Stefan Lageri-Schmidt Jensen
Community powered marketplace
Tell us what your business does:
Teamdeal.co is a community powered marketplace that puts buying power in the hands of the people.
Where did the idea for your business come from?
Wanting to give small businesses the same buying power as big companies by creating a space where they can group together. The whole bidding from suppliers model was developed to suit these needs and we thought why not do the same thing for individuals as well.
How did you know there was a market for it?
The whole group buy thing was already big and companies have always used purchasing to drive down prices. Who doesn’t want better prices? Also, social media sharing is a great tool for promoting what we want to do.
We also did some market research surveys with positive outcomes.
What were you doing before starting up?
Working as a product manager at SAV Systems Ltd.
Have you always wanted to run your own business?
How did you raise the money?
So far, we haven’t had any funding other than our own money.
What challenges have you faced and how have you overcome them?
Finding the right people for the team.
Finding the right concept.
Balancing the daily work and teamdeal.co work between four people.
How much do you charge?
Suppliers are charged £19.95 a month when they want to post an offer to a team, unless it’s the suppliers 1st offer to a team. 1st offers and re-offers to that same team are always free for suppliers.
Teamdeal.co is completely free for shoppers.
What was your first big breakthrough?
Assembling the team and launching this month.
What advice would you give to budding entrepreneurs?
Keep the faith.
Don’t give up.
Find your proposition and your uniqueness.
Where do you want to be in five years' time?
We would like Teamdeal.co to be the united marketplace where shoppers and suppliers meet and exchange goods and services. We want Teamdeal.co to be the only place people have to go to when shopping.