Jamie MillerPatrick Larkin Darren Trainor

Director Team

Seán Trainor Aidan ClarkeSeán O’ Hanlon

Who are we?• 6 members • Queen’s University Belfast• BSc Business Information Technology• Y.O.P.E. - Sandwich Course

What is Parktxt?

“Our mission at PARKTxT is as unique as it is simple; we want to provide a text service to customers to ensure they are aware of excessive car parking charges, whilst giving them the opportunity to save some money. We will not turn into a premium text service, attempting to take advantage of our customers; instead we will provide clear information at a sensible price, always remaining within the control of our customers.”

Description

Mission Statement

How much they have currently spent.

How long they have currently spent in the car park. How long until their next tariff kicks in.

PARKTxT provides a text service that will allow car park customers to check:

Retailers in the locality will also be able to provide up-to-date, targeted marketing to PARKTxT customers while taking advantage of valuable data mining.

The Problem

Park in a car park

+

Go shopping

Eating

Cinema

=

How Long in minutes??.. & Car Park Fees?? ..

+

+

How does the service work?

Customer collects ticket from machine

Step 1

Customer Texts PARKTxT

Step 2

87275 = 8PARK

PARKTxT Confirmation Text

Step 3

Hourly update message sent to customer

Step 4

Marketing Strategy We intend to allocate 25% of our predicted year one revenue to marketing and sales which is a distinct increase on the industry average of 5%

Local Press – Belfast Telegraph, Irish News, Industry magazines etc.

Local Radio – Citybeat, Cool FM, U105

Adshels

48 Sheets (Billboards)

Bus Externals

We have decided to advertise through the following methods based on our research :

You may have seen some of our advertising already in:

The Gown Magazine

SU Magazine

South Belfast News

Ulster Business

You will be alerted 15 minutes before every milestone, hence allowing you to return to your car and exit the car park before being caught unnecessarily by the next tariff.

Stay for 59 minutes = £2.70

Stay for 1 Hour 1minutes = £5.30

Daily tariffs Price Difference Between Tariffs

1 Hour £2.70

£2.60 1 - 2 Hours £5.30

Figures from NCP – Montgomery Street Belfast

Benefits - Customer

Benefits - Customer You will know exactly how much you pay at the pay point machine

i.e. you will have enough change

You will receive special offers from local businesses tailored to your interests

Benefits - Customer

Register Online

Cafes / RestaurantsChildren’s WearElectrical, Music & Mobile PhonesFashion - General Food StoresFootwearGifts, Cards, Stationery & BooksHealth & BeautyJewellery Sport

Q) What type of outlets do you wish to receive updates on?

Return customers can register online and choose what shops interest you.

From this information we can then break down demographics of our users and then send them specific advertising messages.

Benefits – Car Park Increased turnover over of spaces. Most money is made in the earlier tariffs.

Daily tariffs Price Difference Between Tariffs

1 Hour £2.70£2.60

1 - 2 Hours £5.30£2.50

2 - 3 Hours £7.80£2.30

3 - 4 Hours £10.10

Advertising via text message may result in customer staying longer within the car park as they may wish to avail of a sale or discount within a local store.

Benefits – Car Park Customer goodwill initiative – increased business due to offering customers

access to new innovative technology

“Anything new or innovative in the car-park industry attracts extra custom.”Jim Neeson CEO, CITYPARK

Data Mining

Car Park providers will be able to build a profile on their customers. At present car park owners don’t know who there customers are or why they choose to use certain car-parks in preference of others.

What is needed to build the system?

Visual Programming

1. Microsoft Visual Studio 20052. Java

Database server

1. Microsoft SQL server2. My SQL3. Microsoft Access

GSM Modem

1. Mobile phone handset that supports AT commands

2. Multi-Tech Multi Modem

Technical Details

Visual Programming language

Back end database server

GSM Modem for sending and receiving text messages

“Rusty Brick” iPhone Parking Meter

iPhone App that displays how long the user has to top up their parking meter, alerted via sms or e-mail.

