Is it too late to set up a Joint Venture for Christmas?

10 replies
Hi everyone,

I was very sick for the past two months, so I couldn't get started a few weeks back on a project I had in mind. I am much better now, so...

There's a big jewelry store in my area who does constant billboard and newspaper adverts. They're trying to generate business. I thought I'd match them up with another entrepreneur who owns a gym and has about 3000 current and past members.

He's send a letter thanking them for their patronage, and tell them he negotiated a special 20% off if they'd bring the letter to mr. Jeweler as a token of his appreciation.

The markup for jewelry is high, so there would be a lot to split. Many years ago a JV expert generated $86,000 (split three ways) by setting up a deal between a jeweler and a pharmacist with a list of 10,000 clients. Not bad.

Most of the clients are men. And we all know how most men tend to shop late for Xmas.

Do you think I am too late to set something up like this?

Thanks a million!

BigG
#christmas #joint #late #set #venture
  • Profile picture of the author Jason Z
    Hey BigG, honestly I think you are right on the bubble of being too late. The holiday season is in full swing and Black Friday has come and gone. In order for a successful holiday jv to work it would have to get started immediately. Knowing business people like I do, and how they tend to drag their feet, I think it might be too late. Just my opinion, but this late in the game I wouldn't attempt a jv like you are talking about.
    Signature
    Co-Founder of the Local Profit Model Training Program for Offline Consultants

    Jason Zimmerman is an offline marketing and consulting professional. He has been developing web sites and digital marketing plans for local businesses since 2000.
    {{ DiscussionBoard.errors[5151351].message }}
  • Profile picture of the author biggoogle
    Thanks Jason, I really appreciate it.
    {{ DiscussionBoard.errors[5155128].message }}
  • Profile picture of the author thorster
    Dunno... sure it's late, but not sure it's too late.
    Can't really see the downside - set it up straight away and it should generate some business that should be beneficial to everyone.
    What sort of stake do you take in something like this?
    {{ DiscussionBoard.errors[5175356].message }}
    • Profile picture of the author ShayB
      Nope. I'm working on a deal right now.

      Think of businesses that get their big "push" in January - but aren't as busy right now.

      Gyms, weight loss clinics, etc. (Think "New Years Resolution"-type businesses.)

      But don't wait too long - after the middle of December I'd say it would be more difficult to do.

      Good luck!
      Signature
      "Fate protects fools, little children, and ships called Enterprise." ~Commander Riker
      {{ DiscussionBoard.errors[5175605].message }}
  • Profile picture of the author danielkanuck
    Maybe you could set up a "holiday special" joint venture where you offer last minute deals to the customers/clients of your JV partner. It is late in the game, but when it comes to JV's and Christmas/New Years time... better late than never.
    {{ DiscussionBoard.errors[5175987].message }}
  • Profile picture of the author Anthony
    I will suggest you target for the next one...a little too late I guess.
    {{ DiscussionBoard.errors[5176475].message }}
  • Profile picture of the author Richard Tunnah
    No...I think these types of deals are always valuable throughout the year. Remember you can get a fee from both. You can say to the jeweller that you'll bring more business through the door at no cost. They do the 20% discount but give you 10% for each customer that it generates. You can also say to the gym that any customer that takes up the deal and renews their membership you get 10% of the fee. Businesses will discuss this as they are paying out of profits from new business or renewed business.

    Good luck.

    Rich
    {{ DiscussionBoard.errors[5177521].message }}
    • Profile picture of the author midasman09
      Banned
      Some years ago a new Jewelry Store opened in November. I went in an asked the owner if he had any plans for marketing. He said he was, "ClueLess in the Marketing Area!...and would appreciate any ideas I might have!"

      So....I thought; "WHAT would motivate people to go to THIS Jewelry Store and BUY something?"

      Well....I remembered the promo I used in my wife's Antique Shoppe. I printed up some "$25 Certificates". These were 4 1/4 by 5 1/2 (a 8 1/2 by 11 sheet divided in 4ths on Green 24lb Stock)

      The Certs were GOOD for $25 Towards ANY purchase in the Shoppe.

      I then proceeded to print up 2,500 (250 sheets split in 4ths) and....I took them around to fellow retailers and GAVE them to the Owners to GIVE ONE TO EACH OF THEIR EMPLOYEES....and....I gave them to 2 local Gyms to give to their members as a "Holiday Gift"! (In fact, I got other sponsors to participate ad made up a "Booklet" of special offers)

      Our Shoppe was in a town where "Antiques" were appreciated.

      So....this was a HUGE success. The retailers loved it (a FREE Gift they could give to their employees that cost them nothing. Showed the employees that....the Boss Cares!) Employees loved it because they got $25 off ANY purchase (Granted....some Certs were redeemed for items priced around $25...so we didn't make anything on those BUT...we sold quite a few items priced at $200 and above. In fact one women jokingly asked if she could apply her $25 Cert towards the $2700 Table she was buying)

      So....if you were to make up a Sample $25 Gift Certificate....RIGHT NOW! (5th of Dec) And take it around to local Jewelers telling them that you will print up 5,000 of these Certs (my printer will print these on 24lb, black ink... for $60) ONE Jeweler WILL take you up on the Deal.

      You then give the Certs to local Gyms to give to their members as a "Holiday Gift"! (Gyms and Exercize places have members that pay a monthly fee and most "have money" and are in the Affluent class)

      Because you will only be working with 1 Jeweler....I'd charge $500 initially and $5 for each Cert redeemed! (Ya gotta Trust people!)

      Time's a-wastin',

      Don Alm
      {{ DiscussionBoard.errors[5178127].message }}
  • Profile picture of the author cjelome
    It is late in the game, but when it comes to JV's and Christmas/New Years time..
    {{ DiscussionBoard.errors[5177998].message }}
  • Profile picture of the author Tracy411
    Hi,

    I don't think it's too late. And like someone else mentioned, you could always make it a holiday special (Christmas and New Year). You don't know unless you give it a try. You could even use the example of the deal you cited here in the thread. Could open these businesses' eyes as to what they could gain from it. I just wouldn't guarantee them any specific return.

    I hope it goes well for you. Glad to hear you are feeling better. Continued good health to you

    Tracy
    {{ DiscussionBoard.errors[5178037].message }}

Trending Topics