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Bar status
- 1. Bar Status LOCALIZED TWITTER FOR NIGHTLIFE BROOKE CURTIS ZACKARY HARGETT CASSIE PEZZA JUSTIN PRYOR KAILYN MANGRUM LAINA WOMBLE barstatus
- 2. Agenda Summary Concept & Product Market Business Model Management Financials & Exit Risk Factors B
- 3. Summary Eliminate the hassle and complication of planning a night out Full understanding of target market Great understanding of product requirements and product definition Early Stages focusing on user acquisition to gain proof of concept Focus on hitting user targets: 3,500 in year 1 and scale to 150 regions in year 3 Plans to hire technical co-founder Outsource part of app development Current team will lead business development and client relationships $170,000 ask
- 4. Customer Pain … It’s a pain Concept & Product Market Business Model Management Financials & Exit Risk Factors
- 5. Solution One go-to app B Concept & Product Market Business Model Management Financials & Exit Risk Factors
- 6. Status Feed Friends Messages Bars & Venues My Plan Product Concept & Product Market Business Model Management Financials & Exit Risk Factors Five Main Tabs
- 7. Concept & Product Market Business Model Management Financials & Exit Risk Factors Tri Lu checked in to Rec Room $2 Fireball, $2 domestics Tri L. is at Back Bar Trivia night, half-off apps Jason Q. is at Fitzgerald’s No cover, half-off liquor drinks Helen J. is at Lambda Chi Champagne party Status Stream Status Feed Live stream of updates when friends check into bars Friend’s picture Current location Descriptor
- 8. Concept & Product Market Business Model Management Financials & Exit Risk Factors Tri L. Jason Q. Helen J. Sam J. Friends Friends List of all friends Favorites
- 9. Concept & Product Market Business Model Management Financials & Exit Risk Factors Tri L.’s plan for the night: Friend’s Plan He’s Not Here $5 Blue Cups, Traphouse Band Fitzgerald’s No cover, half-off liquor drinks Top of the Hill Trivia night, half-off apps Friends’ Plans
- 10. Concept & Product Market Business Model Management Financials & Exit Risk Factors Do you want to add Brittany Waddell as your friend? Do you want to add Sam Joiner as your friend? Add friends Add friends from contacts Accept/deny requests Invite others to join
- 11. Concept & Product Market Business Model Management Financials & Exit Risk Factors Messages Messages Single or group
- 12. Concept & Product Market Business Model Management Financials & Exit Risk Factors Rec Room $2 Fireball, $2 domestics Top of the Hill Trivia night, half-off apps Fitzgerald’s No cover, half-off liquor drinks Lambda Chi Champagne party Bars and Venues Bars & Venues List of bars & fraternities Most popular in descending order Name of venue Descriptor Have you put it in your plan?
- 13. Concept & Product Market Business Model Management Financials & Exit Risk Factors Rec Room $2 Fireball, $2 domestics Top of the Hill Trivia night, half-off apps 15 friends have Top of the Hill in their plan tonight Bar Profile Venue Profile Friend involvement Popularity heat map Night special – will be listed towards the bottom for each night of the week
- 14. Concept & Product Market Business Model Management Financials & Exit Risk Factors He’s Not Here $5 Blue Cups, Traphouse Band Fitzgerald’s No cover, half-off liquor drinks Top of the Hill Trivia night, half-off apps Lambda Chi Champagne party My Plan My Plan Add bars & fraternities to plan Rearrange in time order
- 15. Market Concept & Product Market Business Model Management Financials & Exit Risk Factors $140 million annual market Will the dogs eat the dog food?
- 16. Market Concept & Product Market Business Model Management Financials & Exit Risk Factors You base you bar/fraternity choices upon where other people/friends are going? Agree Disagree Neither agree nor disagree Agree Disagree Neither agree nor disagree You want to see how many people are at each bar at any given time? You would share your plan for a night out with other people(friends)? Agree Disagree Neither agree nor disagree
- 17. Market You would use the app to see what deals/specials are available at each bar? Agree DisagreeNeither agree nor disagree How likely are you to base your going out decisions upon nightly deals/specials? Very Likely Somewhat Likely Somewhat Unlikely Very Unlikely How many days ahead do you plan your night(s) out? The day of I day ahead 2 days ahead 3 or more days ahead Concept & Product Market Business Model Management Financials & Exit Risk Factors
- 18. Market Concept & Product Market Business Model Management Financials & Exit Risk Factors B Positioning Map Streamlined Cluttered Long Term Events Short Term Events
- 19. User Acquisition and Marketing Word of Mouth-peer recommendations Campus representatives Web Marketing Concept & Product Market Business Model Management Financials & Exit Risk Factors
- 20. Monetization Subscriptions from bars $.05 per month, per reachable user 3,500 users in region = $175/month Advertisements (taxis, late night food, etc.) $.01 per reachable user, per ad 3,500 users in region = $35/ad Concept & Product Market Business Model Management Financials & Exit Risk Factors B
- 21. Competitive Advantage Built for college students, by college students-niche market “Hidden Special” All encompassing single platform Concept & Product Market Business Model Management Financials & Exit Risk Factors
- 22. Management Meet your Bar Status team! Concept & Product Market Business Model Management Financials & Exit Risk Factors Zackary Hargett Finance & Product Justin Pryor Marketing Cassie Pezza Chief Executive Laina Womble Marketing Brooke Curtis Operations Kailyn Mangrum Information
- 23. Management Plans to hire two full-time employees – a “hacker and hustler” Plans to bring on advisors with extensive knowledge of the space Concept & Product Market Business Model Management Financials & Exit Risk Factors
