Is this price to much for my new membership?

LMC · 04-17-2009, 09:36 AM

Hello Warriors,

In the last developing stages of my new idea... I'm working on my price structure. What is it going to cost?

Currently, $197 per month.

As a member, you get to review 100's of custom designed business's, not websites, these are business's with an idea, a vision, and a product. They are plug in and profit style, where your only expense is $10 for your domain name, and with the free installation you don't pay for hosting.

When a member downloads a business, it is removed from the Warehouse, so the business is exclusive to them.

I'm also including Guides for every step of the online business process from domain names to conversion rates, to flipping websites.

With the exclusiveness of the business, I feel the price of $197/M is very reasonable, but I have been wrong in the past.

So, what do you think?

In my eyes, every month for $200 you have a new business online, and just a few sales will make you break even, or you could just flip the business if it is no working out.

So, what do you think? too much? too little?

I appreciate your time.

LMC

LMC · 04-17-2009, 09:40 AM

Jimmy,

I would not call this a "get rich quick" idea, it is designed and implemented more professionally, for those that really want value in an online business.

Really my target market or for marketers that understand and know what they are doing.

However, there is no way that I can offer exclusive designed business's with a product, website, and entire backend for $27

Dayne Dylan · 04-17-2009, 09:44 AM

Way too high. Just sayin'

Sam Rodrigo · 04-17-2009, 09:48 AM

LMC,

You say that when a member "downloads a business it is exclusive to them..."
What is the motivation for the member to keep his/her membership?

Shouldn't you have a pre-paid entry fee that covers the cost of the product, and then have a much smaller monthly fee that covers on-going support?

I think the monthly fee may scare people. Another option is to charge a low fee per month, but when a Member exists with a business they pay a "one-time" exit fee.

Hope that helps,
Sam

Robertas · 04-17-2009, 10:18 AM

LMC we can predict and give opinions on many different things, but testing and proven data always > predictions

If no one signs up for your membership site for $27, why would they pay $67, $97 or $197

I am not saying anything negative, but the point I want to make is that you've got to test out different pricing strategies and see which one converts the best!

IM Headlines · 04-17-2009, 10:31 AM

It's too much, especially if you are just starting out.

If I were you I'd start with a low price below $100, then you can make it higher once you gain some good reputation.

RGallowitz · 04-17-2009, 10:43 AM

Establish yourself as a professional and get some credible testimonials from big players with big credits behind them and then charge MORE. Don't charge too low otherwise you get those crappy refunders. People who are serious about their business will pay $197 or MORE easier.

LMC · 04-17-2009, 11:46 AM

I really appreciate all your comments.

Right now, I'm trying to develop the best model possible for my idea.

Here is the situation, I am an idea generator, that is all I do... I'm awesome at setting up the business online, making payment gateways, making marketing funnels, blogs, and designing a beautiful site.

What I am not good at is, taking the niche sites and doing the marketing for them, not that I can't, I just don't have the motiviation there.

Over the past 4 years, I have developed so many sites that are just not online because I don't have time to run them, and figured my best bet would be to create a business around these assets.

Sam, you make some interesting comments, I really never thought about the member retainment which is obviously extremely important.

In my eyes, I was thinking that once they download a business, and set it up to a domain name, if it profits, and profits well, why wouldn't they go into the next month with another download.

Sam, in your other comment of the low monthly fee... do you think it might be a good idea to charge a low monthly fee to explore the warehouse, but then if you find a business you like there is a charge to download???

I guess it is something I have to think about.

hernan10 · 04-17-2009, 11:48 AM

Try advertising this at sitepoint. It should benefit you.

tnleverett · 04-17-2009, 12:50 PM

Hey man,

Just charge an "entrance fee" for each business and then require a percentage of whatever each business makes. Maybe I am way off here but it is just a random thought.

T

LMC · 04-17-2009, 12:56 PM

T,

Another interesting view, however, it would be annoying to track all the equity, and chasing people for payments.

04-17-2009, 09:36 AM	#1
LMC 520+ sites and counting War Room Member Join Date: Apr 2009 Location: Brooklyn, New York Posts: 1,546 Blog Entries: 16 Thanks: 312 Thanked 1,316 Times in 301 Posts Contact Info	Is this price to much for my new membership? Hello Warriors, In the last developing stages of my new idea... I'm working on my price structure. What is it going to cost? Currently, $197 per month. As a member, you get to review 100's of custom designed business's, not websites, these are business's with an idea, a vision, and a product. They are plug in and profit style, where your only expense is $10 for your domain name, and with the free installation you don't pay for hosting. When a member downloads a business, it is removed from the Warehouse, so the business is exclusive to them. I'm also including Guides for every step of the online business process from domain names to conversion rates, to flipping websites. With the exclusiveness of the business, I feel the price of $197/M is very reasonable, but I have been wrong in the past. So, what do you think? In my eyes, every month for $200 you have a new business online, and just a few sales will make you break even, or you could just flip the business if it is no working out. So, what do you think? too much? too little? I appreciate your time. LMC

04-17-2009, 09:40 AM	#2
LMC 520+ sites and counting War Room Member Join Date: Apr 2009 Location: Brooklyn, New York Posts: 1,546 Blog Entries: 16 Thanks: 312 Thanked 1,316 Times in 301 Posts Contact Info	Re: Is this price to much for my new membership? Jimmy, I would not call this a "get rich quick" idea, it is designed and implemented more professionally, for those that really want value in an online business. Really my target market or for marketers that understand and know what they are doing. However, there is no way that I can offer exclusive designed business's with a product, website, and entire backend for $27

