Xoom park bmc_international_new_sp [autosaved]
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Transcript of Xoom park bmc_international_new_sp [autosaved]
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Genesis of the Idea
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Business Model Canvas
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Assumption of Customer PainPeople were even more
frustrated with parking at big
events.
Parking is a pain! People want a
guaranteed parking spot.
People DO want a guaranteed spot & would
reserve online.
200+ customers Bigger Pain
PIVOT!
80% positive response
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Business Model Canvas
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Assumption of Customer PainPeople were even more
frustrated with parking at big
events.
Parking is a pain! People want a
guaranteed parking spot.
People DO want a guaranteed spot & would
reserve online.
200+ customers Bigger Pain
People will pay extra to have a
great, guaranteed parking spot.
People will not only pay more,
they will pay a lot more! ($9+)
Validated!
Surveyed 75+ Customers
PIVOT!
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Business Model Canvas
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Customer Survey/Validation
• How much more would you be willing to pay to have a guaranteed close parking spot in the arena's lot or near the arena?– On average- $9.33– Max of $27.00
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Assumption of PainPeople were even more
frustrated with parking at big
events.
Parking is a pain! People want a
guaranteed parking spot.
People DO want a guaranteed spot & would
reserve online.
200+ customers Bigger Pain
People will pay extra to have a
great, guaranteed parking spot.
People will not only pay more,
they will pay a lot more! ($9+)
Validated!
Surveyed 75+ Customers
People who have extra spaces will post spots and make money.
It is difficult to get a mass number of
people to post enough parking
spots.
We needed to find a new solution.
30+ People
PIVOT!
PIVOT!
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Expert Validation
• Tom Lombardi and Greg Bessoni– Online parking reservation experts
Partnered with me and
put up capital.
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Business Model Canvas
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New AssumptionsParking lots will
post spots online so that people
can reserve them.
Yes! Lots have been looking for ways to increase revenue and fill
up lots.
30+ Parking Lots Bigger Pain
Electronic payments in
advance through an online
reservation system.
Validated!
30+ Parking Lots
20% of cash goes missing.
Loved it! Would pay about 15% of
posted price.
75% positive response
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Industry Validation
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Business Model Canvas
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Business Model Canvas
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MVP ValidationEasier ways to post parking &
track reservations.
Started with a very basic
reservation system.
All Pro Parking (30 lots)
30+ person focus group Search process
was too hard. Wanted mobile
site as well.
Fixed search, cleaned up site,
mobile site in the works.
Made it even easier to post
and track parking.
All Pro Parking’s
Customers
With no marketing-
50 reservations in just a few
months.
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Business Model Canvas
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Business Model Canvas
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Our Model
$5 Reservation Fee
15% of Price Paid
XoomPark
We estimate being able to collect about $8 per reservation
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Go to Market Strategy & ValidationTalked to Tom
Lombardi, industry expert.
Lots located throughout Florida and in Dallas,TX
Lots located all over West Coast and Texas
Parking lots in all 50 states
Over 250 lots throughout Eastern US.
25+ years experience
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Go to Market Strategy & Validation
Tom and Greg’s Affilate Networks
3,000 Affiliates
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Go to Market Strategy & Validation
Customer’s recommendations
for the future
Focus group of
30+ people
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Market Size
$8.2 Billion USA Parking Industry
$4.5 Billion Parking Facility/Management
$1.4 Billion Event Parking
$240,000 Buffalo and Atlanta
TAMSAMTarget
Market
Apex
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Competitors
Usability
Reliability
Low High
High
Low
Parkwhiz
ParkingCarma
GottaPark
ClickandPark
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Revenue Projections
Year 1 Year 2 Year 3 Year 4$0$2$4$6$8
$10$12$14$16$18$20
Revenue
Revenue in Mil-lions
70% Gross Profit Margin
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• 2 Partners• 30+ Parking lots• 50+ Reservations• Working Website
• Validated Revenue Model