Saturday 15 May 2010

Hotpoint Willie (ii)

Following on from the idea of selling the machines, the next logical step would be to hire them out/ sell via hire purchase.

For a very short time I worked for a company called Buy As You View. Whilst they were the most disorganised shower I've ever had the misfortune to be employed by, I did like their business model. White goods and TV's are dished out without credit checks. Payments are made via a coin operated meter attached to the device. Rates are exorbitant, as would generally be expected when no credit check is made.

My twist would be that I wouldn't do a monthly collection. Rather I would set the meter up to give a full reading at a pre-agreed price, say £75. At that point, or 1 year whichever sooner, I'd visit the client and remove the meter. I'd offer free servicing and if the machine were to break down I'd swap it out for another one in stock.

This business is built on bootstrapping techniques so would not cost a lot to set up. A consumer credit license would be required I believe but there are other spin-offs which I will talk about later that could utilise this piece of bureaucracy.

To garner goodwill and build up the image of the business I'd offer to wash local kids football team strips for free. Not only would this be a good thing to do for the community, it would also offer a chance to test that the machines were working.

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