|Current Status||Concept / Business Plan|
|Funding Required||RM300,000 or less|
|Description||PARTY UP is a mobile application to ease the search for places to purchase alcoholic beverages and also the places to hangout in order to enjoy the alcoholic beverages. PARTY UP expects to catch the interest of people in Malaysia who enjoys drinking alcoholic beverages at different places in Malaysia. The business plan is to build a strong online platform where the people in Malaysia can get the information about the places they can go to get the desired alcoholic beverages and also the places they can hangout in order to enjoy their alcoholic beverages.
PARTY UP aims to offer the infomercial services through the mobile application in order to ease up the search for the desired alcoholic beverages and also the places to enjoy the desired alcoholic beverages.
Our product in PARTY UP are the information about the places selling the alcoholic beverages and also the places to enjoy the alcoholic beverages. The information will be given to the user through our user friendly PARTY UP mobile application.
The PARTY UP will serve by providing the price and location to purchase the desired alcoholic beverages. PARTY UP also will provide the location of places such as clubs, bars and pubs in order for the PARTY UP users to enjoy their desired alcoholic beverages.
|Business Opportunity||This platform mainly focused on non-Bumiputeras as our service will be involving non-halal products. Approximately 49.9% of Malaysian are non-Bumiputeras and the total figure of non-Bumiputeras are approximately 15.55 million in Malaysia. In May 2011, the World Health Organisation (WHO) named Malaysia as the world’s 10th largest consumer of alcohol despite its small population and size and large number of Muslims. According to WHO statistics, Malaysians spent over$5000 million on alcohol with a per capita consumption of seven litres.
Since PARTY UP will be focused at Kuala Lumpur and Selangor first, the number of non-Bumiputeras in Kuala Lumpur and Selangor are approximately 3.41 million. So we will have a huge amount of potential users. The huge amount of potential users will provide us the strength to make the liquor shops, clubs, bars and pubs to use our platform to advertise their shops. The higher the number of users, the higher the chances to attract customers to advertise their liquor shops, clubs, bars and pubs.
|Revenue / Business Model||The PARTY UP will be operating based on advertising and informediary model. The PARTY UP will be covering areas at Kuala Lumpur and Selangor first before venturing to other states in Malaysia. The liquor shops, clubs, bars and pubs in Kuala Lumpur and Selangor will be listed in the our PARTY UP mobile application in order for people in Kuala Lumpur and Selangor to search for the desired alcoholic beverages and places to hangout to enjoy their alcoholic beverages.|
|Management Team||Human resources needed to establish a stable online platform. Website and mobile application designer is needed in order to create the core PARTY UP online platform. Marketing Adviser will be needed in order to make our platform to be known by the public in effective ways. Sales Representatives are needed in order to get the customers to advertise their liquor shops, clubs, bars and pubs in our PARTY UP online platform.|
|Company Background||The company is not yet been established due to lack of funding. I have just came up with the proposal and working towards on getting potential investors to start up the business.|
|Funding Milestone||Website and mobile application designing : RM50,000
Website and mobile application maintenance fees : RM2,000
Cost in registering the business : RM500
Cost for registering the website and mobile application : RM3,000
Sales Representative (3) Salary for 5 months : RM22500 (RM1500/person)
Advertising and Marketing of the online platform : RM5,000
Project Manager Salary for 5 months : RM15,000
Other Expenses : RM2,000
TOTAL COST : RM100,000
|% Equity Allocation||20%|
|Risks and Mitigation||1.To get the Liquor Shops, Clubs, Bars and Pubs to use PARTY UP platform to advertise their products and shops.
2.To get the number of people to use PARTY UP platform.
Time period of 4 to 5 months are needed in order to get the platform to be filled with information needed by the users maximally and to increase the number of people using PARTY UP platform. The first two months will be utilized in getting the information about the liquor shops, clubs, bars and pubs to be advertised in PARTY UP platform. The following 2 to 3 months will be utilized to increase the number of people to use PARTY UP platform maximally. So there will not be any profit for the first 4 to 5 months as the task to establish the PARTY UP for the customers and users will be focused.
Free slots will be provided for 1 to 3 months to the liquor shops, clubs, bars and pubs in order to increase the information in PARTY UP online platform. Once the information which is our product is loaded maximally in PARTY UP platform, we shall proceed in increasing the number of people to use PARTY UP platform. So another 2 to 3 months will be needed to increase the number of users. It can be done with proper advertising plans. The whole process will require 4 to 5 months to establish a stable online platform and users. Once it is established, we can proceed by charging for the slots used by our customers in order to advertise their shops. The liquor shops, clubs, bars and pubs will be interested to advertise their shops through PARTY UP if we can secure a large number of users. Since the renting of slots are cheap, we will able to make profit out of it.
|Exit Strategies||* To give the slots for cheaper price.
* To focus more on newly established liquor shops, clubs, bars and pubs in advertising their shops through PARTY UP.
* To sell the mobile application