Not Too Late to Date By Yvette Ly, Jaimie Choi, Angela Wu, Britney Messier, Jason Sacher
Agenda Management Team Company Description Operations www.NotTooLateToDate.com Industry Analysis Market Analysis Marketing Plan Financial Projections Business Structure Questions?
Yvette Ly, Founder and CMO -  Responsible for directing marketing, sales, and consumer growth for the company  BS in Hospitality Management at NYU Preston Robert Tisch Center Jaimie Choi, CEO -  Responsible for managing strategy formulation and the overall success of the company B.S in Hospitality Management at NYU Preston Robert Tisch Center MBA from NYU Stern School of Business Angela Wu, COO -  Oversees all business operations in terms of service placement and development B.S. in Hospitality Management at NYU Preston Robert Tisch Center J.D. from Harvard Law Jason Sacher, Marketing and Sales -  Responsible for industry marketing, sales, and membership growth for the company in unison with Yvette  B.S. in Sports Management at NYU Preston Robert Tisch Center MBA from NYU Stern School of Business Britney Messier, CFO -  Responsible for raising capital and for the financial management of the company B.S in Sports Management from NYU  JD/MBA from USC Marshall School of Business and Gould School of Law Not Too Late to Date  Management Team
Board of Advisors    Two active boards of advisors: The customer advisory board (10 members) and the general advisory board (4 members) which includes: Jim Safka, Former CEO of Match.com Mark Zuckerberg, Founder and CEO of Facebook  Samantha Waldorf, Former Regional Director of Customer Relations and Public Affairs at Silversingles.com Greg Liberman    CEO of Spark Networks (one of worlds leading providers of online personal services such as: Jdate, Silversingles, CatholicMingle.com) Gaps in the Management Team    to be filled within six months  Member Care and Relations Information Systems Legal Department (more expansive team than Angela and Britney) HR/Recruiting Not Too Late to Date  Management Team
Not Too Late to Date  Company Description Not Too Late to Date is a dating and friend-finding website targeting single individuals looking for company within the 55+ age bracket.  Whether to take a ballroom class with or to visit the arthritis doctor, we believe older folks, more than any age demographic, need company, friends and lovers too . We’re not talking marriage because at this point, they were probably married once or just aren't looking for that type of relationship. Our users are  not looking for babysitters or caregivers either because being an older citizen should not mean loss of independence, confidence or fun .  Older singles across the nation have families who are primarily working, off to college, building their own families, or plain neglectful. Not Too Late to Date provides a service that connects single older folk who are  seeking a companion to experience life with, believe that it’s not too late to date and let things take their course from there…
Not Too Late to Date  Operational Flow Establish & maintain online social networking interface Host monthly social mixers & events (complimentary for members, cover fee for non-members after trial period) Recruit paying members -------------------------------- Facilitate user interaction online & forming online communities Facilitate in-person interactions ------------------------------------------ Generate trial for new members ------------------------------------------ Reinforce existing relationships between members and create a convenient social space Online communities translate into in-person interactions.  Members are active in a social space that is conducive to forming friendships and relationships. Incentivize   member referrals Free one-month trial Concierge service to enhance guest experience
Membership One-month Free Trial Base Membership VIP Membership Website Features Special Interest Groups  Search-based Not Too Late to Date  Membership & Website Functionality
 
Month 1 - Month 4 (development) Month 5 (beta launch) Month 6 (full launch) Future Expansion Not Too Late to Date  Operational Timeline
Not Too Late to Date  SWOT Analysis
The Early Industry The Modern Industry Increase in competitors/saturation of market Social acceptance of Online Dating Slowdown in growth/profit potential  Not Too Late to Date  Industry Analysis Growth of industry Revenue/profit potential
U.S. Census statistic Quality of Life report Tech-savvier Baby Boomers Market size Image: www.blogspot.com Not Too Late to Date  Market Analysis
Search vs. Compatibility based Direct Indirect Future Not Too Late to Date  Competition
