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7/5/2019
Revision Business Plan CE - Manu Fernandez - Google Docs
Business Plan Ontti Labs
Manu Fernandez
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Executive Summary
Ontti Labs operates as a transaction facilitator between home studio owners and working
creatives who are looking for comfortable accommodation with the resources needed for their
project developments. By providing the home studio owner protection insurance, as well as a
rating and review system, the platform builds trust within the community of users and lowers
transaction costs. Profiles and user reviews help to build better customer attention, reputation and
trust among the Ontittled community.
The following business plan outlines the details for Ontittled’s latest project which will be
helping the company prioritize in quality production, developments of creatives and on project
based works. Ontittled is a brand for art, love and greater lifestyle. The main characteristics the
company would focus on is minimalism in contrast with nature, irony, futurism, fantasies,
realities, luxury, history and reflection.
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Ontittled Company’s subdivision called Ontti Labs
short for Ontittled Laboratories, will be the main
priority. It will be an independent project that will
serve as hotels for recording studios, prioritizing a
home-like and comfortable atmosphere. They will be
spread around the world suited with Hi-end
equipment. The structure model is based on other
shared home platforms like Air Bnb, where most of
the resources come from the host of the property but
our majority of contribution will be with the easily
accessible community platform, built in collaboration tools, the equipment included in the
homes, and if needed extra charges for the services of project building like audio engineering,
producers, music supervision, conductors, etc. All of these homes will hope to inspire the
creatives at a whole new level while at the same time providing them the opportunity to build
efficiently. The local community where it is built, will have a sort of quota on priority for the
creatives in the areas. Which we will offer deals for artists in the near future in exchange of
publishing, marketing strategies and distribution. A selective roster of profiles will have the
opportunity to become part of the Ontittled art development team.
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Project Director
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The Ontti Labs concept was envisioned by Founder & Project Director
Manu Fernandez, a strong Audio Engineering professional who found
passion for entrepreneurship and has become an experienced content
producer with a demonstrated history of working in the entertainment
industry. Skilled in several DAW's, songwriting, studio recordings and marketing (digital,
streaming services, content creation and online platforms).
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Value Proposition
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The main benefits the buyer will have for Ontti Labs is that they will have an advantage with a
variety of options in places of pure experiential, productive and global flexibility. For any
creator, that is the main source needed if compared to an ordinary office. We will supply access
to different office spaces around the world, which are going to be basically home studios shaped
for their needs as writers, record producers, project developers, designers, mix engineers, music
supervisors, tour managers and homeowners. We will include consistency of equipment in all of
the homes. I want them to be productive and add to their muse and search for inspiration. This
“offices” will be home studios in a shared home platform but with the featured tools needed for
collaboration between them and eventually build a software that connect seaninglessly with other
rooms in the Ontti Labs locations, my dream will be implementing a sort of hologram system
where the world gets as big as a room. I met Adam Hasslert, CEO of Soundation which is a
company that offers a DAW software that can be controlled from different computers and
locations. Similar tools will be affiliated with Ontti Labs.
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I believe that bringing great tools that benefit collaborations will be a great asset to possess
because it will be a tool that most businesses in the world will need at some point if is something
that makes them perform at their best level. Enabling better communication and empathy
towards other communities around the world. Team collaboration is one of the most basic bases
of a business and I believe it is a very powerful thing to contribute in the creative process in any
business directly or indirectly. Even more now that there is more content produced than actually
consumed.
We will also bring business to the owners of the properties (B2B), where they can use their assets
to make profits. We will only allow properties on the platform as whole houses. Some apartments
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might be available depending on the circumstance. We will also offer convenience to the clients
in order for them to work at their efficiently with other services that include audio engineer,
recording assistants, mix engineers, mastering engineers, songwriters, composers, arranges and
all other creative services needed for project developments. All of this will happen beforehand in
the online platform between the creatives and service freelancers.
Other benefits users will gain:
-Convenience = A place where they can create to a capacity that the property becomes an
instrument as a whole.
-Enhanced experiences = Being presented by different surroundings adds new perspective
and approach.
-The opportunity to network in the different scenes = Building networks and putting your
art in different eyes is very valuable data for future developments.
-Let's the owners list their space on the platform and earn rental money = Different
markets meeting at a middle point and mutually benefiting from each other.
-Provides insurance to listed properties = In order to gain trust and loyalty we have to
deliver commitment towards their security.
-Facilitates the process of booking living space for the writers = The platform does simple
transactions with user friendly navigation.
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-Rating and review system for home studio owners and writers = Instant quality assurance
for our team to take action towards the property owner’s eligibility.
-User-friendly web and app based structure = Basic program maneuvering and
organization.
“ Technology goes beyond mere tool making; it is a process of creating ever more powerful
technology using the tools from the previous round of innovation.” –Ray Kurzwexil
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Environment Analysis
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Market Opportunity
An enormous need exists for a space where people can be productive and inspired while they
create a project around the world with a consistent quality sound. With the whole system
changing it’s a different way of consumption and use in the digital world. It has completely
re-shaped the whole process. Now technology is giving the chance to any person willing to
understand and use the programs as methods of complete expression and digital connection.
There is no stopping the progression of the inability of the fusion of tech and the way we
consume art. We have to embrace it.
With the traditional recording studios becoming always
so luxurious and expensive, it adds pressure to the
artist and focus towards their goal. The quality of the
art and meaning is suffering. It is ruining the upcoming
generations, there is way too much content with no real
dept. The consumer is starting to get used to this level
of work and expecting the obvious. We believe we can
create an environment with a surrealistic out of this
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world vibe that will deliver a service where the influencer just has to focus on what they love.
We will like to also bring new concepts and terms that hopefully become industry standards, for
example the term “Writing tour” we think this could be a new innovative concept that I haven’t
ever heard before and it could be implemented through Ontti Labs culture as a platform. “A new
way of building an album by doing a writing tour!” For example: maybe, record the drums in
Thailand, then the guitars/bass in Honk Kong and vocals in Japan. Eventually bringing also tech
that facilitates communication interchangeability between the locations. My most ambitious
mission is to have a technology where you can basically appear in the room and feel like you are
all in the same room, not mattering what part of the world as long as you are in another Ontti
Lab. This is why new fresh perspectives from younger generation teams will soon dominate and
anticipate most trends, because we are knowledgeable and understand how it works and how to
experience it. We grew up with it mostly as ordinary family setting understanding technology as
it happened. This sort of collaborative tech
tool for me would be revolutionary and will
make the world as small as an Ontti Lab.
Project development would become a much
easier task with a tool that transports your
actions in real-time seeming physically
present.
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Major Trends
With rapid technology advancements of recent times, most tools and devices used to create and
consume content have completely changed and have shaped to new ways we interact with them.
Now we have smaller and more independable devices that adapt to our own life’s needs and
fuses itself with our own reality, becoming an extension to a human’s capabilities and senses. We
are living in a time of
opportunity and growth,
this is just the beginning
of almost complete
technological
dependency. Our world
just started to change
rapidly. Most
information, social
interactions,
communication and
entertainment are happening all in a few devices, it gives enough proof of the impact and
behaviour patterns it has influenced in our day to day. All of this hasn't only benefited the
consumers options of content, but also the producer’s and all creators way of thinking, with more
alternative for a B2C direct connection. This is why it is important to build new products that
give tools for creatives which helps them adapt to this advancements in a smooth and beneficial
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way. Having the option to create in different parts around the world will benefit your muse while
having the tools place for the creatives to keep their productivity engaged independently or
within a group.
“ It is not the strongest species that survive, nor the most intelligent, but the ones most responsive
to change.” -Darwin
Now traditional recording studios have become a very luxurious commodity for some of the top
songwriters of the world. Which it is a very small percentage. Most of its quality it is still to this
date superior, but for the price and the pressure it might bring to an artist, most of the times it is
not worth it. Booking time in a professional recording studio can cost anywhere between $50 to
$500 dollars an hour. Most studios do include an audio engineer as part of their hourly rate.
There are new processes and ways to go about your quality and it comes not only for the
performance but by having a great audio engineer, mix engineer and mastering engineer, these
roles are still essential to this date, but the process to deliver to those professionals have changed
and there is prove that they are more
beneficial for the artist. Now writers also
have changed the way producers organize
their work and some don’t even play a musical instrument, the software becomes the instrument.
