infinity nyu final presentation

Infinity Team Startup Idea

• A smartphone APP that makes it easy to buy and sell electrical and plumbing home services and allows for useful ratings and rankings of buyers and sellers.

Group: InfinityRadhika SharmaSvetlana Ushakova

Interviews day 5: 8 (5 electricians, 3 plumbers)Total # of Interviews: 55

- Service providers (nanny, tutor, handyman, poolboy)

Key Activities - partnership with reliable service providers- build and maintain website/mobile app

Key ResourcesOnline customer care center (outsourced at the beginning)

Value Proposition

- essential services made easily and quickly accessible through one mobile app which allows for useful ratings and rankings of buyers and sellers

Customer Relationships

-Trustworthy relationship that will reassure customers that we will take care of their business and resolve any possible tensions between customer and service provider

Online & Social MediaRadio adsSubway stickersWord-of-mouth

Channels

Customer Segments

-Homeowners-Renters-Parents

Revenue- the platform provides easy access to services and guarantees yourmoney back in case the service wasn’t provided by service supplier- for introductory to service supplier / service consumer- Percentage from service charge – that is made through the platform- 18% service fee on each task

Cost Structure- Technology (service / APP) development- Legal services- Marketing- Insurance


Business Model Canvas – day

1

Initial hypothesis:Both home owners and renters need all kind of home services and it’s

always difficult to find a service provider at reasonable rate

Hypothesis: Home owners search home care services preferably via Smartphone app or Web.

Results: Home owner prefers to get a service provider through family

and friends for most planned home

improvement work.

Business Model Canvas - day

2

Key Partners- serviceproviders like nanny, tutor, handyman, poolboy

Plumbers, electricians

Key Activities- partnership with reliable service providers- build and maintain website/mobile app



Value Proposition

- essential services made easily and quickly accessible through one mobile app which allows for useful ratings and rankings of buyers and sellers

- Plumbing and electrician services made easily and quickly accessible through one mobile app which allows for useful ratings and rankings of `service `providers

- Easy to find a local service providers

- Consumer has choice of prices by looking at bids by service providers

- Service providers can bid for services according to their schedule

- `new platoform to find client


- Trustworthy relationship that will reassure customers that we will take care of their business and resolve any possible tensions between customer and service provider

Channels- Online & Social Media- Radio ads- Subway stickers- Word-of-mouth

Smart phone App, Website

Customer Segments

- Homeowners- Renters- Parents Homeowners with responsibility of maintaining their own property


Revenue - the platform provides easy access to services and guarantees yourmoney back in case the service wasn’t provided by service supplier - for introductory to service supplier / service consumer - Percentage from service charge – that is made through the platform18% service fee on each task




3

Key Partners Key Activities

- partnership with reliable service providers- build and maintain

website/mobile app- Provide 24x7 customer

support


Technology development/maintenance staff/assets


Value Proposition



- Online & Social Media- Radio ads- Subway stickers- Word-of-mouth



Customer Segments

Revenue - the platform provides easy access to services and guarantees yourmoney back in case the service wasn’t provided by service supplier - for introductory to service supplier / service consumer - Percentage from service charge – that is made through the platform18% service fee on each task



- Service providers can bid for services according to their schedule/location

- New platoform to find client

Plumbing and electrician services made easily and quickly accessible through one mobile app which allows for useful ratings and rankings of service providers

Easy to find a local service providersConsumer has choice of prices by looking at bids by service providers

Customer care center


Homeowners with responsibility of maintaining their own proper



Provide new businesss/revenue



4




support




Value Proposition



- Online & Social Media- Radio ads- Subway stickers- Word-of-mouth



Customer Segments

Revenue - the platform provides easy access to services and guarantees yourmoney back in case the service wasn’t provided by service supplier - for introductory to service supplier / service consumer - Percentage from service charge – that is made through the platform18% service fee on each task - Free App - Monthly subscription fee for Service Providers



- Service providers can bid for Service estimation fee according to their schedule/location

- New platoform to find client- Service Provider gets notified

every time there is job posting to react according to their schedule


Easy to find local service providers who are available for the job without spending time on calling multiple peopleConsumer has choice of prices by looking at bids by service providers








Day 2-4 Learning

1. Most renters call their apt society to get things fixed around the house/apartment, so they are not in our consumer segment

2. Service Providers are the ones who will pay us, so we need to concentrate on their behavior of how do they get new business

3. Home owners don’t want to waste their time on calling service providers who are not available for the job.

4. For most jobs, it’s not possible to estimate the price of job before hand, Service providers can’t really bid based on 2 liner problem description posted by Home Owner.

5. A lot of service providers will prefer to get a pop up notification of posted job right away at cost of monthly subscription fee.

6. Bidding can only be possible for Estimation Fee.


5




support

- Acquire plumbers & electricians online

- Run background check of service suppliers




Value Proposition




Customer Segments

Revenue - the platform provides easy access to services and guarantees yourmoney back in case the service wasn’t provided by service supplier - for introductory to service supplier / service consumer - Percentage from service charge – that is made through the platform18% service fee on each task - Free App - Monthly subscription fee for Service Providers

Cost Structure- Technology (service / APP) development- Legal services - Marketing for acquisition and retention of service users & suppliers- Background check of service suppliers - Insurance


- Service providers can bid for Service estimation fee according to their schedule/location

- New platoform to find client- Service Provider gets notified

every time there is job posting to react according to their schedule


Easy to find local service providers who are available for the job without spending time on calling multiple peopleConsumer has choice of prices by looking at bids by service providers



Homeowners with responsibility of maintaining their own property





Background check agency

Background check agency

- Online & Social Media- TV/Radio ads- Subway stickers- Word-of-mouth- Ad Words - Free trial for service

providers - Online & Social Media- TV/Radio ads- Subway stickers- Word-of-mouth- Ad Words

Here is what we learnt

• Home owners prefer somebody reliable and available according to their schedule.

• Not everybody is looking to find a service provider online

• Not every service provider is looking for a job

• Only some service providers who are looking for job are looking on internet.

Here is where we ended

• Much narrower categories of service providers• Much narrower segment of service providers

(actively looking for job on internet)• Much narrower segment of consumers (Home

Owner who need a electrician or plumbing service urgently)

Here is what we are going to do next

Hypothesis Experiment Pass/Fail Criteria

Get Strategy – We have a large enough Service Provider segment who looks for job online

Post an ad on google and facebook for 1 day to find service providers and see if it really gets hit

Pass, if at least 10 people click it in 24 hours window

Get Strategy – Our early adapters are home owners looking for job done urgently and look for service provider on internet.

Post an ad on google and facebook for 1 day asking urgent need of plumber/electrician.

Pass, if at least 10 people click it in 24 hours window

o Develop a MVP, an internet animation demonstrating how the App will work.

o Proceed testing the actuality of the problem both on consumers and service providers sides.

o Crowdsourcing after MVP development.

App Launch first in couple of states and later scale nationwide

infinity nyu final presentation

Education

service wasnt

service fee

service charge

service providers nanny

service provider throughfamily

kind of home services

providers easy

reliableservice providers