Hey Fastlaners!
I've had a lot of time to think of business ideas lately, and recently had an idea of a potential business model.
This would be on online marketplace, or hub, for sellers to post their products. Very similar model of Etsy, or Aliexpress. Although, it would be confined to a medium sized niche. The industry I have noticed is growing, and there are many 'startups' or sellers on Instagram and other places. There is a slight barrier of entry for these sellers, as they would need a website, and more importantly advertising. This marketplace would make it easier for sellers to upload products, lowering the entry barrier. More importantly, similar to selling on Amazon, there would be no need to advertise their product on the platform. The customers would benefit as they would have a one stop shop for unique items in this niche, being able to browse between multiple sellers and products. The business model would get revenue from: advertisements-(as businesses could capitalize on ready to buy shoppers in their niche), a transaction fee-(which could bring a much higher ROI then ad-spend), or/and a monthly membership fee for sellers accounts.
For a business model like this, a market hub basically:
I've had a lot of time to think of business ideas lately, and recently had an idea of a potential business model.
This would be on online marketplace, or hub, for sellers to post their products. Very similar model of Etsy, or Aliexpress. Although, it would be confined to a medium sized niche. The industry I have noticed is growing, and there are many 'startups' or sellers on Instagram and other places. There is a slight barrier of entry for these sellers, as they would need a website, and more importantly advertising. This marketplace would make it easier for sellers to upload products, lowering the entry barrier. More importantly, similar to selling on Amazon, there would be no need to advertise their product on the platform. The customers would benefit as they would have a one stop shop for unique items in this niche, being able to browse between multiple sellers and products. The business model would get revenue from: advertisements-(as businesses could capitalize on ready to buy shoppers in their niche), a transaction fee-(which could bring a much higher ROI then ad-spend), or/and a monthly membership fee for sellers accounts.
For a business model like this, a market hub basically:
- What are some potential problems with something like this?
- What kind of entry cost would be needed for such a website?
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