Within the DAW’s (Digital Work Station) most of them compose every process within the same
program from beginning till end. At any moment in time you can go back in time and see
different version during the process of the development. All of these changes simplifies the
whole system to a point where the skill of evolving and re-shaping it’s part of your craft as a
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creative. Most of traditional recording studios are used to record the final vocal in present times.
When you go to professional commercial studios most of them have fixed tape on the console
only for 2 channels of Pro Tools left and right outputs and a vox channel, then having around 20
channels unused for who knows how much time.
There are also negatives and collateral damage that affect other parts of the entertainment
industries when it comes to having easier production tools. For example: Now that production is
cheaper and more accessible, the content abundance has become at a very extreme level where
there is way to much content compared to the ones consumed. For example on the graph below
we can see the old model of entertainment value chain where I will compare to the modern value
chain:
As you can observe the devices where the medium was accessed was very limited and the
audience was predictably located mostly at their homes or at stable structures. Distribution was
also very well controlled with only a few networks and options. The production cost being so
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expensive made it a very important driving force in order to make content distributed. Now we
are going to see the modern entertainment value chain:
As you can see now with the different mediums and diverse audience the content creation has
become a very common practice and easier distributed but harder to reach specific markets. That
is why working on technologies that benefit even more the content creators is a great business
now that there is more content that actual listeners. Capturing attention has become the most
luxurious asset for any business or public figure, it is part of their survival. The distributors that
have the reach to most “popular” avenues normally are affiliated with mayor companies or
corporations that have a lot of budgets.
Now that content is so easily done and quick. It has harmed the quality of the works. That is
where the Ontittled team can come in with great engineers and producers to quality control.
The market size of the entertainment industry and it’s creatives have benefited from this digital
centralization and the processing power’s growth. It has broken the crowd of middle man that
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where taking a lot of revenues from the actual creators. Another beneficial factor on the digital
world is that when something connects with the mainstream there is no turning back, the
majority of people choose now and you can see it in the data with the numbers and responses.
Before it used to be affiliated corporations that benefited from each others industry with content
manipulation.
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Business Competition
The main competitors we will be facing are the websites that common travelers look for when
visiting other places to stay like: hotels, home sharing apps like Air Bnb, hostels, etc. The main
challenge for the customer would be trying to find professional recording equipment in the
different locations or shipping them which is an inconvenience and a big expense. The monitor
speakers by itself with their weight and size will consume energy, time with also the installation
in the right acoustic space. The closest competitor Ontti Labs faces is an app called
Studiotime.io, this platform is only implemented at the moment in New York, Los Angeles and
London. It is affiliated with Air Bnb which it is a great advantage for them, but they have a
downside, they are still very expensive and the accommodation is not included on the service.
Most of those studios include an overload of devices that are not necessary which can easily
become a distraction for the writers. The type of production development that will happen in
Ontti Labs will be based on the construction of
projects which is why having your
accommodation very close is important for us,
it can be very beneficial because it helps with
your productivity and experience of the
process overall. Most of the studios on
Studiotime.io platform have a lot of
unnecessary equipment for the creatives we
want to acquire as clients which it would be on
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the first phase project building at comfort. Focused mostly on song constructing, producing and
solid main sample foundations. Studiotime.io platform in my opinion is more useful for Mix
Engineers and Mastering Engineers, which is a process when most of the songs are already built.
The thing that differentiates us is the equipment being consistent and personnel needed for a
quality recording in a home and comfort environment with more affordable prices almost as
much as a normal property you will have in a standard Air Bnb home.
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Strategic Partnerships:
We are in the process of building relationships with notable
industry leaders, influencers, and development teams in the music
tech world. Since the rapid growth of tech, most professional
recording studios are suffering as mentioned above. This have cost
losing clients and studio’s have been closing since the early 2,000’s.
Because of devices like the one shown the Fairlight MFX3 who
was one of the pioneers in condensing the recording studios. Mostly the legendary studios with
great history are running. They are pricing at a premium level where most creatives can not
afford. Laptops capabilities have excelled quality and
now you can make a great record from it with some extra
equipment to support it. Contrary to a major studio
where the quality is still superior but the amount of
money to run a studio at that level makes the price hard
to be attractive for the average writer who just wants to
have fun and have the least pressure possible while making what they love. Most tracks now are
being done in their home.
“ Technology goes beyond mere tool making; it is a process of creating ever more powerful
technology using the tools from the previous round of innovation.” –Ray Kurzwexil
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A great ear can take you to a lot of places, you don’t even have to play an instrument, you can
basically write the note on the key and alter them until they sound appealing to your ear with
present or the alteration of amazing sounding samples you can access for free on the internet.
SWOT Analysis
Strengths = Unique platform with tools that help any creative be productive while exploring
other parts of the world. Collaboration benefits towards the process of project building.
Weakness = There is not much budget currently, only a few interested properties that are
interested. The most direct competitor is affiliated with Air Bnb which is a big disadvantage.
Opportunities = New ways of finding talent in the different parts of the world where different
businesses and relation can keep evolving into better customer service.
Threats = Losing customers for better locations that the labels may offer them. Major labels
might become a big threat, because they have affiliation with traditional studios and big amount
of budgets where the few artists who have the freedom to choose any premium level of service.
Market Positioning
I believe we can make our perceived benefits high and price fairly low compared to major
studios. It could become very disruptive as long as the Ontittled brand keeps getting better
reputation and we attract more creatives.
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Customer Segmentation
The ideal buyers or what we call creatives will be mostly focused on recent signed artists in
labels, for songwriters who need to pitch songs for A&Rs, Ad agencies that need space for
producing, private live event organizations and just all content creation who wish to explore
different sounds and styles of the world. We are looking for professionals who have a consistent
income.
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The 3 customer segments defining Ontti Lab’s Business Model:
Hosts:
-Host are the participants who own the homes they put on the platform and want to earn some
money by renting their available space.
-Hosts can accept or refuse a reservation after reading the comments of the creative or after
reviewing their social profiles.
-They can create a listing for your property on the platform, add most of the details it includes
and set your own rent, check-in, check-out, etc.
Creatives:
-Creatives can book a space by paying through the portal.
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-Creatives are the people who book the listed available home studios from local hosts.
-Creatives have the option to search for a home studio by filtering them according to rent,
amenities provided, location etc.
Post-production Freelancers:
-Ontittled has a vast network of freelance Producers, Mix engineers, Mastering Engineering in
most major cities of the world who go to a location and deliver their services to the writer if
needed for extra charge.
-The high quality service is added to their total and the freelance service is paid by Ontittled
directly.
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Market Research
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Customer Data:
In regards to consumer data, we conducted a survey on 48 potential customers who could be
interested in the service. The purpose of this survey was to test our necessity as to whether there
is enough interest towards the service and if they will be willing to purchase. The service so far
seems to offer value and appeal for the clients. Overall the service seemed to attract the creatives
but there is some doubt when it comes to its necessity.
Sample Survey:
Market Research - Online Production Hospitality Service
Testing
Ontti Labs Market Survey
“ Ontti Labs operates as a transaction facilitator between home studio owners and working
creatives who are looking for comfortable accommodation with the resources needed for their
project developments/global writing tours/writing camps/Sofar Sounds venues/etc. Basically Air
Bnb for home studios. Also, by providing the home studio owners protection insurance, as well as
a rating and review system, the platform builds trust within the community of users and lowers
transaction costs.”
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Summary of the results:
Q1 What is you first reaction to the service?
The first reaction in regarding to
the service seemed to be mostly
positive according to the
participants. As for this results the
concept seemed initially attractive
and interesting.
Q2 What is your main occupation?
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Here you can see the diversity of roles the participants have. The great majority is currently
working in creative industries. The others include lawyers, entrepreneurs, homeowners and more
entertainment industry related professionals. The “Other” category was one of the least attracted
to the service, where the lowest interest in usage appeared.
Q3 When you think about the service, do you think of it as something you need or don’t
need?
Here we are starting to have a separation
between a very large amount who think they
probably need, which means that they are not
100% convinced even though they think that
there is a big chance it is necessary but with
some level of uncertainty. Overall very
positive results on it’s mutuality. “Probably
need” is the most common answers in the survey.
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Q4 If the product were available today, how likely would you be to buy the service?
Here we can see who is willing to purchase
immediately. We have to take into account when it
comes to other factors that can affect their current
financial situation, their stability as creators and
their freedom to travel. All of this might be reasons
that affect the appeal to use or buy.