Traditional forms Local publications Event marketing Tri-state > LA, Palm Bay, Phoenix, Connecticut Bingo/Trivia night, cooking classes, bartending workshop, wine tasting, walking tours, jazz night, "Museum After Dar" Not Too Late to Date  Marketing Plan
Year One: Total Gross Sales: $8,826,370 Total Refunds (12 % of sales): $1,059,164 Total Gross Profit: $7,767,205.60 Total Expenses: $649,713.84 Total Net Income: $6,820,491.76 COGS:  That month’s officer’s comp., salaries and wages, payroll taxes, employees benefits, professional services and web site design; however there is no COGS reflected in the income statement because these expenses that make up COGS are already reflected as line item expenses per month on the income statement and should not be accounted for twice End of the year:  we take the total net income and pay out 50% as dividends to future employees and equity investors, 40% reinvested back into the company and 10% put to the cash and cash equivalents fund Not Too Late to Date  Financial Projections
Not Too Late to Date  Financial Projections Year 2 Year 3 Year 4 Total Gross Sales $12,422,199.96 $16,344,999.96 $20,594,700 Total Refunds & Cash Discounts $1,490,664 $1,971,400 $2,471,364 Total Gross Profit $10,931,536.96 $14,373,599.96 $18,123,336 Total Expenses $1,087,932.48 $1,156,327.92 $1,212,357.92 Total Net Income $9,843,603.48 $13,217,272.04 $16,910,978.08 Reinvested $3,937,441.39  $5,286,908.82  $6,764,391.23  Dividends $4,921,801.74  $6,608,636.02  $8,455,489.04  Added to Cash Balance $984,360.35  $1,321,727.20  $1,691,097.81
Have selected our exact location – 447 East 14 th  Street Suite #6B (in Stuy Town) for $3,176 per month  Are already in the application process at Stuy Town  Have successfully staffed all Senior level executives and have already constructed job descriptions and a list of qualifications necessary for each vacant position within the company  Have projected necessary initial investment and the subsequent operating costs and revenues  Have projected dividends paid to equity investors and reinvestment amounts within the company for the next 4 years Have web site design contract agreement already in place and ready to sign with the nation’s leading web design firm Webimax Not Too Late to Date  Project Milestones
Ownership investment = $315,000  being used for the initial down payments on all expenses for the company and for securing subsequent funding vital to the company’s success, including: R & D, consumer testing/product placement and vital industry information Initial Investment: Yvette: $75,000 invested, $68,500 base comp.  Jaimie: $65,000 invested, $62,000 base comp. Angela: $65,000 invested, $62,000 base comp.  Jason: $50,000 invested, $58,500 base comp.  Britney: $60,000 invested, $62,000 base comp. Not Too Late to Date  Current Status
** Equity percentages and compensation rates were determined based on each  respective owner’s initial investment into the company and their subsequent position and responsibilities within the business.  Not Too Late to Date  Ownership
LLC registered in the state of Delaware Ownership consists of the five initial management personnel – equity split evenly (20% 5 ways) Not Too Late to Date  Not Too Late to Date, LLC
Sources of Funds: Management Team Investment: $315,000 Total Funds Committed: $315,000 Total Funds Required: $358,837.60 Total Funds sought from Equity Investors: $38,837.60 Not Too Late to Date  Financing Sought Image: www.savingadvice.com
Uses of Funds: ($358,837.60)  Office and Multi-Media Equipment 7 top of line iMac desktop computers ($14,347.82) 2 Xerox ColorQube Printers ($5,441.57) 1 Xerox Work Centre Copier/Scanner/Fax ($4,680.54) 1 Apple Airport Extreme Wireless Router ($179) 1 Linux Box ($245) Furniture 8 Desks (1,306.41) 8 Office Chairs ($522.60) 8 Lamps ($174.11) Coffee Table ($216.66) Lounge Chairs ($648.90) Initial Marketing Expenses ($50,000) Purchase of Domain Name at GoDaddy.com ($9.99) Website Design and Planning with Webimax ($100,000) Delaware LLC Filing ($50) Delaware Online Business Licensing ($15) Attorneys Fees ($10,000) Copyright and Trademark Code for Website, Name and Logo ($1,000) Other/ Contingency Fund ($15,000) Cash/Working Capital ($150,000) Not Too Late to Date  Fund Allocations
Selling to a larger social companionship service provider such as Facebook or Eharmony if necessary Informal Reorganization or Chapter 11 of Bankruptcy protection if necessary Try to avoid Chapter 7 because the Trustee makes it much more formal  Try to avoid Chapter 13 as well which requires filing a plan of repayment Not Too Late to Date  Exit Strategy Image: www.dailyhealthnow.com
Not Too Late to Date Thank you! Questions?
