Fee / Free / Or Cheap?

محروم.كوم · #1 08-02-2010, 01:00 AM

I am not certain this is the best place to post this, but I cannot seem to find a ‘forum forum.’ I think I already know how most may answer this, but I’d still like to see some varied opinions and maybe some rational behind them, or why my reasoning may not be rational.

I am in the early stages of setting up a forum and have one question I would like to get some opinions on. My question is; should I attempt to charge membership fees right out of the gate, or wait until I build a decent subscriber list and then impose fees, or does the answer lie between the two? I am truly torn between my options on this subject and it is the ONLY thing I have any doubt as to how to proceed.

I don’t want to be too specific about the subject of my forum, but can offer some insight into the general nature of it. I was a paying member of a similar forum which has a paid subscriber list of more than 2,000 members who pay an average of $200 a year. I think there could be a higher earnings potential from a forum that can produce more, and higher quality content.

I’ve done a lot of research and to my knowledge, there is only one forum which covers this particular subject. This lone forum offers very little informative content, but what little information it does provide can be invaluable to it’s paying members. If the paying members achieve only one sale every two years from the information they glean from the site, they have easily recovered their subscription fee. But, I can assure you, most make far more than just one sale, so membership benefits far outweigh costs. It is a very unique community of people who specialize in ONLY one thing. And, there is only one forum which covers this subject.

I have extensive knowledge of the subject I wish to cover, and have a number of inside sources from which I can gain and post information no one else has, including the owner of the only other forum covering this subject. I have also been involved with this particular merchandise for 10 years and have compiled a list of about 100 websites from which I can glean and compile information into my forum. I would say that 90% of the information I plan to post can be obtained for free on the internet with 10% originating from inside sources and would be exclusive to my site.

Although 90% of the information is available at no charge on the internet, my thought is that it would still take someone 6 to 8 hours every day to sift through all of it. My thought is that I can assemble this information in one central place (my forum) and charge people to view it. I know this is hard to judge, but I would guess my site would have somewhere between 5 and 10 times more information than the only other competitor I would have.

If I decide to require paid subscriptions immediately upon launching the site, I know one of the most difficult tasks will be how to draw in paying subscribers. I have thought about that and I have about 50 associates that I could offer free membership to for a certain period (1 or 2 years) to get them to post. Most are currently paying members of the other site, so I would hope they could help draw in paying members.

I know many will think I am crazy (or stupid) to think for a moment that I can draw in paying customers right out of the gate, but people involved in this particular merchandise ALL have low to mid 6 figure incomes. I also know I would probably have to commit 6 to 8 hours daily to gather information from all the different sources. I do not think I can consider running any ads or other types of gimmicks; the type of clientele my site will cater to would not want to see them. I really believe if the site has a chance of being successful, it has to remain 100% pure and professional; no ads.

One other thought I had was to have a membership fee, but at a greatly reduced amount of the competing website until I can build up a decent member base. For the site to be truly successful, I know I will have to dedicate a lot of time every day to keep it in the forefront and relevant. Doing this would reduce my earnings from my ‘day job’, but I think the forum could replace that income within 2 to 3 years.

I’m hoping to get some opinions on whether to charge subscribers right out of the gate, or build a solid base first and then impose fees. Thanks to all who can offer advice, even if critical. __DEFINE_LIKE_SHARE__