The company our consulting team is working for is called Sancho. It is a service that helps you sell and profit off of your item in the simplest and efficient way. It sounds similar to Ebay, but Sancho gets rid of all the hassle of selling your item. You send them a picture with some details, they come pick it, find a buyer, and ship it out. All the Sancho user has to do is send a picture and collect cash.
Sancho accepts every sort of product to sell, besides drugs, weapons, etc.
Our group is currently working with them to compile and questionnaire to send out to as many people possible, collecting data on students or adults. This will benefit Sancho is the sense that they will understand the economic needs of students, and how they can help them make the most out of their unused products, stress-free. I like this company a lot because in today’s society, many people want what they don’t have to work for. This start-up really takes all the difficulty out of making money, so I see a potentially large client base if they develop and take the right steps.
One flaw I see in the company is that EBay, their competitor, is already user-friendly, not really requiring that much work. Personally, I have sold a few items on EBay. All I do is take pictures, post the item, and check my email for anyone who is interested or wants to buy it. I don’t know if Sancho’s target market is students and young adults, but I do not think that many people would choose Sancho over EBay. EBay does take a percentage out of your sale, but Sancho will only increase this percentage, besides the fee you pay EBay. Unless they figure out more of an incentive for users, I m not sure how much potential success is visible in the future.
Our team will help the formulate an efficient questionnaire, as well as brainstorm some other aspects of their company they can improve to attract more users.