Essentially a “glorified” countdown timer.

iPhone exclusive 96.8 Billion text messages sent in the UK last year - Huge market potential

Competitor 1

“Easy Trip” Tag

Competitor 2

Customer sets up an account with Easytrip

Easytrip “tag” is installed on the windscreen

Integrates all parking, toll and security charges into one account, deducted automatically via electronic means.

Credit or debit card required to set up an account.

Minimum charge of €36 to make use of the service.

NCP “Gateway” Service

Competitor 3

Allows customers to text and find the nearest car-parks and generate reports on car-park expenditure

Aimed at most companies, local authorities and government bodies

Integrates services rather than saving money – Turnover of Spaces

Does not support traditional methods of payment

Currently only available in 90 NCP Car-Parks

Competitive Matrix

FactorPARKTxT Service

NCP Gateway Easytrip Tag iPhone Parking Meter

Low Cost ✔ X X ✔

Registration Required? X ✔ ✔ X

Accessibility of Service ✔ X X X

Brand Recognition X ✔ ✔ X

Traditional Methods of Payment? ✔ X X X

Room for Diversification ✔ X ✔ X

Price Transparency ✔ X X ✔

Company Formation

Trademarks

Copyright

Legal – Formation & IP

PARKTxT will be formed as a Ltd Company Legal entity separate from the owners

Limited Liability

Automatic right protecting all original work

Database Structure

Software Code

Distinguishable name and logo

PARKTxT is currently available via Trademark Search UK

Domain Names secured.

Legal - Legislation

Data Protection Act 1998

Health and Safety

Insurance

Open Source Code Text Fraud / Implications

External Finance

Personal investment of £2,000 from each of the six directors.

A further £1,300 from each director’s assorted friends and families, therefore presenting approximately £20,000 of initial monies.

There are a number of investment opportunities for new businesses in Northern Ireland. We intend to fund the start-up of PARKTxT by:

Overdraft and loan borrowing up to £30,000 for new businesses

Fee free Visa business credit card for one year

We chose Bank of Ireland as they offer associations with organisations such as

Peninsula Big Red Book Agnew Corporate Chooboo BT

Funding Partners

Finance

PARKTxT operates by generating revenue in a relatively unique way.

As such, no suitable companies to compare with.

Sales forecast therefore based on a series of conservative estimates taken from our market research.

Calculating Sales PARKTxT will launch at two

sites, with 596, and 472 spaces – a total of around 1000 spaces.

These spaces are used on average 45 times a Week, with the average customer staying for 3 chargeable hours.

This gives a total of 45000 space uses per week.

From our preliminary research:

Car Park Operators, taking into consideration peak periods, and users paying a set lease per month, estimate a 40% occupancy percentage on average.

Based on survey results, PARKTxT conservatively predicts a 20% service usage during Year One.

One usage equates to 3 Texts, or 45p revenue for PARKTxT.

Predicted Growth (3 Year Forecast)

The Future

Malcolm Barclay – London Underground ‘Tube Deluxe’

i-PARKTxT

Future Products

ParkSafe

Park in your pocket Number of Car Parks per city

Closest / Cheapest Car Park

Number of spaces available

Congestion charges

Link with PSNI to alert for stolen car registration

Link to PSNI to alert for a fake registration plate

The Future ?

The Future ?

Product Launch - Belfast May 2010

Product Launch

Our main customers are NCP, Q Park, Castle Court (Westfield) and City Parks who will employ our system.

We have had talks with all these companies and they are extremely keen to use our product.

PartnershipAPS - Advanced Parking SolutionIntertraffic 3-Day Conference in Holland23rd - 26th March 2010Meeting with the Head of Skidata Europe

Direct InvestmentMr Denis Murphy Chairman & CEO at AnaekoSold Apion (Openwave) in 1999 for $250 millionInterested in launching our product across Anaeko’s multi-operator service in Canada

Route to Market

Follow Us

www.parktxt.co.ukwww.parktxt.com

Website:

Social Networking:

E-mail:info@parktxt.co.uk

07913239433

Direct:

Thank you