Dara O'Mahony wants to save you €1,500 a year on groceries. Not a bad proposition as the Budget looms. He also hopes to capture a €40m-plus retail market in the process.
O'Mahony started Dome Telecom in 2000, selling phone cards to Polish builders. Dome now has contracts with the defence forces and white label prepaid internet and phone products.
Taking his telecoms market pricing savvy and a belief that Irish consumers are being overcharged for groceries by about a grand and a half compared to our UK neighbours, he has set up Buyersclub.ie -- an online grocery retailer and "social media superstore" selling cornflakes, nappies, tea, coffee and more in bulk at discount prices far cheaper than the multiples. It also provides a platform for small Irish companies to sell competitively.
Based on an Irish grocery market worth €8bn, with 1 per cent of that in online sales, O'Mahony sees potential for sales of €8m in the near term. "Then let's say the online market grows as it has in Britain to be worth 8 per cent, that's €40m. We want a piece of that -- as much as we can get."
Online grocery retail is expected to make up 25 per cent of sales in future years, heralding further potential.
He's put circa €500,000 of his own cash into the plan. Launched just three weeks ago, Buyersclub has 1,000 customers. "We hope to have 30,000 registered by this time next year and should easily surpass 100,000 within five years," he said.
Sunday Indo Business