What Is Groupon?

You’ve probably heard about Groupon. After all, they said ‘No’ to Google when Google offered them over $5 Billion for brand new company, Groupon.

Who says ‘no’ to Google? Groupon did!

Click Here Special Report: "Why Groupon Told Google NO"

Your next question just might be, “what is Groupon?” And, "what is making them so successful?"

Groupon and their business model are so new that it seems that the only people that know something about them are their millions of happy users – and Google, of course. How would you like to have your own 'Groupon' style website?

What is Groupon?

Groupon is an online based company that offers special deals to various cities in the United States. Groupon works with local businesses to create discounts that are offered to consumers. The discounts are generally greater than 50%, and consumers can buy up to two certificates for themselves and up to two certificates as gifts for others. Groupon does not only work with restaurants but with business that offer services such as beauty salons, massage, spas, specialty stores, carpet cleaning, car services, area attractions, and more.

Each day Groupon offers one special deal available for purchase in 24 hours. The Groupon purchase does not get confirmed until the minimum number of buyers have purchased the deal. If, at the end of 24 hours, the minimum number is not met, your credit card is not charged. The theory here is the collective power of multiple buyers helps drive down the cost, yet ensuring the business doesn't loose too much money by offering such steep discounts.

In some cities, Groupon may also release a side deal, which is a separate deal you can purchase during the 24 hour time period. This side deal does not always offer as deep of a discount as the main offer, but can still be used to save money.

How Does Groupon Work?

Groupon features a daily deal on the best stuff to do, see, eat, and buy in cities around the world. These cities are usually larger cities.

There is a new deal each day. You can sign up for daily alerts or visit the site each day. These deals can be tricky – first it has to meet a quota. Meaning the deal is not good until a certain number of people sign up for it and buy it – the collective buying power. If that number is not reached, you are not charged. If it is met, then the deal is live and rolling! Anyone can buy.

What Can I Do with These Gift Cards?

These make nice gifts – we all know how popular gift cards have become. Also, f you are traveling, it might a be a good site to check out a few weeks before you travel – you might find a great deal you can use while there! Most gift cards last for a year’s time.

Cities currently participating in Groupon:

Albuquerque, Chicago, Detroit, Kansas City, Milwaukee, Philadelphia, San Antonio, Tampa, Atlanta, Cincinnati, Fort Worth, Las Vegas, Minneapolis/St. Paul, Phoenix, San Diego, Virginia Beach, Austin, Cleveland, Fresno, Los Angeles, Nashville, Pittsburgh, San Francisco, Washington DC, Baltimore, Columbus, Houston, Louisville, New York, Portland, San Jose, Boston, Dallas, Indianapolis, Memphis, Oklahoma City, Raleigh, Seattle, Charlotte, Denver, Jacksonville, Miami, Omaha, Sacramento, St. Louis

Here's An Example of a Groupon:

Today in Los Angeles, get a Natural Peel Premium Facial at ForEver Ageless for $55 ($125 Value). There are much cheaper buys, Theresa found a $19 bowling night in Phoenix (retail value $50.)

Summary:

So, what is Groupon? Well, to be fair, the jury is still out. However, all indications are that they are on ot a very profitable business model. It comes at a time when technology allows shoppers to 'shop for the best prices' immediately and at a time when the economy has consumers constantly seeking the best deal possible. Groupon is clearly demonstrating that they've developed a very successful business model. Here's how to get your own 'Groupon' style website - Click Here