coopify feasbility study
TRANSCRIPT
Feasibility Study
OutlineIntroduction- Overall goals- Background
What We Did- Issues we explored- Methodology/approach
What We FoundWhat Comes Next- Critical Questions- Next Steps
Introduction
Overall Goals- Collective Marketing for Home Services- Benefit from Economies of Scale/automation- Maximize worker benefit
Background
What We Did
Platform Income+
Collective Benefits
Growth / Scale
Workforce Development
New Coops
Client Request
Coop Selection
Automatic message to
Member
For the Platform to Work
How Other Objectives Could Fit In
Issues we Explored
Platform Income+
Collective Benefits
Workforce Development
Growth / Scale
Client Request
Coop Selection
Automatic message to
Member
Best UX?Why this service?
Legal Structure to allow?
New Coops
Governance & Ownership
Speed & Method
Coops’ Tech Comfort
From where & Volume
Methodology & Approach
Back Office
Managers
Cooperative
Member Focus Group
CFL Supervis
orsCooperati
ve Developer
sCooperative Platform Developm
ent
Legal Team
Client Focus Group
Development
Consultant
Web Developer Consultant
Graphic Developer Consultant
Robin Hood
Cooperative
Platform Developer
Back Office
Managers
Cooperative
Member Focus Group
CFL Supervis
orsCooperati
ve Developer
sCooperative Platform Developm
ent
Legal Team
Client Focus Group
Development
Consultant
Web Developer Consultant
Graphic Developer Consultant
Robin Hood
Cooperative
Platform Developer
Media
MIT
Coop Community
Loconomics
Other platform
s
Overview : Coop meetings & interviews
- 5 coop working group sessions, average 8 participants
- Topics covered: Comfort with tech, governance, quality control, and management
Overview : Client Focus groups
- 2 Client Focus groups- Explored value proposition +
brand associations, conducted live walk-throughs
What We Found
Platform Income+
Collective Benefits
Workforce Development
Growth / Scale
Client Request
Coop Selection
Automatic message to
Member
New CoopsSpeedier
development
No desire for profiles
when booking
Workers not
wanting to compete
Workers wary of new tech
Requires Scale
Link to coops
Platform Income
Growth / Scale
Generation of New Coops
Coop 1
Monthly Inter-coop Meetings
Collective Benefits
Coop 2
Coop 3
CFL Coordinatio
n
Automatic Service Selection
Central back office to assign manually
Client Service Request
Raises potential
for:
Current financial projections show that with a “best case” assumption of 125 coop members and $1.9M in revenue, the platform could potentially cover its costs in Year One.
As an example, in Year One, these 125 cooperative members could see their annual income increase by $14,260, as they can expect to work an additional 13.71 hours per week.
In following years, the platform would require considerable scaling in order for it to carry maintenance and operation costs autonomously.
Financial Projections
What Comes Next
Critical Questions
Growth / Scale
Marketplace or Single Brand?Si
ngle
Bra
nd
Mar
ketp
lace
Uber / Handy styleNo cooperative name selectionSingle PriceInternal Reviews + Quality Assurance
Yelp / Angie’s list StyleCoops listed for clients to selectCoops each have own priceExternal Reviews (stars, etc.)
PROSFaster to scale
PROSSimpler to set up
CONSHarder to set up
CONSCoops competing with each other
How best to Scale?Financial viability and growth targets both demand that the platform be connected to sufficient supply of workers whose job conditions align with platform values. - Scaling cooperatives alongside the platform
- Pressure on sector to grow quickly and sustainably over five years
Potential solutionsReplication through cooperative social franchising or fertilization;
Later unite cooperatives into federations through local or sectoral governance structures
We are exploring how coops relationship to the platform and in governance structures affect : - Buy-in in the early stages
- Long term loyalty
- Competitive advantage and purpose in the market
Potential solutionsMulti-stakeholder user groups
Ownership & Representation
Service Experience, Customer Acquisition and Premium Market
PlacementThe platform’s brand and experience connects excellence and ethics.
The next phase will integrate service experience design, iterative technical development and market research.
This will ensure the project has clear market fit, a plan for customer acquisition grounded in tested hypotheses, and a service experience that builds a strong association between cooperatives and a premium customer service experience. This will provide a solid foundation to enter new urban markets in future phases.
Next Steps
Service Experience, Customer Acquisition and Premium Market
PlacementService experience (SX) design: Cooperatives as ‘premium service providers.’ Reflected in all aspects of SX / User Experience (UX). Elegant, frictionless.
Iterative technical development: Increase value to customer / members over time. Launch new features. Validate value w/ analytics, tests. Listen, adjust.
Market research: Test content, branding, lead generation approaches w/ key customer segments. Identify primary channel(s) for customer acquisition. Refine user personas for critical customer segments. Amplify marketing.
Scale: Support multiple service types, multiple geographies, multiple coops. SX incentives for referrals / testimonials / social shares. Partnerships.
Month 1
Platform Income
Automatic Service Selection
Central back office to assign manually
Monthly Inter-coop Meetings
CFL Coordinatio
n
Client Service Request
Tech & Marketing
Coop Buy In/ Scale
Platform Structure
Back office
Coop 1
Coop 2
Coop 3
Platform Income
Automatic Service Selectio
n
Central back office to assign manually
Monthly Inter-coop Meetings
CFL Coordinatio
n
Client Service Request
(Existing Groups)
Selection of
Coops
Text-based assignment
Month 3
Client re-booking
Client Ratings
Tech & Marketing
Coop Buy In/ Scale
Platform Structure
Back office
Coop 1
Coop 2
Coop 3
Platform Income
Automatic Service Selectio
n
Client Service Request
(Existing Groups)
Selection of
Coops
Algorithm Assigns
Central back office monitors
Text-based assignment
Coop Governance
Client Ratings
Client re-booking
Monitor Supply + Demand
CFL Advisory
Month 6
Tech & Marketing
Coop Buy In/ Scale
Platform Structure
Back office
Coop 1
Coop 2
Coop 3
Real World PictureThank you