Not Too Late to Date

ByYvette Ly, Jaimie Choi, Angela Wu, Britney Messier,

Jason Sacher

Agenda• Management Team• Company Description• Operations• www.NotTooLateToDate.com• Industry Analysis• Market Analysis• Marketing Plan• Financial Projections• Business Structure• Questions?

Yvette Ly, Founder and CMO - Responsible for directing marketing, sales, and consumer growth for the company

• BS in Hospitality Management at NYU Preston Robert Tisch Center

Jaimie Choi, CEO - Responsible for managing strategy formulation and the overall success of the company

• B.S in Hospitality Management at NYU Preston Robert Tisch Center• MBA from NYU Stern School of Business

Angela Wu, COO - Oversees all business operations in terms of service placement and development

• B.S. in Hospitality Management at NYU Preston Robert Tisch Center• J.D. from Harvard Law

Jason Sacher, Marketing and Sales - Responsible for industry marketing, sales, and membership growth for the company in unison with Yvette

• B.S. in Sports Management at NYU Preston Robert Tisch Center• MBA from NYU Stern School of Business

Britney Messier, CFO - Responsible for raising capital and for the financial management of the company

• B.S in Sports Management from NYU • JD/MBA from USC Marshall School of Business and Gould School of Law

Not Too Late to Date

Management Team

• Board of Advisors Two active boards of advisors: The customer advisory board (10 members) and the general advisory board (4 members) which includes:– Jim Safka, Former CEO of Match.com– Mark Zuckerberg, Founder and CEO of Facebook – Samantha Waldorf, Former Regional Director of Customer Relations

and Public Affairs at Silversingles.com– Greg Liberman CEO of Spark Networks (one of worlds leading

providers of online personal services such as: Jdate, Silversingles, CatholicMingle.com)

• Gaps in the Management Team to be filled within six months – Member Care and Relations– Information Systems– Legal Department (more expansive team than Angela and Britney)– HR/Recruiting

Not Too Late to Date

Management Team

Not Too Late to Date

Company Description

Not Too Late to Date is a dating and friend-finding website targeting single individuals looking for company within the 55+ age bracket. Whether to

take a ballroom class with or to visit the arthritis doctor, we believe older folks, more than any age demographic, need company, friends and lovers too. We’re not talking marriage because at this point, they were probably married once or just aren't looking for that type of relationship. Our users

are not looking for babysitters or caregivers either because being an older citizen should not mean loss of independence, confidence or fun. Older singles across the nation have families who are primarily working, off to college, building their own families, or plain neglectful. Not Too Late to

Date provides a service that connects single older folk who are seeking a companion to experience life with, believe that it’s not too late to date

and let things take their course from there…

Establish & maintain online social networking interface

Host monthly social mixers & events (complimentary for members, cover fee for non-members after trial period)

Recruit paying members--------------------------------Facilitate user interaction online & forming online communities

Facilitate in-person interactions------------------------------------------Generate trial for new members------------------------------------------Reinforce existing relationships between members and create a convenient social space

Online communities translate into in-person interactions. Members are

active in a social space that is conducive to forming friendships and

relationships.

Incentivize member referrals

Free one-month trial

Concierge service to enhance guest experience

Not Too Late to Date

Operational Flow

• Membership– One-month Free Trial– Base Membership– VIP Membership

• Website Features– Special Interest

Groups – Search-based

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Membership & Website Functionality

• Month 1 - Month 4 (development)

• Month 5 (beta launch)• Month 6 (full launch)• Future Expansion

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Operational Timeline

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SWOT Analysis

The Modern Industry

• Increase in competitors/saturation of market

• Social acceptance of Online Dating• Slowdown in growth/profit potential

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Industry Analysis

The Early Industry

• Growth of industry• Revenue/profit potential

• U.S. Census statistic

• Quality of Life report

• Tech-savvier– Baby Boomers

• Market size

Image: www.blogspot.com

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Market Analysis

• Search vs. Compatibility based• Direct

• Indirect• Future

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Competition

• Traditional forms– Local publications

• Event marketing– Tri-state > LA, Palm Bay, Phoenix,

Connecticut– Bingo/Trivia night, cooking classes,

bartending workshop, wine tasting, walking tours, jazz night, "Museum After Dar"

Not Too Late to Date

Marketing Plan

• Year One:– Total Gross Sales: $8,826,370– Total Refunds (12 % of sales): $1,059,164– Total Gross Profit: $7,767,205.60– Total Expenses: $649,713.84– Total Net Income: $6,820,491.76

• COGS: That month’s officer’s comp., salaries and wages, payroll taxes, employees benefits, professional services and web site design; however there is no COGS reflected in the income statement because these expenses that make up COGS are already reflected as line item expenses per month on the income statement and should not be accounted for twice

