Thus, we have proved an consumer interest and willing to pay!!!
Pop up party_presentation final - Lean Startup Machine NYC
Lean Startup Machine NYC April 4, 2011 Molly Siems Justin Samra Rosemary Morretta Michell Cardona David Newell Manuel Pineyro
PROBLEM <ul><li>Urban socials in their 20’s and 30’s live in cramped apartments and are not able to throw dinner parties for more than 3 or 4 people. </li></ul><ul><li>Space in apartments and commercial buildings is underutilized. </li></ul>
ASSUMPTIONS Assumptions PARTIERS Invalidated/Validated? Lessons Learned Notes 1. Urban socials want to throw dinner parties in private spaces. Validated Positive interview feedback; landing page hits; Craigslist responses; Airbnb NY and DC so far 2. Urban socials will pay to throw dinner parties in private spaces. Validated “ “ 3. Urban socials want to throw dinner parties in other peoples’ apartments. Semi- Validated (TBD) “ “ We tested for this on the landing page by listing commercial and residential spaces
4. Landlords and Condo Boards want to make extra money by renting unused units for the evening. Invalidated; PIVOT B to B is not the right channel Many buildings in New York are co-ops and they have strict rules against partying 5. Apartment owners/renters want to make extra money by renting their spaces for the evening. Validated Airbnb responses; friend responses 6. Apartment owners/renters are tolerant of the risks associated with strangers throwing dinner parties in their apartments. Semi-validated Airbnb responses; friend responses; documented reservations We will need to test this hypothesis further with security deposits and releases from partiers
CUSTOMER FEEDBACK CustDev End Results Venue Hosts Party Seekers Average Price Range $80 – 800 per night $10/person $100 – 500 per night Surveyed 20 in person 500 automatic 58 in person individuals 123 automatic Responded 10 in person 3 automatic 24 responded in person 12 responded automatic Conversions In current talks with 10 currently 9 people in total responded
THE PROOF IS IN THE PUDDING <ul><li>Mr. L.C. @ $100/night </li></ul><ul><li>Mr. K.Y. @ $350/night </li></ul>Ms. E.Y. @ $800/night *Listed on Airbnb @ $200
MVP <ul><li>MVP 1: Landing page that collects customer information and proves demand </li></ul><ul><li>MVP 2: Deal brokerage between partiers and venue hosts </li></ul><ul><li>FUTURE MVP 3: Basic site that performs brokerage function electronically </li></ul>
PAIN SOLUTION <ul><li>PARTIERS: Pop Up Party provides residential and commercial spaces in which urban socials can throw dinner parties </li></ul><ul><ul><li># of people: 8 -16 </li></ul></ul><ul><ul><li>spaces pre-screened for space, ambience, appropriate furniture </li></ul></ul><ul><ul><ul><li>Note: we may bring in folding tables to solve furniture problem </li></ul></ul></ul><ul><li>VENUE HOSTS: Pop Up Party provides a safe platform through which apartment owners can rent out their space for an evening for extra cash </li></ul><ul><ul><li>Leads are from Airbnb and word of mouth </li></ul></ul>
FUTURE TESTING AND ITERATING <ul><li>Further assumptions to test: </li></ul><ul><ul><li>Partiers will pay a security deposit (test different $ amounts) </li></ul></ul><ul><ul><li>Venue hosts will be given adequate reassurance about potential damages through a security deposit </li></ul></ul><ul><ul><ul><li>*If not, PIVOT and test whether partiers will sign a blanket damage release and whether this will give venue hosts adequate reassurance </li></ul></ul></ul><ul><li>Adding layered options (chef, DJ, etc) will increase partier conversion </li></ul>
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