How do you organise an event without the financial risk?
CrowdCanDo is a unique event management, online ticketing and crowd funding platform which allows people to create an event page, sell tickets & confirm the purchase by scanning codes on the tickets with a free Android or iOS app. With our innovative crowd-funding feature we plan to make it possible to raise funds towards anything you can sell tickets for & by doing this we reduce the financial risk to the organiser.
Our aim is to make it easy to manage everything from one place & with our selection of online tools we aim to be the one stop shop for all your event organising & online ticketing needs, allowing you to create your own virtual box office and management platform.
When creating an event on the site we would offer 4 different options, plus the organiser could select whether they want their event to be public or private & invite only.
1. Free Events
2. Traditional Ticketing
3. Fixed Funding
4. Flexible Funding
We hope to encourage local authorities to recognise the impact events have on local economies and we aim to improve the facilitation of funding for events. By doing this we hope to open up many opportunities for social and collaborative working amongst individuals, businesses, local councils and organisations.
We hope that by using CrowdCanDo everyone will be able to organise events that before they would of struggled to afford. Not only can people benefit from financially risk free event organising, by getting the crowd onboard early we hope events will have a higher success rate and tickets will sell out sooner.
In fact it doesn't even have to be an event.
Crowd funding is essentially group buying & because tickets can be used to claim anything from entry into music gigs or festivals, coupons, special offers, proof of purchase more, organisers could use the platform to raise funds towards almost anything.
Examples: Organisers can select a break-even point for their funding campaign & offer limited discount tickets in order to reach that target. If successful, ticket buyers (funders) enjoy the discount while the event organiser takes no financial risk.
A motor sports club could decide to start offering experience days but they might need to raise some money in order to purchase a new vehicle. Once they reached the funding goal they would purchase the new vehicle and continue to sell tickets for experience days. They may not need funding; they could just use the online ticketing platform.
The platform could also be used to raise funds towards maintenance work within a local community and by partnering with a local pub or restaurant the organiser could offer a discount at the establishment in return for a donation towards the funding campaign. The community will benefit from maintenance work and the pub or restaurant will hopefully gain extra custom by offering a discount while funders enjoy saving money at their local.
Substantial accomplishments to date
CrowdCanDo has been recognised as a business opportunity by professionals at the Innovation Centre, and through attending an investor readiness programme here, we attracted the services of Andrew Maynard.
Andrew has a considerable amount of experience as an accountant & has spent over 10 years working as an Investment Manager & Finance Director for different companies & organisations including Horatio Investments. Andrew has agreed to come onboard as the company's financial advisor in return for a 3% equity share within the company.
Our income would be generated through charging a small commission on money earned by ticket revenue, plus we would also charge a small fee per ticket sold on the site.
We only make money when our customers make a sale & with this type of business model we are able to concentrate on user experience & spend more time helping our customers make their events a success.
If you are able to fund your events, you don't require any money up front in order to host your event or you just want to use our online ticketing & event management tools, then you can opt for our traditional ticketing service.
• We plan to charge a 2.3% fee + 50p per ticket
With our traditional ticketing service organisers are given the option to add the fee onto the price of the ticket or they can choose to absorb the fee and calculate it into their costs.
Crowd Funded Events
With our crowd-funding feature organisers do not have the option to add the fee onto the price of the ticket, this must be calculated into their costs. We offer both fixed & flexible funding options & for all campaigns that are successful in reaching their target, CrowdCanDo will pay the advanced ticket money to the organiser and the remaining tickets go on sale.
If you don't meet your target by the set date, you will receive no money & none of the ticket buyers are charged. This option is ideal for events that can only go ahead if enough financial backing is received.
• The maximum campaign length is 90 days
• We charge a 3% fee if you reach your goal
• We charge 50p per ticket
This option allows you to keep any funds you've raised by a certain date, even if you have not reached your target or if you go over your target. Ideal if you’re able to use whatever amount of money that’s been pledged towards your event.
• The maximum campaign length is 120 days
• We charge a 3% fee if you reach your goal, and a 6% fee if you don’t
• We charge 50p per ticket
Use of proceeds
We require the investment to cover the costs of outsourcing some work plus our terms and conditions need to be written up and in place before we launch. Money will also be used to hit the ground running with the soft launch to UK customers.
Hosting & Web Development - £8,000 - We require a faster, more reliable web host and would like to outsource some work to speed up the process.
Legal & Professional fees - £5,000 - Solicitors & Accounting
Advertising & Marketing - £3,500 - UK only Soft Launch
Office supplies - £1,500 - Telephone & Computer We would like to hire office space to gain access to extra facilities & services - £650 for 12 months
The remainder will be spent on admin & travel fees, research, development & business growth to include preparation of our second investment round.
