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Forums Forums Q & A How would you disrupt the established business model in an industry?

  • How would you disrupt the established business model in an industry?

    updated 1 week, 5 days ago 0 Member · 1 Post
  • Christine

    Member
    October 30, 2019 at 1:48 pm

    We built a site that allows people to book hotels at wholesale prices that are the absolute lowest rates anywhere online. I’m talking like up to 75% off booking or kayak, largely dependent on availability. One reason that we can achieve these low prices is our business model. Instead of buying hotel rooms at wholesale prices and marking them up like those larger sites, we charge a one time annual subscription ($59) and then allow our members to book those wholesale prices directly. Our major selling points: It is very common that our members save more than the cost of our membership in their very first booking, if not, then easily the second booking. This means if you book more two or more hotels per year, the membership will easily pay for itself. Any savings beyond that point stays in your wallet. For frequent travelers (hotel stay every 2 weeks) using Room Steals can save over $1k per year ($45 avg savings x 26 hotel rooms per year) The problem that we’re facing: Most people view booking hotels as one-off transactions, so the idea of paying for a membership to do that is completely foreign The positioning of our competitors like booking, kayak, etc. already focus on lowest prices, so in the mind of the customer, they already book their hotels at the lowest possible price Anyone can register on Room Steals and view rates for free. It takes less than a minute. When they are ready to book a hotel, we have them pay the membership and they’re in for a whole year. I have some ideas on how to go about marketing the site, but would really love some ideas and feedback from the r/Entrepreneur community. Happy travels! – by hq overview roomsteals – –

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