Q5 How likely is it that you would recommend our new product to a friend or colleague?
Here we see very mixed results but
still with mostly positive results and
engagement. Here is where I want to
improve the most.
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Marketing Plan
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Our main marketing strategy and the one we wish to keep most consistent on. With always
focusing in high quality content in order to produce natural word of mouth spread. As in create
genuine P2P interaction towards our service. We believe that if we embrace on being unique,
excellent and consistently effective then there will be no need for a lot of marketing spends. The
Marketing strategies involved in Ontti Labs will be mostly digitally based, also on educational
institutions, with selective brand partnerships, some artist’s collaborations and though a few
social event involvements.
We will like to keep track of all data in relation to the engagement of our services. Also
experiment with effective marketing tracking strategy campaigns focused on specific crowds or
geographical location in order to test sorten releases and art installations. We will scout for
specific customers with peculiar interests while experimenting with different dominant discovery
mechanism used with AI software and reverse engineer the process in order for them to find us.
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First main marketing campaign we will like to do after we have a few locations placed and the
platform is running will be called: “Be the first to record in space!!” It would be a sort of
“click-bait” strategy just to grab the users attention. Our main goal for this strategy is to attract as
much people possible to our website www.ontittled.com and make them get a taste of our
platform and experience hoping to gain some traction that engages and makes them return. At
first we will try to get any contact information for record to start categorising the potential
clients.
Here is what our first demo ad will sort of look like:
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Finding people that in the possibility of recording among the actual stars, the one who thinks out
of this world who believes in discovery and wonder, that is the kind of customer we would like
to have. Those are the people who Ontittled is looking for, and this ad is not necessarily a lie,
metaphorically speaking. I would love to pitch this idea to Amazon in the near future and use it
as an advantage for both parties, Amazon needing more traction on their streaming platforms
having big competitors in the music streaming world like Spotify, Apple Music, and others. This
could be a good move to attract music lovers and artists to get affiliated with the amazon brand
as a radical and refreshing company. Blue Origin being the affiliated company could be the main
resource to make a person record music in space and Ontti Labs getting part of Amazon varied
customer demographics could be a great opportunity for the growth of the project and company
overall.
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The first markets we are planning to aim specifically for the ads are the demographics involving
most young creative students and professionals from the ages 18-38 years old. We want to make
sure we have already placed a few Ontti Labs around the world and the platform is running. The
people who will get attracted to the idea of being able to record in space I believe will be people
who get our motto. We also want to include different forms of ads like short video and other
forms of advertising to get people curious about what Ontti Labs could be. The reality is that our
goal is to make you feel like you are out of this world, with the extraordinary experience you will
have while being at our platform or at an Ontti Lab. So it won't be necessarily false
advertisement it would be “out of this world” but not necessarily physically.
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Some in the strategies involved with our marketing will be also with exclusive behind the scenes
footage of the creation of the records of great writers who we sponsor to test the platform, that
way we can show the culture and the atmosphere involved in the creative offices.
One of our main objectives with the father company Ontittled is to create a community where
there is constant collaboration and evolvement within the platform, while also offering office
spaces. This community of creatives are part of our obsession to keep them in the platform and
vise versa, they needing our community platform to communicate with other innovators. The
second campaign we want to do is a collaboration with Sofar Sounds and to try our best to
become partners. We believe that Sofar
Sounds clients and audience can be very
similar to the one’s Ontti Labs is aiming
at, it could be a good interrelation
between both parties. Sofar Sounds is
reimagining the live event experience
through curated, intimate performances
in 434 cities around the world. This company is already very international and our services could
bring benefit to their clients. We could at some point supply the location for them within our
platform. One of our initial ideas towards the collaboration with Sofar is that when artists are
signing up to play on an event an Ontti Labs link appear on the registration process before they
purchase offering a space for them to use as accommodation but with the services of Ontti Labs
which include equipment and tools necessary for the artist to write or work on any project. Also
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potentially giving them the option to choose a venue where they would like to perform.
Both parties can benefit greatly from this campaign. We can connect from both the artist who
will be performing which normally they are at a level where most of the art still has strict budget
and not as much resources as major label artists which would have the majority of Sofar
performers which are not necessarily signed. We could also benefit by offering the space for the
Sofar events.
Sofar events take place in everyday spaces, such as living rooms or stores. Being secret and
intimate, it creates a unique experience that brings artists and audiences closer and returns magic
to live music. In each Sofar you will find three different acts, they will not have headliners.
Digital Presence
The website will be the main form of communication where users can rent out their space to host
travelers. On the main website will be a platform for the Ontittled community to explore and
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navigate within their taste and destination. Eventually we will have a Ontti Labs exclusive app
which will run separate from the main site. Only focusing on the home studio sharing platform.
-
Digital:
o Website: www.ontittled.com
o Art Blog: www.instagram.com/ontittled
Other Ways we are looking to connect to our customer will be with:
1.
Social Media (Facebook, Youtube, Twitter, Instagram, etc)
2.
Digital Marketing including Internet ads.
3.
Promotional offers
4.
Affiliate Model / Refer and earn offers
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Operational Plan
- - - - X
To make this project operate and actually functional as a business, I need to create a team of
smart people who are willing to work and think ahead of the current trends. Equipped with
patience and perseverance. We will always focus on quality over anything. I will use accountants
and lawyers in specific times needed as freelancers eventually having some permanence. The
main priority would be to find an experienced software developer who could help me build the
platform and potentially become partner of the company in exchange of equity. I will also need
an experienced visual designer and some management specialist who can help on the customer
service in the early stages. For the time being everything can work remotely. Most of the other
jobs like photographers, video editor and producers for the time being will have separate
temporary contracts by project.
The project will start being implemented in Puerto Rico, where I grew up. Properties at this
moment are at a very low valuation, making it a great time for investment. We might purchase a
home at a strategic location close to the beach and this could be one of the first destinations.
Puerto Rico has also a great harp of talent where the Ontittled community can start taking
advantage of.
Other close friends of mine have shown interest in adding their vacation properties in the
platform, one is a close friend where his parent have a vacation beach house where they will like
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to make extra money. My friend is from Ecuador and has a good network of creatives in the
country where we could both benefit from our services. Another person interested in a recently
known friend that his father has a property on Cape Cod, MA and will like to also be part of the
platform and also use it for his own benefit as an artist manager. I am also currently in
conversation with several industry professionals who will like to start implementing this project
in London and are interested in becoming a partner. I also met several distribution platform
founders who could eventually help in an affiliation for the distribution or actual collaboration
with their artist and our services. How I mentioned before recent encounter I stumbled upon was
the Adam Hasslert CEO of Soundation where I would love to implement some of his
revolutionary technology to our labs and hopefully develop future improvements and adaptations
based on the concept idea of his established software. The software is an online Digital Audio
Workstation(DAW) where you can record and produce music in different locations.
Our implementation plan will be:
First year
1.
Finishing developing the website
2.
Platform launch
3.
Get fund for first 3 home equipment investments
4.
Launch of first marketing campaign: “Be the first to record in space!!”
5.
By the first 8 month have 3 shared homes
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Second year:
1.
Platform analysis
2.
Marketing for user acquisition
3.
Look for affiliation with institutions (indie labels and art colleges)
4.
Keep expansion for at least 7 homes total
5.
Start investing on collaboration tool technologies
Third Year
1.
Platform analysis
2.
Have at least 12 shared homes live
3.
Industry Expansion (Fashion, Sports, Audiovusial, Brands)
Fourth year
1.
Platform analysis
2.
Growth into different entertainment sectors
3.
Marketing for user acquisition
4.
Have at least 18 shared homes live
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Financial Plan
- - - - X
Pricing Policy
The offers will vary depending on the location of the offices. The longer they stay the least it
will cost them for the day.
-The Registration to Ontti Labs will be free
-Ontti Labs charges 5% to creatives and 8% for home studio owners (hosts)
-Ontittled guarantees property owners equipment investment for up to $2.5k
Commission from property owners (hosts)
Ontittled charges flat 8% commission from hosts upon every booking done through the
platform.
Transaction Fee from creative (creatives)
Ontittled charges 5% of the booking amount as transaction charges from traveller upon every
confirmed booking
Other Transactions
For writers that are signed by Ontittled, they will have more of a subscription based model.
