We all love saving a buck or two. In fact, back in 2018, it was predicted that there would be over 1 billion digital coupon users by 2019!
Needless to say, this industry can be a great way to generate some passive income. With so many internet users searching up coupon codes, getting in on the action can generate some decent cash.
Do you want to start a coupon business? Then keep reading. We will give you all the best tips on how to do so.
Why Start a Coupon Business?
As we said above, starting a coupon business is a great way to make passive income. This is because all you have to do is start a website, YouTube channel, or other social media account. Then, you just have to share the deals you find, and that’s it!
When you display these coupons and deals through an affiliate program, you will get a cut (which is your commission) whenever someone uses the codes. Essentially, you barely have to lift a finger to make some extra cash.
Also, by having a coupon business, you can save on your purchases too. You will get all the inside information on where the best deals are, so whenever you need to buy something, chances are, you will have a coupon code for it.
It’s a win-win situation, really!
Now that you are most likely convinced you should start a coupon business, let’s go over the steps of a solid plan to ensure your success.
Picking a Niche Is a Must
Before you get started on planning everything out, you must determine what niche you want to be in.
Of course, ideally, you would offer coupons of all sorts. But other big names (such as Groupon) already have a stronghold there, and even though you might hope you can, there is practically no chance of beating them out.
So you have to be smart about your couponing business plan. You do not stand a chance of dominating big names, but you can hope to siphon off a bit of their business still.
To do this, you need to specialize in a certain type of coupon. For instance, maybe you can focus on coupons that parents or pet owners would appreciate. That way, you will attract a niche crowd and you will be the authority for that category.
When you specialize in a certain type of coupon, you will find that users will naturally prefer to use you rather than a big-name site. If you actually have some authority on that niche (for instance, you are a midwife or dog trainer), then that will create even more appeal for your coupon business.
Don’t Go for Oversaturated Niches
Again, you want to set yourself apart from the many coupon programs out there. Not only do you have to avoid posting coupons from all categories, but you also have to choose a niche where it is not oversaturated.
For example, there are lots of foodies and photographers, so it may be hard to break through in those niches, even if those are your passions.
But not all hope is lost! What you can do is tighten up your focus even further.
For instance, if you are adamant about having a foodie couponing website, maybe you can narrow it down a bit more. Instead of catering to other foodies in general, you can dedicate your coupon site to gluten-free products. Chances are, there are not many people in that niche, if at all.
Create Your Website
If you want to have a coupon website, you will have to create and launch it before you can open up shop!
If you do not already have a website set up, consider using a service like WordPress, as it is very easy to create a professional-looking website. Plus, it is free!
You will need to find a host to make your site live. This is not free, but thankfully, it wwill not cost very much at all to do. For example, Bluehost will host websites for as low as $2.75 per month.
Take some time to look up some themes and plugins that will work well for what you have in mind. Your website needs to look attractive, or it will cause users to click off.
Be careful not to add too many features though. It is tempting to put all the cool bells and whistles on, but your site may become too cluttered, which can make it hard to navigate through. This can also alienate your users.
Sign up for an Affiliate Program
Unless you do not have any other jobs, you probably do not have all day to sit around, looking for great deals to put on your website or social media accounts.
Even if you had all day to search coupons, that would quickly get tiring and it would not be very fun. Not to mention it is extremely time-consuming as well.
A great way to run your coupon business is to sign up for an affiliate program. For instance, we at RebateKey have a program where you can earn up to $20 per referral that is signed up and used their rebates.
Considering all you would have to do is share your affiliate links, sit back, and see the money come in. That is a lot more fun than searching up deals all day, right?
Start a Coupon Business Today
Now that you know all about how to start a coupon business, you have everything you need to do so. From finding your niche and starting your website, to signing up for an affiliate program, it is really not that difficult to get started on your coupon business.
So what are you waiting for? Get started by signing up for our affiliate program now!