Your opinion on my business idea would be appreciated

[arman.london]

Dear Fastlaners,

I would very much appreciate your feedbacks:

Think of Gumtree for a second.
It has multiple fields of activity (it is Not branded as a Specialist in any of those sectors).

For its REAL-ESTATE sector, it accommodates listings from (private owners, estate agents, and even those “looking†for specific properties), and it covers all branches of real-estate, be it residential, commercial, industrial, etc.

Then, in terms of their charges in the property section, it’s free for the first 2 ads you post within 12 months, and if you are an agent you can post multiple properties if you buy a monthly subscription of only £49/m. Then if you want to “bump-up†your ad or make it “featured†you can pay extra £4 or £5 for either of those.

The problem with Gumtree, in my view, is its “average search engine†and an image that is just doesn't convey specialism or professionalism.

Now its Automotive section is also the same...it homes all sellers, all types of cars, and all for very cheap fees… but with an average engine, and a not so specialised site! Hence why a brand like AUTO-TRADER is thriving in the market over Gumtree…and it’s charging quite a lot for its well-known website!

Would YOU advise me to make a brand in Real-Estate sector, just as AutoTrader does in automotive sector?

If you think “well, if AutoTrader does it for autos, then you should be able to do it for properties too†let me add a few complications:
- AutoTrader was already well-established before Gumtree in the UK…but I’m a little-budget new-comer! How am I going to go Optimise myself on Searches?!
- Then there is another HUGE PLC competitor in the market called RightMove.co.uk - but it Only works with “estate agents†and not Private dudes. Again, what am I going to do about this big brand with 12.5million searchers on it every 30days!!!

All in all, maybe I’m not adding much of a value with my idea… and I’m going against brands who are separately doing what I want to do in 1 package!

I am in need of advice BIG TIME!

Thank you so much for reading. Look forward to hearing back

 

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[Tom.V]

Why did you post this twice?

 

[arman.london]

Why did you post this twice?

It seemed to me, on the other forum, that you were referring to my earlier question RE website development.
But if you were actually addressing my "competition analysis" please kindly amplify on your answer a little further.
Cause I want to investigate if I am selecting an appropriate business to pursue or not...

 

[Tom.V]

Sorry pal, but we can't make your decisions for you. If you can do it, do it. If not, pick a different path.

 

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[arman.london]

I'm sorry if I seem confused
But what is the purpose of this forum if not to share ideas and learn from each other on the path towards riches?!

And as for my dear friend Ungodly, it might be of amusement for you to know that I'm not a complete novice! I have once walked the path of riches at the age of 23 until 26. In 2009, I realised that Iran's petrol was being sanctioned, and I figured they may need to utilise their natural gas as an alternative for the auto industry. So i took the opportunity to export CNG & LPG kits and tanks from China & Netherlands to Iran. Brought in 4 investors from London and within 9 month I had single handedly dominated the market in Iran; provided quality and value, labelling myself as the English hand if God )
At our peak, after 2 years, we sold in excess of £3m per month!
Can your believe that?
I couldn't...my family couldn't! But the world was mine those days...
Time marched on and towards the middle of the 3rd year, one day on my way to the office, I noticed the queues for gas stations were suddenly empty!
There were always miles n miles of cars in line everyday...but that day, the stupid politicians had suddenly 10folded the price of gas in 1 day! Without any notice or news! They just felt like the demand was way too much...
They burnt us, and the competitors in the market, down to ashes!
I couldn't believe this either!
Two extremes in a matter if 2 yrs!
I had paid £2m to Chinese manufacturer just a few weeks before that, and £800k to Eindhoven! Now they didn't want to pay us back, saying "oh we've already manufactured your order"!
It took me nearly 2 years, until quite recently, to get it back and repay our investors!
I went bankrupt. So did my father. I spent 6 months in a single room as i suffered from a great depression. I felt this is the end for me. Mad at me and the world, not realising that I had chosen a biz which was "CONTROLLED" by a number of stupid politicians and it was my OWN fault and i should have thought that this could burn any day!

