LetsSplit Pitch Deck - Team Jellyfish
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For the Appendices deck please click here: http://slidesha.re/letssplit_appendices. 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!
Transcript of LetsSplit Pitch Deck - Team Jellyfish
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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
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The marketplace
No Group Bookings Expedia
Self-‐Serve Group
Bookings?
Manual Group Booking STA
Travel Republic Thompson
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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
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The opportunity Based 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.
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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
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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.
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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
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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
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The Mechanics Mechanic Structure: Modular architectural approach – allows diversi3ication into other industries for group payments
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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
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The Branding / website
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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
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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
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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
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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
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P&L Forecast
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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
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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
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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.
