Easygo card services Business Plan
Products and Services Plan
Overview
Easygo is a personal convenience service that targets mainly students. It will provide a debit card service which will enable the user to use a card as method of payment when a purchase is made at any of the specified fast food outlets.
The Card
The Easygo card is a standard debit card in which deposits are made beforehand and the user can only spend money that were pre-paid into the card. The card will be pin-based and will be deactivated after entering three consecutive incorrect pins. Stolen cards should be reported and will be cancelled immediately. If a user decides to cancel his card, a month's notice should be given. Also, any the amount still available on the card should be spent in the remaining month or it will be forfeited.
Fees
An initial amount will be payable for opening an account which will include the Easygo card (estimated at R65). Thereafter card users will be charged an additional administration fee every month (estimated at R20). The fee of replacing a card will be the same as when issuing a new card (R65). Deposits will be made into our account and users will be able to acquire other account details by phone. The Easygo card will be mailed to the new subscriber.
The Website
Application for the card can either be done by phone or on the Easygo website. The website will contain application forms which would make provision for information such as:
1. Name and Surname
2. Address
3. Telephone number
4. Options for the daily limit on the card
Once successfully completed the application, users will obtain a username and password to check their account balance. The website will also provide options for freezing an account for a certain period of time or for canceling an account. Card users will be able to set a daily limit on the website or change their daily limit at a later stage.
Partners
Several fast food chains and restaurants will be contacted and our concept will be proposed to all of them. Those that are interested will become partners of our concept. Users will only be able to use their Easygo cards at the selected partners. We plan on taking cut of 5% on the total amount each time a customer use the Easygo card.
The Marketing Plan
Overview
Easygo's main target market will be students and other minors in and around Pretoria East, since our primary fast food partners will be located in that area. Our goal is to have one thousand customers by the first month of operation and we aim to achieve that with aggressive marketing in the two months before operations start. Our main marketing strategies will be to target the students and their parents by handing out information pamphlets on the orientation day at the start of the 2006 academic year. We also intend to leave a few information pamphlets with each of the fast food partners, so that existing customers can have the option of buying the card and not pay cash in the future.
The longer term marketing strategies will be to advertise in relevant media such as The Sowetan and Beeld which will aim to reach parents of students living away from home (as they will be the ones purchasing the card and paying for it). A general marketing strategy will also be followed by advertising on a moving vechicle, which could either be on public transport or on a company car, to reach a wider market.
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