Having been selected as one of the Top 30 New Business Concepts in St. Louis two years in a row by the St. Louis County Economic Development Council’s Business Plan Competition, Cafe Revenue is still seeking $15,000 in funding to finish development of our event management software solution that private labels specific pre-defined and very profitable events under local bars and/or restaurants to drive revenue to them on nights they’d normally be slow, or even closed. Initial targets include Dueling Piano Bars and Comedy Clubs due to most of them having perfect facilities for our event type and that they are usually closed on Sundays, Mondays and Tuesdays.
Our business model initially focuses on one ‘event type’ that, on average, will generate approximately 100 attendees paying $35 per person to attend the event. Our goal is to capitalize on the notoriety, marketing and resources of local restaurants and/or bars to strategically tap into a $4 Billion a year online market where approximately 44% of the adult population would be interested in attending.
The Cafe Revenue proposal is a solid business plan that has been vetted by mentors at the Internet Technology Entrepreneurial Network, the Saint Louis University School for Entrepreneur Studies, SCORE and several other personal mentors. We now have the expert team in place to complete the software, but have been struggling in trying to self fund the development or an adequate investor.
Our vetted and organic growth projections strategically anticipates Cafe Revenue generating $696,920 within Year 1 after proof of concept is generated, $3.35 Million in Year 2 and $6.58 Million in Year 3 based upon our one specific ‘event type.’ Half of that revenue will be given as a rebate back to the bar/restaurant participating in the program thereby helping stimulate and drive dollars to their bottom line. No other competitor in the market incentivizes the local restaurant and/or bar for having an event like this. Therefore, we believe our model has the opportunity for huge success.
To finish our proof of concept, we are needing $15,000 to pay our programmer and graphic design people to complete the project in a faster fashion. Our goal is to have the proof of concept completed and thus allowing us to start generating revenue by October 2011.
Although not disclosing our specific ‘event type,’ our business model is outlined below.
Our Success Factors:
In dangling a carrot in front of bars and restaurants trying to generate more revenue, our software empowers those organizations to further use their already built clientele and successful social media campaigns to drive additional business at no out of pocket cost to them. Our software seamlessly automates the event with the help of one of the organizations employees emceeing the event.
Cafe Revenue provides training, ongoing support, professionally private-labeled printed marketing materials as well as online campaigns at NO out of pocket expense to the establishment. It’s a WIN-WIN for any organization to use our software. And, generally speaking, all marketing material will be paid for by the first participant that signs up for the event.
Finally, this software will be successful because we now have a highly-competent, highly-motivated team in place to launch this software. It includes Chris Kuban, owner of Chemistry Multimedia a public relations and marketing company, Angela Cross, Creative Director and former Sr. VP of Fleishman Hillard, as well as John Sebben, financial analyst and web developer. John also holds the position of Financial Analyst for Bryan Cave. There are also two additional marketing support personnel available on an as needed basis.
How We Will Give Back to the Community:
Essentially, Cafe Revenue’s core ‘event type’ provides much-needed revenue to the local bars and/or restaurants, allows for additional professional branding of each organization using our software, provides additional jobs to the local restaurant when running the event and, finally, as a final result, our software potential could have significant positive impacts on the attendees of the event.