parktxt presentation
TRANSCRIPT
Jamie MillerPatrick Larkin Darren Trainor
Director Team
Seán Trainor Aidan ClarkeSeán O’ Hanlon
Who are we?• 6 members • Queen’s University Belfast• BSc Business Information Technology• Y.O.P.E. - Sandwich Course
What is Parktxt?
“Our mission at PARKTxT is as unique as it is simple; we want to provide a text service tocustomers to ensure they are aware of excessive car parking charges, whilst giving themthe opportunity to save some money. We will not turn into a premium text service,attempting to take advantage of our customers; instead we will provide clear informationat a sensible price, always remaining within the control of our customers.”
Description
Mission Statement
How much they have currently spent.
How long they have currently spent in the car park.
How long until their next tariff kicks in.
PARKTxT provides a text service that will allow car park customers to check:
Retailers in the locality will also be able to provide up-to-date, targeted marketing to PARKTxT customers while taking advantage of valuable data mining.
The Problem
Park in a car park
+
Go shopping
Eating
Cinema
=
How Long in minutes??.. & Car Park Fees?? ..
+
+
How does the service work?
Customer collects ticket from machine
Step 1
Customer Texts PARKTxT
Step 2
87275 = 8PARK
PARKTxT Confirmation Text
Step 3
Hourly update message sent to customer
Step 4
Marketing Strategy
We intend to allocate 25% of our predicted year one revenue to marketing and sales which is a distinct increase on the industry average of 5%
Local Press – Belfast Telegraph, Irish News, Industry magazines etc.
Local Radio – Citybeat, Cool FM, U105
Adshels
48 Sheets (Billboards)
Bus Externals
We have decided to advertise through the following methods based on our research :
You may have seen some of our advertising already in:
The Gown Magazine
SU Magazine
South Belfast News
Ulster Business
You will be alerted 15 minutes before every milestone, hence allowing you to return to your car and exit the car park before being caught unnecessarily by the next tariff.
Stay for 59 minutes = £2.70
Stay for 1 Hour 1minutes = £5.30
Daily tariffs PriceDifference Between
Tariffs
1 Hour £2.70
£2.60
1 - 2 Hours £5.30
Figures from NCP – Montgomery Street Belfast
Benefits - Customer
Benefits - Customer
You will know exactly how much you pay at the pay point machinei.e. you will have enough change
You will receive special offers from local businesses tailored to your interests
Benefits - Customer
Register Online
Cafes / RestaurantsChildren’s WearElectrical, Music & Mobile PhonesFashion - General Food StoresFootwearGifts, Cards, Stationery & BooksHealth & BeautyJewellery Sport
Q) What type of outlets do you wish to receive updates on?
Return customers can register online and choose what shops interest you.
From this information we can then break down demographics of our users and then send them specific advertising messages.
Benefits – Car Park
Increased turnover over of spaces. Most money is made in the earlier tariffs.
Daily tariffs PriceDifference Between
Tariffs
1 Hour £2.70£2.60
1 - 2 Hours £5.30£2.50
2 - 3 Hours £7.80£2.30
3 - 4 Hours £10.10
Advertising via text message may result in customer staying longer within the car parkas they may wish to avail of a sale or discount within a local store.
Benefits – Car ParkCustomer goodwill initiative – increased business due to offering customers
access to new innovative technology
“Anything new or innovative in the car-park industry attracts extra custom.”Jim Neeson CEO, CITYPARK
Data Mining
Car Park providers will be able to build a profileon their customers. At present car park ownersdon’t know who there customers are or why theychoose to use certain car-parks in preference ofothers.
What is needed to build the system?
Visual Programming
1. Microsoft Visual Studio 20052. Java
Database server
1. Microsoft SQL server2. My SQL3. Microsoft Access
GSM Modem
1. Mobile phone handset that supports AT commands
2. Multi-Tech Multi Modem
Technical Details
Visual Programming language
Back end database server
GSM Modem for sending and receiving text messages
“Rusty Brick” iPhone Parking Meter
iPhone App that displays how long the user has to top up their parking meter, alerted via sms or e-mail.
