Idea Name: “Event Spot”
One Liner: “Your one-stop shop for all your special event planning needs.”
Target User Persona: Busy professionals who want to plan and execute special events, but don’t have the time or resources to do so.
User’s Pain Points to Solve:
Lack of time to plan and execute events
Difficulty finding vendors and coordinating multiple services
High cost of hiring an event planner
Limited knowledge of event planning
Main Value Proposition:
Streamlined event planning process with a user-friendly platform
Wide variety of vendors and services available
Customized event packages to fit different budgets and needs
Expert event planning advice and support
Sales & Marketing Channels:
Social media marketing
Influencer partnerships
Email marketing
Word-of-mouth referrals
Revenue Stream Sources:
Commission from vendors for bookings made through the platform
Customized event package fees
Advertising fees from vendors
Cost Structures:
Platform development and maintenance costs
Marketing and advertising expenses
Commission fees to vendors
Salaries for event planning experts
Key Activities:
Develop and maintain the event planning platform
Partner with vendors and services to offer a wide range of options for users
Market the platform to potential users
Provide expert event planning advice and support to users
Key Resources:
Expert event planners
A user-friendly platform
Wide variety of vendors and services
Key Partners:
Event vendors and services
Influencers and social media personalities
Idea Validation Steps:
Conduct market research to gauge demand for a digital event planning platform
Create a landing page to test user interest and gather feedback
Partner with a small group of vendors and offer a limited number of customized event packages to test demand
Solicit testimonials and reviews from early users
Estimated 1st Year Cost of Operation: $50,000-$100,000
Potential Business Challenges:
Competition from other event planning platforms
Difficulty in building partnerships with vendors and services
Difficulty in building a user base and generating revenue in the early stages