Chris KoernerSerial Entrepreneur and Content Creator

Ho to Compete Against the Knot and Start a Wedding Marketplace

16 Aug 2024 · 1 min

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Chris Koerner criticizes thenot.com (The Knot), alleging poor customer service and fraudulent leads for wedding venues. He recounts spending an hour on the phone trying to get a listing price ($5,400/month) and then researching the company, claiming it has $3 billion in annual revenue, an F rating with the Better Business Bureau, and thousands of complaints alleging fake leads. He proposes building a competing wedding marketplace that aggregates competitors, charges $0 for listings, and takes a percentage of bookings.

Questions this video answers

$3 billion in annual revenue.

$5,400 per month.

An F rating.

Chapters

Heard of this company, thenot.com. it's the biggest wedding registry website in the world. $3 billion in annual revenue. And they have a massive problem that anyone can profit from. I spent an hour on the phone with these guys today just trying to get a price to list my wedding venue for rent. $5,400 a month. And it took them an hour to tell me that number, which made me angry. So I spent the next hour digging up dirt on the company, figuring out why they were so terrible. And I learned some startling things. My friends. I learned that they have an F rating with the Better Business Bureau, that thousands of complaints that the leads that wedding venues get from them are frauds, are fakes. They're not real. So basically, people aren't getting enough leads. So the Knot is faking leads. So they'll keep paying them $5,000 per month. That is alleged, that is. I don't know if that's real or not. But what I'm saying is there is a world where you can Compete against the Knot.com by scraping all of their competitors, putting them on your own website, charging $0 for bookings, and just charging a percentage of any wedding booked. Follow me for more business ideas like this.