Tyndar App Business Plan

Document Type:Thesis

Subject Area:Business

Document 1

Therefore, Tyndar app is one of the fist app that will provide its users to not only connect with friends but also make some dollars. This will be very beneficial since with more popularity, the chances for benefiting from this will be high. Most of the current networking platforms, reward minimal and even sometime do not reward their most influential subscribers. However, with the Tyndar app, the influential subscribers will be in a position to benefit as they will be in a position to sell virtue items that will be available. Among these items will include cars, glasses of beer, wine and other drinks, cars and mask. The one is creative in this app, the more they are able to make more money.

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Also one could use the app as a saving account where they buy items for a period of time and then withdraw it as money to their bank accounts when the target is attained. Vision Tyndar App aims to grow a $60 million worth networking program that will provide a LIVE platform and money transfer function within the next 3 years. Mission To become the leading networking platform by including young investors who will be in a position to improve their innovative skills as well as making their dreams come true by attracting more people willing to spend their money on virtue gifts. Goals Achieve 60,000,000 users by December 2019 and 50% of user using money transfer function when they watch LIVE show. The most influential people will be in a position to make money by selling and buying the virtue items.

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This is the greatest thing since the iPod since it will provide a platform where people will be in a position to interact and also make money. The world of internet has been taken over by social media and everybody is willing and interested in interacting with different people from around the world. Therefore, providing a site where it is possible to interact while still making and saving money will be a great platform for the current generation. The Industry The largest competitors will be the already existing social media sites, hence the interaction part will not be a new thing for most of our customers. For instance, a subscriber of this application has the chance to create a live show in the “Live Room” where they teach people issues of life, how to cook, how to make waste products useful and even create a platform where one looks for a skilled employee for a new upcoming business.

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Tyndar is not only an application that would help people interact but also grow economically. The application aims at attracting people of all walks of life. School children can join as subscribers so that they are able to learn from each other and even discuss school work. Also, parents can join as there is also a platform where one can train on parenting issues. Tyndar’s Promotion Strategy I. Look for a local celebrity to endorse the product to the target market. Since Tyndar hopes to attract people of all walks of life, then different celebrities in terms of age will be used to endorse the product II. Create a LinkedIn group as they are usually created for free. Through the group, the company will be in a position to create traffic to their product so that people are able to understand how the new product works and how it will be used to earn money by just interacting in the site.

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Also, one may want to send a product from one individual to the other who are in different locations. The application will make it easy for them to interact and send instant gifts thus solving the niche. Operations Plan Being an online business, the most important part of operation is ensuring to have very reliable servers since scaling is one of the greatest challenges that have faced start up social media businesses. Therefore, it is important to ensure that the system is reliable and ready to serve as many subscribers as possible. With the target market, it could be a great challenge if new subscribers spent their money on the site then it starts to hang as it would look as a scam hence costing us most of the potential customers.

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As a social media platform, limiting the geographical area is not good for business. Therefore, Tyndar app will not be limited to one region to ensure that the users are able to connect with other from other parts of the world. Also, it is important to ensure that the people are able to source followers from other parts of the world hence increasing the chances to make more money. Control Systems From the development stage, it will be important to ensure that the standards are observed and that the regulations are adhered to. Therefore, the policies that will be used to develop the system will ensure that quality is assured for our customers. These investors will have shares from the company that depends on their contributions where 1% of the company is equivalent to $500,000.

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The company is expected to earn money when 50% of the expected 60 million users use the money transfer services offered by Tynder App by the end of 2019. In addition to local investors, the company looks forward to cooperate with banks that will not only fund the running capital but also offer a platform that will be used by users to transact with each other through the Tyndar money transfer services. Start-up Costs • Initial Development of Tyndar: $20 million • Running cost of Tyndar: $20 Million • Available amount: $10 million • Total amount to be outsourced from local investors: $30 million Profitability • Total app revenues projected in year 2018-2019: $46 billion • Paid-for app revenues growth forecast for 2019: $1,95 billion • Expected in-app purchase revenues: $28,9 billion • The in-app purchase is expected to grow by 30% annually in 2018-2019 as people register in the app.

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• Over 60 million users are expected to use the money transfer services offered by Tyndar app by the end of 2019. Also, low users could be another challenge that could impact the system hence resulting to low profits. This could be solved by gifting new users with free virtue gifts that they can later sale to other individual and make profits that could be withdrawn in real bank accounts that the users have connected to the site. Therefore, with the current finances, we are able to plan for any inconveniencies that could so far be experienced. The target hardware suppliers are reliable and hence ready to be very available in giving the support required to ensure that our customers get the perfect services that they expect from this new business.

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