Image sources http://www.sptimes.com/News/071501/photos/ht-rose.jpg http://local.yodle.com/articles/wp-content/uploads/2009/07/nursing-home-party.jpg http://images.farfesh.com/articles_images/1FARFESHPHOTOS/HEALTH_MEDICAL/HEALTH/Video_games.jpg http://2.bp.blogspot.com/-uPmAasLS7D8/TajiJ6V4KcI/AAAAAAAAADI/Kfoz3pZbN4c/s1600/old%2Bcouple2.jpg http://3.bp.blogspot.com/_-p_9rC6UQc0/Sfb8uM4CQPI/AAAAAAAAAT4/z2NAZtVKtz0/s1600/Angry-old-woman.jpg http://3.bp.blogspot.com/-vEbXHlzuZjA/TVgPqHn8wnI/AAAAAAAAAA0/-W4_wecemwA/s1600/angry-old-person.jpg http://nuckingfutsmama.com/wp-content/uploads/2010/08/angry-old-lady.jpg

Bd final presentation

  • 1.
    Not Too Lateto Date By Yvette Ly, Jaimie Choi, Angela Wu, Britney Messier, Jason Sacher
  • 2.
    Agenda Management TeamCompany Description Operations www.NotTooLateToDate.com Industry Analysis Market Analysis Marketing Plan Financial Projections Business Structure Questions?
  • 3.
    Yvette Ly, Founderand CMO - Responsible for directing marketing, sales, and consumer growth for the company BS in Hospitality Management at NYU Preston Robert Tisch Center Jaimie Choi, CEO - Responsible for managing strategy formulation and the overall success of the company B.S in Hospitality Management at NYU Preston Robert Tisch Center MBA from NYU Stern School of Business Angela Wu, COO - Oversees all business operations in terms of service placement and development B.S. in Hospitality Management at NYU Preston Robert Tisch Center J.D. from Harvard Law Jason Sacher, Marketing and Sales - Responsible for industry marketing, sales, and membership growth for the company in unison with Yvette B.S. in Sports Management at NYU Preston Robert Tisch Center MBA from NYU Stern School of Business Britney Messier, CFO - Responsible for raising capital and for the financial management of the company B.S in Sports Management from NYU JD/MBA from USC Marshall School of Business and Gould School of Law Not Too Late to Date Management Team
  • 4.
    Board of Advisors  Two active boards of advisors: The customer advisory board (10 members) and the general advisory board (4 members) which includes: Jim Safka, Former CEO of Match.com Mark Zuckerberg, Founder and CEO of Facebook Samantha Waldorf, Former Regional Director of Customer Relations and Public Affairs at Silversingles.com Greg Liberman  CEO of Spark Networks (one of worlds leading providers of online personal services such as: Jdate, Silversingles, CatholicMingle.com) Gaps in the Management Team  to be filled within six months Member Care and Relations Information Systems Legal Department (more expansive team than Angela and Britney) HR/Recruiting Not Too Late to Date Management Team
  • 5.