04-17-2009, 09:44 AM	#3
Dayne Dylan Senior Warrior Member War Room Member Join Date: Sep 2004 Location: USA Posts: 2,572 Thanks: 132 Thanked 82 Times in 53 Posts	Re: Is this price to much for my new membership? Way too high. Just sayin'

04-17-2009, 09:48 AM	#4
Sam Rodrigo Senior Warrior Member War Room Member Join Date: Feb 2007 Location: Universe, OH & NL Posts: 3,865 Blog Entries: 4 Thanks: 23 Thanked 22 Times in 21 Posts Social Networking Contact Info	Re: Is this price to much for my new membership? LMC, You say that when a member "downloads a business it is exclusive to them..." What is the motivation for the member to keep his/her membership? Shouldn't you have a pre-paid entry fee that covers the cost of the product, and then have a much smaller monthly fee that covers on-going support? I think the monthly fee may scare people. Another option is to charge a low fee per month, but when a Member exists with a business they pay a "one-time" exit fee. Hope that helps, Sam
	RICH SAGE BLOG LOCAL AFFILIATE GOLD MINE: >> CLICK: BiiG NETWORK LAUNCH WSO << SIGN UP FREE. LIMITED NICHES/LOCATIONS! Last edited by Sam Rodrigo; 04-17-2009 at 09:49 AM. Reason: typo

04-17-2009, 10:18 AM	#5
Robertas HyperActive Warrior Join Date: Oct 2008 Location: Earth Posts: 117 Thanks: 15 Thanked 36 Times in 13 Posts Social Networking Contact Info	Re: Is this price to much for my new membership? LMC we can predict and give opinions on many different things, but testing and proven data always > predictions If no one signs up for your membership site for $27, why would they pay $67, $97 or $197 I am not saying anything negative, but the point I want to make is that you've got to test out different pricing strategies and see which one converts the best!
	"Money doesn't make you happy. I now have $50m, but I was just as happy when I had $48m." Arnold Schwarzenegger

04-17-2009, 10:31 AM	#6
IM Headlines Senior Warrior Member War Room Member Join Date: Mar 2009 Posts: 1,097 Blog Entries: 1 Thanks: 200 Thanked 638 Times in 76 Posts Social Networking	Re: Is this price to much for my new membership? It's too much, especially if you are just starting out. If I were you I'd start with a low price below $100, then you can make it higher once you gain some good reputation.
	* EASIEST WAY TO MAKE $1,100 EVERY MONTH ONLINE! * WANT TO BUILD YOUR LIST QUICKLY? CLICK HERE!

04-17-2009, 10:43 AM	#7
RGallowitz AffiliateTeachings.com War Room Member Join Date: Feb 2008 Location: Where ever I want to! Posts: 1,165 Thanks: 30 Thanked 137 Times in 117 Posts Contact Info	Re: Is this price to much for my new membership? Establish yourself as a professional and get some credible testimonials from big players with big credits behind them and then charge MORE. Don't charge too low otherwise you get those crappy refunders. People who are serious about their business will pay $197 or MORE easier.
	Make INSANE money by promoting PHYSICAL affiliate products. The one and only "GALLO Affiliate System" - >> Click Here! <<

04-17-2009, 11:46 AM	#8
LMC 520+ sites and counting War Room Member Join Date: Apr 2009 Location: Brooklyn, New York Posts: 1,546 Blog Entries: 16 Thanks: 312 Thanked 1,316 Times in 301 Posts Contact Info	Re: Is this price to much for my new membership? I really appreciate all your comments. Right now, I'm trying to develop the best model possible for my idea. Here is the situation, I am an idea generator, that is all I do... I'm awesome at setting up the business online, making payment gateways, making marketing funnels, blogs, and designing a beautiful site. What I am not good at is, taking the niche sites and doing the marketing for them, not that I can't, I just don't have the motiviation there. Over the past 4 years, I have developed so many sites that are just not online because I don't have time to run them, and figured my best bet would be to create a business around these assets. Sam, you make some interesting comments, I really never thought about the member retainment which is obviously extremely important. In my eyes, I was thinking that once they download a business, and set it up to a domain name, if it profits, and profits well, why wouldn't they go into the next month with another download. Sam, in your other comment of the low monthly fee... do you think it might be a good idea to charge a low monthly fee to explore the warehouse, but then if you find a business you like there is a charge to download??? I guess it is something I have to think about.

04-17-2009, 11:48 AM	#9
hernan10 Banned Join Date: Apr 2008 Location: Dubai, UAE Posts: 170 Thanks: 55 Thanked 47 Times in 16 Posts	Re: Is this price to much for my new membership? Try advertising this at sitepoint. It should benefit you.

04-17-2009, 12:50 PM	#10
tnleverett Active Warrior War Room Member Join Date: Apr 2007 Location: , , USA. Posts: 33 Thanks: 36 Thanked 0 Times in 0 Posts	Re: Is this price to much for my new membership? Hey man, Just charge an "entrance fee" for each business and then require a percentage of whatever each business makes. Maybe I am way off here but it is just a random thought. T

04-17-2009, 12:56 PM	#11
LMC 520+ sites and counting War Room Member Join Date: Apr 2009 Location: Brooklyn, New York Posts: 1,546 Blog Entries: 16 Thanks: 312 Thanked 1,316 Times in 301 Posts Contact Info	Re: Is this price to much for my new membership? T, Another interesting view, however, it would be annoying to track all the equity, and chasing people for payments.