Business Plan for a ticket retailing application: Ticketing

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2016 (EN)
Business Plan for a ticket retailing application: Ticketing (EN)

Jeffrey, Devin Sylvester Jr (EN)

School of Economics, Business Administration and Legal Studies, MSc in Management (EL)
Andriopoulos, Constantine (EN)
Kyrgidou, Lida Jr (EN)
Laspita, Stavroula Jr (EN)

Although there are no official figures on proceeds from the Antigua’s and Barbuda’s entertainment industry, popular carnival events have been reported to make an estimated EC$2.5 million per event according to some established promoters. Ticketing aims to establish itself as the major ticketing pl atform in Antigua and Barbuda. • ! The P roblem - The existing options of buying tickets for any event in the islands of Antigua and Barbuda are limited to physical paper tickets, which are distributed to physical retailers and sold at a limited amount of plac es around the islands. This arrangement has inherent problems, in that, consumers would have to find a ticket outlet; in some instances, having to get on a bus or taxi travelling long distances to purchase a ticket, only to find out that the outlet just ra n out of tickets, or does not have the category of tickets that they actually wanted . There is also no main “hub” for advertising of events. Promoters and event hosts currently have to purchase in advance, bulk amounts of printed tickets, which is inherent ly risky; especially for new promoters. Distribution to different ticket outlets is then another hassle as promoters then entrust third parties to collect ticket sale proceeds and deliver those funds securely. • ! The S olution /P roduct – The proposed project will offer a secure, convenient way for promoters to advertise their events and sell digital tickets, while concurrently, providing an advertising hub for the customers (or users of the application) to get information on events happening within their area and purchase tickets without having to leave the comfort of wherever they are (twenty - four hours per day). These digital tickets can then be redeemed at the promotion/event venue using software provided. T icketing will also make it easy for anyone to host and manage an event, seamlessly with event management, data visualization tools at their fingertips ! 7 ! through a web portal. • ! T he O pportunity - The entertainment industry in the Caribbean is a very diverse and expanding industry. The ticketed events industry in Antigua and Barbuda alone is estimated at an EC$18 million dollars per annum. There is the potential for the defining and setting the pace of an entire industry. Ticketing would enjoy a first movers of advantage of being released into a non - existent ma rket. Ticketing as a service would promote efficiency, lower or eliminate initial investment by the promoter and enhance security to the users, promoters and other stakeholders . • ! Competitive Advantage – As mentioned before, Ticketing will enjoy first mover s advantage, setting the tone of the market and enjoying “free reign”. Instant distribution of tickets as apposed to the alternative would be a welcomed change by both promoters and customers. More efficient and secure redemption of tickets at the venue of events is also a unique selling point. The application will appeal to the new generation of tech - savvy individuals who according to our research, would be interested in taking advantage of such a service. The app will have local processing of transactions and a local business team for the promoters and events hosts to interact with. An event management dashboard to enable hosts to manage events real - time and also view usage data on trends would give promoters the tools to make real - time decisions when mark eting a promotion or event. • ! The M odel – From the inception of the idea, the teams goal was to maximize convenience and service, while maintaining a robust and sustainable business model. Thus, the following options were created with the intention of being used singularly or in combination with each other: o ! Service charge per transaction o ! Customer Convenience Fee o ! Host Subscription based model ! 8 ! o ! Data Reselling o ! Add on services • ! T he T eam – Ticketing as an idea is not a novel concept. In fact, every member of the Ticketing team had some form of the idea formulated but then came together and joined to develop the idea and work on building the service. Ashton Hewlett Fearon is a research officer within several IT departments for the government of Antigua and Barbuda . Devin Jeffrey is holds a degree in Computer Science and is currently finishing his tenure at the International Hellenic University with a MSc in Management. He cofounded Code Hut Solutions (a software/web development agency) with Sven James (another memb er of the Ticketing team) and is the Lead Front - End developer in the small business. Sven James possesses a BEng in Software Engineering and MSc in Evolutionary and Adaptive Systems. He focuses mainly on Software Architecture and is the lead Back - end devel oper at Code Hut Solutions and also the Lead developer for the back - end of Ticketing . N’kenge Drew is Graphic Designer photographer and producer with an extensive portfolio and the designer of the Ticketing UX (EN)


Διεθνές Πανεπιστήμιο της Ελλάδος (EL)
International Hellenic University (EN)




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