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MIT + D FINAL PITCH
- 1. Creative Founder | Fall 2019
- 2. 2 CEO CTO CFO CMO Ted Huang Dayeon Kim Mikayla Zhang Irene Wang Who Are We?
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- 9. 9 What Is Our Mission Statement? We are Weclub who are designing and providing a service for people who go out to drink. Our value is to help people minimize the effort of searching clubs and maximize the fun.
- 10. 10 This Is Our Story Week 1 Drunk driving Week 2 Week 3 Drunk driving Car locked Notification about alcohol level Drinking safety Week 4 Week 5 Week 6 App Integrated with a breathalyzer Communicate with each others Finding bars SNAPBAR Sharing location Sending notification Safe and fun & drinking experience
- 11. 11 This Is Our Story Week 4 Week 5 Week 6 Week 7 Week 8 App Integrated with a breathalyzer Communicate with each other Finding bars SNAPBAR Sharing location Sending notification Finding barsSharing location Sending notification 1 ving Week 2 Week 3 Drunk driving Car locked Notification about alcohol level Drinking safety Safe and fun & drinking experience Snapbar
- 12. 12 Why Did We Pivot? PEOPLE JUST WANT TO HAVE FUN WHEN THEY GO OUT!
- 13. 13 This Is Our Story Week 9 Week 10 Finding clubs Personalization Drinking tips Finding clubs Personalization Weclub Weclub Fun and efficient experience Fun and efficient experience
- 14. 14 Problem For people who go to clubs, it’s hard to find detailed information online since it changes weekly. 01
- 15. 15 Problem For people who go to clubs, it’s hard to find detailed information online since it changes weekly. Hard to match everyone’s preferences and tastes. 01 02
- 16. 16 Weclub helps people to find clubs more conveniently by providing detailed and updated information. Solution For people who go to clubs, it’s hard to find detailed information online since it changes weekly. 01 02 Hard to match everyone’s preferences and tastes. So what are the current solutions for people for find clubs? Problem
- 17. 17 Existing Solution - How Do People Find Clubs? Friend’s recommendation Instagram Google search 15 4 1 We did interview with 20 people. 15 of them are related on friend’s recommendation. So why does this interview matters to us? We thought most people would reply on google and other apps to find clubs, but in turns out the behavior is little bit of. Friend’s recommendation becomes a pattern. So we want our customers to invite their friends to download Weclub.
- 18. More accessible data Less accessible data More preference Less preference What Are Existing Apps? 18 Why people still looking for club by relying on their friends mostly? because There are no existing application for searching club We did a market study of the existing app that has any information about finding clubs and these studies
- 19. More accessible data Less accessible data More preference Less preference What Are Existing Apps? 19
- 20. More accessible data Less accessible data More preference Less preference What Is Our Opportunity? 20 Provides informational data and real-time stories from the clubs Personalization and user-friendly Finding out detailed information in just one click Opportunity There’s no club-searching app available in the current market. Personalization and user-friendly Provides real-time stories More detailed information
- 22. 22 1. Personalization Personalize your filters to find a club that satisfies everyone. How Does Weclub Work? Personalize clubber’s preferences like theme, music, and crowdedness of the club.
- 23. 23 How Does Weclub Work? 2. Finding Clubs Find out covers, special drinks, music, and more all at once! Here is some features that people like! Weclub helps clubbers to find out all the details about the clubs.
- 24. 24 3. In-app Notification Get a subtle pop-up about safer drinking knowledge after one task. How Does Weclub Work? We still hoping our clubbers to have a safe experience. After the flow, they will see the gentle notification popping up about drinking knowledge. Let’s see how big is our market?
- 25. Price Model 25 Clubbers Customers FREE $50 / month $0.50 ~ $2 / click monthly subscription advertising feeWe help them promoting business and events. Also clubs.
