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Household • Repairing • Beauty&Wellness
Tutoring • Personal • Assistance • Cleaning
Delivery • Transport • Events • Tours • Food
Therapy • Entertainment
New York, 2015
for Providers and Customers of local ServicesOnline Marketplace
Table of ContentsSummary
Status / what we have achieved
Next Phase Goals (12 months)
Business Model
Project Phases
Clients / Vendors Base Growth
Business Model map
Advantages
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USPs
Standard User Scenarios
Structure of services (200+)
Our Target: Technical Releases
Our Target: Marketing Strategy
Our Target: Promotion Tools
Market of local services in US
Our Target: Gamification
Our Team
Corporate Set-up
Contact Information
Advertising Design
Platform Design
Technology Stack
Payment Processes
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Summary
Targeted economics/ metrics• Around 235,000 new (new clients) profiled platform users
• Register 22,000 total new service providers
• 587,000 service provision transactions
• Reach monthly transaction fees volume of up to 749,000 USD
ProjectInternet-Based Auction (Marketplace) Platform for services marketing, sales and provision: workhe-roes.com
Description: Innovative, unique and global internet services B2Cauction platform workheroes.com of-fering unique service in the area of service market-ing, services are delivered to the customers, making customers wishes the center of service market. Aim of the workheroes.com is to ease the process of search, sourcing,valuation and acquisition of corpo-rate and household services, to revolutionize modern service market the way Amazon revolution-ized global product market.
Next phase duration: 12 months
Region: 1st focus: NY, 2nd focus: 5 major US metro-politan areas, platform establishment in UK and Germany
Current status• Technical platform developed (Release 1):workheroes.com
• Workheroes.com operational (beta)
• Frist registrations in progress
• First marketing steps in progress
• Attracted 1st round investments (2013):capital: 500,000 EUR
• Full scale marketing campaign fully prepared
Unique products and features200+ standardized services. We have standardized businessprocesses of 200+ most common and popular services and for each of the services we developed a simple ordering / marketing process. Each service is ordered simply through several clicks for the customer. Standardization of the ser-vices order parameters allows for Instant Offers, where the platform calculates and offers service packages to the client on behalf of the provider. Standardization allows for the simple ordering pro-cess on the mobile and touch platforms.
Instant Offer. The system compares subscriptions with incoming client requests for matching parame-ters. The system will calculate the price for an offer and send it to the client. In this case, the providers’ physical presence is not required. The offer will be sent automatically and instantly.
Hot Deal – It is a ready to use standard offer
Providers promo Page – It is a special promo page with a short direct link for the provider
Business ModelServices E-Marketplace-AuctionWe firmly believe that over time, the B2C service market will develop in the same way as the e-product market. That is why our goal is to devel-op a customer-centric platform that will change the buying habits at the e-service market in the long run:
We free our clients from the work involved in ordering: The client merely states which service he or she would like and the service providers then contact the client
Unified and easy processes: From ordering to reviewing – in doing so we expect to win client loyalty
In the long term, the platform should become a central shopping location for all sorts of services
We envision our solution in the form of an e-marketplace, where compa-nies and individuals can offer their services. The buyer can search both by category and provider for the required service, as well as stating a request and receiving offers from the service providers.
The service market is currently still influenced by the old paradigm, where the service providers and not the clients are put in the middle.
Business ModelThe goal of our project is to provide a B2C online trading platform for various services on the Internet.
Buyers and sellers of services are brought together in the following manner:
buyers are permitted to list (put into the system) the services they want to buy
sellers can view buyers requests and make specific offers to provide the requested service, or preset the instant offers
buyers can view all offers made by sellers and buy a specific offer
throughout the buying and delivery process buyers and sellers communicate using the platform
service delivery from seller to buyer is monitored by the platform
buyers can list service providers and contact them directly with a request
Our project streamlines and globalizes the traditional process of service delivery, which is normally restricted to local businesses. We also change the buyer’s experience, who traditionally have to find, compare and contact service providers personally. We shift the focus of attention to the buyer (customer, service consumer) by changing the direction of the whole process: the service sellers will now be able to find, contact and make offers to interested customers. This facilitates easy and transparent service buying process for customers and enables very effective customer acquisition for service sellers.
Using the platform for buying services is free of charge,but the service sellers are charged following kinds of fees:
Transaction fees (3,99% + $1,99)
Sales Ads – “Hot Deals”
Service Ads – Related Services
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Status / what we have achieved—
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Technical platform developed (Release 1): workheroes.com
Workheroes.com operational (beta)
Frist registrations in progress
First marketing steps in progress
Full scale marketing campaign fully prepared
Marketing materials, content, instruments, external contracts prepared
Offline promotion (New York) campaign fully planned
Marketing and affiliate partners secured
Workheroes.com domain registered
Workheroes brand name registered
Workheroes gamification concept in place
Platform IP rights secured
German and UK market penetration prepared and planned
Co-branding partners negotiations in progress (toys, accessories..)
