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Ongosa

Follow-on - Pre-emption

Profile
The inside track for serious adventure sports enthusiasts and professionals. Search, review and book.

SEIS

Location
GB London, United Kingdom

Categories: Travel, Leisure & Sport Mixed Digital/Non-Digital B2C

Social Media
Website
www.ongosa.com
Company number
9297585
Incorporation date
5 Nov 2014
Investment sought:
£25,000
Equity offered:
3.21%
Funded 21 Sep 2016
Investment
amount:
£25,070
Valuation
(pre-money):
£752,690

Idea

1st image at top

Introduction

Further to Ongosa LTD's first year of trading and discussions with leading shareholders on performance to date and plans moving forward, Ongosa is opening up this Bridging Round campaign on Seedrs, to established shareholders. This round is to top-up our marketing budget, money that is required to ensure we can plan and commit to a marketing programme that will seek to demonstrate that Ongosa can scale the business through profitably acquiring new customers.

While the campaign target is set at £25,000 we aim to raise around £35,000 with any additional funds raised in overfunding being held for contingency, or to invest in profitable marketing channels.

2nd image before impact

Intended impact

As a marketplace and community for adventure sports, Ongosa seeks to bring together three core audiences:

Enthusiasts: helping them push their sports to the next stage, in new environments, with new skills and to new limits by helping them to find, review and book 'authentic' specialist services in key locations and sports.

Professionals: by providing a marketing and booking platform which will reduce their marketing, sales and administration costs, and increase sales and yield.

Sponsors: who are looking to meaningfully engage with a typically difficult demographic.

Substantial accomplishments to date

Please see attached 'Onogosa FY 02 Shareholder Report With Appendix 28 June 16.pdf'.

3rd image before monitisation

Monetisation strategy

A content and feature rich website, highly focused on the adventure sports community, supported by a significant investment in search engine optimisation and pay per click, should drive highly targeted traffic to Ongosa.com. Once web traffic is established, revenue streams are anticipated to be:

Sports activities bookings (guides, instructors, packaged trips) 70%
Based on 10% commission per booking.

Accommodation (10%)
Based on 10% commission per booking.

Insurance (7%)
Based on 20% commission per booking.

Equipment (7%).

Advertising & Sponsorship (5%).

Use of proceeds

The top-up funds raised will be used to significantly bolster our marketing efforts for this winter's 16/17 ski season. We will primarily be focusing on profitably acquiring new customers. This is required to prove to future investors that we have a scalable business model, where the further investment required will take the business on to be a multi sports platform. That round is planned for Q3/Q4 FY 16/17.

This winter season's marketing plans are being finalised in collaboration with a strategy-led marketing agency Remarkable Things (www.remarkablethings.co.uk) and the established travel-specialist PR agency Brighter Group (www.brightergroup.com). The key to this approach, with both partners, is to take a Build - Measure - Learn approach. Thus, ensuring we test all the identified channels before investing marketing budgets.

Please refer to Marketing Strategy section for further information.

Market

Target market

As a market place there are two main audiences: Enthusiast & Professionals.

Enthusiasts:
Active multi-sport individuals who are very likely to participate in two or more of the sports listed. We expect there to be a high level of this audience who either ski or climb and are proficient enough to look for off-piste/backcountry and more adventurous and demanding experiences. ABC1, 30 – 65
Professionals:
Independents or small agencies focussing on providing guiding or instructor services in the sports listed in key identified regions.

Each will have a high level of interest in two or more of the following:

2 above winter sports

Winter:
Climbing
Ice climbing
Mountaineering
Ski Mountaineering
Backcountry skiing & snowboarding
Heli & Cat Skiing & Boarding

3 above summer sports

Summer:
Mountain Biking
Hiking/Trekking
Endurance Running
Parapenting
Climbing
Mountaineering.

Phase 1 regions: High Alpine, multi season, multi sports resorts recognised for backcountry offering.
France: Chamonix, Trois Vallees, Val d'isere, Les Arcs Les Deux Alps & La Grave.
Switzerland: Verbier, Engelberg, Andermatt.
Phase 2 regions: Moving into wider mountain regions with more accessible backcountry offering across EU.
Phase 3 regions: North American mountains following the same growth strategy.