Anyways
I'm on this forum because MJ DeMarco's book slapped the fk out of me and showed me my past mistakes in business.

And if you, my dear friend Ungodly, don't want to share your thoughts specifically about the idea of my new business, and help me make a wiser decision about it, then at least don't call me a novice, nor tell me to walk the path and see where it takes me, for I have walked tall in my time and have burnt myself for a wrong decision of business once in life!

Enough said

 

[biophase]

The reason you don't get any answers is because your question does not really make sense.

"Would YOU advise me to make a brand in Real-Estate sector, just as AutoTrader does in automotive sector?"

Sure, anyone would say yes to this question. It's like me asking, Should I start a business that would become the McDonald's of hot dog stands? The Nike of gym socks? The Sony of portable heaters?

I would start a business to become the "brand" in any market. The question is can you do it? How are you going to do it?

If you had the website up and running today. What is the first thing you do tomorrow?

 

[arman.london]

because your question does not really make sense.

Thanks for your reply biophase,
Let me make my question very very simple:

I want to offer a number of different services through a website
let's call it service A, service B, service C, service D, all in 1 website.
But each one of those services is already being offered by 2 separate/well-established websites
let's say (website 1, which has a shitty interface, offers service A & B, and website 2, which has a nice interface, offers service C & D)

Should I still do it? i.e. Offer ABCD all in 1 better interface?
If the site is executed professionally, will their customers come to me? Or will they think "well, the site looks better, but we're getting these services in website 1 & 2 already...why go with this newbie?"

I think you get my point...
And there is really still a few other concern about pricing, etc.

Thank you

 

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[mentalic]

So,
You are planning to do what Gumtree does but offer richer classifieds for end customers? I think that Rightmove (which rocks btw) has chosen to do business with real estate agents for some reason.

 

[arman.london]

Yes mentalic, spot on.
What do you think?

 

[glenm]

It sounds like after your last business you are a little gun shy, for good reason.

Unfortunately asking this group is not going to give you the answers you need we are not your target market. The only real way to know if this would work is to get it out there and test, start small and build from there. If you are offering more value than the competition then you will know by the paying customers.

Good luck!

 

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[arman.london]

The only real way to know if this would work is to get it out there and test, start small and build from there. If you are offering more value than the competition then you will know by the paying customers.

I guess you're right glenm.
Your comment is appreciated.

 

[biophase]

Why would you aggregate services a b c d into one website? Are the services related? Does someone who wants service b also need service c?

 

[biophase]

Btw with gumtree like Craigslist, I don't think it has to look good, it just needs to work better.

 

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[arman.london]

Why would you aggregate services a b c d into one website?

to become a specialised brand. just as all types of automobiles (cars, vans, trucks, bikes, used/new) are aggregated in 1 website: autotrader

Are the services related?

yes, property valuations, mortgages, insurance, conveyancing, etc

Does someone who wants service b also need service c?

not necessarily, although it does happen - but all types of customers would know that this site is the specialised destination of all sorts of properties

Btw with gumtree like Craigslist, I don't think it has to look good, it just needs to work better.

I totally agree
but in their own word, they want to give these sites a sense of "community" where everyone can post things on there
it makes sense, but it doesn't tickle my fancy - I, for one, would rather post my ads on a specialised site.
Wouldn't you?!

 

[markkedle]

I think the idea is very nice and practically applicable. But you need to critically analyze all the market scenario before final decision. I suggest you that you should go for registration of your new business with all the property and other copyrights.
Anyhow thanks to all for the input.








designs lawyers

 

[x11joex11]

Have you validated that customers actually find value in what changes you are proposing? I'm not an expert by any means, but I've learned a lot from Dane Maxwell's teachings so to speak about idea validation, just curious if you have validated any of your proposed changes?

 

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