USA 23 JUly 2013. Another Daily Deals Website? Yes, Peekadso is another daily deal website, but we’ve created this one with the best interest of everyone in mind; both, consumers and businesses benefit from using Peekadso.
What is Peekadso and how does it work?
What’s with the name?
We’re often asked how we came up with our company’s name. The name came about during a brainstorming session my partners and I had and then we agreed upon (Peek Ads Online). http://www.peekadso.com
Peekadso.com has been under development since August 2012 and we launched our website on June 22nd, 2013, so we’re fairly new to the market. At this time only a few businesses in Florida, Miami and Fort Lauderdale in particular, know about Peekadso. Businesses are signing up but only as fast as we have been able to put feet to pavement to personally show companies what we have. We have a few restaurants and a couple of other companies on board. Our success relies on businesses signing up and sharing deals...consumers of course will go wherever the deals are.
Peekadso was founded by three friends with a crazy idea, very little startup capital, and big dreams to bring huge change to the way businesses share their deals. The crazy idea was...let’s take on Groupon and Living Social by creating a company that would benefit everyone, both, businesses and consumers alike. We know we are an underdog in this industry but we truly believe it should be more about creating connections between consumers and businesses than creating a profit for us.
From a consumer point of view Groupon, Living Social, and other deal sites just means one thing, great deals for things around your city. Who doesn't like to get a good deal every now and then?
From a business owner's standpoint, sharing deals on deal sites means having to discount their services by half, and then share half the profit they make with those deal websites. We believe most daily deal site’s business models are only good for the deal sites but pretty bad for the businesses themselves. We’ve stepped up to the challenge and want to help make things right for everyone.
The Peekadso difference...
We allow businesses to have full control of creating deals. They choose how many coupons to release...from 1 coupon upwards to 50,000 coupons.
We’re giving businesses the opportunity to pause their deals by the press of a button if they receive too much traffic that could potentially hurt their operations.
We've lowered the Daily Deals industry's minimum standard of 50% discounts to 35% discounts. It's up to a company's discretion whether they'd like to give away higher discounts. Of course the higher the discount the more of a response they’d receive from consumers.
Consumers do not pay upfront for deals on our site. They just click on any deal they like, claim the coupon, and print it out at a later time whenever they're ready to redeem the coupon. What this means is consumers will never miss out on a deal they don't have the money at the moment to acquire.
Since consumers pay the merchants who are running deals on our site at time of service the businesses running their deals with us get the full profit from any deal redeemed. There's no commission paid per deal, there's no split of profits whatsoever.
The way our site works begins the same for business owners as it does for consumers. The first step is to register for a free Peekadso account. They’ll receive a confirmation email to verify they have entered a valid email address. Once their email is verified they can begin claiming and printing out deals if they are a consumer or move forward with adding their business if they want to have their company listed on our directory and begin creating deals.
To create deals a business needs to purchase the deal package, which is currently $45.00 for the month. Once the month is over they can either choose to pay for another month to continue posting deals or they can choose to just have their company listed on our site with no deals running. There are no contracts and they are in full control of their deals at all times. The $45.00 package allows them to create unlimited simultaneous deals as well as allowing them to be able to share however many coupons they’d like to make available to the public. With us the business owner themselves create the deals as they see fit. We give them two options. They can create a fix price deal or a percentage deal.
Now on to the way consumers interact with our site. Consumers can claim coupons without having to pay upfront for those deals. They redeem and pay for services directly with the business at time of service. We’ve done this to cut out the middle man; the deal is between business and consumer. This benefits both the business owner and the consumer. With us, consumers will never miss out on another good deal by not having the funds to purchase a deal before the deal ends. They can have the coupon saved within their Peekadso account and print it at a later time when they are ready to take advantage of that deal.
Why is it a good idea for business owners to our services?
The answer is simple. It’s because we’re not here to make any money off of other people’s hard work. We want to help consumers make the connection with businesses without companies having to lose money in the process.
Business owners frequently ask, if we don’t take a portion of their profits from the deals they run then how we make any money ourselves.
We make our money by charging companies a monthly subscription fee to use our services. And, this fee is only charged if a company has a deal running on our site. Our fee is currently $45.00 per month and it’ll stay at this rate during the early stages of our website's release. After a few months that fee will go up to $90.00 per month. However, any company who signs up with us now will be grandfathered in to the $45.00 rate forever. This is our way of thanking companies who believed in us and helped us grow during our initial growing phase. Even at $90.00 a month we're still a great bargain for companies who want to run deals on our site.
We're in talks with a local skydiving company who ran a Groupon. They sold $140,000 worth of skydives last year through Groupon...Groupon took about 35% ($49,000) of their sales. With us they would have just paid $45.00 for the month they were running the deal.
An example of a common deal typically found for restaurants on Groupon would be a $20.00 meal offer sold at $10.00. This deal would only bring in a $5.00 profit to a restaurant. There are so many businesses running deals on other deal sites and are actually operating at a loss just to get new clients in the door!
We have a product that will blow other deal sites out of the game, but we will only be successful if companies know about us and how we're offering the ability to run deals without having to share any portion of their profit. Groupon has over 300,000 active companies every month, all of which are giving a portion (around 50%) of their profit to Groupon. Every company we've approached who has run deals in the past with other deal sites and we’ve explained the differences we're offering have been very excited.
We’ve had an amazing time creating this company from the ground up. It’s amazing to finally see the site up and running. People are using it to download deals and companies are contacting us to sign-up. We’ve come a long way from literally sitting at a Wendy's with pen, sheets of paper and napkins scribbled all over from us brainstorming sessions. Thankfully, I came to find an excellent mind mapping software and moved our brainstorming efforts to the digital front. I can't even account for how many hours upon hours I've researched marketing and advertising techniques. The same goes for the many hours of sitting listening to lectures, interviews, and researching our competitors as well. Of course, I'd throw a little Ray William Johnson or Philip De Franco into the mix every now and then on YouTube to not go stir crazy.
Commitment is what it's all about. There have been many times that I've thought to myself, "What the hell are we doing? How can I seriously think we'd make any kind of impact in this industry?” The answer is simple...It'll take time and a lot of hard work to show people we're a company that's trying to make things right for them. Slowly but surely, people are noticing.
Peekadso CEO & Co-Founder
Cell: (786) 269-3388