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They will have a bundle of benefits with production development services, flight discounts, and
easier access to more locations during the period of the subscription in exchange depending on
the client but it can be a percentage of their royalties, publishing, copyright or any other source
of revenue they might generate that is agreed upon.
Financial Projections
1. Required Capital
Operating
Amount
For 12
Per Month
Months
Monthly Fixed Expenses:
Expenses (OPEX) Legal and Accounting
$200.00
$2,400.00
Marketing and Advertising
$300.00
$3,600.00
Rent
$400.00
$4,800.00
Supplies/Stationary/Business
$168.00
Cards/Flyers
$14.00
Telephone & Utilities
$20.00
$240.00
Internet & Web-Hosting
$30.00
$360.00
Electricity
$30.00
$360.00
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Salaries (include owner) Payroll
Taxes at 12%
$36,000.00
$3,000.00
Monthly Fixed Expenses Sub-total
(I)
$3,994.00
$47,928.00
Capital Expenses Asset Purchases:
(CAPEX)
Software and Apps
$700.00
$700.00
Furniture etc.
$0.00
$0.00
$750.00
$750.00
Asset Purchase Sub-Total (II)
Startup Expenses You Pay Once:
Trademark & Business Registration
Legal and Accounting Organization
Costs
$500.00
$500.00
Licenses and Permits (PRO Blanket
Licenses & Stock Exchange)
$800.00
$800.00
Startup Expenses You Pay Once
Sub-total (III)
$2,454.00
$2,454.00
TOTAL EXPENSES (I+II+III)
$6,448.00
$50,382.00
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Contingency (10%)
$7,092.80
Total Estimated Cash Needed to Start For 12
$55,420.20
$55,420.20
Months (TOTAL EXPENSES +10%)
1. Legal and Accounting = I will allocate 2 hours per month for legal and accounting
consulting at a rate of $100 per hour.
2. Marketing and Advertising will focused mostly on digital advertising and promotional
content
3. For Rent I plan to work at an office space in my home I used a standard rate based
on the office size and the furniture is included also in this expense.
4. Mostly for business cards and office supplies.
5. It will cost $20 a month only paying for the minutes
6. It will include the Wix site account expenses + the site domain expenses.
7. For electricity, I used standard rates based on the office size and the usage I give
it while working
8. I will pay myself a salary of $3,000 monthly.
9. This is important in order for the different equipment to work, with the pre amp and
interface drivers.
10. The furniture it is included in the rent’s price.
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11. According to http://smallbusiness.chron.com/much-cost-trademark-business-name57181.html, Federal trademark registration starts at $275 for online registration not
including attorney's fees. We register Ontti Labs. State trademark fees will be 100 for
each. Lawyer fees to execute these registrations will be $750.
12. This will be the cost to create the standard form contract, which will be the basis for each
home studio. This will be a one-time fee, but we will have recurring costs of adjusting the
contract, customizing it and miscellaneous costs. These are reflected above.
Our invested capital of 50,000 dollars is based on our startup expenses and approximately 3
years of total estimated expenses during operation, which were just explained.
Pro-Forma Balance Sheet
The balance sheet outlined below accounts for 6 months in year 1 with a 10% increase over each
year after. My hypothesis is that after the company grows over time, we will be able to invest
higher profile projects, acquire more equipment and raise more funds with investors.
For the first year, we will depreciate our equipment over 3 years. In addition, we will take out a
$50,000 loan with 8% interest to be paid out in 36 months.
Balance Sheet (on DECEMBER 2016)
Year 1
Year 2
Year 3
ASSETS
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1 Current Assets
5,000.00
13,000.00
32,000.00
5,000.00
13,000.00
32,000.00
9,000.00
13,500.00
17,000.00
0.00
0.00
0.00
9,000.00
13,500.00
17,000.00
(1,300.00)
(2,900.00)
(6,700.00)
454.00
454.00
454.00
13,154.00
24,054.00
42,754.00
5 Current Liabilities
3,994.00
3,994.00
3,994.00
Accounts payable
0.00
15,000.00
15,000.00
Cash
2 Fixed Assets
Building
Equipment
Accumulated depreciation
3 Intangibles
4 TOTAL ASSETS
LIABILITIES and OWNER'S
EQUITY
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Accrued expenses payable
6 Long-term Liabilities
Bank loans
50,000.00
50,000.00
0.00
0.00
0.00
Accumulated retained earnings
13,578.00
24,508.00
43,208.00
Total Owner's Equity
13,578.00
39,508.00
73,208.00
13,154.00
24,054.00
42,754.00
7 Owner's Equity
Invested Capital
TOTAL LIABILITIES and
8 EQUITY
Pro-Forma Income Statement
This income statement is based on the expenses needed to start the company as well as the
following logic for the revenue every year:
● The first 6 months will work on installing the equipment with a minimum of 4 properties
in different locations, which each house equipment will cost around $1,500.
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● By the first year we should have around 6 properties each properties will have different
prices depending on the location and property.
● Depending on the different inflation of the areas an PPP the prices will differ.
After the first year, we predict that the income will increase at 10% every year.
Income Stament (As of DECEMBER 2016)
Year 1
1 Revenue
Year 2
Year 3
8,000.00
8,800.00
9,680.00
0.00
0.00
0.00
8,000.00
8,800.00
9,680.00
SG&A
6,578.00
6,578.00
6,578.00
- Depreciation Expenses
(100.00)
(100.00)
(100.00)
14,478.00
15,278.00
16,158.00
0.00
0.00
0.00
- Cost of Sales / COGS
2 GROSS PROFIT
- Administrative Expense /
3 OPERATING PROFIT
(EBIT)
-/+ Dividends and Interest
Income
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- Interest Expense
4 PROFIT BEFORE TAXES
(900.00)
(900.00)
(900.00)
13,578.00
14,378.00
15,258.00
0%
0%
0%
13,578.00
14,378.00
15,258.00
Taxes
5 NET PROFIT
Pro-Forma Cash Flow Statement
Cash-Flow Statement (as of DECEMBER 2016)
Year 1
Year 2
Year 3
INFLOW AND OUTFLOW
1 Funds provided by:
Receipts #1
Interest income
0
Invested capital
50,000
TOTAL FUNDS IN
50,000
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0
0
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2 Funds used for:
Cost of goods acquired
Distribution fees
SG&A
Interest expense
0
0
0
Taxes
0
0
0
9000
13500
17000
Long-term debt reduction
0
0
0
Distribution owners
0
0
0
41000
27500
10500
41000
27500
10500
0
0
0
Building and equipemnt
3 NET CHANGE IN CASH POSITION (Total Funds In Total Funds Out)
CHANGES BY ACCOUNT
4 Changes in Liquid Assets
Cash
Investment Portfolios
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TOTAL CHANGES
41000
27500
10500
41000
27500
10500
5 NET CHANGE IN CASH POSITION (Total Funds In Total Funds Out)
1. Year 0 includes $50k that we will use out of the bank to start the company. That money
will primarily be used for a rent deposit and studio setup cost.
2. Building and equipment costs, receipts (revenue), invested capital, and COGS are
covered in the previous sections.
6.5Cash Burn Rate
This is the projected cash burn rate for the first 6-months of business. As you will see, we will
incur the most costs pre-start up in order to start the business properly.
Cash-Flow Statement (For the first 6-month)
Pre-Startup
Month 1
450
Month 2
540
Month 3
Month 4
648
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777.6
Month 5
933.12
Month 6
1119.744
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-$2,454.00
10
10
10
10
10
10
460
550
658
787.6
943.12
1129.744
-600
-600
-600
-600
-600
-600
-350
-350
-350
-350
-350
-350
-150
-150
-150
-150
-150
-150
-640
-550
-442
-312.4
-156.88
29.744
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6000
$3,546.00 $2,906.00 $2,356.00 $1,914.00
$1,601.60 $1,444.72 $1,474.46
Appendix
- - - - X
SRI BHARATHI FILTERS. "World Map Visual." Digital image. SRI BHARATHI FILTERS.
http://filters.sribharathi.com/aboutus/company/.
Milfortf Asset. "Accelerating Growth Chart." Milford Asset. December 08, 2017. Accessed June
15, 2019.
https://milfordasset.com/insights/missing-xeros/accelerating-growth-in-technology-2017.
Webb, Joe. "The Great Indoors III." Digital image. Joe Webb Art. https://www.joewebbart.com.
