Parktxt Presentation


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PARKTxT - An exciting new business venture based in Queens University Belfast.

©PARKTxT 2010

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  • We gave carried out extensive research into what methods of advertising reach people in Northern Ireland.And with this in mind we then made choices as to what methods we be most effective with the marketing budget we have available.
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  • The Princes Trust Loan is repayable at a cumulative interest rate of 3% and is 75% guaranteed by the European Investment Fund, a body of the European Union:The Enterprise Guarantee Scheme allows new businesses to borrow with the government providing 75% security on the loan amount. As Bank of Ireland participate in this, we expect to raise in excess of £80,000 via this scheme.We have met with QUBIS and they are prepared to discuss an investment pending demonstration of a successful prototype.We are in discussions with Sam Marshall of the Princes Trust in Northern Ireland regarding a small business start-up loan of £4,000. The indications are that our application will be successful. We have met with, and have positive early vibes from Alan Watts, director of the Halo scheme. We hope to be selected to present our business idea to a group of business angels within the next eight weeks.
  • O HanlonWe gave carried out extensive research into what methods of advertising reach people in Northern Ireland.And with this in mind we then made choices as to what methods we be most effective with the marketing budget we have available.
  • We gave carried out extensive research into what methods of advertising reach people in Northern Ireland.And with this in mind we then made choices as to what methods we be most effective with the marketing budget we have available.
  • We gave carried out extensive research into what methods of advertising reach people in Northern Ireland.And with this in mind we then made choices as to what methods we be most effective with the marketing budget we have available.
  • We aim to launch the product in April 2010, with this in mind we want to:Allocate 15% as we see marketing and sales as a massive component of our product. We need to get our name out their.
  • Parktxt Presentation

