“We are excited about the prospects for our new business,” said Brian Thomas, Founder and CEO of CashOff. “Initially we will target South Florida and then we expect to roll CashOff out nationally.
FORT LAUDERDALE, FL (PRWEB) November 12, 2014
CashOff announced the filing of a Patent with the United States Trademark Office today. The Patent application covers a new and unique type ofdiscount offering and marketing that is disruptive to existing businesses in the daily deal and coupon space.
CashOff has been in beta for about a year offering a Do It Yourself online app that allowed any
business to create, share and print online coupons. Despite enthusiastic feedback from early adopters, market penetration did not meet the projections. The Company realized the average merchant simply did not have either the time and/or expertise to implement a DIY coupon program. In addition, the Merchants interviewed by the Company constantly complained that Groupon and the other daily deal sites are too expensive. CashOff’s patent-pending solution solves these problems and adds social media to the mix.
The CashOff is exactly what the name implies, “cash off” of a product or service. In contrast to ordinary coupons that usually offer nominal savings and are free, CashOffs will be earned or
purchased. Most will be obtained for free by sharing the CashOff with friends on social media but they can also be purchased for a small price. For example, a CashOff that provides $25 off of a $50 meal might be priced at $1.50 initially but the consumer could earn the CashOff for free by sharing it with his friends on social media websites like Facebook, Twitter, and Google+.
Merchants will benefit from a less expensive coupon or daily deal solution when compared to existing websites like Groupon. They will also receive greater social media distribution of their discount offers because of the manner that this patent pending coupon integrates social media. Consumers will benefit as many of the coupon offers they will find on the new CashOff.com website will be available for free just be sharing on social media.
“We could not be more excited about the prospects for our new business,” said Brian Thomas,
Founder and CEO of CashOff. “Initially we will target South Florida and once we have an established foothold in the marketplace we will roll CashOff out nationally”.
About CashOff Inc.
CashOff is launching a unique web based business model that will be disruptive to Groupon and the other daily deal sites that account for over $6 billion dollars in annual discount deal revenue.
Unlike the other daily deal sites, which keep up to 50% of the revenue of any “deal” offered by a merchant, CashOff is inexpensive for the merchant and substantially more viral because it
incorporates the use of social media to increase distribution and use. Because of its low cost and viral features CashOff appeals to significantly more business than its existing competitors. .
Founder, Chief Noise Maker and CEO