Hi to all members of youngentrepreneur,
Just a little bit about myself. I'm a 16 year old, business student at college, I have great passion for business and making lots of money. Once I feel I have a solid foundation to a business idea I am committed to the key success of it and this idea has a good foundation.
I have been thinking lately about business ventures which I could take on at my age of 16 and there isn't many of interesting options.
Initial Idea
I've seen a possible gap in the market for an Online-tycoon web-based game. There is only one other website like this at the current time, the potential for revenue is huge !!! The game on their website runs in 70 day periods where people can sign up and pay for the premium online game membership. In the current 70 day period they have had :
- 766 users - charging $8.00 for every season of 70days.
- Maths - 766 x 8.00 = $6,128 or £3,142 for 70 days
You must be able to see that this has huge potential by now ?
I require investors, partners or web designers, but preferably web designers and developers as you will be able to do most of the work at a reduced rate.
If any designers or developers could help me succeed I would be extremely grateful, I do not have any complex computing language skills, so if a designer was in on this project I would be taking care of the marketing, business costs etc.
The initial plan of the site would involve internet marketing using the key e-marketing mix initially to promote the website. Some ideal promotional methods would be: -
- Forum posts
- Web Banners
- Business cards
- Press releases - My local newspaper etc
- Viral Marketing (Emails)
- Multiple Domain Name Purchases
I personally would set year 1 budgets and estimated expenditure as following based on selling at least 1400 memberships on the first year of set-up (Selling 1400 memberships would give a fund of $10,000 or £5,120:
Website marketing - £2000
Website Development Through year 1 (Bug Fixes, Version Updates) - £1000
Wages for designer (you) or investor - £1200
Wages for me - £420
Other Costs - £600
Remember the money distributed above would not be until the end of year 1.
IMPORTANT INFORMATION
I have been given numerous quotes by designers for this project and I could no way near afford it. This is some of the information:
Project Time (Average) - 45 days
Project Cost (Average) - $5000 or £2560
Future Development
The ideal future development for the website would be to get it into all secondary schools around the UK as a GCSE Business educational tool. This would be highly profitable as there has to be at least over 1000 secondary schools. Not only that but to develop the site with advanced features to eliminate key competition and threats.
What would be on offer ?
If any developers or Designers would like to contribute to this project for a stake in the business then please email me ! I would prefer you being the designer to build the site for a smaller cost something like £250 and then also receive a 40% stake in the business.
If you have any questions, suggestions or advice please post or email me @ Millermitc@aol.com