Introduction
what is it? how can it help your group buy? oSplit overview
Group buy and group sharing are collaborative approaches that allow individuals to pool their resources together to achieve common goals, save money, and enjoy shared benefits.However, organizing a group buy and group sharing can be challenging, involving tasks like finding participants, managing item Reservations, communicating item availability, tracking payments and cancellations, determining goal achievement, and dividing the purchase.
oSplit is a platform that facilitates peer-to-peer group buying and/or group sharing, allowing organizers to create Deals and participants to join and split costs among friends, friends of friends, or nearby individuals.
With oSplit's Trigger, you can efficiently handle different group buying/sharing goals, such as reaching a specific amount of money raised, a certain number of tickets sold, or a specific number of complete packages/bundles.
The Collab Wallet tracks consolidated balance between two users, facilitating the accumulation of Reservation charges and streamlined refund processes to avoid credit card fees.
oSplit keeps track of available items and participants' Reservations, making it convenient to check items' availability, especially for limited quantity items.
Additionally, oSplit provides item manifests for each participant, simplifying the division and delivery/pickup process. The platform also offers other useful features like tier pricing support, built-in chat functionality, reviews, deposits, and cancellation deadlines, all aimed at making group buying and sharing effortless.
Best of all, the platform fee is typically very low, and sometimes even free.
Have you ever wished you could purchase a few tickets at a discounted bulk price? Or share a boat on a weekly basis instead of renting it year after year? Or enjoy just the chicken breast at discounted whole chicken price from your local restaurant?
If only you can find a group of like-minded individuals, you can split the cost and enjoy these benefits without breaking the bank. Organizing a group buy can be challenging as it requires finding enough interested participants who may have different preferences and needs. Additionally, when sharing assets like a boat, there may be concerns about Dealing with unfamiliar individuals. However, that's only half of the challenge.
The other half involves keeping track of who reserves what, not only to determine what to buy and how much each participant needs to pay but also to decide if it's feasible to make the purchase at a given time. This includes updating Reservations for limited items to make it easier for potential participants to see what's still available. Even without any application, tracking interest in tickets, boat weeks, or chicken parts can be as simple as counting the number of interested individuals and assigning based on a first-come, first-served or random basis.
If only you can find a group of like-minded individuals, you can split the cost and enjoy these benefits without breaking the bank. Organizing a group buy can be challenging as it requires finding enough interested participants who may have different preferences and needs. Additionally, when sharing assets like a boat, there may be concerns about Dealing with unfamiliar individuals. However, that's only half of the challenge.
The other half involves keeping track of who reserves what, not only to determine what to buy and how much each participant needs to pay but also to decide if it's feasible to make the purchase at a given time. This includes updating Reservations for limited items to make it easier for potential participants to see what's still available. Even without any application, tracking interest in tickets, boat weeks, or chicken parts can be as simple as counting the number of interested individuals and assigning based on a first-come, first-served or random basis.
In reality, tickets can have different prices for various age groups, optional add-ons like prepaid parking or fast track, and varying prices for weekdays and weekends. A person may reserve multiple tickets with different prices.
When it comes to boat sharing, certain weeks, like holidays or summer, are in higher demand, while other weeks, such as winter, may have less interest. Instead of requiring all weeks to be reserved for the Deal to proceed, a flexible approach is adopted, where some weeks cost more and some cost less. As long as the combined Reservations cover the boat's cost, the Deal is on, allowing for multiple lower-cost weeks or a few higher-cost weeks to remain unused if needed.
To prevent participants from double-booking, the organizer must keep potential participants informed about the reserved weeks out of the total 52 weeks. When it comes to buying whole chicken, someone might have a preference for specific cuts, like thighs. However, a whole chicken includes 2 breasts and 2 thighs, creating an issue if everyone in the group desires only chicken thighs.
It becomes increasingly complex when Dealing with multiple chickens or buckets of chicken with different prices. Each part of a whole chicken or bucket must be reserved before making the purchase.
