Playenable Ltd.
London,
United Kingdom
- Investment sought:
- £25,000
- Equity offered:
- 5.00%
-
Investment
amount: - £25,000
-
Valuation
(pre-money): - £475,000
Idea
Introduction
PlayEnable can be described as the Toptable for sports. It aims to be an online hub for visitors to search and book gyms and facilities around them. Problems we aim to solve: A) The inconvenience of having to search for appropriate sports facilities and to book them via the phone. B) The fact that no reviews are available for various sports and fitness aggregators C) Free web-based booking/facility management system to lock-in the facility to PlayEnable.
Intended impact
PlayEnable could potentially revolutionize the way people make bookings in gyms and sports centers.
At the facilty end, it would help small facilities with limited marketing and operations budgets to compete with the bigger chains.
Substantial accomplishments to date
Facilities signed up :
California : 19 are using PlayEnable's platform to advertise their free slots
London.
Corporate tieups:
LinkedIn and Oracle for visitors to our website
Recognitions:
1) Grand Finalist at the European Student Startups in 2012.
2) Finalist at the London Business School Business Plan Competition in 2012.
Monetisation strategy
1) Commissions from bookings of individual spots
2) Commissions from the sale of monthly and weekly memberships at clubs
3) Other sports merchandize sales and affiliate marketing
Use of proceeds
1) To increase spending on online and offline marketing and promotions
2) Grow team for marketing and client management
3) Invest on mobile and web platform upgrades and features
Market
Target market
Target market :
A) Suppliers (Gyms and Sports facilities): Especially the smaller ones which we think have limited marketing budgets and visibility issues
B) Sports/Fitness enthusiasts : Especially urbanites who we believe would 1) like the convenience of online bookings; and 2) would like to try out different sports in different gyms.
Characteristics of target market
We believe that current trends are:
1) Short term subscription models at gyms and sports facilities are on the rise.
2) Booking by phone and web platforms is preferred over phone bookings (E.g. Hotels.com; Opentable etc)
Marketing strategy
We have the following plans: Online : Social Media campaigns (in progress) ; Google and Facebook Ads, SEO and Offline : Flyers; Tie ups with Hotels, Corporates (in progress) and with Universities.
Competition strategy
PlayEnable aims to provide:
A) A free booking software to facilities which they can use to manage their schedules and their members. This would effectively lock in the facility to PlayEnable against competition by increasing switching costs to other booking solutions.
B) Unlike other solutions, PlayEnable would not just provide a booking solution but also bring visitors: University students, Corporates, Hotel residents etc. It would take care of the SEO and promote each facility via Social media, etc.
C) By diversifying the geo-locations, visitors would be able to use PlayEnable approved gyms and sports facilities in more cities than the competitors.