Tune In - Music Around You

Tune In - Music Around You allows users in a 35 miles radius to see all of the live music events at all the different restaurants in their area. It solves an information problem for the base user while solving many marketing issues for restaurants and artists. The app is on both app stores and is free to all parties right now. Once we get to 1,000 users we will start to charge the restaurants for our marketing services. We have 4 "eventual" revenue streams we are currently looking at. Base users, Restaurants, Artists, and Advertising. As for our first version our "Customer Target" is restaurants that are hosting 1 or more live music events a week. But we must also market to base users to build enough value to begin to charge restaurants for our service. Currently our competitors are Facebook Events and EventBrite. With these services being any event service oriented live music gets swallowed by all of the other events going on. Our app offers users a top down, map view experience which makes the app much more appealing to restaurants as there is a high chance of being noticed by our users. We also offer push notifications not only as a "recommended places'' push but also to any user who follows the restaurant or an artist. Along with rating and reviewing of course.  As of now we are currently working with 3 high value, established restaurants in the league city area on a free basis and we have 43 base users. So far we have adopted a facebook ads strategy posting events 3-4 times a day and boosting posts for 5 dollars each. We also ordered 1,000 stickers with the QR codes for the app which will go on the tables of at least two of the three restaurants we are currently working with. Our first goal is to first capture the market in Houston with 200 Restaurants and at least 10,000 base users. At 250 dollars a month this would equate to $50,000 a month in revenue.  Each additional restaurant customer would be worth at least our starting position of $50 a month. I believe a base user would be worth no more than $5. But I would like some experience on how to accurately formulate these numbers.