To prevent participants from double-booking, the organizer must keep potential participants informed about the reserved weeks out of the total 52 weeks. When it comes to buying whole chicken, someone might have a preference for specific cuts, like thighs. However, a whole chicken includes 2 breasts and 2 thighs, creating an issue if everyone in the group desires only chicken thighs.
It becomes increasingly complex when Dealing with multiple chickens or buckets of chicken with different prices. Each part of a whole chicken or bucket must be reserved before making the purchase.
While advertising a group buy on social media, a chat group or a forum can help track simple Deals, it becomes challenging to monitor who buys what and for how much when Dealing with a large volume of participants. In chat groups, not everyone may be interested in the particular Deal, and some individuals may leave due to unwanted noise.
However, one advantage of advertising within your social circle is that you know your friends and can identify trustworthy people for sharing expensive assets while also being aware of those to avoid.
Although there are numerous e-commerce websites that facilitate inventory management, they often do not support group buys, which involve achieving a specific goal to unlock a target price or determine whether the Deal is viable.
Crowdfunding models are not iDeal either, as they typically involve new or unique product and require thorough vetting to enable selling through a crowdfunding website.
While there are several group buy, flash sale, and co-op websites where products can be purchased at discounted prices, they may not offer the exact products desired, especially from local establishments.
Additionally, these platforms usually restrict product sales to the platform owner or require organizers to buy from specific vendors.
more on Difference with Other Platforms
Additionally, these platforms usually restrict product sales to the platform owner or require organizers to buy from specific vendors.
more on Difference with Other Platforms
"... I wish there were a better way to do this"
Introducing
oSplit
It is an application that taps into your existing social networks to enable you to create and organize your own private group buying and group sharing.
Your own: as in you (the organizer ... not the platform owner) have the freedom to create and organize any type of group buy or group share you desire. You are not limited to products from specific stores, factories, or farms.
You have control over various aspects such as choosing the items to split, determining the cost of each item, specifying the conditions for splitting, specify who can participate, setting priority for each Reservation, defining the credit limit for each participant, the quantity of items available for Reservation, setting the end date of the Deal, and how the items will be delivered.
The platform assists you by keeping track of participants and their Reservations, even if they add, modify, or cancel their Reservations. It also maintains records of payments made and outstanding amounts, displays the availability of items for Reservations, indicates the status of the Deal (whether it's on, off, or has reached the maximum), allocates items, and notifies both you and the participants at each step of the process.
more on How It Works
more on How It Works
Private: as in allowing only a specific people (participants) to join your group buy or share, such as your friends, friends of friends, or individuals in close proximity to your work or living area.
These individuals can view and make a Reservation to the Deal, and optionally, be approved before allocating Reservations. Why purposely limit the potential participants? You can create a sense of trust and security among the group (organizers and participants), rather than sharing with random strangers, as exemplified by the boat-sharing scenario.
more on Participant
These individuals can view and make a Reservation to the Deal, and optionally, be approved before allocating Reservations. Why purposely limit the potential participants? You can create a sense of trust and security among the group (organizers and participants), rather than sharing with random strangers, as exemplified by the boat-sharing scenario.
more on Participant
You have the option to select the type of participants for each of your Deals, including participants from your social connections, such as friends, friends of friends, nearby individuals, or even a custom group.
This flexible selection process allows you to define the desired participant pool without the need to specify each person individually.
This flexible selection process allows you to define the desired participant pool without the need to specify each person individually.
Group buying: as in, purchasing or making a bulk quantity of products at a discounted price and subsequently splitting them among the participants.
For instance, you can buy a box of apples and distribute them among the participants. Moreover, the products involved in group buys are not limited to those that are not traditionally divisible.
For example, you can buy whole chickens and split them into parts (e.g., 2 breasts, 2 thighs, and optionally 1 head per chicken) to be shared among the participants.
see examples
For instance, you can buy a box of apples and distribute them among the participants. Moreover, the products involved in group buys are not limited to those that are not traditionally divisible.
