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Xoom park bmc_international_new_sp [autosaved]
Genesis of the Idea
Business Model Canvas
Assumption of Customer Pain
                       200+                                              People were
Parking is a pain!   customers       People DO want      Bigger Pain      even more
 People want a                         a guaranteed                    frustrated with
   guaranteed                          spot & would                     parking at big
  parking spot.                       reserve online.                      events.
                                 80% positive response
Business Model Canvas
Assumption of Customer Pain
                        200+                                              People were
Parking is a pain!    customers     People DO want        Bigger Pain      even more
 People want a                        a guaranteed                      frustrated with
   guaranteed                         spot & would                       parking at big
  parking spot.                      reserve online.                        events.


 People will pay     Surveyed 75+
 extra to have a      Customers      People will not
      great,                         only pay more,
                                    they will pay a lot                   Validated!
   guaranteed
  parking spot.                        more! ($9+)
Business Model Canvas
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




                                                   8
Assumption of Pain
                        200+                                              People were
Parking is a pain!    customers     People DO want        Bigger Pain      even more
 People want a                        a guaranteed                      frustrated with
   guaranteed                         spot & would                       parking at big
  parking spot.                      reserve online.                        events.


 People will pay     Surveyed 75+
 extra to have a      Customers      People will not
      great,                         only pay more,
                                    they will pay a lot                   Validated!
   guaranteed
  parking spot.                        more! ($9+)



                      30+ People     It is difficult to
People who have
                                        get a mass                      We needed to
extra spaces will
                                        number of                        find a new
 post spots and
                                     people to post                       solution.
  make money.
                                     enough parking
                                           spots.
Expert Validation
• Tom Lombardi and Greg Bessoni
  – Online parking reservation experts


     Partnered
    with me and
       put up
       capital.
Business Model Canvas
New Assumptions
                    30+ Parking
Parking lots will      Lots           Yes! Lots have      Bigger Pain
post spots online                    been looking for
 so that people                      ways to increase
  can reserve                        revenue and fill
      them.                              up lots.

                                  75% positive response
                                                                         20% of cash
                                                                        goes missing.


   Electronic       30+ Parking
  payments in          Lots
advance through                      Loved it! Would
   an online                        pay about 15% of                    Validated!
  reservation                         posted price.
    system.
Industry Validation
Business Model Canvas
Business Model Canvas
MVP Validation
                         All Pro
                         Parking                      30+ person
Started with a                      Easier ways to                  Search process
  very basic            (30 lots)                     focus group
                                    post parking &                   was too hard.
 reservation                             track                      Wanted mobile
   system.                           reservations.                    site as well.
                                                        All Pro
                                                       Parking’s
                                                      Customers




         With no
        marketing-                   Made it even                     Fixed search,
      50 reservations                easier to post                 cleaned up site,
       in just a few                   and track                    mobile site in the
         months.                       parking.                          works.
Business Model Canvas
Business Model Canvas
Our Model




                                                     15% of Price
$5 Reservation                                          Paid
     Fee                                              XoomPark


    We estimate being able to collect about $8 per reservation
Go to Market Strategy & Validation
                    25+ years
 Talked to Tom
   Lombardi,       experience
industry expert.



                                Over 250 lots throughout        Lots located all over West
                                      Eastern US.                    Coast and Texas




                                                                  Lots located throughout
                                Parking lots in all 50 states
                                                                  Florida and in Dallas,TX
Go to Market Strategy & Validation



 Tom and Greg’s
Affilate Networks
                               3,000 Affiliates
Go to Market Strategy & Validation


                     Focus
                    group of
                   30+ people
   Customer’s
recommendations
  for the future
Market Size

               $8.2 Billion USA Parking Industry
TAM
SAM                $4.5 Billion Parking
                   Facility/Management

Target
Market            $1.4 Billion Event Parking



Apex              $240,000 Buffalo and
                  Atlanta
Competitors
      High




