VirginStartUp of the week: Tiny Red Ltd
The great British high-street has faced tough times in recent years with more customers moving online. But our Virgin StartUp of the week is planning to change all that in his town with the launch of his local discount card, Tiny Red.
Elevator pitch: Sum your business up in two sentences:
Tiny Red is a new discount card for Northampton, offering great deals on everyday products and services across the town. Built exclusively for Northampton, the cards’ aim is to bring customers back to the high street, and to discover great shops and businesses they may not have known existed.
What's the business model?
It is completely free for shops and businesses to join Tiny Red, although they can choose to advertise across our website, printed literature and on our mobile apps. The company makes money both from this advertising, and from the sale of the cards for £5.
Who are your competitors?
There are currently no other discount cards in Northampton, but many across the UK. Once we move into other towns, competition will be rife but we feel we have a great brand and model to compete with these.
What's your USP?
The fact that it is free for businesses to join is a great USP for Tiny Red, as well as our aim to help the High Street and local businesses.
Where did the idea come from?
I have worked in marketing for around 10 years, and Tiny Red is essentially a marketing product. We promote local businesses through the card, while helping customers achieve discounts on their favourite products and services. The idea came from the desire to help Northampton and to promote lesser known shops and businesses.
How much funding did you receive from Virgin StartUp?
£5,000
How are you going to use the money to grow your business?
The money will be used to promote the card across the town, as well as purchase initial stock, literature and supplies to get the card up and running before the launch on the 31st March.
Who’s your Virgin StartUp mentor?
Craig Pearson
What challenge are they helping you overcome?
Putting the cards in the hands of the right people, and ensuring as many people across the town as possible know about the card and the discounts available.
What’s the best advice you’ve received?
Keep an eye on the competition, but don’t let what they are doing rule your business.
What’s your workspace like?
We are moving into our first office in two weeks time, but for now it’s a small desk at home, surrounded by Tiny Red leaflets and a giant Tiny Red card!
Where will your business be in 12 month’s time?
We hope to have the card in as many Northampton residents pockets as possible, as well as to achieve our goal of at least 150 shops and businesses. We will also start to look at expanding the card outside of Northampton.
For more information, head to www.tinyred.co.uk follow them on Twitter @Tinyredcard or like them on Facebook
How to thrive and create joy at work
Is it about flexible working, table tennis in the office, sleep pods, or being transparent about salaries? How should businesses and entrepreneurs ensure the wellbeing and happiness of the people they work with?
How do you thrive and create joy at work? We’ll be exploring this fascinating topic in a Google Hangout moderated by Guy Kawasaki with legendary entrepreneur Arianna Huffington and workplace pioneer Richard Sheridan and we’ve love to hear what you think. Instagram or tweet your ideas using the hashtag #workthrivejoy. Lee Wallis from Tiny Red will also be joining the chat and explaining his business to our fantastic line up of entrepreneurs.
Join us on Monday 31st March, at 6pm: https://plus.google.com/events/c31m6iupmqjo8eiti8m27hht82o