The new virtual student market - profiting from hard work.
An interesting prospect has arisen from an unlikely group of young local entrepreneurs – focusing on the underserviced market of classroom note trading. Their site, ClassNotes.com.au, has focused on the niche market of note-trading by creating the online equivalent of this market, in Australia.
More specifically, the site acts as a market to interlink both buyers and sellers of Australian class notes; initially only focusing on tertiary studies. It highlights that its’ key success factors rely on creating an early consumer base, establishing key revenue streams (i.e. Advertising and eventual commissions) and opening to additional university/school campuses.
As Aravinth Balu, an Executive Director of CN highlights, ‘it’s an exciting prospect. The potential for this start-up venture is boundless, and we are only hours into product development. I am confident in its’ future success.’
Confident words from one of the heads of the new venture – in a market that is relatively un-explored in the Australian marketplace. Signs are promising however, with similar ventures in the UK and USA, projecting healthy revenue figures and online traffic; leaving the door open for this plucky venture.
Time will tell if the venture ultimately succeeds in such an unproven domain. However, the abundance at which students these days spend their weekly income, it will come as no surprise if this additional source of income becomes usurped into a student’s daily source of revenue.
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