400.000 €Post - Money
July 22, 2015
THE BUSINESS OPPORTUNITY THAT
Parkfy allows individuals to rent their parking space while they are not using it. It is difficult and expensive to park in urban centers. Therefore, unblocking places that are currently underused so that drivers can enjoy them makes sense. Parkfy unlocks these spaces by offering a collaborative experience (collaborative economy) to its users. Parkfy allows two types of rentals that are designed so that the owner and the driver earn and save, respectively enough money to collaborate to overcome any complications that arise when it comes to materializing the rent. The driver reserves the place he desires and once the owner accepts that reservation and agrees to comply with the agreement, the money is transferred. Parkfy charges a 12% commission on the total price of the reservation to the driver. The saving that Parkfy means to drivers is such that a 12% commission is barely noticeable.
PRODUCTS AND / OR SERVICES
OFFERED BY PARKFY
The web version of Parkfy is located at https://parkfy.com, Android and iOS apps will be ready by the end of April. At Parkfy, two types of rentals are allowed, designed to help users compensate for each other without the need to involve hardware. By not using hardware, Parkfy is extremely scalable.
The rent during the routine allows a driver who has a similar routine throughout the year by the area in which the square is located. The owner earns money where he previously did not and the driver only pays for the hours that the square uses, resulting in savings of up to 60% compared to other alternatives.
The rent per day, allows the owner to publish his place as if he seeks to rent it in a traditional way, for X euros per month. Parkfy atomizes the availability of this square and allows drivers to rent it for days, weeks or months. This results in greater cashflow for the owner and considerable savings for the driver.
TARGET AUDIENCE, ITS
CHARACTERISTICS AND NEEDS
We have two target audiences. On the one hand, the owners of places are usually between 30 and 59 years (more information in the presentation on the campaign). On the other hand we have drivers of all ages.
Size of the market, projection of growth and expectations of participation is the same.
There is no data on the number of private places in Spain. However, if we know that the correlation between the number of passenger cars registered in Spain and the Spanish GDP is 92%. With a GDP growth forecast of 2% per annum, we estimate that the number of passenger cars registered in Spain will increase by 1.8% in the coming years. Reducing this ratio by 30% to discount possible errors and other factors, such as the car sharing boom, we estimate that the number of vehicles registered will grow by 1.3% per year. Additionally, as the population grows and car development becomes cheaper, in the medium term car sharing does not mean that there is no need to unlock inventory in the future to park vehicles. We also know that the number of passenger cars minus the number of public spaces (of parking companies and blue / green zone) is more or less the number of private places - around 7 million. We assume that we can model the current parking inventory as a constant. So we know that it is increasingly necessary to unlock inventory, and that having demonstrated that we can do it without the need to install hardware, Parkfy is considerably more scalable than the competition, which uses hardware to solve the question of how do I access my client?
COMPETITIVE SCENARIO- EXISITING
We consider the following companies as competitors; parquo.com, wesmartpark.com, apparcar.com, comparko.com, parkinghood.com. The fundamental difference between us and this list of competitors is our focus on the private market and the fact that we do not use the hardware installation to provide value to our users.
99.9% of prospective users in the market do not understand how an app works and what exactly the security guarantees are. For this reason they distrust a machine designed so that their clients open the door of the garage from the mobile and additionally they do not find an economic sense to that installation. Parkfy offers a simple and humane solution, facing the challenge of how do I access my client? As a sociological solution rather than as a technological one, the types of rent in Parkfy economically incentivize both types of users to overcome logistical barriers and other nuances. To this day we can show that this works.
The business model of the project, indicating a projection of the expected users and how to obtain the revenues and benefits of the business Parkfy allows the driver to find a place that meets their parking needs.
From then on, you can talk to the owner of the square through an internal chat, so that both can agree. Once the owner accepts the reservation, the money is transferred from the driver's card to the owner's virtual wallet. In this process, Parkfy charges a commission of 12%.
In theory, both users should not be able to speak until the transfer is made and Parkfy has charged the 12% commission. However, being at an early stage being so rigid with this process would go against us. The idea is to start with a somewhat more open process, and gradually close it as the platform's popularity increases and the number of users active in it. This has already been done by other pages like BlaBlaCar, for example.
are a number of nuances that should be taken into account when understanding
Parkfy's cashflows. First, reservations for the routine are made on a weekly
basis. We have designed it so that two users can agree with an initial lower
amount, thus increasing the possibility of transactions in a phase in which
users do not yet have too many reviews; The lower the amount, the less risk the
first payer assumes. After a certain point of activity, we will modify this so
that the rents during the routine are made on a monthly basis, thus increasing
the volume of the average transaction in this type of rents.
Secondly, we cannot control that users continue to carry out transactions through us. However, rents for days / weeks represent a possible source of recurring cashflows, especially through strategic partnerships with companies such as BlaBlaCar, Amovens etc.
As an average volume per transaction we estimate 20 euros, although the average amount in rents during the routine and in monthly time will definitely be higher. With this value we estimate our revenues, assuming a single transaction received by the owner (assuming that 50% of the total number of users), although in case of days we believe that the number of transactions received per owner will be significantly greater than 1.
We estimate that with the campaign in Mediaset we will reach 60,000 users and 10,000 places. The objective is to rely on the metrics of this campaign to be able to close a later round.
The status of current project is the development stage. An implementation plan and strategies are to follow.
Currently the web version of Parkfy is at https://parkfy.com. The current web version is the result of several iterations, based on feedback from users.
are in the process of developing Android + iOS apps. 49% of our traffic is
mobile and we aspire to be able to capture and give a good service via this. We
believe that the best way to do this is through native mobile software, because
this allows us to give a better experience to the user and later will allow us
to jump to systems that incorporate hardware if it turns out to be a viable /
attractive option in the future, as it is very possible that it is.
The economic incentive that Parkfy supposes for both owners and drivers is enough to attract users to the platform, after clarifying a series of questions that we have identified today
a. How do I open the door?
b. How do I know who I have to trust?
c. How much money can I earn?
these doubts the prospective user is already able to visualize using Parkfy.
Advertising with a didactic component, without losing the brevity, we believe
that we can achieve much better results than with standard advertising, for
Additionally, current Lx-Change S.L. will be able to pay salaries and to pay other maintenance costs without any problem.
PROJECT MANAGEMENT TEAM
Bilingual ADE student at CUNEF. CEO & Co-Founder of Parkfy.com Technology, sociology and economics in the particular order. Relationship with press. Unconditional dependence on the improvement on the development and improvement of the product of Parkfy.
Student of 5th Law and Business (E-3) course at ICADE. Specialization in finance. Entrepreneurial spirit. Founder of the ICADE Finance Club. Practices at Nomura (Sales & Trading, London), UBS (Madrid), Banco Santander (Scotland) and CMS Cameron & McKenna (London). Profile finance, relationship with investors and sales / communication with press, television and radio.
Mario Montes González
Second-year student in Computer Engineering at Carlos III University in Madrid. Programming on my own since I was 13 years old. Passionate about technology in general, and web development in particular. Organizer (former volunteer) of T3chFest and volunteer in different associations within the University.
Pablo García Encinas
(They are likely to join the team unconditionally after developing the app). IOS Developer for Parkfy. He programmed his first app with only 12 years. Winner of several contests for apps with that of Campus Party Europe and Santander Hackathons. Experience on iOS and Android.