The GoKart 600 is one day for the entire staff of GoKart Labs to invent a viable product or business in 600 minutes. To do this, we rely on our established methods for innovation, condensing our process down to a single day of fearless exploration.
This is a 2018 business pitch that came out of the team drawing an audience and a human need, want or desire out of hats the day of the event.
Audience: Mid-Career
Need/Want/Desire: Find a New Passion
5. We believe that helping people
find a passion project will help
them be happier as individuals
and more connected to their
loved ones.
OUR BELIEF
6. 06
Only 1 in 3 Americans are very happy.
- The Harris Poll
THE PROBLEM
SURVEY PREFORMED 2002-2017
7. 07
Nearly 40% of Americans rarely engage in
hobbies and pastimes they enjoy.
- The Harris Poll
THE PROBLEM
SURVEY PREFORMED 2002-2017
8. Every day after work I go home
– and a lot of friends feel this
way – I work, I work out, and I
go home. That's it. Life becomes
boring, routine. It's not fulfilling.
Meagan Riley, 38
MID-CAREER PROFESSIONALS ARE UNHAPPY
08
9. We help people find a passion,
connecting them with real-life
experiences and community that
help them in their pursuit.
OUR SOLUTION
PASSION PROJECT
13. 13
INPUTS
• No paid employees
• $50,000 marketing investment from founders
• Minimum Viable Product - 1 region
TESTING AND VALIDATION
OUTPUTS
• Proof of concept
• Real Customers ($3/click, 10% interest; 15% of interested parties
• buy)
• Market Insights
• Customer feedback
• Model to prove Return on Investment
14. TheBusinessModel
14
We’ve assumed a 20% vendor fee on any
experience booked. Looking ahead, we’ll
explore a premium passion finding experience.
15. TheMarketingPlan
15
OUR
TEST:
We’ll take on the
challenge of a two-sided
market with a $50k spend
focused on one region,
potentially New York.
YEAR
ONE:
We’ll target 1 region
and create 12
experiences.
Marketing spend:
$250k
YEAR
TWO:
We’ll target 2 regions
and create 24
experiences.
Marketing spend:
$500k
YEAR
THREE:
We’ll target 5 regions
and create 60
experiences.
Marketing spend:
$1mm
16. THE
FINANCIAL
MODEL
16
TEST YEAR 1 YEAR 2 YEAR 3
# of Regions 1 1 2 5
REVENUE
B to B sign up fee 0 60,000 120,000 300,000
B to B 20% of experience fee 100,000 500,000 1,000,000 4,000,000
Total Revenue $100,000 $560,000 $1,120,000 $4,300,000
Hosting & Maintenance 240 120,000 180,000 240,000
Content Creation 100 24,000 48,000 120,000
Total COGS 340 144,000 228,000 360,000
Gross Margin $99,660 $416,000 $892,000 $3,940,000
100% 74% 80% 92%
Personnel 0 200,000 450,000 600,000
Marketing 50,000 250,000 500,000 1,000,000
Facilities 0 5,000 5,000 5,000
Total SG&A 50,000 455,000 955,000 1,605,000
EBITDA $49,660 -$39,000 -$63,000 $2,335,000
Net Margin 50% -7% -6% 54%