business plan bringmemydeals

www.bringmemydeals.com

2 http://www.bringmemydeals.com

Table of Contents

OVERVIEW' '

WHAT'IS'QSII?' 46THE'TEAM6 4'

EXECUTIVE'SUMMARY' '

BRING'ME'MY'DEALS!' 6'

BUSINESS'MODEL'INFOGRAPHICS' '

OUR'PLATFORM:'USER’S'POV6 8'TRADITIONAL'MARKETING6 9'OUR'PLATFORM:'MERCHANT’S'POV6 10'

CURRENT'STRATEGY' '

TENTATIVE'GODTODMARKET'STRATEGY6 12'HOW'CAN'OUR'PARTNERS'HELP'CHAMPION'THE'LAUNCH'OF'THE'PLATFORM?6 13'PILOT'LAUNCH'HANDLING6 14'PILOT'LAUNCH'PHASE6 15'POTENTIAL'REVENUE'MODEL6 15'UNIQUE'VALUE'PROPOSITION6 16''


OVERVIEW


Overview of the Program: QSII The Queen’s Summer Innovation Initiative (QSII) is a four-month long start-up incubator program, sponsored by Queen’s University, which brings together ambitious students from diverse academic backgrounds, hoping to innovate and launch their own business venture. Through the program, students are asked to form teams of 4-5 students, to start working on their projects. Consequently, GEMM Labs was formed. It comprises a team of four very talented students with very specific and complimentary skill sets. The Team Daniel Grenzowski, Co-Founder Handling the back-end functionality of our platform is Daniel Grenzowski. Daniel is a recent graduate of the Faculty of Engineering and Applied Science. Daniel specialized in applied mathematics and uses his skills and knowhow to develop complex algorithms that allow our platform to run smoothly. He also interned at Imperial Oil, where he worked as project manager on numerous projects for ESSO, the retail arm of Imperial Oil. Basil Ennab, Co-Founder Managing one-half of the business side of GEMM Labs is Basil Ennab. Basil is a recent graduate of the Queen’s School of Business with a specialization in Finance and International Business. Basil is an international student from Jordan who has worked as a Foreign Exchange Trader for Citibank, as well as a financial control officer for HSBC, where he excelled in both positions. Stephen McDonald, Co-Founder Leading the development of the technology is Stephen McDonald, who is a recent graduate of the School of Computing at Queen’s. Stephen has consistently demonstrated great ability in programming, that IBM recruited him for a 16-Month long internship. He also is an iOS app developer; having launched his app on the app store, where it garnered critical acclaim, as well as thousands of downloads. Aaron Murray, Co-Founder On the other end of the business spectrum is Aaron Murray. Aaron also recently graduated from the Queen’s School of Business with a specialization in Corporate Strategy. As a budding entrepreneur, Aaron has successfully launched his own roofing business, as well as starting his own not-for-profit consulting business Freshsight, which gained AMS ratification.


Executive Summary


Bring Me My Deals! Our belief Advertising in today’s world is grossly inefficient. Companies spend far too much money on advertising to the masses, where in actual fact, they’re only trying to reach a smaller group of individuals. This ‘spray and pray’ approach is far too outdated, and does rarely yield the outcomes that companies desire. Pain Point: ‘Misallocation of marketing budget is a pain point for companies, especially when they advertise to the masses, but are realistically only targeting a select group of individuals.’ On the consumer end, customers are constantly bombarded with advertisements that they don’t care for. They would subscribe to fliers and email notifications from companies that end up spamming their mailboxes, thus presenting a source of frustration and inconvenience on the customer side. Pain Point: ‘Consumers are constantly heckled with advertisements from companies that either do not interest them, or constantly bombard and spam them.’ In other words, we plan to develop a filter for your flyers. What we intend to do We intend to flip the marketing process on its head. We believe that customers want to be advertised to, but only by the companies that they are explicitly interested in buying products or services from, and on their own terms. Our Solution We are developing a web-based app that acts as a promotion twitter for companies. The end-users (customers) will be able to follow the companies that they want to receive promotions from. Unlike other social network platforms like Facebook and Twitter, our platform doesn’t aim to engage the potential customer on a friendship level. Our app simply aims to pull and drive foot traffic into our partner’s store. Ultimately, our end-users will be within a few clicks away from browsing through the deals they want. Vendors will be able to push their deals, on a vendor-view page, which would allow customers to see the promotions that companies are currently running. The promotions would not get lost in the newsfeed, as they usually do on social platforms. Our Current Progress We are close to finalizing our prototype. A great portion of our back-end functionality has now been completed. We are working on refining some of the web-app’s front-end design, as well as adding some new features that would enhance our minimum viable product. Our next steps Our current short-term goal is to partner with 10-15 initial companies, from a broad range of industries, in order to pilot launch our business, prior to approaching the downtown business improvement areas of the various cities that we intend to target, starting with Kingston.


