1. ThirdSpace
(previously JavaSeat…and Table Reservations)
10 Coffee Shop
Managers
3 Coffee Shop
Owners
40 Consumers
Team 11
Ashleigh Ranney
Kamal Grey
Scott Malish
Jeff Golde
2. What we thought on Day 1
Hypothesis
Solution
Consumers are frustrated with
uncertainty/inability in securing a seat/table
within coffee shops when in need
Website/mobile app that allows consumers
to reserve seats within coffee shops in
advance.
Coffee shops would be interested in
solutions that can better monetize
“squatters”
Share revenue from reservation system
with coffee shop.
3. Key Partners
*Coffee Shops
*Coffee drinker (shop
customers)
*Businesses
*Yelp (location of shops,
built in feedback to help
populate our product)
Key Activities
Value Propositions
Customer Relationships
Customer Segments
*Two-sided customer
acquisition (coffee shops
and consumers)
*Feedback loop
*Channel management
*Segment expertise
*Marketing (branding, PR)
Coffee shop:
*Better monetization of
utilized capacity
*Better monetization of
excess capacity
*Exposure/discovery
*Direct access/connection to
consumer
*Relationship manager
(coffee shops)
*Word of mouth
*Web/app discovery
*In-store promotion
Coffee shops:
*Coffee + Food
*Coffee only
Consumer:
*Guaranteed seating
*Time-savings (reduced wait
times in line, no searching
multiple shops for seating)
*Easy payment (especially
for business meetings)
Channels
Key Resources
*Human (design,
technology, customer
acquisition expertise)
*Business relationships
*Financing
Cost Structure
Variable:
*SG&A
*Web hosting
*Mobile app development
Fixed:
*Initial site/app development
Primary:
*Mobile application
*Online/web
Secondary:
*Industry coffee Magazines that
shops might read
*Social media
*Universities
*Coffee shops
Consumers
*Coffee aficionados
*Casual coffee drinkers
*Students
*Freelancers
*Full-time professionals
Pain Point Summary:
Wasted Time, Lack of
Seating at Best Shops
Revenue Streams
*Subscription (consumer and/or coffee shops)
*Rev share (% of transaction volume)
*Order and/or reservation fees
*Advertising
*White label/managed service
*Small fee from coffee shop if customer makes a reservation (5-10 min find
an open seat model)
4. What we learned on Day 2
Hypothesis
Reality
Consumers are frustrated with
uncertainty/inability in securing a seat/table
within coffee shops when in need
Unknown
Coffee shops would be interested in
solutions that can better monetize
“squatters”
Coffee shops generate the lion’s share of
their profit from to-go/walk-in only, so do
not worry about revenue opportunity cost
from squatters.
5. Day 2 Pivot
Consumer-to-consumer bid system for tables in coffee shops
Hypothesis
Solution
Consumers are frustrated with
uncertainty/inability in securing a seat/table
within coffee shops when in need.
Create a marketplace for
transacting/securing coffee shop
tables/seats in real-time.
Consumers are willing to pay for ability to
get a seat on demand.
Bid-system will determine market value of
the seat based on the specific
circumstances.
Consumers are willing to pay other
consumers for their seat.
Bid-system will be consumer-to-consumer.
6. Key Partners
*Coffee Shops
*Coffee drinker (shop
customers)
*Businesses
*Social media apps (Yelp,
Foursquare, Twitter, FB,
etc.)
Key Activities
*Two-sided customer
acquisition (coffee shops
and consumers)
*Feedback loop
*Channel management
*Segment expertise
*Marketing (branding, PR)
*Customer acquisition
Key Resources
*Human (design,
technology, customer
acquisition expertise)
*Business relationships
*Financing
Cost Structure
Variable:
*SG&A
*Web hosting
*Mobile app development
Fixed:
*Initial site/app development
Value Propositions
Customer Relationships
Customer Segments
Consumer:
*Guaranteed seating
*Time-savings
*Easy payment
*New source of easy $$
Get: In store promotion, app store
SEO, social media, partnerships
with Yelp and Foursquare
Coffee Shop app
Coffee shop:
*Better monetization of
utilized capacity
*Better monetization of
excess capacity
*Exposure/discovery
*Direct access/connection to
consumer
Grow: Coffee Shop finder/profiler
app
Consumers:
*Socializer
*Coffee aficionados
*Casual coffee drinkers
*Students
*Freelancers
*Full-time professionals
Keep: Loyalty program,
Channels
Primary:
*Mobile application
*Online/web
Secondary:
*Industry coffee Magazines that
shops might read
*Social media
*Universities
*Coffee shops
Coffee shops:
*Coffee + Food
*Coffee only
Pain Point Summary:
Wasted Time, Lack of
Seating at Best Shops
Revenue Streams
*Subscription (consumer and/or coffee shops)
*Rev share (% of transaction volume)
*Order and/or reservation fees
*Advertising
*White label/managed service
*Small fee from coffee shop if customer makes a reservation (5-10 min find
an open seat model)
7. What we learned on Day 3
Hypothesis
Reality
Consumers are frustrated with
uncertainty/inability in securing a seat/table
within coffee shops when in need.
Problem was not as significant as originally
thought (primarily weekends and small,
popular shops).
Consumers are willing to pay for ability to
get a seat on demand.
Not universal. WTP lower than expected
(<$5.00).
Consumers are willing to pay other
consumers for their seat.
Cultural barriers to concept of paying
someone for their seat.