    Not Too Lateto Date Company Description Not Too Late to Date is a dating and friend-finding website targeting single individuals looking for company within the 55+ age bracket. Whether to take a ballroom class with or to visit the arthritis doctor, we believe older folks, more than any age demographic, need company, friends and lovers too . We’re not talking marriage because at this point, they were probably married once or just aren't looking for that type of relationship. Our users are not looking for babysitters or caregivers either because being an older citizen should not mean loss of independence, confidence or fun . Older singles across the nation have families who are primarily working, off to college, building their own families, or plain neglectful. Not Too Late to Date provides a service that connects single older folk who are seeking a companion to experience life with, believe that it’s not too late to date and let things take their course from there…
  • 6.
    Not Too Lateto Date Operational Flow Establish & maintain online social networking interface Host monthly social mixers & events (complimentary for members, cover fee for non-members after trial period) Recruit paying members -------------------------------- Facilitate user interaction online & forming online communities Facilitate in-person interactions ------------------------------------------ Generate trial for new members ------------------------------------------ Reinforce existing relationships between members and create a convenient social space Online communities translate into in-person interactions. Members are active in a social space that is conducive to forming friendships and relationships. Incentivize member referrals Free one-month trial Concierge service to enhance guest experience
  • 7.
    Membership One-month FreeTrial Base Membership VIP Membership Website Features Special Interest Groups Search-based Not Too Late to Date Membership & Website Functionality
  • 8.
  • 9.
    Month 1 -Month 4 (development) Month 5 (beta launch) Month 6 (full launch) Future Expansion Not Too Late to Date Operational Timeline
  • 10.
    Not Too Lateto Date SWOT Analysis
  • 11.
    The Early IndustryThe Modern Industry Increase in competitors/saturation of market Social acceptance of Online Dating Slowdown in growth/profit potential Not Too Late to Date Industry Analysis Growth of industry Revenue/profit potential
  • 12.
    U.S. Census statisticQuality of Life report Tech-savvier Baby Boomers Market size Image: www.blogspot.com Not Too Late to Date Market Analysis
  • 13.
    Search vs. Compatibilitybased Direct Indirect Future Not Too Late to Date Competition
  • 14.
    Traditional forms Localpublications Event marketing Tri-state > LA, Palm Bay, Phoenix, Connecticut Bingo/Trivia night, cooking classes, bartending workshop, wine tasting, walking tours, jazz night, "Museum After Dar" Not Too Late to Date Marketing Plan
  • 15.
    Year One: TotalGross Sales: $8,826,370 Total Refunds (12 % of sales): $1,059,164 Total Gross Profit: $7,767,205.60 Total Expenses: $649,713.84 Total Net Income: $6,820,491.76 COGS: That month’s officer’s comp., salaries and wages, payroll taxes, employees benefits, professional services and web site design; however there is no COGS reflected in the income statement because these expenses that make up COGS are already reflected as line item expenses per month on the income statement and should not be accounted for twice End of the year: we take the total net income and pay out 50% as dividends to future employees and equity investors, 40% reinvested back into the company and 10% put to the cash and cash equivalents fund Not Too Late to Date Financial Projections
  • 16.
    Not Too Lateto Date Financial Projections Year 2 Year 3 Year 4 Total Gross Sales $12,422,199.96 $16,344,999.96 $20,594,700 Total Refunds & Cash Discounts $1,490,664 $1,971,400 $2,471,364 Total Gross Profit $10,931,536.96 $14,373,599.96 $18,123,336 Total Expenses $1,087,932.48 $1,156,327.92 $1,212,357.92 Total Net Income $9,843,603.48 $13,217,272.04 $16,910,978.08 Reinvested $3,937,441.39 $5,286,908.82 $6,764,391.23 Dividends $4,921,801.74 $6,608,636.02 $8,455,489.04 Added to Cash Balance $984,360.35 $1,321,727.20 $1,691,097.81
  • 17.