                   ParkingCarma
                                   ClickandPark
Usability                                GottaPark

                                          Parkwhiz



      Low


             Low                                     High

                           Reliability
Revenue Projections
                               Revenue
           $20
           $18
           $16
           $14
           $12
Revenue in
           $10
 Millions
            $8
            $6
            $4
            $2
            $0
                   Year 1        Year 2      Year 3   Year 4

                            70% Gross Profit Margin
•2 Partners
      •30+ Parking lots
     •50+ Reservations
     •Working Website
•Validated Revenue Model

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Xoom park bmc_international_new_sp [autosaved]

  • 4. Assumption of Customer Pain 200+ People were Parking is a pain! customers People DO want Bigger Pain even more People want a a guaranteed frustrated with guaranteed spot & would parking at big parking spot. reserve online. events. 80% positive response
  • 6. Assumption of Customer Pain 200+ People were Parking is a pain! customers People DO want Bigger Pain even more People want a a guaranteed frustrated with guaranteed spot & would parking at big parking spot. reserve online. events. People will pay Surveyed 75+ extra to have a Customers People will not great, only pay more, they will pay a lot Validated! guaranteed parking spot. more! ($9+)
  • 8. 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 8
  • 9. Assumption of Pain 200+ People were Parking is a pain! customers People DO want Bigger Pain even more People want a a guaranteed frustrated with guaranteed spot & would parking at big parking spot. reserve online. events. People will pay Surveyed 75+ extra to have a Customers People will not great, only pay more, they will pay a lot Validated! guaranteed parking spot. more! ($9+) 30+ People It is difficult to People who have get a mass We needed to extra spaces will number of find a new post spots and people to post solution. make money. enough parking spots.
  • 10. Expert Validation • Tom Lombardi and Greg Bessoni – Online parking reservation experts Partnered with me and put up capital.
  • 12. New Assumptions 30+ Parking Parking lots will Lots Yes! Lots have Bigger Pain post spots online been looking for so that people ways to increase can reserve revenue and fill them. up lots. 75% positive response 20% of cash goes missing. Electronic 30+ Parking payments in Lots advance through Loved it! Would an online pay about 15% of Validated! reservation posted price. system.
  • 16. MVP Validation All Pro Parking 30+ person Started with a Easier ways to Search process very basic (30 lots) focus group post parking & was too hard. reservation track Wanted mobile system. reservations. site as well. All Pro Parking’s Customers With no marketing- Made it even Fixed search, 50 reservations easier to post cleaned up site, in just a few and track mobile site in the months. parking. works.
  • 19. Our Model 15% of Price $5 Reservation Paid Fee XoomPark We estimate being able to collect about $8 per reservation
  • 20. Go to Market Strategy & Validation 25+ years Talked to Tom Lombardi, experience industry expert. Over 250 lots throughout Lots located all over West Eastern US. Coast and Texas Lots located throughout Parking lots in all 50 states Florida and in Dallas,TX
  • 21. Go to Market Strategy & Validation Tom and Greg’s Affilate Networks 3,000 Affiliates
  • 22. Go to Market Strategy & Validation Focus group of 30+ people Customer’s recommendations for the future
  • 23. Market Size $8.2 Billion USA Parking Industry TAM SAM $4.5 Billion Parking Facility/Management Target Market $1.4 Billion Event Parking Apex $240,000 Buffalo and Atlanta
  • 24. Competitors High ParkingCarma ClickandPark Usability GottaPark Parkwhiz Low Low High Reliability
  • 25. Revenue Projections Revenue $20 $18 $16 $14 $12 Revenue in $10 Millions $8 $6 $4 $2 $0 Year 1 Year 2 Year 3 Year 4 70% Gross Profit Margin
  • 26. •2 Partners •30+ Parking lots •50+ Reservations •Working Website •Validated Revenue Model

Editor's Notes

  1. 80% positive response
  2. 75% positive response
  3. 20% response rate