Singapore Expats

hello!

I'd have a few questions on concierge services (I am quite curious about the business model)

I read an article on someone who started a concierge service from Singapore. basically: you subscribe to his service and you get discounts on golf courses, free green fees, discount on the pro shop etcetc...

he managed to develop his business by providing a white label service to banks where he provides his service to the banks as their own "golf programme". To the client, the bank is providing the service not a 3rd party.

I was wondering where you get revenues from when you operate such a business as there are (at least) 4 parties involved:

golf, concierge, bank, client (+ visa / mastercard?)


I would say that you need to keep the pain to the minimum for the bank and client ($0 charged to the client and / or the bank) and that you get a cut on what is spent by the client at the golf (green fee, balls, golf clubs, lessons...).

If so: how do you account for what is actually spent by the client each time he goes golfing using your service (especially when you can have complimentary green fees...) ??

Whoever would like to start a service targetting banks would have to talk first to Visa/Mastercard or directly to banks in your opinion?

thanks

I am sure it all takes some work to get every stakeholders into the equation such that conceirge can make money.

I believe the key success factor here is the connection with golf course management and banks to buy in the idea.

It will also depend on who the target market is, in the scenario given in the original post for the concierge to make a profit they may have various revenue streams
the banks being one way to get information about potential customers in exchange for the service
the golf courses happy to share a small % to receive more customers and the concierge with an expanded database of potential customers to market to; these individual customers may bring in more revenue than the cost of referring customers to say for example an established golf course