I'm sure everyone has heard terms like this before. Replace Spotify with Netflix or Uber, whatever. My idea isn't revolutionary but there's a need that isn't currently being filled.
I'll spell out the problem, solution and why in dot points because dot points are simple.
Problem:
Solution:
- Textbooks for uni/college students are very expensive
- Research has shown that many students choose not to buy the required textbook because its too expensive, thus their learning suffers
- Research has shown that students sometimes choose courses based on whether a textbook is required.
- When the semester ends, the student now owns a textbook they don't need anymore, so they have to go through the hassle of selling it, or it collects dust.
Barriers:
- An online e-textbook resource that allows students to access textbooks for short periods of time, e.g. 1 hour book loan for $5
- An online e-textbook resource that allows students to access all their textbooks for a monthly fee i.e. spotify
Competitors:
- Obtaining books
- Legal issues
- Lack of money makes it hard to pursue technical people to help explain how implementation could work
- Existing textbook sellers (Pearson, Wiley etc)
- Packback - very similar idea to mine but hasn't gained much traction in the market
- Physical textbook rentals (Chegg, Zookal etc)
I worked on this project for a few months but hit a dead end in acquiring the books. I have tried to get in contact with a number of different publishers and e-book wholesalers without any success.
My questions for my good friends here:
As a student myself, I just want this problem solved. If someone can steal my idea and make it happen, you'll make me a very happy man. Paying $200-$300 for a book that is used for 13 weeks is ridiculous and it has to end.
- Do you think this idea is possible to bring to market? Consider whether the publishers will even want to supply their books to me.
- What sort of budget are we looking at for an MVP? Consider legal costs, costs to acquire books, marketing, platform dev etc.
p.s. I have references to studies if people are curious of the exact numbers.
Look forward to hearing what you have to say. Be honest with me. No sugar coating here.
Sounds like potential to me...
Challenge for you:
What is the fastest, cheapest way you could bring a "bootleg version" of this to market, just to see if students at ONE university will pay you for it?
If you can't do that, don't even worry about the licensing, technical issues, etc
However if you've got willing customers even with a "bad" version, this should be a good sign to press forward through the challenges
Check out "The Lean Startup" if you don't really know what I mean
Definitely remember feeling hugely scammed by the textbook industry during my college days
Best of luck, man...
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