Essentially a “glorified” countdown timer.
iPhone exclusive
96.8 Billion text messages sent in the UK last year - Huge market potential
Competitor 1
“Easy Trip” Tag
Competitor 2
Customer sets up an account with Easytrip
Easytrip “tag” is installed on the windscreen
Integrates all parking, toll and security charges into one account, deducted automatically via electronic means.
Credit or debit card required to set up an account.
Minimum charge of €36 to make use of the service.
NCP “Gateway” Service
Competitor 3
Allows customers to text and find the nearest car-parks and generate reports on car-park expenditure
Aimed at most companies, local authorities and government bodies
Integrates services rather than saving money – Turnover of Spaces
Does not support traditional methods of payment
Currently only available in 90 NCP Car-Parks
Competitive Matrix
Factor
PARKTxT
Service NCP Gateway Easytrip Tag iPhone Parking Meter
Low Cost ✔ X X ✔
Registration Required? X ✔ ✔ X
Accessibility of Service ✔ X X X
Brand Recognition X ✔ ✔ X
Traditional Methods of Payment? ✔ X X X
Room for Diversification ✔ X ✔ X
Price Transparency ✔ X X ✔
Company Formation
Trademarks
Copyright
Legal – Formation & IP
PARKTxT will be formed as a Ltd Company
Legal entity separate from the owners
Limited Liability
Automatic right protecting all original work
Database Structure
Software Code
Distinguishable name and logo
PARKTxT is currently available via Trademark Search UK
Domain Names secured.
Legal - Legislation
Data Protection Act 1998
Health and Safety
Insurance
Open Source Code
Text Fraud / Implications
External Finance
Personal investment of £2,000 from each of the six directors.
A further £1,300 from each director’s assorted friends and families, therefore presenting approximately £20,000 of initial monies.
There are a number of investment opportunities for new businesses in Northern Ireland. We intend to fund the start-up of PARKTxT by:
Overdraft and loan borrowing up to £30,000 for new businesses
Fee free Visa business credit card for one year
We chose Bank of Ireland as they offer associations with organisations such as
PeninsulaBig Red Book
Agnew Corporate
ChoobooBT
Funding Partners
Finance
PARKTxT operates by generating revenue in a relatively unique way.
As such, no suitable companies to compare with.
Sales forecast therefore based on a series of conservative estimates taken from our market research.
Calculating SalesPARKTxT will launch at two
sites, with 596, and 472 spaces – a total of around 1000 spaces.
These spaces are used on average 45 times a Week, with the average customer staying for 3 chargeable hours.
This gives a total of 45000 space uses per week.
From our preliminary research:
Car Park Operators, taking into consideration peak periods, and users paying a set lease per month, estimate a 40% occupancy percentage on average.
Based on survey results, PARKTxT conservatively predicts a 20% service usage during Year One.
One usage equates to 3 Texts, or 45p revenue for PARKTxT.
Predicted Growth (3 Year Forecast)
The Future
Malcolm Barclay – London Underground ‘Tube Deluxe’
i-PARKTxT
Future Products
ParkSafe
Park in your pocket
Number of Car Parks per city
Closest / Cheapest Car Park
Number of spaces available
Congestion charges
Link with PSNI to alert for stolen car registration
Link to PSNI to alert for a fake registration plate
The Future ?
The Future ?
Product Launch - Belfast May 2010
Product Launch
Our main customers are NCP, Q Park, Castle Court (Westfield) and City Parks who will employ our system.
We have had talks with all these companies and they are extremely keen to use our product.
PartnershipAPS - Advanced Parking SolutionIntertraffic 3-Day Conference in Holland23rd - 26th March 2010Meeting with the Head of Skidata Europe
Direct InvestmentMr Denis Murphy Chairman & CEO at AnaekoSold Apion (Openwave) in 1999 for $250 millionInterested in launching our product across Anaeko’s multi-operator service in Canada
Route to Market
Follow Us
www.parktxt.co.ukwww.parktxt.com
Website:
Social Networking:
E-mail:[email protected]
07913239433
Direct:
Thank you