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Manu Fernandez
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- - - - X
Executive Summary
Ontti Labs operates as a transaction facilitator between home studio owners and working
creatives who are looking for comfortable accommodation with the resources needed for their
project developments. By providing the home studio owner protection insurance, as well as a
rating and review system, the platform builds trust within the community of users and lowers
transaction costs. Profiles and user reviews help to build better customer attention, reputation and
trust among the Ontittled community.
The following business plan outlines the details for Ontittled’s latest project which will be
helping the company prioritize in quality production, developments of creatives and on project
based works. Ontittled is a brand for art, love and greater lifestyle. The main characteristics the
company would focus on is minimalism in contrast with nature, irony, futurism, fantasies,
realities, luxury, history and reflection.
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Ontittled Company’s subdivision called Ontti Labs
short for Ontittled Laboratories, will be the main
priority. It will be an independent project that will
serve as hotels for recording studios, prioritizing a
home-like and comfortable atmosphere. They will be
spread around the world suited with Hi-end
equipment. The structure model is based on other
shared home platforms like Air Bnb, where most of
the resources come from the host of the property but
our majority of contribution will be with the easily
accessible community platform, built in collaboration tools, the equipment included in the
homes, and if needed extra charges for the services of project building like audio engineering,
producers, music supervision, conductors, etc. All of these homes will hope to inspire the
creatives at a whole new level while at the same time providing them the opportunity to build
efficiently. The local community where it is built, will have a sort of quota on priority for the
creatives in the areas. Which we will offer deals for artists in the near future in exchange of
publishing, marketing strategies and distribution. A selective roster of profiles will have the
opportunity to become part of the Ontittled art development team.
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Project Director
- - - - X
The Ontti Labs concept was envisioned by Founder & Project Director
Manu Fernandez, a strong Audio Engineering professional who found
passion for entrepreneurship and has become an experienced content
producer with a demonstrated history of working in the entertainment
industry. Skilled in several DAW's, songwriting, studio recordings and marketing (digital,
streaming services, content creation and online platforms).
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Value Proposition
- - - - X
The main benefits the buyer will have for Ontti Labs is that they will have an advantage with a
variety of options in places of pure experiential, productive and global flexibility. For any
creator, that is the main source needed if compared to an ordinary office. We will supply access
to different office spaces around the world, which are going to be basically home studios shaped
for their needs as writers, record producers, project developers, designers, mix engineers, music
supervisors, tour managers and homeowners. We will include consistency of equipment in all of
the homes. I want them to be productive and add to their muse and search for inspiration. This
“offices” will be home studios in a shared home platform but with the featured tools needed for
collaboration between them and eventually build a software that connect seaninglessly with other
rooms in the Ontti Labs locations, my dream will be implementing a sort of hologram system
where the world gets as big as a room. I met Adam Hasslert, CEO of Soundation which is a
company that offers a DAW software that can be controlled from different computers and
locations. Similar tools will be affiliated with Ontti Labs.
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I believe that bringing great tools that benefit collaborations will be a great asset to possess
because it will be a tool that most businesses in the world will need at some point if is something
that makes them perform at their best level. Enabling better communication and empathy
towards other communities around the world. Team collaboration is one of the most basic bases
of a business and I believe it is a very powerful thing to contribute in the creative process in any
business directly or indirectly. Even more now that there is more content produced than actually
consumed.
We will also bring business to the owners of the properties (B2B), where they can use their assets
to make profits. We will only allow properties on the platform as whole houses. Some apartments
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might be available depending on the circumstance. We will also offer convenience to the clients
in order for them to work at their efficiently with other services that include audio engineer,
recording assistants, mix engineers, mastering engineers, songwriters, composers, arranges and
all other creative services needed for project developments. All of this will happen beforehand in
the online platform between the creatives and service freelancers.
Other benefits users will gain:
-Convenience = A place where they can create to a capacity that the property becomes an
instrument as a whole.
-Enhanced experiences = Being presented by different surroundings adds new perspective
and approach.
-The opportunity to network in the different scenes = Building networks and putting your
art in different eyes is very valuable data for future developments.
-Let's the owners list their space on the platform and earn rental money = Different
markets meeting at a middle point and mutually benefiting from each other.
-Provides insurance to listed properties = In order to gain trust and loyalty we have to
deliver commitment towards their security.
-Facilitates the process of booking living space for the writers = The platform does simple
transactions with user friendly navigation.
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-Rating and review system for home studio owners and writers = Instant quality assurance
for our team to take action towards the property owner’s eligibility.
-User-friendly web and app based structure = Basic program maneuvering and
organization.
“ Technology goes beyond mere tool making; it is a process of creating ever more powerful
technology using the tools from the previous round of innovation.” –Ray Kurzwexil
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Environment Analysis
- - - - X
Market Opportunity
An enormous need exists for a space where people can be productive and inspired while they
create a project around the world with a consistent quality sound. With the whole system
changing it’s a different way of consumption and use in the digital world. It has completely
re-shaped the whole process. Now technology is giving the chance to any person willing to
understand and use the programs as methods of complete expression and digital connection.
There is no stopping the progression of the inability of the fusion of tech and the way we
consume art. We have to embrace it.
With the traditional recording studios becoming always
so luxurious and expensive, it adds pressure to the
artist and focus towards their goal. The quality of the
art and meaning is suffering. It is ruining the upcoming
generations, there is way too much content with no real
dept. The consumer is starting to get used to this level
of work and expecting the obvious. We believe we can
create an environment with a surrealistic out of this
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world vibe that will deliver a service where the influencer just has to focus on what they love.
We will like to also bring new concepts and terms that hopefully become industry standards, for
example the term “Writing tour” we think this could be a new innovative concept that I haven’t
ever heard before and it could be implemented through Ontti Labs culture as a platform. “A new
way of building an album by doing a writing tour!” For example: maybe, record the drums in
Thailand, then the guitars/bass in Honk Kong and vocals in Japan. Eventually bringing also tech
that facilitates communication interchangeability between the locations. My most ambitious
mission is to have a technology where you can basically appear in the room and feel like you are
all in the same room, not mattering what part of the world as long as you are in another Ontti
Lab. This is why new fresh perspectives from younger generation teams will soon dominate and
anticipate most trends, because we are knowledgeable and understand how it works and how to
experience it. We grew up with it mostly as ordinary family setting understanding technology as
it happened. This sort of collaborative tech
tool for me would be revolutionary and will
make the world as small as an Ontti Lab.
Project development would become a much
easier task with a tool that transports your
actions in real-time seeming physically
present.
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Major Trends
With rapid technology advancements of recent times, most tools and devices used to create and
consume content have completely changed and have shaped to new ways we interact with them.
Now we have smaller and more independable devices that adapt to our own life’s needs and
fuses itself with our own reality, becoming an extension to a human’s capabilities and senses. We
are living in a time of
opportunity and growth,
this is just the beginning
of almost complete
technological
dependency. Our world
just started to change
rapidly. Most
information, social
interactions,
communication and
entertainment are happening all in a few devices, it gives enough proof of the impact and
behaviour patterns it has influenced in our day to day. All of this hasn't only benefited the
consumers options of content, but also the producer’s and all creators way of thinking, with more
alternative for a B2C direct connection. This is why it is important to build new products that
give tools for creatives which helps them adapt to this advancements in a smooth and beneficial
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way. Having the option to create in different parts around the world will benefit your muse while
having the tools place for the creatives to keep their productivity engaged independently or
within a group.
“ It is not the strongest species that survive, nor the most intelligent, but the ones most responsive
to change.” -Darwin
Now traditional recording studios have become a very luxurious commodity for some of the top
songwriters of the world. Which it is a very small percentage. Most of its quality it is still to this
date superior, but for the price and the pressure it might bring to an artist, most of the times it is
not worth it. Booking time in a professional recording studio can cost anywhere between $50 to
$500 dollars an hour. Most studios do include an audio engineer as part of their hourly rate.
There are new processes and ways to go about your quality and it comes not only for the
performance but by having a great audio engineer, mix engineer and mastering engineer, these
roles are still essential to this date, but the process to deliver to those professionals have changed
and there is prove that they are more
beneficial for the artist. Now writers also
have changed the way producers organize
their work and some don’t even play a musical instrument, the software becomes the instrument.
