Find a voice for your art community!

FEASIBILITY DECISION: FEASIBLE

BEAMFLIX, LLC
- Art & Community-
Business Feasibility Study
Damola Olanrewaju
Matthew Aina
Feasibility Decision

After conducting primary and secondary research, we have concluded that this business concept
is feasible at this time.

Key Feasibility Analysis Questions Answers

Is there a customer base and a market of sufficient size to make the Yes
concept viable?

Do the capital requirements to start, based on estimates of sales and Yes

expenses, make sense?

Can an appropriate start-up or genesis team be put together to execute the Yes
concept

Table of Contents
Find a voice for your art community!..............................................................................................1
Business Feasibility Study...............................................................................................................1
Feasibility Decision.....................................................................................................................2
Table of Contents.........................................................................................................................2
Business Concept:........................................................................................................................3
Industry Analysis:........................................................................................................................3
Political Analysis.....................................................................................................................4
Social Analysis........................................................................................................................5
Economic Analysis..................................................................................................................5
Technological Analysis...........................................................................................................6
Strengths, Weaknesses, Opportunities, and Threats................................................................7
Competitive Landscape...........................................................................................................8
Entry Strategy........................................................................................................................10
Market Analysis.........................................................................................................................11
Target Market Description.....................................................................................................11
Primary Customer Description..............................................................................................12
Founding Team:.........................................................................................................................12
Product/ Service Development Plan:.........................................................................................13
Basic Web Design:....................................................................................................................15
Financial Plan:...........................................................................................................................16
New Venture Development Timeline/ Timeline to Launch......................................................17
Appendices:...............................................................................................................................17

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Business Concept:
Our mission is to create a new revenue stream for artists through the pay per view
streaming of concerts. Our goal is to make an online art community that will connect fans
to their favorite artists in a cheap and affordable for way.

People all over the world are unable to experience some of their favorite artists perform
from time to time. One of the biggest reasons for this is location. Musicians perform in
many different cities, but fans cannot always attend these shows. Sometimes a fan will
need to wait several years to see their favorite band live. Beamflix is a great way to
deliver the show to anyone in such a situation. Furthermore, when a band does finally
perform locally, there are a limited number of tickets available, and these can be
expensive. Beamflix solves this problem by providing entertainment for a fan on a
budget. While fans will still need to pay for Beamflix, they will not need to pay the
extreme prices that many bands charge for concert tickets. Finally, there is the potential
for customers who just simply do not have time to attend concerts regularly. We live in a
world where everything seems to revolve around work, and the amount of time people
spend at work is getting longer. With Beamflix, customers would be able to view shows
on their own time.

Beamflix shall be strictly provided through the internet; however there are a few different
types of distribution types that come from this. The first and most obvious one is through
a computer, but there are always possibilities of expanding through mobile applications
and other types of media. With the advancement of cell phone technology in the past few
years, mobile applications are a new and innovative way for all types of companies to
provide their product. This is definitely a possible route for Beamflix expansion in the
future.

In summary, Beamflix will be a new and innovative way for people to enjoy the music
that they love, without dealing with the downsides of attending concerts. From busy
people to disabled people to people who just don’t like crowds, it’s hard to imagine that
there is anyone who wouldn’t benefit from Beamflix. As long as people find these types
of dilemmas with attending concerts, Beamflix will be a profitable idea, and a great
benefit to society.

Industry Analysis:

Beamflix as a business will operate in the industry of Internet Publishing and

Broadcasting, specifically within the area of Paid Content. Admittedly this section of the
industry makes up the smallest portion of its revenue, accounting for only about 10% of it
all and is likely to see some shrinkage over the next 5 years due to consumers’
unwillingness to pay for online media content.

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 That said, the industry as a whole is experiencing exceptional growth and despite the
shrinkage likely to
be seen in paid
content, the most
lucrative sub-
section of such
content (music
content
distribution) is
expected to remain
relatively stable as
Internet users
become more and
more comfortable
with online
commerce (20% of whom report paying for music content online1)

Figure 1

Given the information above, the industry appears to be one that is unlikely to produce
large profits although very capable of sustaining a successful business. That is, until you
consider the unique features of Beamflix in our political, social, and economic climate.