For example, you can buy whole chickens and split them into parts (e.g., 2 breasts, 2 thighs, and optionally 1 head per chicken) to be shared among the participants.
see examples
Group sharing: as in, sharing an asset with the participants.
For instance, your group can collectively purchase a boat, and each participant can exclusively use it for a week. Sharing can extend beyond usage sharing and include benefits and profits sharing.
For example, creating a shared playground in a community space, jointly owning an apartment complex for rental income distribution, or collectively acquiring and operating a factory.
see examples
For instance, your group can collectively purchase a boat, and each participant can exclusively use it for a week. Sharing can extend beyond usage sharing and include benefits and profits sharing.
For example, creating a shared playground in a community space, jointly owning an apartment complex for rental income distribution, or collectively acquiring and operating a factory.
see examples
Trigger
In the previously mentioned examples, the ticket Deal was triggered when a certain number of tickets were purchased, irrespective of ticket types (kids, adults, or seniors).
A boat share Deal cannot be determined solely based on the minimum number of reserved weeks, as insufficient Reservations during preferred weeks may result in inadequate funds to purchase the boat. Instead, the trigger for a boat share Deal is the amount of money raised.
Similarly, for the chicken Deal, simply counting the number of Reservations for individual parts is insufficient, as all parts of a bundle must be reserved together to qualify as a complete bundle. Triggers in these cases determine if the Deal is on or off.
more on Deal Trigger
In the previously mentioned examples, the ticket Deal was triggered when a certain number of tickets were purchased, irrespective of ticket types (kids, adults, or seniors).
A boat share Deal cannot be determined solely based on the minimum number of reserved weeks, as insufficient Reservations during preferred weeks may result in inadequate funds to purchase the boat. Instead, the trigger for a boat share Deal is the amount of money raised.
Similarly, for the chicken Deal, simply counting the number of Reservations for individual parts is insufficient, as all parts of a bundle must be reserved together to qualify as a complete bundle. Triggers in these cases determine if the Deal is on or off.
more on Deal Trigger
Collab Wallet
In traditional online purchases, sellers often increase prices to cover the payment gateway fee, which varies based on the sale amount, such as 52 cents for $5 (over 10%) or 30 cents for $2 (almost 20%). However, usually, you don't use a credit card to pay your friends, and you don't expect your friends to pass on the payment gateway fee to you.
Sometimes, you don't even ask them to make upfront payments for small or even large purchases, especially when it involves someone you trust. This platform is primarily designed for group buying with friends, mimicking the way friends handle financial transactions among themselves. Collab Wallet operates as if two users issue virtual credit cards to each other, consolidating their balances into one. Just like a credit card, users can extend credit limits to each other, allowing for negative balances, facilitating Reservations without upfront payment.
When a Reservation is allocated, the Collab Wallet is charged accordingly, and the outstanding balance is settled upon the completion of the Deal or at an agreed-upon time.
more on Collab Wallet
In traditional online purchases, sellers often increase prices to cover the payment gateway fee, which varies based on the sale amount, such as 52 cents for $5 (over 10%) or 30 cents for $2 (almost 20%). However, usually, you don't use a credit card to pay your friends, and you don't expect your friends to pass on the payment gateway fee to you.
Sometimes, you don't even ask them to make upfront payments for small or even large purchases, especially when it involves someone you trust. This platform is primarily designed for group buying with friends, mimicking the way friends handle financial transactions among themselves. Collab Wallet operates as if two users issue virtual credit cards to each other, consolidating their balances into one. Just like a credit card, users can extend credit limits to each other, allowing for negative balances, facilitating Reservations without upfront payment.
When a Reservation is allocated, the Collab Wallet is charged accordingly, and the outstanding balance is settled upon the completion of the Deal or at an agreed-upon time.
more on Collab Wallet
Other Notable Features
Tier Price: oSplit also supports tier pricing, where item prices are discounted based on achieving specific quantity thresholds.
more on Tier Price Rating: Once a Deal successfully concludes, both the organizer and participants have the opportunity to review each other.
Automatic ratings are assigned for actions such as canceling a Deal or Reservation, which may affect the Deal's tier even for unsuccessful Deals.
