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Barc0de - Pitch
1. Barc0de -Mobile Payment Processing Application
Challenge: Demand during peak hours cannot be satisfied by bars. Due to high transaction times
associated with cash transactions (4+ minutes on average) lines for service become too long for Bar-goers
to have more than 3 transactions a night.
Solution: Barc0de is a smartphone application for the iOS (Apple) and Android Platforms, which enables
users to pay for goods (drinks) without the use of cash. Money is instantly transferred directly from the
users’ account to the bar owner’s.
How It Works (3 Steps):
1. The user makes an order
2. The bartender inputs the order through an iPad which uploads the total cost to a scanner
3. The bartender scans the user’s unique barcode and the revenue is instantly transferred to the bar
owner’s account.
The bar owner can access the Barc0de website where every transaction will be recorded (Date, Time, Price
etc.) in a secured personal account.
Exhibit – 1 Application Wireframes
Additional Weekly/Monthly Revenue for the Bar-Owners
Low Scenario (33% efficiency) High Scenario (100% efficiency)
20% Adoption $575/weekly - $2300/month $2540/weekly - $10160/month
60% Adoption $1575/weekly - $6300/month $7920/weekly - $31680/month
Exhibit – Pro Forma Statement
Revenue Increase due to Barc0de:
The revenue increase from a Barc0de purchases is directly related to user adoption. Through strategic
partnerships with promotion companies and marketing firms, Barc0de expects 60%+ adoption by
December 2014 in London, Ontario.
2. How much it costs:
The application has two fees:
1. PayPal’s fee which is 5% to 5 cents per transaction.*
2. Barc0de’ fee is based on a negotiated % of sales made through the application for the length of a
contract term.
The fee is paid at the end of the month by the bar-owner to Barc0de.
* Given high volume of transactions and the small price tag of a drink PayPal’s Micropayment fee is the
best in the market. However BarPass highest priority is to reduce the cost per transaction in the coming
months.
Investment for Bar Owners:
This opportunity presents negligible risk to the owner. Barc0de is fully responsible for the entire
development of the application and marketing expenses. The investment required from the bar owner is
negligible based on the expected return on investment. Initial set -up only requires:
● iPad ($300)
● Bluetooth scanner ($300)
Total Investment is approximately $1,600. This investment will breakeven 3 weeks into the Low
Scenario.
Barc0de will source the equipment through a low-cost provider and sell them to the bar owner at cost. If
the bar owner can recommend a lower-cost provider, the owner can purchase the equipment from that
provider.
Purchasing additional equipment to meet demand is recommended but is at the discretion of the bar
owner.
3. Benefits for Bar Owner:
1. Increased service speed:
a. Increased consumer satisfaction (competitive industry advantage)
b. Decreased employee workload, thus increasing employee satisfaction
c. Increased turnover
d. Maximize potential revenue gains
2. Increased tip earnings for servers and bartenders
a. Built-In tip function allows consumers to make easy tip payments
b. Increased tip earnings increase employee satisfaction and thus retention rate
3. Analytics to support better, more informed, business decisions
a. Time per transaction
b. Peak demand times
c. Facebook users’ likes and interests (December)
d. Graphs showing: (December)
i. Total sales fluctuations throughout the day/week/month/year
ii. Sales fluctuations for specific beverages
4. Substantially reduce human error
5. Substantially reduce theft of cash
6. Easy POS reconciliation
7. Promotes increased purchase volume by the consumer (Psychological)
a. The ease, speed, and reduced wait times the app provides greatly reduces the consumers’
hesitancy to return to the bar to purchase additional beverages.
8. Direct association with Barc0de provides the venue access to the same promotional reach. As
Barc0de increases its user base through a systematic marketing campaign and strategic
partnerships with local promotion companies, the venue will see a proportional increase in demand.
9. Make ATMs obsolete - the ATMs charge approximately $2 per transaction which students would
prefer to avoid.
a. Decrease ATM maintenance expense
4. 10. Security
a. Security is a top priority for Barc0de to ensure the safety of both the owner’s and
consumers’ accounts. Barc0de features the following security system and protocols:
i. Full encryption when any payment information touches the database
ii. Optional PIN for users
iii. Barcode generated for each unique transaction
Benefits for Bar Goers
Medium-adds an additional payment medium to the bar that was previously unrealized (credit and visa
debit) for over the counter transactions Speed-it is faster than a cash or traditional credit transaction
Convenience-cheaper and easier than an ATM withdrawal to the user, everyone has smartphone Trend-
paying with your phone is cool.
5. Future Expansion of Barc0de
Barc0de has significant growth potential. Within 8 months, our company will be adding on additional
features for the benefit and convenience of the bar owner such as:
o Accounting Assistant for Bar-Owners:
a. Option to input cash revenue, debit/credit revenue, fixed and variable expenses into your
own securitized online personal account in order to automatically calculate profits
b. Automatically generate up-to-date accounting statements such as income statements,
balance sheets, cash flow statements
o Data Analytics:
a. Our staff will analyze raw data and give actionable conclusions to bar owners
b. Develop strategies based on target market demographics, socio-economic considerations,
and sentiment analysis
o Technology Updates:
a. Launching Andriod Application for December 2014
b. Launching NCF - Tap and Pay Technology
c. Additional POS reconciliation and integration
o Additional Features:
a. Send drinks to friends who have the app
b. In-App marketing and promotion
c. Pre-Paid Cover
d. Coat Check integration
6. Initial Roll-Out
1. Initial target market - University and College Students
2. A complete social media rollout (Facebook, Instagram, Twitter, & Website) pushed to consumers
through heavy promotional activity by companies such as AotC, PremierLife, NiteSchool, CDN Ent.,
and LionsDen U. Student organizations such as the USC, Student Clubs, and WesternTV, will also
be involved in the promotional activity. Barc0de will also be featured on their social media
platforms.