Founding Team:

Adedamola Olanrewaju - Damola is a software developer specializing in web application

development. He brings over 3 years of experience developing websites to the team, having
worked with Simon Fraser University and Reckit Benckiser as a web developer. At each of these
companies he was responsible for content management and the development of customized
features to fit the companies needs.

Matthew Aina – Matthew is the idea maker and product development expert. Beamflix was
originally his idea. He produced the service development plan for the final business plan.
Worked at Tim Hortons as accountant, but now studying for his MBA at Simon Fraser
University. As well, he is member of Dreamer’s Crew.

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Ariel Kirkwood – Ariel is going to be involved with the design and development of the
website alongside Adedamola. Having previously worked at Cedarwood Health as a User
Experience Associate, he has worked in design roles before and has experience with the
information architecture of large-scale websites. He is looking to graduate with a BS in
Information Systems. Additionally, Ariel will be helping with the front-end “look and feel” of
the website, guiding its design to fit user needs and assumptions about how such a service would
work.

Kim Wen – Yen has majors in Management Information System and International Business
therefore she understands in general about business core and what a start-up company would face
with. Moreover, working as director of membership in ASCEND organization – a non-profit
professional chapter which focuses in accounting and finance- from the beginning helps her to
get more experience in financial firms and in doing financial documents. She will try to cut down
the cost, increase the profit.

Gap Analysis
Missing from our founding team are a few key skillsets:

 Marketing: We still lack someone who can create and maintain the company’s brand.
They would need skills in interpreting data from analytics sources such as Google
Analytics and Vimeo PRO Analytics to figure out where to market certain artists and
their videos.
 Web Scale Engineering: While we have software design and development talent within
our founding members, we still require someone who can handle the more technical tasks
within managing web infrastructure and databases.
 Artist Relations: We will require someone who can be a point of contact for artists to
resolve business and technical questions that artists may have.

Product/ Service Development Plan:

Beamflix is a web platform organization that brings art to everybody, by motivating
bands and performing artists to upload their shows and set price per view for their fans. Our
platform design will be partly customizable, because we want artists to express their art, on their
own home page. This is great opportunity for new bands that are limited by funds because we
only charge a one-time $20 fee per show or video for three years. Whatever price per view the
band would want to charge, in the first year of business Beamflix would take a fee of 4 to 6
percent, depending on the band’s popularity, in following years everybody will be charged 6%.
Highly popular bands would pay a promotional fee of only 4% during the first year, whereas less
popular bands would pay 6%. After the first year, everyone pays a 6% fee.

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 One possible goal for Beamflix in the future would be a floating price scheme in which
the price is determined based on average disposable income of each country. For example, if an
artist from the United States set up a $5 charge for its show, that same show will be charged ten
times less in Serbia, because the average disposable income in Serbia is ten times less than in the
United States. The floating price would be determined based on economic factors of each
country, that are the average disposable income, usage of credit cards, and usage of Internet. We
are outsourcing every part of business, on quality/price ratio basics. It is important for us to keep
high quality service for our users. Cost of our business is mostly variable; because of that we
have great flexibility, and therefore we can adapt to variable market demand.

Beamflix is a Limited Liability Corporation. We will require every user to sign our End
User License Agreement, which explains every aspect of the users’ liability and Beamflix’
responsibility. Web site usability will be tested based on observation of the users. The platform
design will evolve from simple to more complex, in beginning we will allow less options and
with time more options and services will be given to our users. We will be using data and
insights from both Google Analytics as well as Vimeo PRO’s video analytics to better understand
our viewers’ watching habits as well as the proportion of visitors being converted to a paying
viewer. Our design will follow rules of: proximity, similarity, closure, and continuity. Beamflix
is consumer-to-consumer that delivers a service, strictly over the web. We plan to grow from a
small business, to a medium-sized enterprise, and ultimately becoming a large company.

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