This New Venture Proposal is created by the N7 consultant group at the Imperial College Business School. It was very well received during the business pitch. Hopefully, this will spark ideas for other entrepreneurs.
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Petaway is a new social network that utilises a two-sided market strategy. Petaway allows pet owners to leave their pets with other members of the network while they are away on vacation. Members will be able to search for pet-friendly homes around their neighbourhood.
The underlying aim of Petaway is to provide an alternate offering to pet sitters and pet hotels, which can sometimes be very expensive.
The business model consists of 3 main revenue streams: advertising, selling of additional services, and premium subscription, where users can subscribe to see homes that are verified by Petaway, and to book them in advance. We forecast revenues to be £277K in Year 1.