For a year, Josh Stevens says he will live on nothing but Groupons. Earlier this year the online coupon company threw down the gauntlet with the Groupon Challenge. Groupon put up $ 100,000 to see if someone was willing to live off nothing but Groupon coupons for a year. Stevens took them up on it. Travelling the country chasing Groupon specials for his basic needs, he’s about a one-quarter through living his life as the “Goupawn”. In Stevens’ Groupon lifestyle, life’s basic needs have integrated carriage rides, yoga classes and plenty of food. Source for this article – Groupawn tries to live on nothing but Groupon coupons for a year by Personal Money Store.
Groupon blog tracks discounted adventures
Previous corporate auditor Stevens accepted the Groupon challenge in May and left his cubicle behind. He told CNN that he began with one pair of shoes, socks, underwear and a paper suit made of Groupons. A laptop, camera, internet card and phone were also supplied by Groupon.Stevens cannot use or even touch money, but he’s supplied with online coupons that could be used for lodging, dining and buying. He has to go it alone, while family and friends are allowed only five visits lasting less than a day. He tracks his exploits within the Groupawn Blog as he barters using Groupon coupons for a place to crash, a ride or plane ticket.
Groupawn guy gains a following
Stevens gets a $ 100,000 windfall if he’s successful. The Milwaukee Journal Sentinel caught up with the Groupawn guy last weekend.He was hitting Milwaukee to take advantage of his latest Groupon deal. Stevens told the Sentinel that he thought he would have to do a lot more bartering on the street. He said people want to pitch in and help when he tells them about his adventures.He showed up in Milwaukee after pursuing Groupon offers for just a little more than three months in several United States cities including Washington D.C., Philadelphia and New York.
Getting into the Groupon business model
Groupons are daily deals offered by local merchants sold on the company’s website. Groupon sells offers online to about 11 million subscribers in 165 markets from 22 countries. When a certain number of individuals buy, within the deal becomes valid. When the quota is met, owners of the offer receive an email link that allows them to print their Groupon. If the sales quota falls short, the offer is pulled. Buyers aren’t charged for trying to cash in.
Groupons can be a double-edged sword
The Groupon business model has proven so lucrative that at least 500 copycat websites have emerged, according to the Chicago Tribune. But selling Groupon coupons can go haywire for an unprepared business . As reported in the Tribune, many Chicago merchants have been swamped by a tide of Groupon coupons. A bagel company in Chicago sold a Groupon coupon for $ 3 good for any item up to $ 8. Nearly 10,000 Groupons sold. After selling about $ 80,000 worth of food, the bagel shop netted just $ 15,000 after splitting the proceeds with Groupon.
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CNN
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Milwaukee Journal Sentinel
jsonline.com
Chicago Tribune
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