How To Make A Million Dollars With Deal-A-Day Type Site

Dave Chappelle-Fifteen(stand up comedy)

Deal-a-day sites--websites that sell one deeply discounted product each day--are sprouting up all over. They sell pretty much everything, from jewelry to electronics, in limited quantities at up to 90 percent off retail prices. These sites resemble blogs in that they're updated frequently and usually provide catalog summaries of previous deals shoppers can browse.

Deal-a-day sites were pioneered in 2004 by Woot.com in Carrollton, Texas. Founded by electronics wholesaler Matt Rutledge, Woot's product selection emphasizes computer components and electronic gadgetry--all at closeout prices.

Today, nearly 100 deal-a-day sites can be found on the web, many started by e-tailers looking to expand. One such entrepreneur is Ellen Craw, general manager and co-founder of Bits du Jour, which started in 2006. It sells downloadable software discounted 40 percent to 50 percent on average. Craw is also general manager and co-founder of sister site Ilium Software. She co-founded both companies with CEO Ken Morse, 48, and CTO Dan Amstutz, 50. The sites log combined annual sales of nearly $1 million. "I was a big fan of Woot," says Craw, 54. "I checked their site every day to see what they had and because it was so much fun."

[Via Entrepreneur Magazine]

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