    1. 1.
    2. 2. Director Team<br />Aidan Clarke<br />Seán O’ Hanlon<br />Seán Trainor<br />Jamie Miller<br />Patrick Larkin<br />Darren Trainor<br />
    3. 3. Who are we?<br /><ul><li> 6 members
    4. 4. Queen’s University Belfast
    5. 5. BSc Business Information Technology
    6. 6. Y.O.P.E. - Sandwich Course</li></li></ul><li>What is Parktxt?<br />
    7. 7. Description<br />PARKTxT provides a text service that will allow car park customers to check:<br />How much they have currently spent.<br />How long they have currently spent in the car park.<br />How long until their next tariff kicks in.<br />Retailers in the locality will also be able to provide up-to-date, targeted marketing to PARKTxT customers while taking advantage of valuable data mining.<br />Mission Statement<br />“Our mission at PARKTxT is as unique as it is simple; we want to provide a text service to customers to ensure they are aware of excessive car parking charges, whilst giving them the opportunity to save some money. We will not turn into a premium text service, attempting to take advantage of our customers; instead we will provide clear information at a sensible price, always remaining within the control of our customers.”<br />
    8. 8. The Problem<br />Park in a car park<br />+<br />Go shopping<br />+<br />Eating<br />+<br />Cinema<br />=<br />How Long in minutes??.. <br />& Car Park Fees?? ..<br />
    9. 9. How does the service work?<br />
    10. 10. Step 1<br />Customer collects ticket from machine<br />
    11. 11. Step 2<br />Customer Texts PARKTxT<br /> 87275 = 8PARK<br />
    12. 12. Step 3<br />PARKTxT Confirmation Text<br />
    13. 13. Step 4<br />Hourly update message sent to customer<br />
    14. 14. Marketing Strategy<br /> We intend to allocate 25% of our predicted year one revenue to marketing and sales which is a distinct increase on the industry average of 5%<br />We have decided to advertise through the following methods based on our research :<br /> 48 Sheets (Billboards)<br /> Local Press – Belfast Telegraph, Irish News, Industry magazines etc.<br /> Local Radio – Citybeat, Cool FM, U105<br /> Adshels<br /> Bus Externals<br />You may have seen some of our advertising already in:<br /> The Gown Magazine<br /> SU Magazine<br /> Ulster Business<br /> South Belfast News<br />
    15. 15. Benefits - Customer<br /> You will be alerted 15 minutes before every milestone, hence allowing you to return to your car and exit the car park before being caught unnecessarily by the next tariff.<br />Stay for 59 minutes = £2.70<br />Stay for 1 Hour 1minutes = £5.30<br />Figures from NCP – Montgomery Street Belfast<br />
    16. 16. Benefits - Customer<br /> You will know exactly how much you pay at the pay point machine<br /> i.e. you will have enough change<br />
    17. 17. Benefits - Customer<br /> You will receive special offers from local businesses tailored to your interests<br />
    18. 18. Register Online<br /> Return customers can register online and choose what shops interest you.<br />From this information we can then break down demographics of our users and then send them specific advertising messages.<br />Q) What type of outlets do you wish to receive updates on? <br />Cafes / Restaurants<br />Children’s Wear<br />Electrical, Music & Mobile Phones<br />Fashion - General <br />Food Stores<br />Footwear<br />Gifts, Cards, Stationery & Books<br />Health & Beauty<br />Jewellery <br />Sport<br />
    19. 19. Benefits – Car Park<br /> Increased turnover over of spaces. Most money is made in the earlier tariffs.<br /> Advertising via text message may result in customer staying longer within the car park as they may wish to avail of a sale or discount within a local store.<br />
    20. 20. Benefits – Car Park<br />Customer goodwill initiative – increased business due to offering customers access to new innovative technology<br />“Anything new or innovative in the car-park industry attracts extra custom.”<br />Jim Neeson CEO, CITYPARK <br />Data Mining <br />Car Park providers will be able to build a profile on their customers. At present car park owners don’t know who there customers are or why they choose to use certain car-parks in preference of others.<br />
    21. 21. Technical Details<br />What is needed to build the system?<br /> Visual Programming language <br /> Back end database server <br /> GSM Modem for sending and receiving text messages<br />Database server<br />Microsoft SQL server<br />My SQL<br />Microsoft Access <br />Visual Programming<br />Microsoft Visual Studio 2005<br />Java<br />GSM Modem<br />Mobile phone handset that supports AT commands<br />Multi-Tech Multi Modem<br />
    22. 22. Competitor 1<br />“Rusty Brick” iPhone Parking Meter<br />iPhone App that displays how long the user has to top up their parking meter, alerted via sms or e-mail.<br /> Essentially a “glorified” countdown timer.<br /> iPhone exclusive<br /> 96.8 Billion text messages sent in the UK last year - Huge market potential<br />
    23. 23. Competitor 2<br />“Easy Trip” Tag<br /> Customer sets up an account with Easytrip<br /> Easytrip “tag” is installed on the windscreen<br /> Integrates all parking, toll and security charges into one account, deducted automatically via electronic means.<br /> Credit or debit card required to set up an account.<br /> Minimum charge of €36 to make use of the service.<br />
    24. 24. Competitor 3<br />NCP “Gateway” Service<br />Allows customers to text and find the nearest car-parks and generate reports on car-park expenditure<br />Aimed at most companies, local authorities and government bodies<br />Integrates services rather than saving money – Turnover of Spaces<br /> Does not support traditional methods of payment<br /> Currently only available in 90 NCP Car-Parks<br />
    25. 25. Competitive Matrix<br />
    26. 26. Legal – Formation & IP<br />Company Formation<br /> PARKTxT will be formed as a Ltd Company<br /> Legal entity separate from the owners<br /> Limited Liability<br />Copyright<br /> Automatic right protecting all original work<br /> Database Structure<br /> Software Code<br />Trademarks<br /> Distinguishable name and logo<br /> PARKTxT is currently available via Trademark Search UK<br /> Domain Names secured.<br />
    27. 27. Legal - Legislation<br /> Data Protection Act 1998<br /> Health and Safety<br /> Insurance<br /> Open Source Code<br /> Text Fraud / Implications<br />
    28. 28. External Finance<br />There are a number of investment opportunities for new businesses in Northern Ireland. We intend to fund the start-up of PARKTxT by:<br /> Personal investment of £2,000 from each of the six directors.<br /> A further £1,300 from each director’s assorted friends and families, therefore presenting approximately £20,000 of initial monies.<br /> Overdraft and loan borrowing up to £30,000 for new businesses<br /> Fee free Visa business credit card for one year<br />We chose Bank of Ireland as they offer associations with organisations such as <br /> Peninsula<br /> Big Red Book<br /> Agnew Corporate<br />Chooboo<br /> BT<br />
    29. 29. Funding Partners<br />
    30. 30. Finance<br /> PARKTxT operates by generating revenue in a relatively unique way.<br /> As such, no suitable companies to compare with.<br /> Sales forecast therefore based on a series of conservative estimates taken from our market research.<br />
    31. 31. Calculating Sales<br /> PARKTxT will launch at two sites, with 596, and 472 spaces – a total of around 1000 spaces.<br />From our preliminary research:<br /> These spaces are used on average 45 times a Week, with the average customer staying for 3 chargeable hours.<br /> This gives a total of 45000 space uses per week.<br /> One usage equates to 3 Texts, or 45p revenue for PARKTxT.<br /> Car Park Operators, taking into consideration peak periods, and users paying a set lease per month, estimate a 40% occupancy percentage on average.<br /> Based on survey results, PARKTxT conservatively predicts a 20% service usage during Year One.<br />
    32. 32. Predicted Growth (3 Year Forecast)<br />
    33. 33. The Future<br />
    34. 34. Future Products<br />i-PARKTxT<br /> Park in your pocket<br />Malcolm Barclay – London Underground ‘Tube Deluxe’<br /> Number of Car Parks per city<br /> Closest / Cheapest Car Park<br /> Number of spaces available<br /> Congestion charges<br />ParkSafe <br /> Link with PSNI to alert for stolen car registration<br /> Link to PSNI to alert for a fake registration plate<br />
    35. 35. The Future ?<br />
    36. 36. The Future ?<br />
    37. 37. Product Launch<br />Product Launch - Belfast May 2010<br /> Our main customers are NCP, Q Park, Castle Court (Westfield) and City Parks who will employ our system.<br /> We have had talks with all these companies and they are extremely keen to use our product.<br />
    38. 38. Route to Market<br /> Partnership<br />APS - Advanced Parking Solution<br />Intertraffic 3-Day Conference in Holland<br />23rd - 26th March 2010<br />Meeting with the Head of Skidata Europe<br />Direct Investment<br />Mr Denis Murphy <br />Chairman & CEO at Anaeko<br />Sold Apion (Openwave) in 1999 for $250 million<br />Interested in launching our product across Anaeko’s multi-operator service in Canada<br />
    39. 39. Follow Us<br />Website:<br />E-mail:<br /><br /><br /><br />Social Networking:<br />Direct:<br />07913239433<br />
    40. 40. Thank you<br />