Average service providers (e.g. salons, spas, dentists, local sports club, pet grooming shop) don't have awareness, skill or resources to access modern digital tools to grow their business. Retainoo is an all-in-one solution that offers business management, client retention, google listing & review management features through an integrated app platform. The platform connects service providers instantly through an app Personalized for service providers and their clients, taking away the hassle for our clients to use fragmented solutions for operations, client management, marketing & growth.
Current Status
Milestones Achieved (500 characters max):
• Jul 19 – MVP launched with pilot customer • Aug 19 – Exhibited in Beauty Expo (Sydney) and received a lot of interest and positive feedback by the industry. • Sep 19 – Signed up partnership with HBIA (Hair & Beauty Industry Association) in Australia • Nov 19 – Signed up 1st paying client • Jan 20 – Signed up Toni & Guy (overseas) as our biggest client brand • Feb 20 – 4 paying clients • Aug 20 – Signed up partnership with SQUARE Payments solutions (US Based) on a revenue sharing model (Development & Integration in progress) • Feb 21 – Many new features introduced in the platform • Jun 21 – Partnership in progress with Merchynt solution to offer integrated value proposition (google listing & review management)
Market
All service providers
- Hair & Beauty Salons - Pet Grooming Salons - Sports & Aquatic centers - Dentists / Clinics - Any service provider that needs repeat customers
Problem or Opportunity
Problem (500 characters max):
“Digitization leads to data, and data leads to better business performance (if used properly)” Big corporations can spend substantially on digitizing their businesses & client experiences BUT small-to-medium sized service providers (salons, clinics, sports clubs, dentists etc.) don’t have the skills, time & resources to do the same. This limits their ability to grow and at times even sustain in these competitive times.
BIG OPPORTUNITY
Not a single dominant platform that connects customers with all of their service providers (salon, clinic, spa, pet-grooming, tennis club etc.) as a one-stop-shop for bookings, loyalty, invoices, visual records, payments etc.
With our unique business model, we can share advertising revenue with service providers in exchange for using our solution and bringing their customers on our platform, creating win-win scenario.
This will open new revenue stream for service providers and currently no solution offers this.
Solution (product or service)
Solution (500 characters max):
Preconfigured & easy to use SaaS solution that automates business processes & client experiences through integrated app platform Business management solution with a fully integrated & intelligent (AI enabled) app platform that connects businesses with their clients in real-time for personalized and better client & staff experiences. Phase 1: Hair & Beauty Salons, Spas & Massage Centers (LIVE) Phase 2: Doctors, Dentists & Beauty Clinics Phase 3: Sports Clubs, Aquatic Centers, Fitness Studios
Competitors
- Booking platforms e.g. Fresha, Bookwell - Point solutions offering limited features
Advantages or differentiators
- Fully integrated app platform combined with complete business management features - All in one solution - B2B2C platform that enables advertising revenue potential (shared with service providers) - Excellent reviews and industry interest
Finance
- Monthly Subscription - Advertising revenue shared with service providers
Business model
- Partnerships with industry body's - Leverage influencers - Online & offline channels - Expos - On-ground sales in South east Asia and middle east
Money will be spent on
• 50% on marketing & sales (paid social media & search, online material, hair & beauty EXPOs, Limited on-ground sales staff to get early traction) • 25% on further solution development and support • 25% on business management and operations (People costs, customer support costs, legal costs, insurance costs)
Offer for investor
Equity and combination of equity and convertible bonds.
- Traction without marketing & sales budget is hard - Service providers don't often like to change their systems therefore conversion effort is required (western countries only)
Overall risk is low as service providers are always going to need a solution and with right marketing and sales, product and leadership, we will grow.
Service industry is set to grow at 5% yoy.
Incubation/Acceleration programs accomplishment
Bootstrapped (invested $135K by founders) and many many hours each day of effort
Won the competition and other awards
Not yet, we have now started to compete now as we feel confident on our value proposition, product and vision.
