Get It Done NOW!

Opportunity Analysis Report

The Basics

Chapter 1: Our idea and our competitors

Get It Done NOW! is an online service that connects ordinary people with people willing to

help them complete everyday tasks. Our service then lets our customers rate the service provided and optionally insures the work

undertaken.

What is our idea all about?

During our opportunity analysis we discovered three competitors:

www.helparoundthehouse.com.auwww.gumtree.com.auwww.itasker.com.au

Who are our competitors?

www.helparoundthehouse.com.au

This is a small but international website that lists 12 helpers near the Perth. Advertising for

helpers is free but contacting helpers costs a subscription fee ranging from $14.99 (one

month) to $44.99 (six months). Alexa.com does not track this website (indicating they do not

receive much traffic).

A little about our competitors…

www.gumtree.com.au

This is perhaps the largest player in the industry. On May 19th, there were 227 ads seeking workers

and 536 ads seeking work related to “housekeeping” in the “Perth region”. There were 71 ads seeking workers and 269 ads

seeking work related to “gardening”. Advertising on this site is free with premium advertisement

options available at a small cost.

A little about our competitors…

www.itasker.com.au

This is perhaps the closest real implementation of our idea. On May 26th, it was listing around 30

jobs and 28 helpers. Unlike most sites, the helpers must register by attending an interview and obtaining police clearance. The site is based

in and focused solely on Perth at the moment.

A little about our competitors…

Unlike www.helparoundthehosue.com.au...We aim to invest heavily in marketing to a

particular sub-section of Perth – thus we aim to a attract critical mass of helpers and hirers.

Compared to our competitors…

Like www.gumtree.com.au...

We aim to offer a very competitive price structure that makes it easy for customers to

engage with us.

Unlike www.gumtree.com.au...Our service will be specifically focused on home-

help services.

Compared to our competitors…

Like www.itasker.com.au...

We aim to offer our customers peace of mind when engaging helpers from us.

Unlike www.itasker.com.au...Our service will not require a face-to-face

interview to become a helper.

Compared to our competitors…

On Revenue

Chapter 2: How we make our money

Our revenue streams…

Helper subscriptionfee

Police check fee

Insurance fee

Credit card transaction fee

Interest on surety

Site advertising

Our revenue streams…

Helper subscriptions

When someone offers help on our site they pay a monthly/half-annual subscription fee. We may have to

waive this initially to attract helpers.

Our revenue streams…

Police check fee

We will conduct a police clearance on any helper and, if granted, post

confirmation of the clearance online for a fee. This gives the helper’s

hirer peace-of-mind.

Our revenue streams…

Insurance fee

We will optionally indemnify the helper’s hirers against any damage caused by the helper during work

up to a pre-defined thresholds (e.g. $5,000). For this the helper must be

approved and the hirer must pay with credit card. The insurance will add a small amount to the overall

cost of hiring.

Our revenue streams…

Credit Card Transaction Fee

We will accept credit card payments online on behalf of the

helper and then pay the helper that amount. We charge a small

commission (say 2%) for this service.

Our revenue streams…

Interest on surety

When a helper becomes an insured helper we may take a small surety.

We can earn a small amount of interest on this surety.

Our revenue streams…

Site advertising

When someone is surfing our website we may post small ads

using Google Ads or another service.

Our revenue streams…

Helper subscription fee50%

Police check fee100%

Insurance fee100%

We based some of these revenue streams on feedback from our survey – the percentages indicate the percentage of helpers willing to pay such a fee…

Commission on transactions

25%

Used by us

Not used by us

Our Market

Chapter 3: How much money we can make(a.k.a. a market estimate)

There around 8,000 households per suburb in Western

Australia.

According to a survey, 60% use household help or around 4,800 per suburb.

Google AdWords’ keyword tool suggests around 10,000 queries per month for household help services. If we can

convert 15% of those to sales (similar to eBay – see reference). We are looking at around 1,500 transactions

per month per suburb.

Market estimate

[1] http://www.grokdotcom.com/2008/09/22/top-10-online-retailers-by-conversion-rate-august-2008/

Rather than try to estimate how many helpers and exact revenue amounts – if we can convert just $1 from every

transaction to revenue we are looking at $1,500 per month per suburb – even more if you consider police

checks and insurance.

For the 250 suburbs in Perth that equates to $370,000 per month or $4.4 million per year – this is a lofty target and

we’d need to be very efficient to reach it but it is a reasonable market estimate.

Market estimate

In addition to this work we have also completed a survey to test our idea. This is available at:

http://www.slideshare.net/cedarsx/survey-results-12993557

Further details