    Have selected ourexact location – 447 East 14 th Street Suite #6B (in Stuy Town) for $3,176 per month Are already in the application process at Stuy Town Have successfully staffed all Senior level executives and have already constructed job descriptions and a list of qualifications necessary for each vacant position within the company Have projected necessary initial investment and the subsequent operating costs and revenues Have projected dividends paid to equity investors and reinvestment amounts within the company for the next 4 years Have web site design contract agreement already in place and ready to sign with the nation’s leading web design firm Webimax Not Too Late to Date Project Milestones
  • 18.
    Ownership investment =$315,000 being used for the initial down payments on all expenses for the company and for securing subsequent funding vital to the company’s success, including: R & D, consumer testing/product placement and vital industry information Initial Investment: Yvette: $75,000 invested, $68,500 base comp. Jaimie: $65,000 invested, $62,000 base comp. Angela: $65,000 invested, $62,000 base comp. Jason: $50,000 invested, $58,500 base comp. Britney: $60,000 invested, $62,000 base comp. Not Too Late to Date Current Status
  • 19.
    ** Equity percentagesand compensation rates were determined based on each respective owner’s initial investment into the company and their subsequent position and responsibilities within the business. Not Too Late to Date Ownership
  • 20.
    LLC registered inthe state of Delaware Ownership consists of the five initial management personnel – equity split evenly (20% 5 ways) Not Too Late to Date Not Too Late to Date, LLC
  • 21.
    Sources of Funds:Management Team Investment: $315,000 Total Funds Committed: $315,000 Total Funds Required: $358,837.60 Total Funds sought from Equity Investors: $38,837.60 Not Too Late to Date Financing Sought Image: www.savingadvice.com
  • 22.
    Uses of Funds:($358,837.60) Office and Multi-Media Equipment 7 top of line iMac desktop computers ($14,347.82) 2 Xerox ColorQube Printers ($5,441.57) 1 Xerox Work Centre Copier/Scanner/Fax ($4,680.54) 1 Apple Airport Extreme Wireless Router ($179) 1 Linux Box ($245) Furniture 8 Desks (1,306.41) 8 Office Chairs ($522.60) 8 Lamps ($174.11) Coffee Table ($216.66) Lounge Chairs ($648.90) Initial Marketing Expenses ($50,000) Purchase of Domain Name at GoDaddy.com ($9.99) Website Design and Planning with Webimax ($100,000) Delaware LLC Filing ($50) Delaware Online Business Licensing ($15) Attorneys Fees ($10,000) Copyright and Trademark Code for Website, Name and Logo ($1,000) Other/ Contingency Fund ($15,000) Cash/Working Capital ($150,000) Not Too Late to Date Fund Allocations
  • 23.
    Selling to alarger social companionship service provider such as Facebook or Eharmony if necessary Informal Reorganization or Chapter 11 of Bankruptcy protection if necessary Try to avoid Chapter 7 because the Trustee makes it much more formal Try to avoid Chapter 13 as well which requires filing a plan of repayment Not Too Late to Date Exit Strategy Image: www.dailyhealthnow.com
  • 24.
    Not Too Lateto Date Thank you! Questions?
  • 25.
    Image sources http://www.sptimes.com/News/071501/photos/ht-rose.jpghttp://local.yodle.com/articles/wp-content/uploads/2009/07/nursing-home-party.jpg http://images.farfesh.com/articles_images/1FARFESHPHOTOS/HEALTH_MEDICAL/HEALTH/Video_games.jpg http://2.bp.blogspot.com/-uPmAasLS7D8/TajiJ6V4KcI/AAAAAAAAADI/Kfoz3pZbN4c/s1600/old%2Bcouple2.jpg http://3.bp.blogspot.com/_-p_9rC6UQc0/Sfb8uM4CQPI/AAAAAAAAAT4/z2NAZtVKtz0/s1600/Angry-old-woman.jpg http://3.bp.blogspot.com/-vEbXHlzuZjA/TVgPqHn8wnI/AAAAAAAAAA0/-W4_wecemwA/s1600/angry-old-person.jpg http://nuckingfutsmama.com/wp-content/uploads/2010/08/angry-old-lady.jpg