Jan 8, 2024 2 min read

The Square Deal

We are truly delighted to have got this project over the line.

We have taken no external investment and have trusted our abilities. The business model has taken some development, most notably in pricing and who we charge.

Our elevator pitch is simple:

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You know all those items that you accumulate over time? Freecycle it, sell it, find its value, swap it or rent it with Squaredeal. It's the place to deal with all your stuff and best of all its free for sellers.

The origins of the business model answered a very simple question. What do you do with all the things you have in your shed, your loft, your garage or the back of your cupboard? What do you do with all your stuff when you move house, downsize or deal with a probate?

Ebay is expensive and you can't give stuff away. Facebook Marketplace seems time-consuming and inconvenient. Shpock and Craiglist seem to have lost their way. Vinted is a class act with a similar charging model but a pre-occupation with clothing.

There are many other sites and APPs that sell your stuff but we do not feel that it helps with your dilemma. What do you do with ALL your stuff? We want to enable donation or giving stuff away as much as selling, swapping or renting.

I have experience in running a provincial auction hall. They charged both the seller and buyer up to an eye watering 40% income from sales, sometimes with additional charges. The justification is that they have large physical locations with many staff required to pick stuff up and put stuff down. In addition their public auction status is ideal for transparent sales required when dealing with probate.

For us, we experienced the potential market size specialising in probates in Birmingham (UK) and the wider West Midlands. Outside of this secondary market growing with the gig economy, the obvious gap in the market appeared when sellers want a solution for everything.

They may want to give their baby items to another family, whilst selling a bike, whilst wanting offers on Grandad's train collection, whilst swapping a computer game and renting Uncle Pete's time as a children's entertainer.

Version 1 is a dating service. We match buyers and sellers and leave them to do the deal. Buyers pay a £2.99 monthly subscription for the added value, which can be cancelled at any time. We want to be dealmakers as opposed to a form of retail.

Version 2 will consider dealing with delivery. We will be having large items uploaded, such as your sofa or lawnmower, so traditional couriers will have trouble dealing with these. We will also be considering undertaking the transaction for buy options, however need to consider who pays for expensive, secure online transactions.

As with any new business, in particular one that is delivered online, there are no givens. We know that a need exists, we intend to fill the gap in the market and have used the most modern and secure of tools to build the solution.