8. What we discovered
Gain Creators
*Ability to reserve seats online/via mobile app
*Super fast WIFI and outlets at every seat
*Sound-proof phone booths
*Express line for shorter waits for coffee to-go
*”JavaSeat profiles” and table reservations
places you next to people of similar
interests/backgrounds
*Artisanal coffee
shop/co-working
space hybrid
*Membership
Pain Relievers
subscription for key
*Table reservations
features
*Guaranteed outlet and fast WIFI
*Beautiful design that promotes
productivity
*Unlimited work time without need to
buy any coffee/food
Gains
*Peace of mind for of available seating
*Access to fast WIFI and outlets
*More time for work/meeting
*Able to take calls if needed
*Sense of community; networking/meeting
people of interest (social, professional)
*Work for extended
periods of time
*Be productive (not
waste time)
Pains
*Enjoy great coffee
*Uncertainty on seating
availability
*Uncertainty on productive,
conducive workspace
*Limited outlets, spotty or no
WIFI
*Guilt of “squatting” at table
without paying for more goods
9. Key Partners
Key Activities
*Coffee Shops
*Coffee drinker (shop
customers)
*Social media apps (Yelp,
Foursquare, Twitter, FB,
etc.)
*Feedback loop
*Channel management
*Segment expertise
*Marketing (branding, PR)
*Customer acquisition
*Human (design,
technology, customer
acquisition expertise)
*Business relationships
*Financing
Variable:
*SG&A
*Web hosting
*Mobile app development
Fixed:
*Initial site/app development
Customer Relationships
Customer Segments
Consumer:
*Guaranteed seating
*Time-savings
*New source of easy $$
Get: In store promotion, app store
SEO, social media, partnerships
with Yelp and Foursquare
Coffee Shop app
Consumers:
*Office-less professional
*Coffee shop “regulars”
*Busy-bees
*Socialites
Keep: Loyalty program
Grow: Coffee Shop finder/profiler
app
Key Resources
Cost Structure
Value Propositions
Channels
Primary:
*Mobile application
*Online/web
Revenue Streams
*Rev share (% of transaction volume)
10. Day 4 Pivot
Create a brick and mortar shop that addresses the office-less
professionals’ need for coffee shop ambiance with workspace amenities
Hypothesis
Solution
Coffee shops do not truly fill the needs of
office-less professionals
Office-less professionals can purchase a
membership that entitles them to unlimited
wi-fi, coffee/snacks, soundproof phone
booths
Ambience, decor and community are highly
desirable factors in choosing a remote
workspace
Keep the to-go customers, create a space
for non-members so that coffee shop feel is
retained, but work space is amplified
11. ThirdSpace
Coffee shops beautifully designed to keep you
inspired, creative, and most of all productive
ThirdSpace is where your local coffee shop meets the shared
workplace.
ThirdSpace wants people to feel welcome to just pop-in or,
better yet, stay the entire day. It’s a new coffee shop
specifically tailored to people seeking an efficient “third
space” to host a meeting, to get work done, to surf the web,
to meet new people, or to just get outside of the
home/office.
ThirdSpace does not reinvent the local coffee shop. It represents the beloved coffee shop culture to keep it fresh
and energized, human yet relevant.
12. ThirdSpace
...the NEW Coffee Shop
“I’M AM OFFICE-LESS WORKER AND WANT TO BE HERE “I AM JUST A WALK-IN, CAN I STILL COME IN??”
ALL THE TIME, ARE THERE ANY PERKS FOR ME?”
YES! Join the ThirdSpace community and become a
member! As a member, you will get:
YES! OF COURSE! We have top-quality coffee and some
of the best artisanal pastries in addition to:
-Seat Reservations made online on our mobile app
-Standard to-go coffee
-Super (and we mean SUPER) fast WIFI
-First-come, First-serve (limited) seating
-Access to the Express to-go line
-Limited WIFI
-Ability to pre-order your coffee/food on our app
-Limited Outlets
-ThirdSpace community
-Sound-proof phone booths to make your phone call
in private (and for those whose conversations you don’t -Beautifully designed spaces
want to hear!)
-Create a ThirdSpace user profile
-Locker Storage
-Unlimited artisanal coffee
13. Key Partners
*Co-working spaces
*Remote workers
*Freelancer union
*Baristas
Key Activities
Value Propositions
Customer Relationships
Customer Segments
*Store design
*Web/mobile app
development
*Commercial real estate
*Making coffee
*Third space specifically
designed to be conducive to
extended work
*Guaranteed seating
*Time-savings
*Community/connection
Get: invite-only membership “beta”,
co-working space partnerships,
professional events (art shows,
start-up launches, etc.)
Consumers:
*Office-less professional
Key Resources
*Real estate locations
*Human (baristas)
*Capital (store footprint,
equipment)
*Architect/Designer
*Operations specialist
Cost Structure
Variable:
*SG&A
*Rent
Fixed:
*Store design and equipment
Keep: More store openings (more
ubiquitous presence)
Grow: more “premium” offerings to
increase membership fees
Channels
*Physical Store
*Website/mobile app (seat
reservations, advanced ordering)
Revenue Streams
*Membership
*Per-per-use
*Direct in-store sales
14. ThirdSpace...Individual Store Economics
Operating leverage created through
memberships and/or pay-per-use
Improved monetization of store
capacity can yield up to 2x gross
revenue in same footprint as
standard coffee shop
16. ThirdSpace...Has Customers!!
“Yea i'll try it out for a few months. Beats paying so
much money for the Columbia club :)”
“I am in, guys. Great idea!”
“Is there one on the Upper West Side? If so, I’m there.”
“Really looking forward to your UWS opening”
17. ThirdSpace..where we are headed!
Continue to explore the Thirdspace MVP beyond CBS networks
Further customer discovery:
- Coffee shops with excess capacity to test ThirdSpace concept
- Additional Customer Segments: Freelancers, independent contractors, students
- Consultant Companies: corporate memberships
Develop cost structure:
- Real Estate cost research
-SG&A
