Whilst I’ve lost track of the number of online portals that now offer personal and small business loans, one niche that hasn’t had as much attention seems to be education loans. I’m not talking university / tertiary loans – I’m talking about school fees. Those 12 years of education before your kids get to the next stage!
From personal experience, I can tell you that if you have two kids at non-government schools, you have to budget a decent 5 figure sum each and every year. Most people of my age actually have a double celebration when their progeny finally finish school – one part so happy for their sons and daughters achievements – the other is “selfish” ecstasy. “NMSFD” – “No More School Fees Day”!
As with most things these days, there are alternate online solutions available for school fee loans. I read with interest this article in The Weekend Australian by Rick Morton. He describes one such niche enterprise:
“As cash-strapped families increasingly turn to credit to handle the cost — personal loans and credit cards have been a staple — a new venture, EdStart, has entered the market.
The finance start-up, founded by Jack Stevens, 28, saw a gap in the market for a product that takes care of school fees for all the children in a family over the life of their schooling and has doubled in growth each month this year.”
Edstart seems a great concept – a simplified system to take care of school fees for the duration – and because payments are spread out, the monthly costs become more manageable for many parents. They have some good partners on board, so I hope it is a success for them.
To my mind though, the domain name Edstart.com.au is ok – but it’s not wonderful. (Others may like it! ). I suppose it could well be a play on the words “Head Start”?
If it were me, I would have gone for something more keyword descriptive for their niche. Or if they had a good marketing budget, then a memorable brandable would also be good (like Nimble.com.au).
When one of my previous clients wanted the best domain possible for their business loan enterprise, I acquired them BusinessLoans.com.au. Says what it does!
I wish Edstart well.
P.S. If they (or someone else) want EducationLoans.com.au, then they should twist my son Luke’s arm! I’m sure he’d part with it for a fair price. 🙂
Ned O’Meara – 12 June 2017