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Investment Required

Discussion in 'General Business' started by earnveryhigh, Mar 18, 2013.

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  1. #1
    Hello Friends,
    I am looking forward to start a website in India where people will be able to Play Quiz daily and three lucky all correct answer winners will get free mobile recharge.
    Can anyone, especially from India suggest me the Investment Required for Starting Such a Site
    My Approximate Budget is $100
    Please Add Your Comments
     
    Last edited: Mar 18, 2013
    earnveryhigh, Mar 18, 2013 IP
  2. sarahk

    sarahk iTamer Staff

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    #2
    Your budget needs to come after your business plan.

    How do you plan to pay for the initial recharges before you start earning?
    How do you plan to earn from the site?
    Who will do the work designing the site?
    Who will build the site?
    Who will market the site?
    Who are your competitors?
    how do they monetise, promote etc
    Is there room for a new competitor?
     
    sarahk, Mar 19, 2014 IP
    BoostSoftware and jrbiz like this.
  3. jrbiz

    jrbiz Acclaimed Member

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    #3
    sarahk has it right and I would especially point out the question about marketing the site. That is going to be costly, given that you are going to need to drive considerable traffic to the site to make it workable.

    By the way, let me mention that once I had the site working (questions queued up, contest software enabled, etc.) I would then seek out a large brand in India and ask them to sponsor the first event by advertising it and sending their customers/website visitors to it. The winners could win products or services donated by the sponsor, too. I suspect that this is slightly different from the model that you were considering, but it is one worth considering.
     
    jrbiz, Mar 20, 2014 IP
  4. BoostSoftware

    BoostSoftware Active Member

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    #4
    I agree with the input above, especially the part about having a plan and doing research on how to sponsor your site. The initial $100 at least gets you maybe 6 to 12 months of Web hosting, though. The more money you have to promote, the better of a return you might get if people want what you're selling.
     
    BoostSoftware, Mar 20, 2014 IP