Generating revenue. Launched a month ago and generated revenue of 250 USD.
Have achieved a page view of 8000. Worked with 25 clients already and still counting.
We are functioning in India as of now. Considering India as our local market, the event sector had a total sold out revenue of 0.7 billion USD in the year 2015-2016.
The total online sold out was 10%. We are targeting the other 90% market. With best services and simple operation. Our target audience lies in all age group. We target a huge category of event ( starting from kids hobbies to old age yoga ).
Problem or Opportunity
The event industry in India reached 0.7 Billion for the sold event tickets last year and grown immensely in 2017. Only 10% event tickets are sold online. There is a vast scope of event sector in India as it is developing. Only 25% events get a proper crowd coverage. Boovent will become India's first platform with best technologies and customer services.
Solution (product or service)
We act as a link between Event Organizers and People who wish to explore those events. We work on a commission basis as of now. We tend to provide with best solutions to the clients and easiest platform for organizers to post thei event and users to book their events.
There are few competitions in the market.
1. Bookmyshow - Most of all big events are listed by Bookmyshow
2. Townscript - Non-entertainment majority events market share
3. Explara - Very less market share
4. Paytm - New to market yet
Advantages or differentiators
1.The biggest is Bookmyshow. It has a huge market share. But being in a movie ticketing business too, it has more customer base in movie sector and also it only helps big clients for listings. The listing process takes time to be moderated. Whereas Boovent provides do it yourself event portal. As soon as an event comes on board, our executive calls the client and asks for confirmation and after confirmation, the event goes live.
2. Townscript- 75% acquired by Bookmyshow, Its a non-entertainment ticketing platform, for conferences, seminars etc, the customer has a problem which is the platform gets a bit complicated at times, and the customer support is not good. The client coverage limits as if I want to organize an event that is entertainment event then I cannot use Townscript and I need to download another app o create a new account somewhere else. Whereas Boovent supports a huge variety of event categories and has the best customer support Online and Offline both.
3. Explara- There is no moderation of events and the platform is very confusing. Users get no events coverage unless clients guides them wth an event link. Whereas in case of Boovent, its the most simple 3 step booking without wasting any time to understand the concept.
We act as a link between Customers and Event Organizers. For a ticket sold, we charge 5% commission. We have generated a revenue of 250 USD in a month. We expect to get at least 40% of the 90% revenue on our platform in the coming 5 years.
We take 5% of every event ticket sold. We charge only for paid events. Free events can have a free listing on our platform. We also have plans for featured events and banners charges. Digital marketing packages, Membership Packages( weekly, monthly, quarterly, yearly ).
Money will be spent on
Most of the money will be spent on Branding. Some amount will be spent on bringing best technologies and hiring professionals.