Attracted 1st round investments (2013): capital: 500 000 EUR
Next technical releases (technical documentation and functional requirements) prepared
2nd phase financing goalsTo profit through the staged capital value growth of the project company RITTER DIGITAL SOLUTIONS, INC, owning workheroes.com plat-form
Fast and significant annual capital / valuation growth
To attract 3rd stage institutional investor for global expansion growth and finally an IPO
Develop workheroes.com to a similar global platform to eBay and Amazon
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Business goals235,000 registrations in US during 12 months of 2nd development phase (as muchas possible active and loyal users)
22,000 active providers during 12 months of 2nd development phase
Focus on New York area
Secondary focus on 5 biggest US metropolitan areas
CAC up to $ 5
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International expansiongoals (UK and Germany)
We plan to establish the platform presence in Germany and UK markets
We will adopt / expand the technical platform to the requirements of the UK and German mar-kets
We will adopt / translate the required platform and marketing content
We will adopt payment system and legal struc-ture to the national UK and German require-ments
If required, we will establish the national corpo-rate presence for the platformoperation at mini-mum cost
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Communicative goals Building and maintaining brand image Workhe-roes
Formation of a viral effect
Encourage members to talk in an environment of positive experiences on the platform
Encourage providers to use workheroes.com to advertise their services and profile with refer-ence to the platform
Promptly respond to negative reviews about the platform
Deviation from the competitor
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Next Phase Goals (12 months)
With minimum equity capital exposure, 2nd proj-ect stage should bring the workheroes.com to the stage at which it starts covering its opera-tion costs and generating profits
To revolutionize modern service market the way Amazon revolutionized global product market
To continue development of the workhe-roes.com, innovative and highly technological internet services auction platform offering unique service in the area of service marketing
Project Phases
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Business, Financial& Development Plans
US MarketPenetration
Development of full project documentation package
Investor sourcing for the 1st phase
Full technical system development
Start of operation
Market establishment
Investor sourcing for the 2nd round
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Start of operation
Marketing campaign
Market establishment
Achievement of profitability
Constant client base growth
Investor sourcing for the 3rd round
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IPO—
US MarketEstablishment
EU (27) + Asianmarkets Penetration
3 year (projected)1 year (current)1 year3 months (completed)
3 Phase 4 Phase2 Phase1 Phase0 Phase
Clients / Vendors Base GrowthProjectionsWe intend to attract during the next 12 months of platform operation:
Around 235,000 new (new clients) profiled plat-form users
Register 22,000 total new service providers
586,000 service provision transactions
Reach monthly transaction fees volume of up to 748,000 USD
In our business model we have included the experiences of major leading internet services sale platforms. In the chosen fee structure we tried to combine our commercial interests and sellers incentives to maximize sales volume.
Sales Fees (3,99% + $1,99): These fees are charged each time a customer buys a service and are paid by service provider.
Instant Offers: These fees are charged if a service seller buys lots for instant offers. The price for lots is dependent on the category.
