Cargo

Transcript

1. Business Plan Cargo
2. Table of Contents Company Overview Cargo Market Opportunity Product Overview Commercial Strategy
3. Company Overview Cargo is an events management platform designed to make it super simple to oragnise & pay for social occasions. With embedded finance functionality, our platform will permit customers to plan events, organise people and simplify receiving & making payments related to that event. Leaders will no longer need to use their personal finance facilities to manage event money. Cargo
4. Our Mission Remove the stress from event planning and simplify financial processes for those arranging the perfect occasion. Cargo
5. Market Opportunity In modern times more flexible working hours, increasing paid annual leave & the relative levels of disposable income we posses has driven a desire to 'do more'. Why? We've got more time to spend with our mates. In 2019 the average UK resident spent £1222 on social activities with their friends. The advent & adoption of social media especially has fueled this desire to do more... 'look at me & my friends & how much fun we have' However, organising those activities - that's a different story. Group leaders fall under massive pressure when pulling the event together. There's pressure to organise the group, gather key personal information, pass on details, collect payments, chase payments & make payments with their own personal banking products. 6 days On average event organisers spend 6 days planning an event. This included making arrangements for travel / accommodation, sending messages, organising finances & making payments. 23% Of event organisers said that slow or no response from attendees about attendance or payments stopped the event going ahead. Cargo £371.42 On average, 15% of event organisers in the UK found themselves out of pocket by the end of the trip - in part caused by barriers to payment. Due to these factors, it's estimated 25% of group activities Fail to go ahead. Who would be an organiser?
6. What are groups leaving on the table? The challenges presented to those organsing social events lead to 'plans that never happen'. Aside from the obvious frustration felt by those in the group / group leader, there is a commercial impact to all the vendors in the prospective 'event' supply chain Business's lose out on 00's of £'s in potential revenue, simply because organsing an event was too difficult. It's clear to us that the market is crying out for a solution. 26% of Planned hotel bookings Fail because the responsibility of paying for the hotel fell on one person, often having to front up the cash initially. Cargo 30% of Planned Package Holidays Fail because nobody in the group wanted to take charge, citing the issues with organising large groups and getting people to pay up as major blockers The price of poor organisation Avg. rev Per Person lost - £230 Avg. Rev Per Person lost - £599 21% of Planned sporting event trips Fail because it was too much hassle to get answers out of people. Given the tight deadlines in place to successfully buy tickets, leaders need answers fast. Avg. rev Per Person lost - £56
7. What do organisers need? 54% of group organisers say that being able to manage groups digitally would help resolve issues Over half of group leaders say that attendees having the ability to track balances & make payments would simplify the process. Management Self-Service Payments 67% of organisers become frustrated about having to use their own accounts to receive & make payments. So how can we make life easier for those who step up to take on the task of organising a group event? Cargo
8. Market oPPORTUNITY Cargo The scope for the Cargo platform is huge... Other School / university friends Pa's / Colleagues Hobby groups / sports clubs Other groups of friends Family / extended family specific places (coffee/bars) House / flat mates Avg. Group Size - 8 Avg. Group Size - 6 Avg. Group Size - 13 Avg. Group Size - 10 Avg. Group Size - 8 Avg. Group Size - 5 Avg. Group Size - 4 Stags & Hens Avg. Group Size - 14
9. aND hERE'S THE THING... Cargo 65% OF MILLENIALS WOULD LIKE TO DO MORE WITH THEIR SOCIAL CIRCLE The desire to do more is there... currently there are too many barriers.
10. Invite attendees Create an event Open your event account Start making payments Let's Go Input important details & dates. A unique invite ID with the leader in full control over who's in Gain full access to Cargo's finance capabilities Pay for meals, excursions, flights or accommodation. Simple hOW IT WORKS Cargo
11. Key Features & Benefits Organisers will own a wallet with account details specific to their individual event. Send push notifications / communications with important information & key dates Independent Finances Easy Communication Save Time No more spreadsheets! Manage attendees, keep track of money in & out and save time. We've designed Cargo so it fits into an intuitive application that is easy to use. We'll offer an end to end solution that can receive funds, hold balances & make payments - as well as easily manage attendee details. Cargo
12. The Product Cargo
13. Banking As A service Our initial proposal is for Cargo to utilise a turnkey solution from a 3rd party, specialist provider to support the platforms capabilities. FCA capital requirements & regulatory licensing rules place an initial barrier between Cargo & our MVP launch. By using an experienced provider of embedded banking products, we can minimise the time it takes to go to market - with a long term vision of in-housing all financial operations & taking complete ownership of the customer's experience. Users will have everything need to collect payments, hold the balance securely & make payments. Long term we'll also be able to offer loyalty points scheme to encourage repeat usage. Accounts Wallets Debit/Prepiad & Virtual Cards Send & Receive Payments Cargo Rewards* Comes As Standard *Long Term Ambition
14. Embedded Finance Overview Wallets & Accounts Physical / Virtual Cards Send & Receive Payments We'll assemble a complete set of banking & wallet components configured to look & feel like a conventional bank account. Users will be able to interact with the account, check transaction history & monitor the balance like they would within a standard banking app. Using a personal debit card to make payments can be frustrating & off putting. Instead, we'll provide a card (linked to the event account) that will be specifically purposed to use for the event. Open banking has revitalised the UK financial market - it's never been easier to safely transfer funds from one institution to another. By implementing a simple API, users can seamlessly make payments as and when required. Cargo
