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Terrific New Business Opportunity

Discussion in 'Off Topic Threads' started by pdq, Aug 8, 2011.

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  1. pdq

    pdq Member

    Joined:
    Aug 24, 2006
    Messages:
    934
    Driving to work this morning a new businness idea came to me -- leasing diamond engagement rings.

    Here's the basis. Lots of engagements get broken off, and then what do you do with the diamond ring? Most stores won't take them back, and if they do, it's pennies on the dollar.

    And, if the wedding goes through, we know that statistically, within the first 5 - 10 years (or within 2 years of children coming along) something on the order of 50% fail -- so again, what do you do with the ring? Please note that I am not promoting the idea of getting divorced after a few years -- I've now been married for approaching 20 years and am happy to have things continue in that direction, but statistics are statistics.

    Here's the idea -- be able to lease a diamong ring for:

    24 hours
    1 weekend
    1 month
    3 months
    1 year
    5 years
    10 years
    Until Death Do Us Part

    Because leasing diamonds is like leasing a car, you'll be able to afford a much larger, much more impressive diamond than you would be otherwise. That will immediately impress the woman, i.e you give her a 2 carat ring versus a .35. This can lead to some rather spontaneously romantic moments (hence the 24 hour and 48 hour leases being available). At least briefly -- presentation of a huge diamond seems to have a greater romantic impact than the best bottle of champagne.

    But then there's the question of collateral, i.e. how do you know that they won't skip town with your 2 carat mega buck diamond, never to be seen again?

    Answer: Who cares? In addition to setting up monthly payments, there is a down payment required (just like a car), and there is a buyout amount established as to what it would take to then buy the diamond stone at the end of the lease period. The company charges a sufficient down payment so that 50% of it is used to buy a high quality cubic zerconium stone, which goes into the ring (instead of a real diamond) that is leased, and we keep the rest.

    If all lease payments are made (totalling twice the cost of the real diamond), then at the end of the lease term the lessor has the option of buying out the lease, at which point the real diamond stone would be fitted into the ring. Or, the loose stone could be given to the lessor to be hidden away and the bride is stuck with the fake. Given we'd only provide high quality cubic zerconiums, who'd know?

    So -- at time of lease, we get 2X the cost of the ring with the zerconium up front -- the company keeps 50%. Then we get all the lease payments, knowing 50%+ of all engagements or marriages will fail prior to the end of the lease and we'll never hear from the dude again. Given a clause saying that if payments aren't received in 30 days as scheduled, they've forfeited, the lease is like an option that expires worthless, except the company keeps the up-front money, plus all the lease payments to date, without further obligation to deliver anything. If they make all the lease payments and then buy out the lease at the end, the total amounts taken in are 200% of the cost of the real diamond, which is then purchased and delivered in prime condition.

    Know anyone who've ever gotten married and divorced? Seems like there might be a market here.

    Just a thought on a Monday.

    Pete
     
  2. grnberetcj

    grnberetcj Active Member

    Joined:
    Jan 29, 1998
    Messages:
    5,680
    You can obtain "Marriage Insurance" from a number of different agencies....it'll cover most of what you're thinking, plus a bunch of other items...

    Those insurance thieves will steal from anybody on anything.

    Curt
     
  3. pdq

    pdq Member

    Joined:
    Aug 24, 2006
    Messages:
    934
    Curt:

    When my daughter was planning her wedding a few years ago, we seriously considered "marriage insurance". It was actually pretty affordable for what it covered, especially if you were having some really expensive shindig. We took a pass on it as what she planned was extreely small and simple.

    It didn't take into consideration what I'm proposing, but it covered a lot of other things surrounding the marriage ceremony, i.e. presents get stolen, venue burns down and date has to be cancelled, major illness of the bride/groom, someone spilling wine on the brides gown, just about everything other than one, i.e. cancelling the wedding due to "Change of Heart".

    My plan would provide involvement way past just the ceremony.

    Pete
     
  4. W.P.T.

    W.P.T. TS Member

    Joined:
    Jan 29, 1998
    Messages:
    8,371
    I always thought there should be learners permits to make sure things are going to work or not and save a bunch on lawyers after the fact ... WPT ... (YAC) ...
     
  5. Pull & Mark

    Pull & Mark Well-Known Member

    Joined:
    Mar 9, 2006
    Messages:
    5,404
    From what I've read, Marrage's are on the decline these days, but alas, maybe you can get in the gay marrage's that are opening up??? The divorce rate may be even higher in this market place. Good Luck and Break-em all Jeff
     
  6. Barrelbulge(Fl)

    Barrelbulge(Fl) Banned User Banned TS Supporters

    Joined:
    Aug 27, 2007
    Messages:
    11,666
    Location:
    West Central Florida
    Met my wife in Feb. of 1970. Got engaged the end of Apr. 1970 and got married 8/28/70. Still married to her. You would go broke on people like me. Bulge.
     
  7. Tron

    Tron Supporting Vendor Supporting Vendor

    Joined:
    Jan 29, 1998
    Messages:
    6,653
    Wedding cake and Bj's are soon gone right after the "I do's" as well. Perhaps there's a way to cash in on this too?
     
  8. Ross

    Ross Well-Known Member

    Joined:
    Jan 29, 1998
    Messages:
    2,636
    50 years & counting, best money I ever spent. Ross Puls
     
  9. trapshootin hippie

    trapshootin hippie Well-Known Member

    Joined:
    Apr 9, 2007
    Messages:
    5,240
    Marriage is the main cause of divorce.


    GneJ
     
  10. twotimer

    twotimer Member

    Joined:
    Jan 18, 2010
    Messages:
    466
    Came home the other night and my wife was packing a suitcase. I asked where she was going and she said she was leaving me. She said she was going to Vegas where she could get $1000.00 for what she gave me free. I went and got a suitcase and started packing also. she asked where I was going. I said I'm going to Vegas with you. I want to see how you are going to live on $3000.00 a year. Mike
     
  11. Big Heap

    Big Heap TS Member

    Joined:
    Jan 29, 1998
    Messages:
    1,748
    Bought the diamonds for my wife's ring out of the trunk of a trapshooter friend's Buick in the parking lot of the Spokane Gun Club. He was a diamond wholesaler and had a complete selection of stones. I picked what I wanted and he had one of his customers set the stones.

    About ten years later my wife selected a setting she prefered and had the stones reset.
     
  12. twotimer

    twotimer Member

    Joined:
    Jan 18, 2010
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    466
    Big Heap, I have been married a couple of times 1st time 20, working on 12 now. Bought both diamonds from the same pawn shop and had it set to brides' specs. There is no such thing as a used diamond. Mike
     
  13. WS-1

    WS-1 Banned User Banned

    Joined:
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    3,885
    100% of all divorces begin with marriage.
     
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