Business Model


Our Platform: User’s Point of View Using our app, users will be able to follow the companies that they want to receive deals and promotions from.


Traditional Marketing: Using the flyer to try to reach the masses, even though only a select group of consumers will want the ads.


Our Platform: Merchant’s Point of View Advertising to the target group of consumers that want to receive the company’s deals and promotions.


Current Strategy


Tentative Go-to-Market Strategy Build from the ground up with the companies we partner with. Leverage their consumer base, as well as the consumer base of other companies that join the platform. The more users that subscribe to the platform, the greater the incremental benefits will be for companies participating, since this could facilitate company discovery by user.

Partner with

Company

Reach the Company's Consumers

Push our Platform to

the Consumers

Facilitate Cross-

Company Discovery


How can our Partners help champion the launch of the Platform? In order to make this platform successful, we will need a large user base. We envision the best means to achieving that is if our partners help promote our platform to their clients. This would not require the partner to spend any money on extra-promotional material. Simply put, the success of our platform will lead to your success. We have identified the following avenues, as the best modes of entry for our web-app:

Consumers become

end-users

Promote our Platform in-store

(beside till, BMMD will provide promo

material)

Promote our Platform in existing

company's flyers

Promote our Platform on social

media outlets (Facebook, Twitter)

Promote our Platform on

company website


Pilot-Launch Handling of Company-Specific Admin Page

Provide Vendors with tutorial over the handling of

admin page!

Hand over the control of admin

page to our partners.

Request feedback from partners

(vendors).

Prepare Promotional Images with Descriptions

Email us promotional

package

We will push material to the website

(initally).


Pilot-Launch Phase

Potential Revenue Model We will be launching our platform initially on a fremium basis. Essentially, all our core features would be offered to both the users and the vendors for free. As we gain traction, and validate our model (several months), we will begin to charge our future partners (vendors) based on one of the following revenue avenues:

Beta Test

• Pilot Launch platform with top-tier, early local Kingston business adopters

Process Feedback

• Fine tuning the platform

Expand company partnerships

• Approach the Kignston Downtown Business Improvement Area

• Scalability

Vender View Page Management

• Page handling fee

• Fixed & Variable component

Pay Per Click (View)

• Pay to be tied to the number of clicks/view a page (promotion) receives.

Competing for Wish List

• Exlcusive deal space to BMMD.

• Companies bid to post their promo within this space.

Pay Per Push Notification

• Depends on reach

• Number of updates (pushes) made.


Unique Value Proposition and Competitive Advantage

Newspapers (Print Media)

Direct Mail

Flyers

Email Blasting

Magazine Advertisement

TV – 30 Second

Commercials

Groupon BringMeMyDeals!

Cost $30,868 $2500 $400 $2,450 $2900 X% of deal FREEMIUM Reach 361,323 50000 40000 37000 40000 Location

subscribers Targeted

Cost/Reach $0.09 $0.05 $0.01 $0.07 $0.07 FREMIUM Target

Demographic Homes/Businesses Homes Women Aged

25-50 Everyone Existing

clients

Follow the companies that YOU want to receive ads

from.

Two clicks away from any company’s

promotions, at any point.

We provide companies with ANALYTICS.

Facilitate cross-company discovery (leveraging existing

user bases).

Translate the Facebook page likes

into foot traffic at the store ! SALES.

Push exclusive content to our

platform.

Would me much more cost-effective

than traditional advertising.

Reaching eyeballs that matter.

business plan bringmemydeals

Documents

queens school of business

international business

business spectrum

roofing business

business venture

queens university

recent graduate

basil ennab