The Problem:
Car industry pricing seems pretty prehistoric to me. Hardly anyone feels comfortable with the process and most don’t know if they got a good deal.
The Business
A service and a database of info wrapped into one. The service: for $250-400 we’ll negotiate the price of the car for you. If we can’t beat your price by $500, we’ll only charge you $99 and you’ll know you got a good deal. Less than one week turn around. We stand in the shoes of the buyer.
The database is actual prices paid for cars.
Do what it takes to acquire real data in all sorts of different areas, then charge others to view this information. The service aspect of the business feeds the database, as well.
Doableness
The is easy to start, if you handle the negotiation side. And that’s the point – not many people can. I’m a good negotiator, but I’ve got nothing on my father-in-law. You need guys like my father-in-law to handle these negotiations. Getting the website set-up is not complicated.
My Thoughts
It’s such an inefficient market. There are some websites claiming to help the customer with pricing. Most are just glorified lead generators for the auto dealers.
People are learning. If you aren’t paying for the product, you are the product.
This business idea incorporates a number of themes I think are gorwing in importance. 1.) The customer is willing to pay something to not “be the product. 2.) The Internet exposes truth. It’s a record of what happened. However, it’s only really a record of what happened if you find a way to get good information onto the Internet. 3.) You can charge money for content.