• End of the year: we take the total net income and pay out 50% as dividends to future employees and equity investors, 40% reinvested back into the company and 10% put to the cash and cash equivalents fund

Not Too Late to Date

Financial Projections

Not Too Late to Date

Financial Projections

Year 2 Year 3 Year 4

Total Gross Sales $12,422,199.96 $16,344,999.96 $20,594,700

Total Refunds & Cash Discounts

$1,490,664 $1,971,400 $2,471,364

Total Gross Profit $10,931,536.96 $14,373,599.96 $18,123,336

Total Expenses $1,087,932.48 $1,156,327.92 $1,212,357.92

Total Net Income $9,843,603.48 $13,217,272.04 $16,910,978.08

Reinvested $3,937,441.39 $5,286,908.82 $6,764,391.23

Dividends $4,921,801.74 $6,608,636.02 $8,455,489.04

Added to Cash Balance

$984,360.35 $1,321,727.20 $1,691,097.81

• Have selected our exact location – 447 East 14th Street Suite #6B (in Stuy Town) for $3,176 per month

• Are already in the application process at Stuy Town • Have successfully staffed all Senior level executives and have

already constructed job descriptions and a list of qualifications necessary for each vacant position within the company

• Have projected necessary initial investment and the subsequent operating costs and revenues

• Have projected dividends paid to equity investors and reinvestment amounts within the company for the next 4 years

• Have web site design contract agreement already in place and ready to sign with the nation’s leading web design firm Webimax

Not Too Late to Date

Project Milestones

• Ownership investment = $315,000 • being used for the initial down payments on all expenses

for the company and for securing subsequent funding vital to the company’s success, including: R & D, consumer testing/product placement and vital industry information

• Initial Investment:

– Yvette: $75,000 invested, $68,500 base comp.

– Jaimie: $65,000 invested, $62,000 base comp.

– Angela: $65,000 invested, $62,000 base comp.

– Jason: $50,000 invested, $58,500 base comp.

– Britney: $60,000 invested, $62,000 base comp.

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Current Status

** Equity percentages and compensation rates were determined based on each respective owner’s initial investment into the company and their

subsequent position and responsibilities within the business.

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Ownership

• LLC registered in the state of Delaware• Ownership consists of the five initial management

personnel – equity split evenly (20% 5 ways)

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Not Too Late to Date, LLC

• Sources of Funds:– Management Team Investment: $315,000– Total Funds Committed: $315,000– Total Funds Required: $358,837.60– Total Funds sought from Equity Investors:

$38,837.60

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Financing Sought

Image: www.savingadvice.com

• Uses of Funds: ($358,837.60) – Office and Multi-Media Equipment

• 7 top of line iMac desktop computers ($14,347.82)• 2 Xerox ColorQube Printers ($5,441.57)• 1 Xerox Work Centre Copier/Scanner/Fax ($4,680.54)• 1 Apple Airport Extreme Wireless Router ($179)• 1 Linux Box ($245)

– Furniture• 8 Desks (1,306.41)• 8 Office Chairs ($522.60)• 8 Lamps ($174.11)• Coffee Table ($216.66)• Lounge Chairs ($648.90)

– Initial Marketing Expenses ($50,000)– Purchase of Domain Name at GoDaddy.com ($9.99)– Website Design and Planning with Webimax ($100,000)– Delaware LLC Filing ($50)– Delaware Online Business Licensing ($15)– Attorneys Fees ($10,000)– Copyright and Trademark Code for Website, Name and Logo ($1,000)– Other/ Contingency Fund ($15,000)– Cash/Working Capital ($150,000)

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Fund Allocations

• Selling to a larger social companionship service provider such as Facebook or Eharmony if necessary

• Informal Reorganization or Chapter 11 of Bankruptcy protection if necessary– Try to avoid Chapter 7 because the Trustee makes it

much more formal – Try to avoid Chapter 13 as well which requires filing

a plan of repayment

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Exit Strategy

Image: www.dailyhealthnow.com

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Thank you! Questions?

Image sources• http://www.sptimes.com/News/071501/photos/ht-rose.jpg• http://local.yodle.com/articles/wp-content/uploads/2009/07/nursing-home-party.jpg• http://images.farfesh.com/articles_images/1FARFESHPHOTOS/HEALTH_MEDICAL/HEALTH/

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%2Bcouple2.jpg• http://3.bp.blogspot.com/_-p_9rC6UQc0/Sfb8uM4CQPI/AAAAAAAAAT4/z2NAZtVKtz0/

s1600/Angry-old-woman.jpg• http://3.bp.blogspot.com/-vEbXHlzuZjA/TVgPqHn8wnI/AAAAAAAAAA0/-W4_wecemwA/

s1600/angry-old-person.jpg• http://nuckingfutsmama.com/wp-content/uploads/2010/08/angry-old-lady.jpg