Penny Auction Holiday Site For Sale | | Undisclosed Hertfordshire | | Brand new, unique concept website which is run on the penny auction system but auctioning holidays! There is no other penny auction business that auctions holidays in the UK, it is a multimillion pound industry!. Business for sale Penny Auction Holiday Site For Sale is located in Hertfordshire. | | BUSINESS FOR SALE ADVERT DETAILS ADVERT NUMBER : 65558
ADVERT IMPRESSIONS : 23,917 TIME(S) | | | | BUSINESS SECTOR: | Internet / Online | | TRADE TYPE: | Websites | | SALE: | Private Sale | ASKING PRICE: | £30000 | | | | | | | | | | Add this business advert to your: | | | | | | | | | | | | | | | BUSINESS DETAILS: | About our Website
We came up with a concept of producing a website using the penny auction system to be able to allow
consumers to win auctions for example a week in new York for very, very low costs to them, but generate an income by selling bid packs which is what will generate the revenue and cover the cost of the Holiday and profit, at the same time the lucky person who wins the auction could for example win a week in New York for two for £90! Who would say no to a holiday at this sort of price?
Since there is a cost associated with placing a bid on site, this discourages people from bidding too often which keeps the final auction prices low allowing our users to win amazing holidays at next to nothing prices.
The revenue from selling bid packages allows us to sell holidays far below our cost while still remaining profitable overall.
Example of how it works
We list Holiday auction for example to New York worth £2, 000. The auction starts its bids at £0. 01p, and every time someone bids on that item, the value goes up by 1p. The auction is set to end within a set timescale. If no further bids are received the person on the highest bid at the point when the clock hits zero wins the auction for their bid amount.
How Revenue is generated
Normally there is a charge to participate or bid (typically 50 pence per bid). Should the auction reach for example £90. 00 for the £2, 000 holiday, the customer then pays £90 for the holiday (they have already paid 50 pence to bid, so the holiday has actually cost them £90. 50). The auction itself will have received 9050 lots of 50 pence fees by other bidders to participate, and so will generate £ £4525 for a product worth £2, 000.
Also we are affiliates to most major internet holiday companies which are featured on the site, so all holidays booked through the site, we also earn commission on.
Reason for selling
We have built this website from scratch, we only launched in May 2011 and in 4 months already have a membership base of over 400 members.
Unfortunately, we under estimated the cost of advertising and we have now found ourselves in a position that we cant afford to continue launching this project. Anyone that knows the penny auction system and how it works knows it is potentially a multimillion pound business, especially at the fact that we are the only ones that offer holidays! Which makes it a unique concept. This really is a last option for us and selling really was not what we wanted to do, but we just cant find further investment to continue. For this business to be taken to its potential which could be huge, the ideal person would be someone who has a good investment behind them for strong advertising budgets, a bit of marketing and internet business knowledge.
Everything is set up, live and just needs someone to take it over and build the business and the brand.
Its relocatable anywhere in UK.
Full online training can be provided to new owners. The asking price is basically everything we have put into it to set it up, and I believe its worth it as in the right hands the business will be very successful. And only current running costs is for a dedicated server hosting which is roughly £263pm.
. | | | | | | FOR SALE | | | | | REFERENCE: | 65558 / RightBiz | | | | | | Request more information about this business.. | | ENQUIRIES: | | | | CONTACT SELLER TO GET THE SELLERS DIRECT CONTACT DETAILS AVAILABLE TO MEMBERS ONLY | | | | | | | | | | | |
