The Business Model Canvas Key Partners - Vendors Musicians Studios Brands like Fender, Yamaha, Mapex, Warwick, Marshall. TV Channels Studios There are two types of key partners portfolio we have: - - Key partners who will exchange the services for e.g. sharing their instruments for earning and these will be the musicians and the vendors. Other key partners are the brands and the brands will be doing campaigns and workshops in order to display their instruments. Key partners such as studios and TV channels are the one who will help us for generating the business and need for a musician. Top of Form Key Activities Value Proposition Customer Relationships Customer Segments Rental services of Music Instruments A unique service of musical instruments on rental services to be offered. Long Term Potential Customers Community Building of Musicians Distributions Channel: - App Social Media Physical Store Customer centric processes Helping the customers use branded musical instruments and sound good and heavy during performance. Personal Assistance Dedicated Personal Assistance Exploring communities Subscription packages to be introduced. Offering Customized Packages and Subscriptions to acquire users Marketing Establishing Brand Partnerships Maintenance of the instruments This is how we can acquire repetitive customers. Transportation of the instruments Key Resources Channels Technical Team - Instruments An app will be introduced with following features: Roadies Musicians Influencer & Celebrities for endorsement Vendor Management Finance Digital Geek Repeat Customer As we will introduce some really good packages and offer proactive customer service approach with dedicated problem solving. Establishing Vendor Partnerships Technical Team - App & Website Development Based on the research we got to know that people are interested in hiring musical instruments on rental services and there are musicians who require this service for their own satisfaction while performing. - Booking by vendor/customer/company Rent Calculation Share with a friend Social Sharing User Registration New Arrivals A website, social media and digital marketing will be used to promote the product and the customer can reach out from that channel too. Local Shops who exist in market Physical Store of the company. Local Customers We will currently target local customers from Karachi and then we will expand it to Lhr, Islamabad and other potential cities. Cost Structure Most Important Costs Inherent: - The amount of investment that has been invested for the instruments, app development and marketing. This amount will be recovered through he business and big revenue streams. The cost structure for the customer will be on choice. We will be introducing a subscription model for regular users who can pay once and then rent the services several times with conditions applied. The cost structure will also be applicable on regular hiring of the equipment. Which Key Resources are most expensive? - The instruments and equipments which are branded and are not easily available in the market will be the most expensive key resource. Taxation and duties on bringing new instruments from abroad will be one of the most expensive case. - Another expensive resource would be to develop the app and then it’s maintenance. - Celebrities Endorsement Main Subscription Model: - Upfront Cost (Subscription Charges - Monthly/Annually) Recurring Model Top of Form Revenue Streams - The revenue will be generated if the customer hires the service and for how much time he is keeping the equipment. The customers will be paying the rent of the equipment they will be hiring on rental services. The amount will be charged on hourly, daily and weekly basis with different packages. Customers will be able to pay cash, deposit cash in app, pay through easy paisa or jazz cash. The biggest revenue stream will be from the concerts, TV shows i.e. coke studio and pepsi battle of bands and the music production houses who will be renting the services. Recurring model of the subscriptions will also bring a big revenue.