Within the DAW’s (Digital Work Station) most of them compose every process within the same
program from beginning till end. At any moment in time you can go back in time and see
different version during the process of the development. All of these changes simplifies the
whole system to a point where the skill of evolving and re-shaping it’s part of your craft as a
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creative. Most of traditional recording studios are used to record the final vocal in present times.
When you go to professional commercial studios most of them have fixed tape on the console
only for 2 channels of Pro Tools left and right outputs and a vox channel, then having around 20
channels unused for who knows how much time.
There are also negatives and collateral damage that affect other parts of the entertainment
industries when it comes to having easier production tools. For example: Now that production is
cheaper and more accessible, the content abundance has become at a very extreme level where
there is way to much content compared to the ones consumed. For example on the graph below
we can see the old model of entertainment value chain where I will compare to the modern value
chain:
As you can observe the devices where the medium was accessed was very limited and the
audience was predictably located mostly at their homes or at stable structures. Distribution was
also very well controlled with only a few networks and options. The production cost being so
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expensive made it a very important driving force in order to make content distributed. Now we
are going to see the modern entertainment value chain:
As you can see now with the different mediums and diverse audience the content creation has
become a very common practice and easier distributed but harder to reach specific markets. That
is why working on technologies that benefit even more the content creators is a great business
now that there is more content that actual listeners. Capturing attention has become the most
luxurious asset for any business or public figure, it is part of their survival. The distributors that
have the reach to most “popular” avenues normally are affiliated with mayor companies or
corporations that have a lot of budgets.
Now that content is so easily done and quick. It has harmed the quality of the works. That is
where the Ontittled team can come in with great engineers and producers to quality control.
The market size of the entertainment industry and it’s creatives have benefited from this digital
centralization and the processing power’s growth. It has broken the crowd of middle man that
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where taking a lot of revenues from the actual creators. Another beneficial factor on the digital
world is that when something connects with the mainstream there is no turning back, the
majority of people choose now and you can see it in the data with the numbers and responses.
Before it used to be affiliated corporations that benefited from each others industry with content
manipulation.
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Business Competition
The main competitors we will be facing are the websites that common travelers look for when
visiting other places to stay like: hotels, home sharing apps like Air Bnb, hostels, etc. The main
challenge for the customer would be trying to find professional recording equipment in the
different locations or shipping them which is an inconvenience and a big expense. The monitor
speakers by itself with their weight and size will consume energy, time with also the installation
in the right acoustic space. The closest competitor Ontti Labs faces is an app called
Studiotime.io, this platform is only implemented at the moment in New York, Los Angeles and
London. It is affiliated with Air Bnb which it is a great advantage for them, but they have a
downside, they are still very expensive and the accommodation is not included on the service.
Most of those studios include an overload of devices that are not necessary which can easily
become a distraction for the writers. The type of production development that will happen in
Ontti Labs will be based on the construction of
projects which is why having your
accommodation very close is important for us,
it can be very beneficial because it helps with
your productivity and experience of the
process overall. Most of the studios on
Studiotime.io platform have a lot of
unnecessary equipment for the creatives we
want to acquire as clients which it would be on
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the first phase project building at comfort. Focused mostly on song constructing, producing and
solid main sample foundations. Studiotime.io platform in my opinion is more useful for Mix
Engineers and Mastering Engineers, which is a process when most of the songs are already built.
The thing that differentiates us is the equipment being consistent and personnel needed for a
quality recording in a home and comfort environment with more affordable prices almost as
much as a normal property you will have in a standard Air Bnb home.
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Strategic Partnerships:
We are in the process of building relationships with notable
industry leaders, influencers, and development teams in the music
tech world. Since the rapid growth of tech, most professional
recording studios are suffering as mentioned above. This have cost
losing clients and studio’s have been closing since the early 2,000’s.
Because of devices like the one shown the Fairlight MFX3 who
was one of the pioneers in condensing the recording studios. Mostly the legendary studios with
great history are running. They are pricing at a premium level where most creatives can not
afford. Laptops capabilities have excelled quality and
now you can make a great record from it with some extra
equipment to support it. Contrary to a major studio
where the quality is still superior but the amount of
money to run a studio at that level makes the price hard
to be attractive for the average writer who just wants to
have fun and have the least pressure possible while making what they love. Most tracks now are
being done in their home.
“ Technology goes beyond mere tool making; it is a process of creating ever more powerful
technology using the tools from the previous round of innovation.” –Ray Kurzwexil
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A great ear can take you to a lot of places, you don’t even have to play an instrument, you can
basically write the note on the key and alter them until they sound appealing to your ear with
present or the alteration of amazing sounding samples you can access for free on the internet.
SWOT Analysis
Strengths = Unique platform with tools that help any creative be productive while exploring
other parts of the world. Collaboration benefits towards the process of project building.
Weakness = There is not much budget currently, only a few interested properties that are
interested. The most direct competitor is affiliated with Air Bnb which is a big disadvantage.
Opportunities = New ways of finding talent in the different parts of the world where different
businesses and relation can keep evolving into better customer service.
Threats = Losing customers for better locations that the labels may offer them. Major labels
might become a big threat, because they have affiliation with traditional studios and big amount
of budgets where the few artists who have the freedom to choose any premium level of service.
Market Positioning
I believe we can make our perceived benefits high and price fairly low compared to major
studios. It could become very disruptive as long as the Ontittled brand keeps getting better
reputation and we attract more creatives.
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Customer Segmentation
The ideal buyers or what we call creatives will be mostly focused on recent signed artists in
labels, for songwriters who need to pitch songs for A&Rs, Ad agencies that need space for
producing, private live event organizations and just all content creation who wish to explore
different sounds and styles of the world. We are looking for professionals who have a consistent
income.
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The 3 customer segments defining Ontti Lab’s Business Model:
Hosts:
-Host are the participants who own the homes they put on the platform and want to earn some
money by renting their available space.
-Hosts can accept or refuse a reservation after reading the comments of the creative or after
reviewing their social profiles.
-They can create a listing for your property on the platform, add most of the details it includes
and set your own rent, check-in, check-out, etc.
Creatives:
-Creatives can book a space by paying through the portal.
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-Creatives are the people who book the listed available home studios from local hosts.
-Creatives have the option to search for a home studio by filtering them according to rent,
amenities provided, location etc.
Post-production Freelancers:
-Ontittled has a vast network of freelance Producers, Mix engineers, Mastering Engineering in
most major cities of the world who go to a location and deliver their services to the writer if
needed for extra charge.
-The high quality service is added to their total and the freelance service is paid by Ontittled
directly.
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Market Research
- - - - X
Customer Data:
In regards to consumer data, we conducted a survey on 48 potential customers who could be
interested in the service. The purpose of this survey was to test our necessity as to whether there
is enough interest towards the service and if they will be willing to purchase. The service so far
seems to offer value and appeal for the clients. Overall the service seemed to attract the creatives
but there is some doubt when it comes to its necessity.
Sample Survey:
Market Research - Online Production Hospitality Service
Testing
Ontti Labs Market Survey
“ Ontti Labs operates as a transaction facilitator between home studio owners and working
creatives who are looking for comfortable accommodation with the resources needed for their
project developments/global writing tours/writing camps/Sofar Sounds venues/etc. Basically Air
Bnb for home studios. Also, by providing the home studio owners protection insurance, as well as
a rating and review system, the platform builds trust within the community of users and lowers
transaction costs.”
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Summary of the results:
Q1 What is you first reaction to the service?
The first reaction in regarding to
the service seemed to be mostly
positive according to the
participants. As for this results the
concept seemed initially attractive
and interesting.
Q2 What is your main occupation?
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Here you can see the diversity of roles the participants have. The great majority is currently
working in creative industries. The others include lawyers, entrepreneurs, homeowners and more
entertainment industry related professionals. The “Other” category was one of the least attracted
to the service, where the lowest interest in usage appeared.
Q3 When you think about the service, do you think of it as something you need or don’t
need?
Here we are starting to have a separation
between a very large amount who think they
probably need, which means that they are not
100% convinced even though they think that
there is a big chance it is necessary but with
some level of uncertainty. Overall very
positive results on it’s mutuality. “Probably
need” is the most common answers in the survey.
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Q4 If the product were available today, how likely would you be to buy the service?
Here we can see who is willing to purchase
immediately. We have to take into account when it
comes to other factors that can affect their current
financial situation, their stability as creators and
their freedom to travel. All of this might be reasons
that affect the appeal to use or buy.
