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    Date submitted
  • 25-Oct-2016
    Categories
  • IT

FanFood

Abstract

FanFood is a modern mobile concession platform allowing fans to quickly order concessions through their mobile phone from their seat enabling them to skip lines at sporting events.

Additional Questions

Who is your customer?

Although mobile concessions are applicable across the live entertainment space, FanFood’s product will initially be marketed toward sports fans. We interviewed over 400 sports fans and found that 50% are not willing to wait in concession lines because they are too long. Oracle recently conducted their own research and found that nearly $15 billion are lost every year due to the inefficiencies of the conventional transaction process at sporting events. Additionally, we know that fans are willing to pay for convenience (i.e., skipping lines with delivery being more of a premium service). Once FanFood is able to prove that their technology increases sales for venues, we will look to charge a monthly licensing fee for the software.

What problem does this idea/product solve or what market need does it serve?

Fans can now avoid the biggest inconvenience at sporting events; waiting in lines.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

Sales and Marketing. Fans love the idea of ordering concessions directly to their seats. Integrating with 10,100,or 1000 stadiums and ensuring that fans are using the app at each stadium will make FanFood a success.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

Currently, we are beta testing our product and have received positive feedback from fans and stadiums. We plan to capture the Iowa market for fiscal year 2017 and aim to automate the on-boarding process for stadiums in order to scale the larger venues across the United States. Our team is experienced in software development and sales which will enable us to capture a relative market share against competitors.