- 26. Who Are We Serving? 26 Clubbers 88 million 25%* 20% Adults(21-39) Population in US % People Who Go to Club Weclub Clubbers x x 4,400,000 Total Accessible Market TAM 25% People Who Goes to Club Young Adults(21-39) Population
- 27. Who Are We Serving? 27 Clubbers 88 million 25%* 20% Adults(21-39) Population in US % People Who Go to Club Weclub Clubbers x x 4,400,000 SAM 11 million 25%* 20% Adults(21-39) Population in CA % People Who Go to Club Weclub Clubbers x x 550,000 Total Accessible Market Serviceable Accessible Market TAM 25% People Who Goes to Club Young Adults(21-39) Population
- 28. Who Are We Serving? 28 Clubbers 88 million 25%* 20% Adults(21-39) Population in US % People Who Go to Club Weclub Clubbers x x 4,400,000 SAM 11 million 25%* 20% Adults(21-39) Population in CA % People Who Go to Club Weclub Clubbers x x 550,000 SOM 0.35 million 25%* 20% Adults(21-39) Population in San Francisco % People Who Go to Club Weclub Clubbers x x 17,500 Total Accessible Market Serviceable Accessible Market Serviceable Obtainable Market TAM 25% People Who Goes to Club Young Adults(21-39) Population
- 29. 2929 Where Are We Getting $? Customers TAM $ 1,000 35,000 20% Average Amount Company Pays for ADs/month* # of Clubs in US* Weclub Customer x x $7,000,000 29 Total Accessible Market *Average Amount Company Pays for ADs/month # of Clubs
- 30. Customers 3030 TAM $ 1,000 35,000 20% x x $7,000,000 SAM $ 1,000 1750 20% x x $350,000 30 Total Accessible Market Serviceable Accessible Market Average Amount Company Pays for ADs/month Average Amount Company Pays for ADs/month # of Clubs in US Weclub Customer Weclub Customer # of Clubs in CA *Average Amount Company Pays for ADs/month # of Clubs Where Are We Getting $?
- 31. Customers 3131 TAM $ 1,000 35,000 20% x x $7,000,000 SAM $ 1,000 1750 20% x x $350,000 SOM $ 1,000 335 20% x x $67,000 31 Total Accessible Market Serviceable Accessible Market Serviceable Obtainable Market Average Amount Company Pays for ADs/month Average Amount Company Pays for ADs/month Average Amount Company Pays for ADs/month # of Clubs in US Weclub Customer Weclub Customer Weclub Customer # of Clubs in CA # of Clubs in San Francisco *Average Amount Company Pays for ADs/month # of Clubs Where Are We Getting $?
- 32. , How Are We Getting Revenue? 32* Calculate by SOM 335 x 20% = 67 $50/per month Monthly set up fee Advertising income San Francisco clubs Weclub Customer CPC: calculate per click CPM: calculate per mille CPM 350,000 x 3.4% = 11,900 67 x $481 x 12 = $ 386,724 / year Revenue CPC Adults Population in SF Click Rate Clicks 11 x $2.80 + 900 x $0.50 = $ 481/per month CPM Price CPC Price +
- 33. Cost Structure 33 Product Cost Structure App Building: $30,000/ year Service Cost Structure Product Line Cost Structure Corporate Taxes and Fees: $1,051 Business Insurance : $1,200/ year Customer Cost Structure Customer Service: $10,000/ year Founders: $320,000/ year Total Cost: $ 362,251/year
- 34. Who Much Will We Make? 34 Revenue Cost _ = Profit Product Cost Structure Service Cost Structure Product Line Cost Structure Customer Cost Structure Advertisement fee $ 386,724 $ 362,251 $ 24,473/year
- 35. What Have We Done? User research 48 Interviews Product Development 4 Business Concepts 5 MVP iterations On-site Investigation 3 Locations Castro district Mission district SFSU library Validated MVP Customer Acquisition 8 User testing 91 Visitors 16 Subscribers 12 Visitors 4 Subscribers （User） （Business） 3 Questionnaire 35 Discovery Validation became stronger through numbers of ations and interviews. Going through the cle from discovery and validation r user research and on-site investigation lly provided a lot of of insights about ople’s need, so we iterated and iterated minimal viable products to validate sumptions and also learn about the bber’s behaviors on their night out.
- 36. What Are Our Future Goals? Now Safety Feature Validation Acquisition 3 Months Customer Acquisition Develop Product 6 Months Partnerships Scale market size (from 29~) 36
- 37. 37 How Are We Getting Traction? 103 Visitors 20 Subscribers
- 38. $ 400,000 for the next 6 months 38 We Are Seeking For… To reach out to first 100 Weclub Clubbers To build customer relationships with Weclub Earliest version of the app and get more feedback to keep refining our apps 100 we club clubbers to connect/ suggest their friends Appeal the need our app to advertise
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- 41. 41 Appendix
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- 45. 45 WANT TO PROMOTE YOUR BUSINESS? Bars/Clubs/Events What is our product? An app for searching bars/clubs and more that helps you to promote your business easier! SCAN HERE TO SIGN UP TODAY! (Open your camera and hold it in front of this code to scan) Looking for an app that tells you about the MUSICS, HAPPY HOURS, COVER, and locations of CLUBS, BARS and PARTIES? Scan the QR code to download!
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- 57. 57 Clubbers
- 58. 58 Customers
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- 68. 68 We asked participants to share their location with us for the entire night According to their location’s update. We Sent notification to users during their entire drinking process.