Vouching: Just like in real life, you can vouch for someone, and you can see who vouches for others, providing you with an indication of whether someone is trustworthy or not.
more on Reputation Chat: The chat functionality allows participants to engage in discussions, ask questions, and provide answers related to the Deal.
Deal's chat feature is accessible to Potential Participants and actual Participants, allowing private discussions. Once the Deal has concluded, the chat is accessible to actual Participants.
more on Chat Poll: You can create polls and vote on decisions concerning various aspects of the Deal.
more on Poll Distribution: For large group buys, oSplit assists in item distribution by providing services such as printing participant Reservation labels and using QR codes for item validation.
more on How to Distribute Deposit: For large purchases, you, as the organizer, have the option to request a partial payment upfront (deposit), with the remainder paid upon successful completion of the Deal.
more on Deposit
Tier Price: oSplit also supports tier pricing, where item prices are discounted based on achieving specific quantity thresholds.
more on Tier Price Rating: Once a Deal successfully concludes, both the organizer and participants have the opportunity to review each other.
Automatic ratings are assigned for actions such as canceling a Deal or Reservation, which may affect the Deal's tier even for unsuccessful Deals.
Vouching: Just like in real life, you can vouch for someone, and you can see who vouches for others, providing you with an indication of whether someone is trustworthy or not.
more on Reputation Chat: The chat functionality allows participants to engage in discussions, ask questions, and provide answers related to the Deal.
Deal's chat feature is accessible to Potential Participants and actual Participants, allowing private discussions. Once the Deal has concluded, the chat is accessible to actual Participants.
more on Chat Poll: You can create polls and vote on decisions concerning various aspects of the Deal.
more on Poll Distribution: For large group buys, oSplit assists in item distribution by providing services such as printing participant Reservation labels and using QR codes for item validation.
more on How to Distribute Deposit: For large purchases, you, as the organizer, have the option to request a partial payment upfront (deposit), with the remainder paid upon successful completion of the Deal.
more on Deposit
Platform's Fee
We strive to save you money in every aspect, including avoiding credit card fees and providing flexibility in item delivery. The same principle applies to our platform fees.
In many cases, the service is available free of charge. In scenarios where fees apply, you only pay 1% or less of the total value of Reservations that don't belong to you, the organizer.
Additionally, at the start of each month, users receive five vouchers that reduce the listing fee.
A generous credit limit is also provided, allowing organizers to avoid paying for every small transaction and instead settle the balance when it reaches a significant threshold.
more on Pricing
We strive to save you money in every aspect, including avoiding credit card fees and providing flexibility in item delivery. The same principle applies to our platform fees.
In many cases, the service is available free of charge. In scenarios where fees apply, you only pay 1% or less of the total value of Reservations that don't belong to you, the organizer.
Additionally, at the start of each month, users receive five vouchers that reduce the listing fee.
A generous credit limit is also provided, allowing organizers to avoid paying for every small transaction and instead settle the balance when it reaches a significant threshold.
more on Pricing
What won't oSplit do for you?.
Join Deal
Start a Deal Have more question?.
see FAQ
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ask in Forum
- Money Handling:
The platform does not hold or distribute funds. It solely keeps track of transactions, ensuring transparency and accountability. However, it does not manage the transfer of funds from participants to the organizer upon item receipt. - Item Delivery:
oSplit does not undertake the responsibility of delivering items. The organizer is solely responsible for ensuring that items are delivered to or picked up by the participants. The platform does not validate or guarantee the accuracy or receipt of items. - Payment Verification:
The platform does not verify payment methods, including bank transfers. It is the responsibility of the payee to verify and confirm the transaction details independently. - Organizer and Participant Screening:
oSplit does not screen organizers or participants. It does not perform background checks or verification processes regarding the trustworthiness or credibility of individuals using the platform. Users should exercise their own judgment and discretion when engaging in Deals with their friends.
Join Deal
Start a Deal Have more question?.
see FAQ
view other Resource Pages
ask in Forum