Q5 How likely is it that you would recommend our new product to a friend or colleague?
Here we see very mixed results but
still with mostly positive results and
engagement. Here is where I want to
improve the most.
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Marketing Plan
- - - - X
Our main marketing strategy and the one we wish to keep most consistent on. With always
focusing in high quality content in order to produce natural word of mouth spread. As in create
genuine P2P interaction towards our service. We believe that if we embrace on being unique,
excellent and consistently effective then there will be no need for a lot of marketing spends. The
Marketing strategies involved in Ontti Labs will be mostly digitally based, also on educational
institutions, with selective brand partnerships, some artist’s collaborations and though a few
social event involvements.
We will like to keep track of all data in relation to the engagement of our services. Also
experiment with effective marketing tracking strategy campaigns focused on specific crowds or
geographical location in order to test sorten releases and art installations. We will scout for
specific customers with peculiar interests while experimenting with different dominant discovery
mechanism used with AI software and reverse engineer the process in order for them to find us.
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First main marketing campaign we will like to do after we have a few locations placed and the
platform is running will be called: “Be the first to record in space!!” It would be a sort of
“click-bait” strategy just to grab the users attention. Our main goal for this strategy is to attract as
much people possible to our website www.ontittled.com and make them get a taste of our
platform and experience hoping to gain some traction that engages and makes them return. At
first we will try to get any contact information for record to start categorising the potential
clients.
Here is what our first demo ad will sort of look like:
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Finding people that in the possibility of recording among the actual stars, the one who thinks out
of this world who believes in discovery and wonder, that is the kind of customer we would like
to have. Those are the people who Ontittled is looking for, and this ad is not necessarily a lie,
metaphorically speaking. I would love to pitch this idea to Amazon in the near future and use it
as an advantage for both parties, Amazon needing more traction on their streaming platforms
having big competitors in the music streaming world like Spotify, Apple Music, and others. This
could be a good move to attract music lovers and artists to get affiliated with the amazon brand
as a radical and refreshing company. Blue Origin being the affiliated company could be the main
resource to make a person record music in space and Ontti Labs getting part of Amazon varied
customer demographics could be a great opportunity for the growth of the project and company
overall.
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The first markets we are planning to aim specifically for the ads are the demographics involving
most young creative students and professionals from the ages 18-38 years old. We want to make
sure we have already placed a few Ontti Labs around the world and the platform is running. The
people who will get attracted to the idea of being able to record in space I believe will be people
who get our motto. We also want to include different forms of ads like short video and other
forms of advertising to get people curious about what Ontti Labs could be. The reality is that our
goal is to make you feel like you are out of this world, with the extraordinary experience you will
have while being at our platform or at an Ontti Lab. So it won't be necessarily false
advertisement it would be “out of this world” but not necessarily physically.
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Some in the strategies involved with our marketing will be also with exclusive behind the scenes
footage of the creation of the records of great writers who we sponsor to test the platform, that
way we can show the culture and the atmosphere involved in the creative offices.
One of our main objectives with the father company Ontittled is to create a community where
there is constant collaboration and evolvement within the platform, while also offering office
spaces. This community of creatives are part of our obsession to keep them in the platform and
vise versa, they needing our community platform to communicate with other innovators. The
second campaign we want to do is a collaboration with Sofar Sounds and to try our best to
become partners. We believe that Sofar
Sounds clients and audience can be very
similar to the one’s Ontti Labs is aiming
at, it could be a good interrelation
between both parties. Sofar Sounds is
reimagining the live event experience
through curated, intimate performances
in 434 cities around the world. This company is already very international and our services could
bring benefit to their clients. We could at some point supply the location for them within our
platform. One of our initial ideas towards the collaboration with Sofar is that when artists are
signing up to play on an event an Ontti Labs link appear on the registration process before they
purchase offering a space for them to use as accommodation but with the services of Ontti Labs
which include equipment and tools necessary for the artist to write or work on any project. Also
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potentially giving them the option to choose a venue where they would like to perform.
Both parties can benefit greatly from this campaign. We can connect from both the artist who
will be performing which normally they are at a level where most of the art still has strict budget
and not as much resources as major label artists which would have the majority of Sofar
performers which are not necessarily signed. We could also benefit by offering the space for the
Sofar events.
Sofar events take place in everyday spaces, such as living rooms or stores. Being secret and
intimate, it creates a unique experience that brings artists and audiences closer and returns magic
to live music. In each Sofar you will find three different acts, they will not have headliners.
Digital Presence
The website will be the main form of communication where users can rent out their space to host
travelers. On the main website will be a platform for the Ontittled community to explore and
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navigate within their taste and destination. Eventually we will have a Ontti Labs exclusive app
which will run separate from the main site. Only focusing on the home studio sharing platform.
-
Digital:
o Website: www.ontittled.com
o Art Blog: www.instagram.com/ontittled
Other Ways we are looking to connect to our customer will be with:
1.
Social Media (Facebook, Youtube, Twitter, Instagram, etc)
2.
Digital Marketing including Internet ads.
3.
Promotional offers
4.
Affiliate Model / Refer and earn offers
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Operational Plan
- - - - X
To make this project operate and actually functional as a business, I need to create a team of
smart people who are willing to work and think ahead of the current trends. Equipped with
patience and perseverance. We will always focus on quality over anything. I will use accountants
and lawyers in specific times needed as freelancers eventually having some permanence. The
main priority would be to find an experienced software developer who could help me build the
platform and potentially become partner of the company in exchange of equity. I will also need
an experienced visual designer and some management specialist who can help on the customer
service in the early stages. For the time being everything can work remotely. Most of the other
jobs like photographers, video editor and producers for the time being will have separate
temporary contracts by project.
The project will start being implemented in Puerto Rico, where I grew up. Properties at this
moment are at a very low valuation, making it a great time for investment. We might purchase a
home at a strategic location close to the beach and this could be one of the first destinations.
Puerto Rico has also a great harp of talent where the Ontittled community can start taking
advantage of.
Other close friends of mine have shown interest in adding their vacation properties in the
platform, one is a close friend where his parent have a vacation beach house where they will like
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to make extra money. My friend is from Ecuador and has a good network of creatives in the
country where we could both benefit from our services. Another person interested in a recently
known friend that his father has a property on Cape Cod, MA and will like to also be part of the
platform and also use it for his own benefit as an artist manager. I am also currently in
conversation with several industry professionals who will like to start implementing this project
in London and are interested in becoming a partner. I also met several distribution platform
founders who could eventually help in an affiliation for the distribution or actual collaboration
with their artist and our services. How I mentioned before recent encounter I stumbled upon was
the Adam Hasslert CEO of Soundation where I would love to implement some of his
revolutionary technology to our labs and hopefully develop future improvements and adaptations
based on the concept idea of his established software. The software is an online Digital Audio
Workstation(DAW) where you can record and produce music in different locations.
Our implementation plan will be:
First year
1.
Finishing developing the website
2.
Platform launch
3.
Get fund for first 3 home equipment investments
4.
Launch of first marketing campaign: “Be the first to record in space!!”
5.
By the first 8 month have 3 shared homes
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Second year:
1.
Platform analysis
2.
Marketing for user acquisition
3.
Look for affiliation with institutions (indie labels and art colleges)
4.
Keep expansion for at least 7 homes total
5.
Start investing on collaboration tool technologies
Third Year
1.
Platform analysis
2.
Have at least 12 shared homes live
3.
Industry Expansion (Fashion, Sports, Audiovusial, Brands)
Fourth year
1.
Platform analysis
2.
Growth into different entertainment sectors
3.
Marketing for user acquisition
4.
Have at least 18 shared homes live
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Financial Plan
- - - - X
Pricing Policy
The offers will vary depending on the location of the offices. The longer they stay the least it
will cost them for the day.
-The Registration to Ontti Labs will be free
-Ontti Labs charges 5% to creatives and 8% for home studio owners (hosts)
-Ontittled guarantees property owners equipment investment for up to $2.5k
Commission from property owners (hosts)
Ontittled charges flat 8% commission from hosts upon every booking done through the
platform.
Transaction Fee from creative (creatives)
Ontittled charges 5% of the booking amount as transaction charges from traveller upon every
confirmed booking
Other Transactions
For writers that are signed by Ontittled, they will have more of a subscription based model.
