“Recession has been very positive to us because it encourages more people to save money. Looking for discounts and coupon codes is not seen as cheap or tucky. To the contrary, you are seen as being cool and clever”. Mark Pearson, CEO and founder of MyVoucherCodes.co.uk
The story of young successful entrepreneur Mark Pearson began back in 2006, when at the age of 27 he started his own business My Voucher Codes. He created a website containing the list with all available retail and discount vouchers.
In 2008., the year when the recession started and at the time people in the UK who were not prone to using vouchers and coupons like the people in US, pressed by the crisis started looking for a way to reduce their costs, his website became a real hit.
In it’s first year the company had a turnover of 300.000 pounds, and it continued to grow over the years. Today, My Voucher Codes is one of the most popular discount websites in the UK, and Mark Pearson has made a fortune.
The foundation of his business model lies in the commission My Voucher Code gets every time someone uses a coupon listed on the website. Meaning, every time someone buys something in a store or an online shop using the code from My Voucher Codes, the company gets a commission.
Today Mark’s business model is used by over 60.000 companies in the UK, United States, France and Germany, and only in UK there are 6 million people subscribed to his weekly offers, which clearly indicates that this is a very successful business idea.
When he started the company, Mark didn’t go to stores and restaurants asking to put their discount vouchers on his website, instead he was searching for vouchers online and he became a member of many affiliate marketing groups where online retailers were offering their coupon codes and promo deals, and he started to offer those on his website for a commission.
This idea was born while Mark was still running his florist business. One day he was contacted by a flower company and asked if he could put their discount code banners on his website which had decent amount of traffic, so they offered him a commission for every sale they would make through those banners.
After he sold My Voucher Codes for 55 million pounds, Mark turned to investing in new companies and new ideas.