Additional Features Fees: These fees are optional and are charged if the service seller turns on additional features
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total 1M 2M 3M 4M 5M 6M 7M 8M 9M 10M 11M 12M
New clients visits (new potential qualified clients)
Registered clients (cumulated)
Total transaction volume (USD)
Total amount of transactions
Total amount of vendors offered lots (incl. not bought)
Registered vendors (cumulated)
Transactions volume (USD) per provider
Average amount of offered lots (from vendors) per inquiry (from clients)
1,914,042
234.898
17,584,973
586,166
2,240,596
21,754
13,000
1,300
19,500
650
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1,300
350
56
14,300
2,730
81,900
2,730
2
5,460
385
213
16,803
4,410
132,308
4,410
2
8,821
452
292
21,003
6,744
202,318
6,744
2
13,488
565
358
27,829
9,836
295,082
9,836
3
29,508
749
394
38,961
14,165
424,951
14,165
3
42,495
1,049
405
57,467
20,550
616,508
20,550
3
61,651
1,547
398
89,074
30,447
913,422
30,447
3
91,342
2,398
381
144,745
48,541
1,456,217
48,541
4
194,162
3,897
374
246,067
79,299
2,378,970
79,299
4
317,196
6,625
359
436,769
133,895
4,016,855
133,895
4
535,581
11,759
342
808,023
234,898
7,046,943
234,898
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939,592
21,754
324
1,868,100 2,072 8,701 14,055 21,493 31,348 45,144 65,494 97,036 154,699 252,726 426,724 748,620Transaction fees (total amount)
Business Model mapProblems (TOP3)Provider:Spend time and money to attract customers (sales office, site, promo, calls, emails) Working without prepayment and guaranties Difficulty to start without capital
Customer:Spend time for search, choice, waiting, calls, emails to providers The services are not standardized as the goods It’s not possible to have an Instant deal
Cost structure:marketing, salary, equipment, hosting, bank, paypal
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Unique valueproposition
Instant offerHotdealsProviders promo pageDashboardLow price (Fee 3,99% + $1,99)
UVP for providers– online sales office. Automatic sales
UTP for client – instant offers, price auction, reservation money until delivery service
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Direct mails, emailsBTLNewspapersSMM, contentSEO, linksContestsViral PROutdoor, IndoorPartnersAffiliate program
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Unfair advantageFun, Game styleInstant offersCompetitors conditions
Solutions (TOP Features)Provider:
Fee only for real dealsAutomatic Instant offersDashboardProviders’ promo pageHotDeals
Customer:Request instead of searching Instant offers from many roviders and deals without callsStandardized services
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Active customersActive providersChurn rates/retentionRevenue, TurnoverConversion ratesCACServices MarginsTransaction figuresSite visits analyticsEBITCash Flow
Success metrics
Provider:Small businessStart-up businessIndividualsFreelancersStudents for additional earning
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ClientHouseholdersHousewivesSmall businessownersManagers
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For Customers:We free the customer of the work connected to ordering a service (searching, comparing, gathering opinions, establishing contact, following up, etc.): The client only needs to state which service he or she wishes to acquire and the service providers approach the client
Platform integrates vast variety of services – single “shopping center” for all kind of services
Client can pay in cash after the deal or we will reserve the vonline payment for service up to verification
Many service providers are competing, which creates fair prices and higher quality.
Our platforms international focus, as well as location-independent access allow services such as “translation services” to be performed by foreign experts
Advantages
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Customers platform modules:GeneralChat SettingsServices & RequestsOffersProjects
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For Service Providers:No investments needed – you can start using our platformright away
Focus on your core services – we find customers and provide infrastructure for you
Automated sales in the personal sales office on workheroes.com.
Low fees structure (3,99% + $1,99)
On workheroes.com vendors can subscribe to customers requests for a service, place automatic responses to requests (instant offers), and place package offers with special conditions (hot deals)
Both corporate and private service providers can efficiently participate and compete
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Providers platform modules:GeneralRequestsProjectsServices & SubscriptionsSettings
USPsInstant Offer – Provider activates this feature on each subscription and provides the following parameter: max. number of sold IOsThe system will then compare those subscriptions with incoming client requests for matching parameters. In case of a match, the system will calculate the price for an offer and send it to the client. In this case, the providers’ physical presence is not required. The offer will be sent automatically and instantly.
Manual Offer - To create an offer, the seller needs to provide the following:Subscriptions and their prices, Comment to the client. This offer package will be sent to a client.
Hot Deal – It is a ready to use standard offer, comparable to a coupon on Groupon.com. A request from the customer is not required
Providers promo Page – It is a special promo page with a short direct link for the provider. The page contains all of the providers’ offers, its description, galleries, and reviews. Provider can advertise this page in the external environment, encouraging customers to make personal requests
Dashboard - All personal providers statistics. Sales funnel, charts, dynamics, visits, sales
Internal chat – Provider and customer can discuss any questions or concerns, quickly and efficiently.
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200+ standardized services:We have standardized business processes of 200+ most common and popular services and for each of the services we developed a simple ordering / marketing process.
Each service is ordered simply through several clicks for the customer.