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They will have a bundle of benefits with production development services, flight discounts, and
easier access to more locations during the period of the subscription in exchange depending on
the client but it can be a percentage of their royalties, publishing, copyright or any other source
of revenue they might generate that is agreed upon.
Financial Projections
1. Required Capital
Operating
Amount
For 12
Per Month
Months
Monthly Fixed Expenses:
Expenses (OPEX) Legal and Accounting
$200.00
$2,400.00
Marketing and Advertising
$300.00
$3,600.00
Rent
$400.00
$4,800.00
Supplies/Stationary/Business
$168.00
Cards/Flyers
$14.00
Telephone & Utilities
$20.00
$240.00
Internet & Web-Hosting
$30.00
$360.00
Electricity
$30.00
$360.00
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Salaries (include owner) Payroll
Taxes at 12%
$36,000.00
$3,000.00
Monthly Fixed Expenses Sub-total
(I)
$3,994.00
$47,928.00
Capital Expenses Asset Purchases:
(CAPEX)
Software and Apps
$700.00
$700.00
Furniture etc.
$0.00
$0.00
$750.00
$750.00
Asset Purchase Sub-Total (II)
Startup Expenses You Pay Once:
Trademark & Business Registration
Legal and Accounting Organization
Costs
$500.00
$500.00
Licenses and Permits (PRO Blanket
Licenses & Stock Exchange)
$800.00
$800.00
Startup Expenses You Pay Once
Sub-total (III)
$2,454.00
$2,454.00
TOTAL EXPENSES (I+II+III)
$6,448.00
$50,382.00
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Contingency (10%)
$7,092.80
Total Estimated Cash Needed to Start For 12
$55,420.20
$55,420.20
Months (TOTAL EXPENSES +10%)
1. Legal and Accounting = I will allocate 2 hours per month for legal and accounting
consulting at a rate of $100 per hour.
2. Marketing and Advertising will focused mostly on digital advertising and promotional
content
3. For Rent I plan to work at an office space in my home I used a standard rate based
on the office size and the furniture is included also in this expense.
4. Mostly for business cards and office supplies.
5. It will cost $20 a month only paying for the minutes
6. It will include the Wix site account expenses + the site domain expenses.
7. For electricity, I used standard rates based on the office size and the usage I give
it while working
8. I will pay myself a salary of $3,000 monthly.
9. This is important in order for the different equipment to work, with the pre amp and
interface drivers.
10. The furniture it is included in the rent’s price.
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11. According to http://smallbusiness.chron.com/much-cost-trademark-business-name57181.html, Federal trademark registration starts at $275 for online registration not
including attorney's fees. We register Ontti Labs. State trademark fees will be 100 for
each. Lawyer fees to execute these registrations will be $750.
12. This will be the cost to create the standard form contract, which will be the basis for each
home studio. This will be a one-time fee, but we will have recurring costs of adjusting the
contract, customizing it and miscellaneous costs. These are reflected above.
Our invested capital of 50,000 dollars is based on our startup expenses and approximately 3
years of total estimated expenses during operation, which were just explained.
Pro-Forma Balance Sheet
The balance sheet outlined below accounts for 6 months in year 1 with a 10% increase over each
year after. My hypothesis is that after the company grows over time, we will be able to invest
higher profile projects, acquire more equipment and raise more funds with investors.
For the first year, we will depreciate our equipment over 3 years. In addition, we will take out a
$50,000 loan with 8% interest to be paid out in 36 months.
Balance Sheet (on DECEMBER 2016)
Year 1
Year 2
Year 3
ASSETS
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1 Current Assets
5,000.00
13,000.00
32,000.00
5,000.00
13,000.00
32,000.00
9,000.00
13,500.00
17,000.00
0.00
0.00
0.00
9,000.00
13,500.00
17,000.00
(1,300.00)
(2,900.00)
(6,700.00)
454.00
454.00
454.00
13,154.00
24,054.00
42,754.00
5 Current Liabilities
3,994.00
3,994.00
3,994.00
Accounts payable
0.00
15,000.00
15,000.00
Cash
2 Fixed Assets
Building
Equipment
Accumulated depreciation
3 Intangibles
4 TOTAL ASSETS
LIABILITIES and OWNER'S
EQUITY
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Accrued expenses payable
6 Long-term Liabilities
Bank loans
50,000.00
50,000.00
0.00
0.00
0.00
Accumulated retained earnings
13,578.00
24,508.00
43,208.00
Total Owner's Equity
13,578.00
39,508.00
73,208.00
13,154.00
24,054.00
42,754.00
7 Owner's Equity
Invested Capital
TOTAL LIABILITIES and
8 EQUITY
Pro-Forma Income Statement
This income statement is based on the expenses needed to start the company as well as the
following logic for the revenue every year:
● The first 6 months will work on installing the equipment with a minimum of 4 properties
in different locations, which each house equipment will cost around $1,500.
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● By the first year we should have around 6 properties each properties will have different
prices depending on the location and property.
● Depending on the different inflation of the areas an PPP the prices will differ.
After the first year, we predict that the income will increase at 10% every year.
Income Stament (As of DECEMBER 2016)
Year 1
1 Revenue
Year 2
Year 3
8,000.00
8,800.00
9,680.00
0.00
0.00
0.00
8,000.00
8,800.00
9,680.00
SG&A
6,578.00
6,578.00
6,578.00
- Depreciation Expenses
(100.00)
(100.00)
(100.00)
14,478.00
15,278.00
16,158.00
0.00
0.00
0.00
- Cost of Sales / COGS
2 GROSS PROFIT
- Administrative Expense /
3 OPERATING PROFIT
(EBIT)
-/+ Dividends and Interest
Income
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- Interest Expense
4 PROFIT BEFORE TAXES
(900.00)
(900.00)
(900.00)
13,578.00
14,378.00
15,258.00
0%
0%
0%
13,578.00
14,378.00
15,258.00
Taxes
5 NET PROFIT
Pro-Forma Cash Flow Statement
Cash-Flow Statement (as of DECEMBER 2016)
Year 1
Year 2
Year 3
INFLOW AND OUTFLOW
1 Funds provided by:
Receipts #1
Interest income
0
Invested capital
50,000
TOTAL FUNDS IN
50,000
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0
0
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2 Funds used for:
Cost of goods acquired
Distribution fees
SG&A
Interest expense
0
0
0
Taxes
0
0
0
9000
13500
17000
Long-term debt reduction
0
0
0
Distribution owners
0
0
0
41000
27500
10500
41000
27500
10500
0
0
0
Building and equipemnt
3 NET CHANGE IN CASH POSITION (Total Funds In Total Funds Out)
CHANGES BY ACCOUNT
4 Changes in Liquid Assets
Cash
Investment Portfolios
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TOTAL CHANGES
41000
27500
10500
41000
27500
10500
5 NET CHANGE IN CASH POSITION (Total Funds In Total Funds Out)
1. Year 0 includes $50k that we will use out of the bank to start the company. That money
will primarily be used for a rent deposit and studio setup cost.
2. Building and equipment costs, receipts (revenue), invested capital, and COGS are
covered in the previous sections.
6.5Cash Burn Rate
This is the projected cash burn rate for the first 6-months of business. As you will see, we will
incur the most costs pre-start up in order to start the business properly.
Cash-Flow Statement (For the first 6-month)
Pre-Startup
Month 1
450
Month 2
540
Month 3
Month 4
648
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777.6
Month 5
933.12
Month 6
1119.744
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-$2,454.00
10
10
10
10
10
10
460
550
658
787.6
943.12
1129.744
-600
-600
-600
-600
-600
-600
-350
-350
-350
-350
-350
-350
-150
-150
-150
-150
-150
-150
-640
-550
-442
-312.4
-156.88
29.744
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6000
$3,546.00 $2,906.00 $2,356.00 $1,914.00
$1,601.60 $1,444.72 $1,474.46
Appendix
- - - - X
SRI BHARATHI FILTERS. "World Map Visual." Digital image. SRI BHARATHI FILTERS.
http://filters.sribharathi.com/aboutus/company/.
Milfortf Asset. "Accelerating Growth Chart." Milford Asset. December 08, 2017. Accessed June
15, 2019.
https://milfordasset.com/insights/missing-xeros/accelerating-growth-in-technology-2017.
Webb, Joe. "The Great Indoors III." Digital image. Joe Webb Art. https://www.joewebbart.com.
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