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LetsSplit Pitch Deck - Team Jellyfish


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For the Appendices deck please click here:

LetsSplit is the idea created & developed by Team Jellyfish as part of the Squared Online course.

If you have any questions please join in the discussion on the Square Online forum!

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LetsSplit Pitch Deck - Team Jellyfish

  1. 1. 1
  2. 2. 2 THE PROBLEM Group  bookings  involve:   Ø  getting  everyone  to  agree  on  the  booking   Ø  building  con3idence  people  will  pay   Ø  chasing  people  for  money   Ø  Testing  relationships  with  the  stress  of  money  owed  
  3. 3. 3 The marketplace No  Group   Bookings   Expedia   Self-­‐Serve   Group   Bookings?   Manual  Group   Booking   STA   Travel  Republic   Thompson  
  4. 4. 4 The Users Teachers  booking  school  trips   Hobbyists  booking  for  teams/groups   Young  people  on  budget  holidays   Stag/Hen  Trips   For  details  of  personas  please  refer  to  the  relevant  appendix The Effected customers •  PART  OF  A  MEDIUM/LARGE  GROUP   •  ORGANISED   •  MOBILE   •  BUDGET  CONSCIOUS     •  TIME  POOR     Their priorities •  EASY  /  CLEAN  /  QUICK     •  FLEXIBLE       •  SAFE     •  ABILITY  TO  ‘CHASE  UP’  PAYMENTS   •  ITINERARY  BASED    
  5. 5. 5 The opportunityBased on analysis on appendix p24-25 Ø  The  holiday  booking  industry  is  worth  £45bn  in  the   UK  and  this  increasing  every  year.  This  is  coupled   with  a  steady  decline  in  the  rate  of  solo  bookings  (as   seen  on  Google  Trends).   Ø  No  one  offers  a  simple  self-­‐serve  group  payment   booking  site.   Ø  There  are  currently  no  services  that  allow  for  safe,   transparent  and  trackable  group  payment  systems.  
  6. 6. 6 The ProbleM Group  bookings  involve:   Ø  getting  everyone  to  agree   on  the  booking   Ø  building  con3idence   people  will  pay   Ø  chasing  people  for  money   Ø  Testing  relationships  with   the  stress  of  money  owed   The Solution ü  A  group  payment  mechanism   integrated  into  a  simple  to  use   holiday  booking  website   ü  The  booker  pays  the  deposit   ü  Each  member  pays  for  their  own   share   ü  Payments  can  be  tracked  online  
  7. 7. 7 Group booking made easy. We provide a simple, efficient service for splitting group holiday payments, so you can focus on the trip, not the budget.
  8. 8. 8 The Strategy Product  Leadership     First  to  market  with  a  unique   payment  mechanism  allowing     groups  to  manage  payments  for   holidays  and  avoid  aggravation  over   the  use  of  an  individuals  card.   Operational  Excellence     A  travel  website  which  is  easy  to   navigate  and  feels  intuitive  to   today’s  independent  travellers  who   want  quick,  reliable  and  ef3icient   group  holiday  bookings  online.       The  product;  a  competitive  online  travel  agency  targeted  at  group   booking  with  an  integrated  as  the  group  payment  mechanic.   Value Discipline Strategy
  9. 9. 9 Product Development Timeline Pre-­‐launch  development:   •  Extensive  market   research   *  Mechanic  design  &  tesEng   *  Alpha  &  beta  builds       FY1     One  product,  one   campaign  :  sun     Final  version  build               FY2   Two  markeEng   campaigns  –  ski   and  sun          
  10. 10. 10 The Mechanics Mechanic  Structure:  Modular  architectural  approach  –  allows  diversi3ication  into  other   industries  for  group  payments  
  11. 11. 11 The Operations Small   customer   service  team   handle  account  /   payment  issues   Analysts   site  analy;cs   macro  trends   Sales  /   markeAng   promo;on   customer   engagement   3rd  party   relaAonships   tour  operators   payment   gateway   SMS  gateway  
  12. 12. 12 The Branding / website
  13. 13. 13 The Branding / website Mobile  option   Must be: •  Fast   •  Multi-­‐browser   •  Clear  on  price  &   charges     Must not: •  Show  errors   •  Confuse  the  user   •  Vary  layout  on   different  pages  
  14. 14. 14 The Marketing Plan Ø  Primarily  digital  but  with  outdoor,  experiential  and  traditional  PR  components     Ø  Precise  market  focus  on  a  single  market:  18-­‐25  year  old  group  holidays  (school   leavers,  uni  friends)     Ø   Efforts  will  be  concentrated  on  London  and  other  big  university  towns   Ø  Core  messaging  is  built  around  sharing  experiences  and  making  the  most  of   being  young.     Ø  Heavy  focus  on  retention  and  reactivation  in  FY2  
  15. 15. 15
  16. 16. 16
  17. 17. 17 Sales Goals & Expected Revenue Sales Goals: Ø  15 group sales a month & increase to 60/month in 1st year. Ø  15% to 18% margin in the first 6 months to increase to 20% later in the year. Ø  Double the sales during the peak period in the year. i.e. April till August. Revenue Streams: Ø  Direct Sales on the website and through inbound/outbound calls. Ø  Advertising on the website. Ø  Commissions From airlines, hotels, car rentals etc. Average  sale   value/person 30  Sales 45  Sales 60  Sales £150 £4,500 £6,750 £9,000 £200 £6,000 £9,000 £12,000 £250 £7,500 £11,250 £15,000 *  The  average  sale  value  was  derived  from  the  primary  research  with  travel  agents  considering  DomesEc  and  InternaEonal  Eckets  
  18. 18. 18
  19. 19. 19 Finances / Budget Ø  Startup  costs:  £40K   Ø  Monthly  cost:  £85K   Ø  Balance  at  release  of  MVP:  (£450K)   Ø  Projected  monthly  revenue  Y1:  £2750     Ø  Estimated  break-­‐even  (monthly):  Late  FY  3   Ø  Estimated  break-­‐even  (cumulative):  Late  FY  4  
  20. 20. 20 P&L Forecast
  21. 21. 21 The Considerations? Ø  Group  payment  feature  easily  replicated  by  existing   players  in  this  market   Ø  Need  to  integrate  with  enough  tour  operators  to  make   it  viable   Ø  Large  numbers  of  regulations  to  protect  consumers   Ø  Entering  a  well-­‐established  market   Ø  Delayed  payments  and  multi-­‐currency  transactions   could  lead  to  losses   For  details  of  PEST  and  SWOT  analyses  please  refer  to  the  relevant  appendix  
  22. 22. 22 Some possibilities…   •  Schedule  Payments  /  Installments   •  Patenting  /  Renting  the  patent   •  Expansion  into  International  markets   •  Additional  services  (theatre  tickets,  gifts  etc.)   •  Sales  to  clients  in  industries  of  the  above   •  Advertising  on  the  site   •  Group  promotions  and  exclusives   •  A  group  travel  blog  with  recommendations  for  groups   The Future
  23. 23. 23 FOR more Information, please view our appendices deck on slideshare. if you have any questions, Come and join the discussion on the squared online forum.