Business idea · Marketplace
Local Auction Sourcing Network
Local Auction Sourcing Network: This business connects local auction sellers with buyers looking for specific goods, facilitating transactions and providing a marketplace for unique finds. It was pitched on Koerner Office, hosted by Chris Koerner, in the episode "Asymmetric bets & flipping high ticket items for profit with Shannon Jean. Part 1 of 2. Ep. #038" (aired July 12, 2024).
At a glance
| Podcast | Koerner Office |
|---|---|
| Hosted by | Chris Koerner |
| Episode | Asymmetric bets & flipping high ticket items for profit with Shannon Jean. Part 1 of 2. Ep. #038 |
| Aired | July 12, 2024 |
| Category | Marketplace |
| Real companies on the episode | Mac Rescue |
The problem it solves
Buyers often cannot find niche items that are available at local auctions, leading to missed opportunities for unique purchases. Current auction platforms lack targeted tools for connecting specific buyers with sellers, resulting in inefficient transactions and wasted time.
How it makes money
Marketplace platform with transaction fees.
Skills you need
Platform development and management User experience design Marketing and community engagement Negotiation and deal facilitation Customer support
The market, and why this works now
Local auction platforms like Invaluable and LiveAuctioneers have seen increased user engagement due to the rise of niche collector communities on social media. These platforms can be leveraged to connect local sellers with buyers seeking specific items through targeted advertising in relevant Facebook groups or Instagram pages. A potential risk is the initial capital required for platform development and marketing, which may lead to a longer customer acquisition cost payback window than anticipated.
Our analysis, written after the episode. Not a quote from the show.
Real companies discussed on this episode
- Mac Rescue
Founded by Shannon Jean, Mac Rescue is a tech repair company that specialized in fixing Apple products. It leveraged the growing demand for Apple repairs during both the company’s highs and lows in the market, thriving by providing a reliable service at a time when options were limited.
Where this idea came from
Podcast: Koerner Office, hosted by Chris Koerner
Episode: Asymmetric bets & flipping high ticket items for profit with Shannon Jean. Part 1 of 2. Ep. #038
Aired:
Summarized from the episode transcript. The show does not say which speaker raised each idea, so we credit the show, not a person.