- 24. Concept & Product Market Business Model Management Financials & Exit Risk Factors Year 1 Year 2 Year 3 Year 4 Year 5 $250,000 $500,000 $750,000 $1 million $2 million $3 million $4 million $5 million Revenues Costs Pro Forma Revenues and Costs Financials & Exit
- 25. Financials & Exit Market and opportunity 1. College market 1.7 million users $36 million annually 2. Young Professionals market 5.25 million users $104 million annually Total Market: $140 million Concept & Product Market Business Model Management Financials & Exit Risk Factors
- 26. Financials & Exit Investment Pre-money valuation: $1.7 million Valuation based on hitting user targets and achieving an exit of $20 million + Investment: $170,000 Post-money valuation: $1.87 million 9.09% stake Concept & Product Market Business Model Management Financials & Exit Risk Factors
- 27. Financials & Exit Exit and Return Exit comparables suggest $30 per-user range $28 per user assumption = $20.64 million exit at end of year 3 Yahoo!, Google, Facebook all have made dozens of acquisitions between $6 million and $19 billion in the last 18 months! 12x return Concept & Product Market Business Model Management Financials & Exit Risk Factors
- 28. Financials & Exit Key assumptions: 1. 3,500 average users per region in year 1 with 20% growth rate in following years 2. Rapid growth in region expansion between years 2 and 3 Aspirational but attainable Concept & Product Market Business Model Management Financials & Exit Risk Factors
- 29. Concept & Product Market Business Model Management Financials & Exit Risk Factors Risk Rating Risk Mitigation Strategy Bar Status will not reach 3,500 user target in year 1 Expansion to multiple regions and Young Professional market in following years App will not scale as expected in Year 3 (due to technical reasons or other) App is expected to be Cash- flow positive with 3,500 users in 5 regions in year 3 (among other assumptions) No viable exit after milestones are reached Strategic investments from Yelp, Yahoo!, Google, and other local-focused tech companies Probability Impact X X X Risk Factors
- 30. Questions? Zackary Hargett Justin Pryor Cassie Pezza Laina Womble Brooke Curtis Kailyn Mangrum
- 31. Appendix
- 32. Financials & Exit Assumptions
- 33. Financials & Exit P&L
- 34. Financials & Exit Market size and opportunity
- 35. Financials & Exit Assumptions
- 36. Financials & Exit Exit & Return
- 37. Financials & Exit Financials with 3,500 users in 5 regions
Editor's Notes
- Cassie
- Cassie
- Cassie
- Cassie
- Cassie
- Kailyn Integrated social platform for going out in Chapel Hill Status Feed View live stream of updates when friends check in to bars. Your friend’s picture is shown along with which bar they are at and a one line description of specials and events happening at that bar/fraternity. Friends List of all friends added. Click on friends picture to see their plan for the night. Friend requests – accept or deny request (like Snapchat) Add friends from contacts or invite friends to join (like Snapchat) Messages Single or group messages to make planning the night easy. Bars & Venues List of bars and fraternities. Click on friends to view that venue’s profile. Bar profile shows specials and events that night along with which friends have checked in and which friends have the bar in their plan. My Plan Allows user to plan night (viewable to friends). Simply swipe right on any bar (in previous tabs) to add to your plan. Hold and drag to organize bars in the order you plan on going to them (your “plan”)
- Kailyn
- Kailyn
- Kailyn
- Kailyn - Privacy big concern don’t have to worry about it, similar to snapchat (pick your friends)
- Kailyn Similar to GroupMe Catered to having a stress-free night
- Kailyn
- Kailyn
- Kailyn
- Justin Market worth annually (with assumptions)
- Justin Market size (with assumptions)
- Justin
- Justin Market size (with assumptions)
- Brooke
- Brooke We have two main revenue streams. The first of which is Bar Subscriptions $.05 per month, per user (set nickel down) With 3,500 users this translates to $175 per month. We feel this is a great deal for bars, considering if only 2% of the 3,500 users come in and buy a drink with a $3 margin, the investment is net positive.
- Laina Explain how there are no other companies completely within our target market Small competitors – DrankBank and HappyHoured aren’t in business anymore so we learned from their mistakes
- Laina Best model for us to succeed Young management team all enthusiastic about the company - All qualified business students with various specialties Cassie – CEO came up with idea and is very dedicated to see the idea come to life Zack – Finance worked with Angel investor doing valuations for their company Brooke – Operations worked for General Dynamics Information Tech as project management intern Justin & Laina – Marketing (very important for social app so promotion important) Justin works for PepsiCo in marketing department, Laina works for EV as marketing and sales manager for both Laundry and Gifts Kailyn – Information worked with Danish tech start up last summer in Copenhagen – IT experience No CTO outsource those capabilities Must hire hacker and hustler to work full time on the application - One technical person to get the application up and running and to maintain over time - One business oriented sales person who is able to talk to businesspeople and be the “Sauvé” partner - EX) Zuckerberg & Eduardo Saverin
- Laina What you’ll notice we don’t yet have is a team member with the technical know-how to build the app. That’s why we have plans to hire a hacker! “Hacker and hustler” is a duo highly successful in the tech startup world We must hire hacker and hustler to work full time on the application - One technical person to build the Minimum Viable Product, work with outside developers, and build later iterations of the app - One business-oriented sales person who is able to help talk to businesspeople and be the “Sauvé” partner - EX) Zuckerberg & Eduardo Saverin
- Zack
- Zack
- Zack
- Zack
- Zack