Hi. I have a family member who started a touring business where he rents a coach bus and creates a tour to historic cities across the midwest and east coast. The business has been very lucrative and he's been able to market the business by word of mouth and ads in newspapers. However, he recently attempted offer a special on Groupon that would allow people to purchase a ticket that would cover the bus fair and a hotel room for a two day one night tour to a historic location.
It sounded good on paper, but Groupon wanted him to give buyers a 50% discount for the ticket. Once the ticket was purchased, Groupon would then take 50% of purchase price and leave my family member with only 25% of what he would normally charge for a ticket. This, of course, means he would be losing money. So my question is, to anyone who has dealt with Groupon in the past, how do companies using Groupon make a profit? And can you give any tips on how to successfully use Groupon without losing money?
Groupon is an excellent way to market a business, but if you losing money, then it's kind of pointless.
It sounded good on paper, but Groupon wanted him to give buyers a 50% discount for the ticket. Once the ticket was purchased, Groupon would then take 50% of purchase price and leave my family member with only 25% of what he would normally charge for a ticket. This, of course, means he would be losing money. So my question is, to anyone who has dealt with Groupon in the past, how do companies using Groupon make a profit? And can you give any tips on how to successfully use Groupon without losing money?
Groupon is an excellent way to market a business, but if you losing money, then it's kind of pointless.
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