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Snagastool Incubator Application
- 2. Our Mission To help guests get the best bar stool or table during for prime time events and increase bar’s bottom line.
- 3. Boston Bars at 4pm Boston has some of the greatest places to enjoy a beer or cocktail. After-work, roof deck drinks overlooking skyline Patriots, Red Sox, Bruins, Celtic Games Guinness for St. Patty’s Day
- 4. …But imagine arriving only to find there are no bar stools or tables available. Boston Bars at 5pm
- 5. Problem Bars do not offer reservations during busy times Why? They don’t need to! We knew there had to be a better way…
- 6. Solution SnagaStool created a marketplace that incentivizes bars to offer reservations during premium times. Bars list their premium “micro real-estate” and earn additional revenue. Customers are willing to pay for prime real estate
- 7. Boston Bars at 4pmHow Does It Work?
- 9. Business Model- IT’S SIMPLY BARSTOOL ECONOMICS Premium (Demand exceeds Supply): Untapped Market Charge user for premium microspace Additional source of revenue for bar 50% shared revenue Auction “Free”: (Supply exceeds Demand) In bars best interest to drive customers to bar during offpeak times Bars are willing to offer incentives We are testing revenue models – user or bar paid
- 10. Quotes “I’ve been going to Grill 23 for 20 years to watch Pats games with my buddies. There is not price I wouldn’t pay to sit there. But the hassle is I got to go two hours early to establish my real estate” -Kevin O’Leary “You can reserve taxis, tables and movie tickets online, so why not a bar stool?” -TechCrunch
- 11. 1 Year since Launch
- 14. Boston Bars at 4pm
- 15. Financial Assumptions Cost to acquire a customer does not pose a cash flow issue Lifetime Value Customer assumes 5 bookings at $20.
- 17. How Will Mass Challenge Help Learn Mentors, other startups, resources Network We aren’t experts in everything but everyone is an expert in something
- 18. How Will We Grow Venues: Partner with Hospitality Groups Users: Started relationship with Fenway Marketing Group “On the ground” Marketing Social Media Reservations: Events
- 19. Boston Bars at 4pm Jamie Manning Co-founder, CEO • BS, Finance, Wayne State • MBA, Sawyer School of Mgt (Suffolk) • 7 years of bar experience Adriano Varassin Co-founder, Marketing • BS, Marketing • MBA, Sawyer School of Mgt. (Suffolk) Dean Whitney Technology, User acq, Design BS, Communications, B.C. MBA, Sawyer School of Mgt. (Suffolk) Dan Bailey Hospitality Advisor GM Jerry Remys & Barteca Restaurant Group Our Team
- 20. In The Media
Editor's Notes
- Picture this - a beautiful Friday afternoon after a long week work meeting up with your friends at Atlantic Beer Garden’s gorgeous roof deck overlooking the Boston Skyline. Or perhaps you prefer watching the the red sox at jerry remys overlooking Fenway Or maybe the asgard, one of cambridge;s best irish pubs, is more your style. Whatever the venue, these photos bring pleasant thoughts to most peoples minds.
- Perhaps you stand around and oddly jockey for a seat. Or maybe you hail an uber to go to another bar only to find that all of those seats are taken. And you end up standing on your feet at the bar fighting for a drink and spilling….
- My co-founder and I met at Suffolk business school and are big sports fans. Whenever we wanted to snag a stool for a game it was difficult, time consuming, and frustrating. Why? – No incentive to bars. Why would they put a reserved sign on a table that already has customers.
- Traction - Were we are in 3-5 years Realistic What do you need to do to get there[ I know the most important thing I need to do is X Unless I get these 1 or 2 things right, I don’t have a business.
- First premium reservation will cover cost of CAC so therefore we are in a scalable situation that will not require a large influx of cash. How do we define metrics for success?
- Mentors have many years of success and failures behind them. We hope their experience can help us cut out some of the mistakes and speed up some of the success.