Haggle4.com: James Palmer
Ex-management consultant James Palmer shares his wholesale haggle site and advises potential start-up owners to get some corporate experience first
Name: James Palmer
Staff numbers: 3
Location: Greater London
Date Launched: 26/08/2013
Tell us what your business does:
We allow consumers to haggle directly with wholesalers over the price of tech goods.
Where did the idea for your business come from?
The idea didn’t spring from one particular place – there has been a lot of media pressure on consumers to start standing up for themselves in getting the best deal and at the same time plenty of mechanisms in the retail world which take away control from merchants. We think our solution offers the best outcome for both parties.
How did you know there was a market for it?
When we spoke to wholesalers and manufacturers they were positive to the idea, and now we are getting sales through the site we know that consumers are attracted by the chance to make great savings.
What were you doing before starting up?
Personally, my last role was as a management consultant at Accenture, but previous to this I have worked across a number of different media outlets in marketing and strategy roles.
Have you always wanted to run your own business?
Yes. Though my passion was fostered during a stint running the student radio station at the University of Bath.
How did you raise the money?
Partly savings, small investors and partly through the StartUp Loans programme.
What challenges have you faced and how have you overcome them?
There are so many challenges in starting a new business it would be impossible to list them all, it is just important to be flexible and try to take knockbacks in your stride.
Describe your business model and how you make money:
We make money via commission on sale of goods.
What was your first big breakthrough?
Selling our first products… snap ’em up they’re going quick!
What advice would you give to budding entrepreneurs?
My main advice would be to build up some skills working in the corporate world first, there is always plenty of time to run your own business.
Where do you want to be in five years’ time?
Continually innovating and building on the success of our site (i.e. not just resting on my laurels!).