Mobile barber App just like Uber or Lyft , for affordable haircuts for college kids . Main target big cities and universities. Financial Plan
Key Revenue & Costs
The revenue drivers for Daily Cuts Mobile App are the paid subscriptions the user will purchase if they would like more detailed content. Daily Cuts will also accrue revenues from other apps that wish to advertise their content on the Daily Cuts mobile app. The other apps will pay to have their apps advertised on Daily Cuts app.
The cost drivers will be the capital required to pay for the mobile developer company, advertising agency, CPA, and payroll for the customer service representative. Other cost drivers will be the targeted social media advertisements and commercial space.
Funding Requirements and Use of Funds
Daily Cuts App is seeking $345,000 in debt financing to begin development of the mobile app. The funding will be dedicated towards the costs for the mobile developer, advertising agency, and any photography needed. Funding will also go towards the targeted advertising on social media and the commercial air time. The breakout of the funding is below:
Mobile Developer Cost: $100,000
Advertising Agency Cost: $100,000
Targeted Social Media Ads: $50,000
Commercial Air Time: $50,000
Three months of payroll for Customer Service Rep: $15,000
Three months of costs for CPA: $30,000
Key Assumptions
The following outlines the key assumptions required in order toachieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.
Initial Number of Downloads per Month: 500
Cost to maintain presence on App stores per year: $100,000
Financial Projections
Income Statement
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