CrowdCanDo is a Complex Adaptive Network powered by people with a Can Do attitude; the potential is so vast it's almost impossible to pin down one specific target audience, as the platform will continue to evolve. We hope to build up a collection of similar markets that all interconnect & contribute to the sustainability of the platform.
Our traditional ticketing service offers an alternative to current sites such as Eventbrite & Fatsoma whilst our crowd funding options offer an alternative to sites like Indiegogo & Kickstarter.
By combining these two technologies & bridging the gap between crowd funding & event management we hope to appeal to a much wider audience, plus we aim to offer an alternative to sites such as Groupon & Wowcher.
CrowdCanDo is a disruptive innovation set on challenging all of these existing markets while hoping to create new ones by educating organisers & putting the power in the hands of the crowd.
Our main target age group is people aged 25-34 but we hope we will appeal to the wider demographic of ages 18-40. With that in mind, rather than marketing our services to such a wide audience we're focusing our efforts on identifying different markets & targeting them individually with specific campaigns.
Our initial campaigns will focus on the combination of crowd funding & online ticketing for events along with the ideology of ticket buyers contributing towards the making of events at a discount price while organisers raise the required funds.
We can imagine the platform being used by established businesses, event organisers, venues and people of all ages for a whole host of different events, festivals, daily deals, private functions, charitable fundraisers & more. It's amazing what the CrowdCanDo.
Characteristics of target market
In 2011 crowd funding platforms raised $1.5 billion, most of which came from countries in Europe and North America. It's been predicted that in 2013 global crowd funding volumes will reach $5.1 billion.
Events in the UK contribute an estimated £36.1 billion towards our economy every year. According to a forecast from Business Visits & Events Partnership that figure will increase to £48.4 billion by 2020.
Receipts from ticket sales and ancillary income from live music events generated total revenues for the UK of approximately £1. 4 billion and in 2012 an estimated 2,820 days of festivals were attended by nearly 30% of the population.
Over £12 billion is currently being invested in Event Venues and 20% of existing facilities are reporting upgrades or extensions. £11 billion is gained from over 1,600 trade shows with 250,000 exhibitors and 13 million buyers and suppliers.
Across the UK over 400 folk festivals take place every year, which is worth £100 million to local economies.
This pitch will form the foundations of our initial soft launch marketing campaign where we hope to find possible event organisers as well as investors. As we're offering a unique service to the UK we also hope to receive a considerable amount of media attention and through means of PR we hope to maintain that coverage until the launch.
We will be using the platform to organise our own events and this will allow us to experience first hand what our customers do & by maintaining communication we will strengthen existing relationships.
With our fixed funding option ticket buyers understand that if enough tickets aren't sold then the event won't go ahead. This inspires not only the event organiser but ticket buyers alike to share the event on social media sites, plus we offer an embed code so users can advertise the event page on their own website.
We intend on building partnerships and advertising with relevant retailers, service providers and event services companies as well as venues and event organisers. One example of this is our plans to partner with a national printing company in order to offer our customers discount printing for event flyers.
As the platform grows and we identify new and different markets we will be targeting them individually with specific campaigns tailored to them and their current situation. Our initial campaigns intend on targeting university students studying event management, event studies or other related courses. We intend on reaching these students through means of both print and digital marketing.
We plan to print a 'How it Works' brochure explaining the sites key functions and giving helpful tips on event organising and how to have a successful funding campaign. Copies will be distributed to Universities across the UK. This brochure will also be designed in the form of an Infographic.
Print & Digital Media
Email & Customer Service
Google & You Tube Advertising
National Radio Advertising
By integrating our customers' ideas into the process of innovation and development and by offering an open way of communicating and marketing to consumers we hope to gain a competitive advantage based on trust and disclosure.
We hope to maintain long-term relationships with our clients by keeping open lines of communication. This means asking for input on how things are going and how they feel about the service.
This business was born out of a passion for events and the genuine need to raise money up front in order to host some of these events. This is what makes us so unique and gives us the determination to make this platform a success.
Now we're constantly thinking up new ways the platform can be used and we intend to go the extra mile by actively seek to help our customers make their events and funding campaigns a success by offering hints, tips, help and guidance along the way.
We consider the platform to be both disruptive and sustainable innovation as this brand new concept allows us to create new markets while challenge existing ones. Initially we will only be offering the service to the UK and we're aiming to have first mover advantage. As the platform evolves, we will be spending more time on research, development and user experience and by doing this we hope to offer a unique, innovative service.
You wouldn't usually relate Google with the financial services sector but recently they've invested in crowd funding platforms 'Lending Club' and 'CircleUp'. This decision by one of the biggest names on the Internet is a defining moment for the entire industry and it confirms the power of crowd funding and financial innovation as well as the crowds’ ability to change financial markets and create new ones.