Help w/email-related list business idea, pls

Okay, hubby wants to retire, we've been talking about a business idea but wondered if anyone is doing something similar OR if anyone knows where/how we can find more info on this concept.

Basically, the idea is to start a local email distribution list that has lunch specials from local restaurants. Restaurant owners would pay to advertise but it would be free for people to join the list.

It seems to have lots of advantages - lots of business people, in particular, go out to lunch and look for specials or new places to try. Restaurants offer weekly or daily specials to entice customers IN, but lots of people don't know about those specials. Would think this could be a cost-effective way for restaurant people to advertise. Could grow into multiple lists, too (Mexican-food only, downtown only, weekend list, et cetera.)

Our biggest puzzle right now is which comes first, the advertisers or the list? No restaurant owner is gonna wanna pay until there are enough list owners to promote to (what's enough? 500? 1000?) but no one will want to join the list until they know what restaurants they'll get specials from.

Any ideas? Problems you see?

I have multiple websites of my own and think it would be easy to set up a site/autoresponder for this - and hubby thinks it sounds fun to go around talking to restaurant owners!

Thanks a bunch!

Diana
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