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LawnStarter's First Pitch Deck
- 1. The easiest way to order and manage your lawn care. www.lawnstarter.com
- 2. The Team 2 Steve Corcoran Ryan Farley We’ve been working together for over 2 years: • Outperformed benchmark by over 10% as Financial Sector analysts in Virginia Tech’s student-managed equity fund • Launched video discovery engine Viirl.com
- 4. $71B industry Single-family Residential Multifamily Residential Commercial Poor customer experience is the status quo 4 Government and Institutional 36% 36% 14% 14% Why Lawn Care?
- 5. Typical Customer Issues 5 • Contractors are unresponsive and unreliable • Managing your account is a pain • Finding a contractor is tough • Getting a quote takes days
- 6. Many services attempt to solve this 6 • Find contractor based on user reviews • Solicit bids from multiple contractors • Order handful of services online with fixed pricing
- 7. Our Solution 7 A seamless customer experience, from start to finish: Order instantly with transparent pricing Manage all aspects of your account online Quality guaranteed Fantastic customer service
- 8. Product 8 Order Service Online Manage Your Account Outstanding Customer service Lawnstarter.com/signup Lawnstarter.com/sign-in
- 9. Who completes the service? 9 Partners Our Crews Partner with reliable contractors that want to grow Earn 20% of revenue Hire a crew chief and give autonomy to lead crew Earn ~40% of revenue Advantages: • Crews already set up • Proven in alpha testing Advantages: • Complete control over schedule • Branding of trucks and uniforms Challenges: • Integrating with existing schedule • Holding partners accountable Challenges: • Hiring crew leaders & crew quickly • Requires up front capital investment
- 10. Homejoy Case Study 10 • Y Combinator-backed, book cleaning services online • Cleaners work exclusively with Homejoy • Expanded to 31 cities in under a year
- 11. What we’ve done 11 Alpha testingSept 2013 Built infrastructureNov 2013 Pre-selling & convertible debt roundFeb 2013 Formed partnerships for 2014Jan 2013
- 12. Going Forward 12 Launch in Greater Washington Metro Area (focused on Fairfax Co) Raise round for expansion into 10-15 metro areas • 3 million people and over 400,000 serviceable lawns • Learn optimal marketing and operations strategies Mar 2014 Nov 2014
- 13. We can acquire customers profitably 13 Partner $600 Our Own Crew $300 Annual Value of a Customer Direct Mail Lead Gen Paid Search Cost per [mail / lead / click] $0.25 $5 $6 1 year breakeven conversion rate (partners) 0.08% 1.59% 1.91% 1 year breakeven conversion rate (our own crews) 0.04% 0.82% 0.98% Expected conversion rate 0.300% 20% 10% Expected CAC $83 $25 $60 Marketing Costs
- 14. Beating the Competition Our advantages: • Leverage data at scale More efficient customer acquisition • Focus on customer experience Higher retention, strong brand Map of lawn care providers in the US.
- 15. Financing Details Total Capital Needed: $110k • Provides 12 month runway (to next funding round) • $30k contributed by founders Use of Proceeds: • $50k: Customer acquisition • $30k: Living expenses • $30k: Operating expenses 15
- 16. The easiest way to order and manage your lawn care. www.lawnstarter.com
Editor's Notes
- Explain partnerships were done in alpha testing