All the values, the business plan will be pointless if we can’t maintain its sustainability. This is why we need to identify where is the source of the application income. As any other business, we aim to make the application to run in indefinite time. In order to achieve that sustainability, we propose 2 revenue plans (short and long term):
- Short term plan (the percentage given will be negotiated between us and the student union first):
- Taking percentage of any transaction for club/activities event, if they are trying to book from our application (so if they charged 1 pence, we might just need to get 30% of 1 pence each transaction)
- Taking percentage from booking service on the safe place for meeting up (offline)
- Long term plan (will be discussed further):
- Selling the whole package of the application to other universities and provide support on how they used the application for 5 years.
We will also consider and evaluate the way of getting the income after a year ahead from the launch date, either we continue with the plan or we need to devise another revenue plan based on that situation and the newest strategy