Providers also can easily describe the service on the basis of most important parameters
Standardization of the services order parameters allows for Instant Offers, where the platform calculates and offers service packages to the client on behalf of the provider
Standardization allows for the simple ordering process on the mobile and touch platforms
Structure of services (200+)Animals and pets
Dogs walking and training services
Beauty WellnessImage consulting Sport and fitness Massage therapy
Nails Spa procedures Yoga lessons
BusinessOther businnes services Security services
Cleanang services Paper shredding services
Presentation development services Virtual assistant services
EducationSchool homework assistance Translation Tutoring
Musical Instruments lessons Proofreding
Hobbies and RecrationDance lessons Musical instruments lessons
Photo and video Image consulting
Rental products for outdoor activites Tutoring Yoga
Water sports Sports lessons Leisure
HomeCleaning
Cleaning
Domestic LandscapePaper shredding
Security Delivery Personal care Other home services
Home improvement Sanitation
TransportTransport rent Car services Drivers services
Moving and freight transport Tire services
Driving lessons Car electronics
ElectronicsCell phones repair Computers repair
Other electronics repair
EntertaimentHiring staff for restaurants or for events/catering Delivery
Photo and video Event
Commercial junk removal
Roof/Siding Pressure Wash
Commercial snow removal services
Chimney cleaning
Commercial area cleaning
Roof/Siding Washing
Windows Cleaning (interior)
Roof/Siding Washing
Air Duct CleaningInspection and cleaning of residential air ducts. Removing dust and harmful pollut-ants which decrease air quality and can...
Find a workhero Become a workhero
Standard User ScenariosFor customers:
Sign up Choose the service Submit a request Check the offers instantly Accept the best offer Make the payment Use the service Confirm delivery Leave a review
For providers:
Sign up Choose the service Create a subscription Fill of the instant offer Check your email about deals Deliver services Confirm delivery Leave a review Get paid
Market of local services in US
Requests, waiting offer
$149m - Investments
$1,8b – Turnover
7,5m users (64k providers)
3m projects yearly
900+ services
All USA market
$3,5-16 for deal Fee
Since 2009
Choice from 4 providers,waiting offer
$2,5m Investments
$200m Turnover
25m users (85k providers)
Over 500 categoriesof services
$30-50 for deal Fee
USA, Canada, France, England
Since 1998
Catalog of providers, waiting offer
$40m – Investments
$4m – Turnover
2m users (25k providers
4 categories of services
Main cities of USA
20-26% for deal Fee
Since 2011
Catalog of providers, waiting offer
Acquired by The Home Deport about $70-90m (2012)
$7,5m Investments
0,5m users (5k providers)
Over 60 categories
$29,95 monthly + $20-40for deal Fee
Over 200 states of USA
Since 2008
Catalog of providers, fixing offers for appointments
Calendars integrated
$3m Investments
0,5m users
Over 80 services
3% for deal + 37% fordeal with each new client
$200 all includes
All USA market
Since 2013
New service of Amazon
Ready to use offers with dis-counts like groupon.com
New service of Amazon
Requests, waiting offer
Coming soon
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External marketing sourcesAn internal affiliate program, which will aim to attract new users by providing affiliates with performance based rewards
Banner ads on external sites, which sell products related to our services (pool cleaning service ad on a pool store website)
Cooperation with employment platforms (jooble.com, indeed.com)
Offline providers attractionOur marketing team will search (telephone, personal presence) and source required offline providers, if they are not already available for every customer service request
Our marketing team will scout major NYC streets for interested vendors and provide registration in shop, on the tablet
We will contract major service providers for every service type, in major metropolitan areas
Our Target: Marketing StrategyMarketing strategyFee strategy:Maintain one single fee for all providers. Possibly add a monthly or a yearly subscription fee for unlimited deals in that given time period
Geographical expansion:Create presence in the entire USA, actively grow our database with service providers with Instant Offers. 1st priority – NYC, 2nd priority– 5 major US metropolitan ares
Product strategy:Development of new and unique tools for the users (Calendar system, iBeacon integration, perfect the service request forms)
Promo strategy:Create innovative and unique campaigns by demonstrating our competitive advantages. Increase the number of inbound links to our platform by means of viral content , gamification, and affiliate programs.
External marketing sourcesMarketing Budget StructureThese figures are based on the average market conversion.
30% - Online marketing contractors (Entire USA)60% - Offline marketing contractors (NY and 5 major US metro areas)5% - Mobile ads4% - Production costs, creative content, marketing team1% - Other expenses
Our Target: Promotion Tools SEO
Context (CPC)
Display
SMM
PR
Newspapers
Colleagues
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BTL
Direct mail
Telemarketing
Production / creative
Mobile CPC
Shopping Centers
Social media managementManagement of social media group pages
Formation of creative content
Transfer requests and offers
Related news stories
Encourage proliferation of the affiliate program and the gamification concept
PR: create a positive image, timely address negative feedback, spread content on external sites
A fixed monthly payment to an agency
Advertising budget (PPC) + 15%
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Target:Service providers
Goal:Increase the provider’s involvement and activity on the platform in order to attract more buyers and increase the conversion rate
Additional goals:Help providers advertise their business with the help of the platform
Target user behavior:complete registration, create a service subscription, monitor client requests, daily platform visitation, business self promotion, post offers on external sites
Principals of gamification:simple rules, all of the scenarios are intended for reaching achievement goals, to gain feedback from providers, adjustment of the users behavior, to get providers involved and immersed into the business process.
