms is a coupon business. Here are some basic facts you need to know about a home-based coupon business.
What is a Coupon Business?
Retailers and manufacturers use coupons as part of their sales promotions. These coupons are tickets that can be exchanged for a discount or a reward when purchasing a product or using a service. Coupons help businesses promote their products and services and attract new customers. For consumers, using coupons is a great way to save money. However, starting a coupon marketing campaign is often expensive and time-consuming for the retailer or manufacturer.
By starting a home-based coupon business of your own, you can offer your services to these businesses and generate income for your family. The national coupon industry is estimated at $6 billion a year. A big chunk of that amount goes to middlemen who distribute and sell coupons.
That's where you come in. You earn from a coupon business either by selling the coupon books to consumers who want to take advantage of the discounts and rebates or by charging the businesses if they advertise in your coupon booklet.
How to Start a Coupon Business
To start a coupon business, you need to have both the skill and the equipment to design and produce coupons and coupon booklets. Starting costs for a coupon business venture can run from about $1000 to $3,000. You will need a computer, printer, telephone, fax machine and software for designing coupons. Setting up a website where you can promote your services and accept inquiries and job orders is a great start. You will also need a mailing list of target customers.
Once you have all the resources you need and designed a few coupon templates, you can begin looking for clients. You may start with local merchants and neighborhood businesses that you already frequent. These small businesses are usually looking for good ways to advertise their product or services. When making a business pitch to potential clients, make sure you offer a favorable return on their investment for less than the cost of their existing advertising campaign.
Some Tips on Starting a Home Based Coupon Business
Don't forget to create and register a business name.
Do offer your coupon services to businesses that you already frequent. This may help you sell the first few pages of your coupon booklet, which can consequently help establish the credibility and legitimacy of your business and help convince other business to make use of your services.
Do check back on the businesses that have purchased ads in your coupons. A successful coupon campaign almost always guarantees a repeat customer.