3. Viral Videos will be released to create buzz.
4. Grassroots guerilla marketing will be provided by AotC to spread word-of-mouth and hand out
promotional material in residences and around campus.
5. Promotional material will be included in the O-Week packages all students receive upon arrival to
Western.
6. An “Official Barc0de Launch Party” will take place during the 2014 Orientation Week, on the first
major “Therapy Thursday”, for maximum coverage (Approximately 1500 impressions on a single
night).
a. Contests and special offers will be advertised prior to the Launch Party such as:
i. Free entry before 11 pm for anyone who has the app downloaded
ii. Download the app for a chance to win a VIP night at ...
b. Posters informing patrons of the app will be placed outside the bar, for patrons to download
the app while waiting in line and inside the bar to capture any remaining patrons. These
posters will also have QR Codes that patrons can scan and be taken directly to the app store
for immediate download.
c. By providing only one Barc0de station to consumers during the initial introduction of the
system, early adopters will have the exclusive privilege to bypass the cash/debit/credit lines
and immediately order their beverages through Barc0de. This tactic will force the remaining
consumers to immediately download the app, which takes seconds to complete, in order to
take advantage of the exclusivity.
7. Promotional booths inside the bar to engage consumers.
7. Letter of Non-Binding Intent
Owner of ______________________ (Bar) in ____________ (City), Ontario intends to use the Barc0de
application and infrastructure in _____________ (Month) 2014, subject to payment and fee
negotiations. There will be no penalty for either party if negotiations cannot be agreed upon.
Date (MM/DD/YYYY): _____/_____/________________
Signature: ________________________
8. 20% Adoption Pro Forma
80% Cash Users Status Quo $12,000
20% BarPass Users Low Efficiency $3,750
20% BarPass Users High Effciency $6,000
Total Revenue (Low) $15,750
Total Revenue (High) $18,000
Increase over Status Quo (Low) $750
Increase over Status Quo (High) $3,000
% Fee
per transaction rate
Revenue (Cash sales) 12,000$
Revenue (Bar Pass) 3,750$
Net Revenue 15,750$
Processing Fee (Paypal) 188$
Per Transaction Rate (Paypal) 38$
Net Cost 225$
Net Revenue 15,525$
Increase over Status Quo 525$
18%
% Fee
per transaction rate
Revenue (Cash sales) 12,000$
Revenue (Bar Pass) 6,000$
Net Revenue 18,000$
Processing Fee (Paypal) 300$
Per Transaction Rate (Paypal) 60$
Net Cost 360$
Net Revenue 17,640$
Increase over Status Quo 2,640$
41%
BarPass Maximum Breakeven %
BarPass Maximum Breakeven %
5.0%
High Projection
$0.05
Per Night
Bar sales - 20% adoption
Low Projection
5.0%
$0.05
Per Night
Bar sales - 20% adoption
Bar sales - 20% adoption
9. 40% Adoption Pro Forma
60% Cash Users Status Quo $9,000
40% BarPass Users Low Efficiency $7,500
40% BarPass Users High Effciency $12,000
Total Revenue (Low) $16,500
Total Revenue (High) $21,000
Increase over Status Quo (Low) $1,500
Increase over Status Quo (High) $6,000
% Fee
per transaction rate
Revenue (Cash sales) 9,000$
Revenue (Bar Pass) 7,500$
Net Revenue 16,500$
Processing Fee (Paypal) 375$
Per Transaction Rate (Paypal) 75$
Net Cost 450$
Net Revenue 16,050$
Increase over Status Quo 1,050$
18%
% Fee
per transaction rate
Revenue (Cash sales) 9,000$
Revenue (Bar Pass) 12,000$
Net Revenue 21,000$
Processing Fee (Paypal) 600$
Per Transaction Rate (Paypal) 120$
Net Cost 720$
Net Revenue 20,280$
Increase over Status Quo 5,280$
41%
BarPass Maximum Breakeven %
BarPass Maximum Breakeven %
High Projection
5.0%
$0.05
Per Night
Bar sales - 40% adoption
Low Projection
5.0%
$0.05
Per Night
Bar sales - 40% adoption
Bar sales - 40% adoption
10. 60% Adoption Pro Forma
40% Cash Users Status Quo $6,000
60% BarPass Users Low Efficiency $11,250
60% BarPass Users High Effciency $18,000
Total Revenue (Low) $17,250
Total Revenue (High) $24,000
Increase over Status Quo $2,250
Increase over Status Quo $9,000
% Fee
per transaction rate
Revenue (Cash sales) 6,000$
Revenue (Bar Pass) 11,250$
Net Revenue 17,250$
Processing Fee (Paypal) 563$
Per Transaction Rate (Paypal) 113$
Net Cost 675$
Net Revenue 16,575$
Increase over Status Quo 1,575$
18%
% Fee
per transaction rate
Revenue (Cash sales) 6,000$
Revenue (Bar Pass) 18,000$
Net Revenue 24,000$
Processing Fee (Paypal) 900$
Per Transaction Rate (Paypal) 180$
Net Cost 1,080$
Net Revenue 22,920$
Increase over Status Quo 7,920$
41%
BarPass Maximum Breakeven %
BarPass Maximum Breakeven %
High Projection
5.0%
$0.05
Per Night
Bar sales - 60% adoption
Low Projection
5.0%
$0.05
Per Night
Bar sales - 60% adoption
60% Adoption