Group Pricing for Business Owners on Services

What is the name of the site(s) and URL?

GroupPrice operates at GroupPrice.com on the Internet

A brief synopsis of the website / application ?

Business owners can buy services and software that grow their online sales while cutting their costs in just 5 mins.

Why did you start this company?

To bring valuable services and software to online business owners that are core strength of the US economy. They have been badly weakened by the current deep recession and say too us: demand is down 50%, cost of delivery is up, and profits are reduced. I tell them “help is here”, as GroupPrice enables them to grow their business while cutting costs. How? By delivering daily deals to small businesses that offer the right solutions and by achieving the discounts that big business get.

A short bio of your company.

The business owner has an urgent need for a more efficient way to buy, and merchants need a lower cost way to sell. The owners have limited time and skills to find the software and business services they need to grow their business. Current purchasing solutions are fragmented and time consuming, leaving owners with partial solutions that don’t solve their pain of growing revenue while reducing costs.

GroupPrice solves this “commerce chasm” in the startup and small business segment, with daily deals presented on our websites home page using a simplified one step buying mechanism in a fresh and fun tone. We have optimized and integrated all phases of the buying process from finding, quickly evaluating, to a trusted comparison, and a group-buy. Our web based software solution enables business owners to find and buy in 5 minutes with benefits including:

Presents essential business services, software and supplies that are proven to grow profits

Is centered on group-buying technology that reduces a businesses expenses by 40-60%

Streamlines the cost cutting process between business owners, sales reps, and office managers.

Group Price targets online businesses with up to 25 employees, up to $10 Million in annual revenue and that use more than 5 merchants. This target market opportunity of 5 Million businesses and 1 Million merchants is the sweet spot of the total available market measured as 28 Million businesses and 15 Million merchants (source: IRS). This group spent $50 Billion in 2009 on software and services within their downstream supply chain (source: Jupiter Research). These businesses and merchants will drive their spending more heavily online in years to come, shifting from 20% in 2009 to 50% by 2011

Was your company started on a shoestring budget or funded?

We used a shoestring budget funded using some savings and mostly from the sale of a car.

Who is your competition, and what do you do better?

A GroupPrice focuses on the business owner, who has needs that span technology, management and sales. Others in the market focus on the just the technology will partial success.

Why would a small business, entrepreneur, freelancer, etc. use your product?

A small business owner spends most of their 9am-5pm day working with their customers. This leaves their other hours to look for ways to grow their business while cutting costs. They currently endure a ~30-minute long and tedious process of searching-evaluating-comparing-buying for each item. I wanted to dramatically reduce their costs by leveraging group buying and fit the whole process into a 5-minute slot in their day. So, whatever they want to buy; a service, some software, needed supplies, they could get a great deal on it – in just 5 minutes! Now using GroupPrice they can quickly find and group buy the services, software and supplies needed to grow their business while keeping costs within budget.

How could you effectively use these tools?

We use our service to grow our business while cutting our costs. We have deep expertise in the online business market and focus this knowledge on identifying which merchants offer the services our customer require.

Do you offer free online or offline tools?

Business owners can grow their revenue while reducing their costs using the GroupPrice FREE online service.

Are there different pricing levels?

Currently the service is open and free to all businesses, and we have received requests to offer a paid service with additional high-value benefits.

Do you have a blog that keeps users updated?

Yes, our blog at http://www.groupprice.com/blog/ covers a range of information that startups and small business owners need to be fully informed on how to grow their business online.

Facebook, twitter, LinkedIn or other social media profile?

We extensively promote our deals through our social networking communities

http://www.facebook.com/GroupPrice

http://twitter.com/GroupPrice

six different linked in groups focused on startups and small business.

How long have you been in business?

GroupPrice incorporated in June of 2010 and launched our service in January 2011

Number of current users? Estimated yearly growth?

We have grown quickly since our launch in January of 2011 and have over 4000 users

How do you see your company in the next 2-5 years (more products or services?)

We are a Groupon for business and are in our early days where success has different attributes in each phase of growth: forming a team, small business signups, posting more merchant deals, and growing revenue. We have achieved all of these and have refined the process. Now our challenge is to keep the many moving parts in balance and scale it up while keeping our customers happy.

How many employees do you currently have working with you and/or freelance contractors?

The GroupPrice team consists of 12 and will have 10 advisors.

Are you looking to hire more people or contractors? If so, what positions and skills are you looking for?

With our sales growing we need customer support and accounting skills, as well as email marketing skills.

What other web based products would you recommend to entrepreneurs, business owners, or freelancers?

The best ones to Go, Grow and Manage their business online are available at http://www.groupprice.com/

Any Patents Pending?

Our social commerce software is based on open technologies and we have unique intellectual property we have not filled for patents.

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