15. Communication Group leaders surveyed firmly explained that, after issues around making payments, the hassle of organising people / getting a response was the second biggest hindrance organsing a group event. Messages like this are all too common for organisers > Organisers are trying to spin so many plates, the last thing they need is having to constantly repeat messages that include payment dates, trip details & important. This information is often lost in 'group chat black holes'. Attendees' want to enjoy the build up to an event - these group chats are fun but fast paced. Cargo will provide leaders with the tools they need to send clear & concise messaging out without fear of that communication being missed. It'll save time for organiser & attendee alike. Leaders will be able to send individual payment links out to specific guests, so people will know exactly where they stand. Cargo
16. Financial Regulation To launch a proposition of this nature, Cargo (or a partner who's technology underpins the offering) must adhere to the regulations laid down by the UK's FCA and be an approved Electronic Money Instituion (EMI). Working with a partner that already holds approved status allows us to immediately utilise the Fast Payment Scheme - further improving CX. Likewise, working with an established partner will permit Cargo to tap into existing relationships with card issuers / providers, maximising Cargo's USP. Ultimately, progressing with a white-label approach for Cargo's business will prove more cost & time effective - reducing the amount of resource required to launch. Cargo
17. Commericial Strategy & Growth Cargo
18. Monetization Strategy Pay Per Trip Partnerships % Of Deposit Every time a user opens a new event in Cargo, they will be charged a fix fee to gain access to their event specific account. We'll build a marketplace where vendors in key locations can promote their services & offers - taking a commission from every sale. Cargo will take a small % fee of every deposit made by event attendees. Cargo Additionally: Travel Insurance, Credit Facility, B2B Data Offering
19. Viral Growth Strategy MVP Phase MMP Phase Cargo's growth strategy will focus on referral & Word of Mouth at launch. When we're happy with the product, seeding it with 50 carefully selected groups will encourage adoption widely. We'll use a 'Golden Ticket' strategy at launch to create scarcity & drive a lead generation activity. 'The first 50 events opened through Cargo will have the chance to win a kitty of £2500'. Closed alpha testing - maximum of 5 events. Open beta testing - maximum 50 events. During this phase Cargo will offer incentives to increase Brand Awareness; 'The trip that generates the most engagement using the hashtag 'LetsGoCargo' will win a kitty of x' Once the initial launch is over, Cargo will operate on sign up / waiting list basis whilst product improvements are made. Taking inspiration from some of the UK's most successful FinTech start ups, Cargo
20. Growth forecast Cargo Month 6 Year 1 Year 2 New Events - 63 New Users - 700 Deposit Value - £55K Gross Revenue - £1K Total Events - 5K Total Users - 48K Deposit Value - £955K Gross Revenue - £20K Total Events - 160K Total Users - 275K Deposit Value - £955K Gross Revenue - £320K
21. Competitors Last night of freedom are an event planning organisation that specialise in organising UK stag & hen dos. They provide customers with a dedicated events planner & have payment link functionality - crucially giving leaders the tools they need to send personalised payment links to individual attenees. Cargo 25,000 Stag & hen dos organised since the company launched in 1999.
22. Competitors Cargo woosch is a group payment platform that lets people easily collect money from others, which can prove a nightmare and cause headaches. Somebody could be collecting for a birthday party; stag- or hen-do; buying gifts for a wedding; or anything that involves getting money from a group. A digital kitty to collect & store payments founded in 2017.
23. How it will look Cargo
24. Executive Summary Cargo is an events management platform designed to make organising and paying for group events simple & stress free. The revolutionary platform will give leaders the ability to separate event finances from their own, using embedded banking technology. Cargo will give customers a dedicated bank account, sort code, e-wallet & debit card so taking and making payments are straightforward, whilst offering maximum transparency over trip financials to both organiser & attendee alike. The Cargo platform will also enable organisers to send notifications & payment links to attendees so they can easily manage event logistics. Cargo's back end will offer a simple to use database / CRM so organisers can quickly and efficiently manage their group, share important details & oversee payments. Cargo will truly give organisers complete control over their event & remove the hassle of personally managing large sums of money. Making payments for flights, accommodation or group meals will no longer involve use of ones personal debit / credit card. Open banking technology means attendees can authorise direct links between their bank & Cargo, making the payment process seamless. There is nothing quite like this for people today. Cargo Cargo is currently in the research phase of development. We have a working prototype and begun conversations with partners who are able to provide the FinTech that will power our offering. We require an investment to build an MVP & launch a small alpha test. 80% 20% App Development Market Research / Product Fit
25. Founder Cargo Hi, I'm Tom James - currently building Cargo. I'm a first time startup founder with close to 10 years of experience in Growth & Brand Marketing for some of the UK's biggest FS & FinTech companies (including GoCompare, RAC & Admiral). I have successfully lead on Go to Market strategies for venture backed start ups & scale ups, most recently boom insurance. I've built teams from scratch & implemented new Growth operated models within established Business units to increase efficiency & drive revenue. Though my core experience is within Growth functions, I've worked closely alongside Finance teams across P&L management + forecasting & colloborated with Product teams on feature ideation & product market fit.
26. Thank You Cargo