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Mitten New Generation POS Platform for Beauty
Industry
Beauty Salons Fitness Centers Yoga Massage
SPA Tanning Salons
What problem are we solving
� Most salons (and most SMBs) in Ukraine/CIS use poor marketing techniques (if any) to attract and retain customers
� Salons use different disconnected solutions for marketing, processing, loyalty and CRM, that leads to inefIiciencies and money loss
� Most understand that internet is a new channel for attracting clients but few understand how it works
� There is no single solution for beauty industry combining payments, marketing, and CRM that holistically optimizes business processes and makes marketing more effective and proIitable
Payments Marketing
CRM Operations Management
What our salon owners tell us
“When employees quit they take the client database with them”
“It is difIicult to maximize sales and to pay attention to statistics”
“Administrators don’t communicate with clients enough and don’t record occurred interactions”
“Not clear how much money I pay for processing. I get annoyed by unexpected fees”
“Payroll is a boring and time consuming process”
“Competitors leave bad fake reviews about my salon online and I don’t have the right tools to manage my online reputation”
Cornerstones of our solution
Marketing
Payments
Loyalty
• Social media marketing campaigns
• Email/SMS marketing • Online reputation
management, review solicitation
• Single data base of clients for efIicient data driven marketing
• Loyalty program automation
• Integrated gift certificates • Launch of the referral
program
• Payment processing • Store transactions in the
cloud • Cheaper and more
convenient than traditional POS solutions
Markets we plan to conquer
� 12 000+ salons ¡ Including 1200+ in Kiev ¡ 50 salon chains
� Our focus: Premium salons–25% of the market
� Average Ticket: $30-‐35.
� $2,5 bn. Market � 40,000 + salons
� $20 bn. market � 100 000 salons
Ukraine
Target markets
Potential target markets.
§ POS: card and cash payments § CRM: Client Management § Payment Processing § SMS and E-‐receipt § Review Collection
§ E-‐Calendar Booking § Online Reputation Mgmt § Email Marketing § Loyalty Program Integration
§ Social Media Marketing § Gift Cards § Online Promo Campaigns § Inventory Management
✓ Fabulous Incredible Wanted
✓ ✓ ✓ ✓
✓ ✓ ✓ ✓ ✓ ✓
✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓ ✓
✓ ✓ ✓
✓ ✓ ✓ ✓
4500 UAH./yr.. 7000 UAH./yr. 8000 UAH/ye
✓
What we are planning to sell
How we are planning to sell
� Direct door-‐to-‐door sales � Beauty products distributors � Industry Conferences � Partnership with banks , payment processing, daily deals , marketing, website optimization companies
� Development of scalable and repeatable sales process
� Understanding «ideal customer» proIile � Establishing quality leads sources: partnerships, online marketing, demos at industry conference
� Enhance product offering by proposing free value-‐add services: ability to publish news, events, promos on our blog
Transition from ofIline to online sales
Sales Channels Next steps
Our Competitors
Ukraine Global Market
POS
CRM
Bonuses
Booking
Online listing
� Poster (cafe, restaurant), Payme (our partner), iPay (mobile POS)
� Square, Restopad, Punchey, iZettle etc.
� Salon1c, LazerBeauty, BeautyPro, Terrasoft
� Mindbody, RosySalon, emisoft, SalonBooker, Insight, Envision
� Shopfox, groupon, other daily deals, ugift, emozzi
� Fivestars, Levelup, Belly
� Moresalonov.ru, krace.ru
� Bookitonline, Salonbooker, Mindbody etc.
� Izum, nice.net.ua, salon.in.ua � Yelp, YellowPages
Ukrainian market doesn’t have a full scale solution offered by Mitten
What we are raising money for
Mitten is raising $100,000 (convertible note) to: � Strengthen product offering
¡ More expensive and fully featured subscription packages: Incredible & Wanted (functions: e-‐calendar, inventory, email marketing, loyalty system and others. )
� Expand the team and move faster ¡ Hire more engineers to expedite tech development ¡ Development of sales and marketing teams ¡ Hire a full-‐time designer
� Build scalable and repeatable sales channels ¡ Direct sales, ¡ Industry and SMB conferences ¡ Online sales channels (online sign-‐up, support) ¡ Attract web trafIic
How we are planning to develop
101
6845
30
0
100
200
(Revenue, thousands, USD)
Q2’14 Q1’15 Q3’14 Q4’14
+150% +150
+150%
New client growth ensures stable sales growth
30 75 113 169 # new clients
99 11
12
58444235
0
50
100
Q2’14 Q3’14
55
Q4’14
44 51
(Wages, thousands, USD)
Q1’15
70
4 6 9 11 # of employees
Wages
Other expenses
Wages is the main factor of rising costs
-5-21-29
0
150
-50
(Cash flow, thousands, USD)
Q1’15
3
Q4’14 Q3’14 Q2’14
Cash Ilow positive
Milestones we are going to hit
Beta Pilot
Strengthening position on Ukrainian
market
Scaling to International
markets
New market verticals
� Prototype testing � Design � First sales � Website launch � Development of next core features
Q2 2014 Q3-4 2014 Q1-2 2015 Q2 2015
� Launching new verticals using previous experience
� Potential next verticals: medical & dental services, maintenance, household service, retail)
� Strategy development on scaling internationally
� Sealing partnerships on international markets
� Building sales channels abroad
� App launch in selected countries
� Development of new functions to launch Incredible & Wanted packages
� Blog Launch � Development of sale channels
� Launching Consumer App
� Raising Series A
Our team
Yuliya Sychikova, CEO � Member of the founding team, Punchey.com (Boston) � Associate at Stevens Ventures, early stage technology fund (Boston) � Analyst at Wharton Lauder Institute (Philadelphia) � Business Analyst at Ennovance Capital, PE fund (Philadelphia) � University of Pennsylvania, BA Economics � Languages: Spanish, Portuguese, English, Russian, Ukrainian
Yaroslav Mudryi, Partner, Sales � Regional Sales Director, Groupon Ukraine
� The youngest regional director at Groupon in the world
� National Aviation University, International Economics � National Aviation University, Air Navigation Systems, Aviation Safety
� Zhitomyr Military Institute of S.P. Korolev, Belbek, military ofIicer, oil and propellant
Our team
Denis, PHP professional � Web applications specialist at Visual-‐craft, international outsourcing company � Chief developer of global projects at Sitedevel
� Cherkassy Polytechnic College, BS Programming at Kharkiv Aviation Institute
Igor, iOS professional � Clashot App at Deposit Photos. � Senior IT specialist at Adron R&D � Author of 12 scientiIic publications, co-‐author of 3 patents, winner of multiple
Junior Academy of Science (programming)
Инвесторы Советники
Mikhail Miroshnichenko Garden Ventures Yuriy Chayka Monexy Yaroslav Mudryi ShopFox, Groupon Ukraine
Dar’ya Kolodiy Salon «Youth Studio» Nate Stevens Punchey.com, Yodle.com Ken Leaver Eastlabs, RocketInternet, Visa
Наши партнеры
Summary
By investing into Mitten, you invest in:
� Unique POS solution that allows to manage the whole business through one app
� Easily scalable solution to other markets as well as other industries
� Multibillion dollar market, high margin business in non-‐competitive space
� Strong team with international startup experience
We are raising $100,000 (convertible note) for product development, sales growth and team expansion