Structure of gamification:Motivation – Action – Communication – MotivationA story about a rookie players’ adventure to becoming a pro
Main idea:We put the user into a virtual world and put them into a superheroes’ shoes. In the process of becoming the best superhero, he or she will face different obstacles.
Our Target: Gamification
R2Improvements:
System emails for usersStatic Images Address input updateService parameters viewing formService overview page Sign up process updateOffer sharing
New functions:HotDealsProviders’ promo pageProviders’ dashboardClient requests publishingStatisticsSEO optimizationCreative 404Affiliate ProgramDefault Avatars
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R2Improvements:
StatisticsProviders’ dashboardFees accounting systemSEOFiltersAdministrative panel
New functions:Mobile versionGamification systemAdditional services for providers (promo and others)Integration with jooble.com System trayExtras for salesRequests overviewVISA/Amex paymentMedia Library
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Our Target: Technical Releases
Pavel, CEO
Our Team
The Captain and the ideologist of the project. Master of Project Management on the international level. Effectively manages the project resources, supports any design ideas, and stresses on timely deadlines Has experience of successfully launching online and offline international projects
Roman, CTOThe heart and soul of the team. A master communications chief and the technical brain of the project, transforming ideas into results. If you can describe an idea, Roman can create it. He has a degree in economics and information technologies, and excellent management experience in the development of the world's leading companies
Konstantin, partnerThe engine of the development team. Under his successful leadership, web designers and developers created and improved our platform.Has a degree in economics and computer science. Possesses valuable management experience and successfully developed IT-companies
Elena, CMOThe strategist of the project who seeks and finds efficient opportunities to make our project more convenient for the users and more profitable for the owners.Possesses a degree in economics and has over 10 years of marketing experience with IT-companies.
Konstantin, development managerThe project analyst. Has the constant knowledge of the company updates. Creates and improves our platforms’ tools, making them interesting and user friendly. Has a technical background and experience in many areas of IT companies
Alex, advertising managerThe master of promotional campaigns. Manages the advertising efforts and successfully works with partners. Generates ideas for new ways to attract users.Has a degree in Business Administration from Rider University, in the US. Marketing experience with national companies.
Platform Design
Advertising Design
Frontend
Technology StackBackend
External Services
jQuery Yii 1.1.16 Node.js Redis
Beanstalkd Composer Nginx
MySQL 5.5jQuery UI
Less Grunt
Project Support Infrastructure
Oracle VMVirtualBox Vagrant
Confluence GitLab CI
Git JIRAYii framework implements MVC pattern for frontend-backend interactionsHeavy jobs are pushed to beanstalkd for asynchronous processing (e.g. service requests)Database access through business case specific modelsGrunt is used to compress css, js etc.Redis is used for fast access to objects which are frequently used and shared by usersNginx is used as a web server
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Vagrant JIRA
Customer acquires the service through platform(from a vendor who only accepts PayPal)
Customer acquires the service through platform(from vendor who requires the payments directly in cash)
Payment Processes
Platform reserves the payment at customers PayPal account
PayPal direct or through credit card(when the service is received and accepted by the client)
Workheroes.commarketplace
PayPal vendor account
Platform checks thecredit card validity
Direct payment
Service provider (service vendor)
Payment amount is set by the vendor (cash)
Direct payment to the vendor in cash when the service is delivered
and accepted by the customer
Corporate Set-up
Attracted investments (2013):Capital: 500 000 EUR
Legal advisorREZNICK LAW, PLLCNew York
AuditorsRozel & Haykin CPA PCBrooklyn
Company:RITTER DIGITAL SOLUTIONS, INC.Registered: 29.01.2013
Address:2502 86th Street, 3rd FloorBrooklyn, NY 11214USA
Bank account:Bank: Apple BankAccount: 7010007578
Tax ID:331-22-7236
Contact information
Confidentiality ClauseThe information included in this presentation is strictly confidential and is provided on the understanding that it will not be disclosed to third parties without the expressed written consent of RITTER DIGITAL SOLUTIONS, INC.
Pavel DruzhkovPresident
RITTER DIGITAL SOLUTIONS, INC.2502 86th Street, 3rd Floor
Brooklyn, NY 11214
USA
E-Mail: [email protected]
USA: +1 (914) 310-93-02
Germany: +49 (176) 890-050-43
Russia: +7 (909) 629-63-44
Fax: +49 (3212) 107-68-71
Web: www.ritter-re.com