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Smart Fair: The Art Fair App

Dragon's Den Proposal for Sotheby's Institute of Art MA in Art Business 2013
by

Rachel Goss

on 10 December 2013

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Transcript of Smart Fair: The Art Fair App

Welcome to
the art fair app.
&
Art Fair Guide
Interactive fair maps
Image & information database
Image recognition software
Auction price database access
Bilingual

Co-creation
Trending artworks & fair news
Personal collection of notes & images
Sharing & social networking
Features
the art fair app.
Target market
Mid-range European art fairs with at least 40,000 attendees.
Collectors
Visitors
Galleries
Twitter
Instagram
"Liked" in Smart Fair
Vision
To become the number one art fair app
Mission
To give art fair visitors an innovative, social & dynamic platform for experiencing art.
Strategy
To provide an interactive art far platform that connects the next generation of collectors with galleries and other art lovers.
There's
a lot
to remember.
Management Team
Smart Fair LLP (London, UK)
Sara Bengtsson
Finance
Isaure Bouriez
Project Manager
Rachel Goss
Technical Manager
Fernanda Garcia
Client Relations
Nate Hansen
Client Relations
Part-Time Staff
1 contracted app designer (app creation)
1 contracted PR professional (pre-fair)
2 part-time interns
Initial investment:
£19,000 for 45% stake

44% annualized return on investment:
Principal paid back in 1 year
Additional £17,500 after 2 years
Sales and Marketing Plan
Visiting an art fair is
hard
.
Most mid-range art fairs don't have
a
well-designed
app.
It's hard to
take
good
pictures.
You never know if you're
getting the
best

price
.
Investor Proposition
Start-up cost:
£32,000

Overhead cost:
£5,000

£17,000 salary per manager per annum (year 2)

Average added fair cost:
£13,000


Cost Projections
Full financials available upon request.
Year One:
£77,600
Profit Projections
Projections
10% of fair attendees purchase Pro version at £4.99 (Fair 1: £1.99)
1% of fair attendees make £0.99 in-app purchases

Year Two:
£78,000
Projections
12% of fair attendees purchase Pro at £4.99
1% of fair attendees make at least one £0.99 in-app purchase

Reinvesting profits for future cash flow
Free Version (£0)
Interactive fair map
Gallery/art info
Social media sharing
Trending page
My Collection
Pop up ads

In-app purchase (£0.99)
Individual artist auction results

Pricing Structure
Pro Version (£4.99)
Interactive fair map
Gallery/art info
Social media sharing
Trending page
Ad-free

Added features
My Collection (Cloud)
Image recognition
Unlimited access to past auction results

Channels
App available from iTunes & Google Play
Promotion before & during fair
Booth inside fair & inside fair demonstration

Customer Relationships
Co-creation via sharing, notes, "likes"
Fair interaction inside fair with Smart Fair team
Customer service helps with queries/issues
Customer usage generates analytic reports

Monitoring & Review
Fair 1 acts as beta test
Feedback sent to technical support
Managers review respective successes & failures
Resources
Key Partners
Art fair organizations
Participating galleries
Blouin Art Sales Index
Collectors/fair visitors
Data
Artwork images & information database
Gallery information database
User information, social interaction, usage history
Past auction data
Art fair apps do not provide good
quantitative
or
qualitative
value to users.


The number of art fairs has grown 60%+ in 5 years.

Mobile apps are the key to the rise of social networking services:
75%+ access Facebook
60% access Twitter

Smartphone users use apps an average of 2 hours per day!
Smart Fair allows users to remember & share their fair experiences seamlessly.
Market Analysis
Smart Fair acts as a "digital art advisor" for new collectors, building buying confidence.
Smart Fair acts as a "digital art advisor" for new & active collectors, building buying confidence.
Smart Fair allows users to seamlessly share their art fair experience.
You never know if you're
missing out
FEBRUARY
MARCH
APRIL
JUNE
Avg. fair revenue: £27,500
Avg. fair revenue: £39,500
Christine Castracane
Client Relations
Includes:
PR, software adaption, iTunes fee, translation, travel
Invest

only

£19,000 in Smart Fair today and get £40,000 in just two years
Full transcript