The low-yield, high-return concept which has proved so successful with low cost airline easyJet has been applied by entrepreneur Stelios Haji-Ioannou to his latest venture.
Realising the potential of the technology-based Internet cafe society, Haji-Ioannou has set up his own chain of shops called easyEverything, which allow access to on-line shopping and general electronic information.
The first store opened this week opposite London’s Victoria Station. With 400 computer terminals, the shop is the world’s largest Internet cafe and offers customers cheap and easy Internet access.
Financial controller George Brown told Accountancy Age that easyEverything was planning to have 2,000 terminals running in London by the end of the summer.
The huge economies of scale derived from the sheer size of the outlets and volume of customers means access will be priced as low as £1 an hour, undercutting the local call rate paid by home users.
Brown said the other advantage the shops offered was the fastest Internet connection available which is many times quicker than home users could experience.
‘We’re not only faster than the home, we’re cheaper than the home,’ Haji-Ioannou said.
‘I’ve learned from the airline that everyone loves a bargain and the Internet can provide massive savings on the overpriced British high street. The rip-off merchants are in for a big shock.’
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