A third audience would also be enabled to provide value added, paid content:
Insurance, sports equipment, accommodation & transfer companies with an interest in the above demographic and an association to relevant sports.

1 by target market

Characteristics of target market

Size
We understand there is market for these services as there are a number of associations of professionals and accreditation for training and guides. There are currently 6000 IFMGA registered guides.

Through our own research we conservatively estimate the European guiding & instructor market to be worth approximately £900 Million representing 1.8 Million trips.

There is also active web presence for outdoor/adventure sports
www.dream-guides.com >38,000 UVPA
(Well known English speaking Guide Agency in Chamonix).

www.powder-extreme.com >35,000 UVPA
(Company offering off-piste skiing in Verbier).

www.thebmc.co.uk >600,000 UVPA
(British Climbing/Mountaineering Association).

www.welove2ski.com >380,000 UVPA
(British Ski Interest Website).

Outsideonline.com >16M UVPA
(Media platform for outdoor/adventure sports).

Backcountry.com >10M UVPA
(E-Tailer for adventure sports equipment).

UVPA: Unique Visitors Per Annum as detailed on www.siteworthtraffic.com.

Marketing strategy

Ongosa FY 16/17 Marketing Strategy is separated into two key areas 'Affiliate' & 'Direct'.

Affiliate:
Working with respected ski-related companies who can allow Ongosa access to ski and snowboard enthusiasts, who may be interested in finding instructors or guides, in return for a share of commission.
We have identified and are in various stages of signing up affiliate partners in three key areas:
1. Transfer companies: Where they are looking to include Ongosa in the booking confirmation.
2. Ski-specialist travel agencies: Where they agree to promote Ongosa through various client touch points, including when taking final balance.
3. Ski-specialist media owners: Where they see value in using unsold online advertising space to make additional revenue.

Examples:
http://www.bensbus.co.uk/discounted-ski-lessons/
http://www.alpineanswers.co.uk/skischools/27702.

Direct
Where we will attract users directly to our site. We have a number of initiatives that are in progress including
1. Inbound marketing through www.ongosa.com/explore.
2. Being active on social media.
3. Guest blogging with relevant brands e.g. http://www.igluski.com/blog/2016/06/16/4-prepar....
4. Continued S.E.O investment.

With the additional funds secured through this bridging round, we plan to identify further profitable marketing channels. Budget has been broken down as below. However, we do plan to test all channels on an ongoing basis and as such, will likely change our spend according to where we see success:

PR: £12,500
Targeted Online 'Performance' advertising: £16,000
Sponsored Brand Partner Promotion: £4,000
Design & Creative: £5,000
Ski Show: £2,500
Content: £2,000.

Further breakdown of budgets and sales forecast available on request.

5 above competition

Competition strategy

Current:
There is no online marketplace for adventure sports guides and instructors that we are aware of. Initially, competition will come from in-resort, established agencies and/or customers booking direct. Ongosa will mitigate these by aiming to provide:
1. Top ranking internet search results through a combination of advanced search engine optimisation, highly targeted pay per click and strategic partnerships (e.g. BMG).
2. Superior client experience, service and choice underpinned by simplicity and speed of booking.
3. Independent fast, safe and reliable access to new and existing client base with superior marketing and booking platform.
In Verbier the leading agency has offered Ongosa 10% commission on all bookings and agreed to make all spare capacity available through Ongosa.

Future:
While there is no current competitive marketplace, the mitigation strategy for emerging competition is:
1. Having early mover advantage and creating barriers to entry.
2. Build a coveted, trusted and recognised brand in key adventure sports regions with world class professionals (e.g. Chamonix & Verbier where pilots are being focussed).
3. Secure and hold high level of quality inventory.

To access the Ongosa team biographies, including current ownership

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Investing carries risks, including loss of capital and illiquidity. Please read our Risk Warning before investing.

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

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This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.
This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.