Malaysia Club Network (MYCN) is a mobile application platform that makes connecting with the nightlife crowd easier and more convenient, between users (night-goers) and the venue organisers in Malaysia. Through MYCN, users will be able to experience nightlife activities in a more hassle-free application as well as discover happening and trendy events and hotspots. Users will be able to meet like-minded groups easily through the app and venue owners will also be able to easily promote, communicate, and engage with users in verbatim through MYCN. This ensures a satisfying experience for both users and owners. Through the app, users can be updated with the latest events in Malaysia' nightlife.
What We Do
In Malaysia, if a venue is very popular, it is inevitable that customers would have to queue before entry, but these lines and queues pose more of an inconvenience. Besides that, there is no online platform that helps users easily find out happening events, purchasing an entrance ticket or even book tables. More than that, there is a void in tools that help merchants to increase their sales and operational efficiency.
In order to examine the preference of the consumer’s way of ticket purchase and making reservations or table booking, we conducted an online survey with a sample size of 1500 valid data that matches our target audience. We also gave a target of reaching 3000 young working professionals aged 21 to 31 years old that are based in Kuala Lumpur. We used this demographic as this group spend their times at night venues which match the criteria of our target audience.
Which major problems do you encounter when making a walk-in booking?
MYCN app will offer a wide variety of options and features that will be made available for merchants and users. These features will enhance the nightlife and parties experience. Some of the feature recommendations include:
Chat and activity interests
Purchase tickets for future integration with GRAB
With generated QR code for merchants verification
Tickets, tables and drinks voucher purchase
Safe and secure checkout
With generated QR code for merchants verification
Why Are We Different
MYCN is an app set out to create the most convenient way for the night goers community to plan their night out. For the first time, users can get all the information they need for the nightlife in one simple handy app. Communication between fellow nightlife fans as well as bringing together with most influential music media outlets as partner curators for the app. MYCN will create publicity, a new advertising medium as a sales boosting tool for the merchants and social media platform featuring booking system for the nightlife community.
DRIVE MORE ORDERS
Guests taking control of orders equates to more orders for your venue and more tips for your staff.
IMPROVE GUEST RATINGS
Keep guests enjoying more of the entertainment and less time waiting for servers or standing in line.
CAPTURE MISSED SALES
Assist your operations and drive more repeat orders at the roughest of times in order to capture guest attention.
Become a venue that is promoted by the MYCN platform and make it easier to find for the thousands of users on the MYCN app.
Increase premium item sales by allowing guests to see the full selection of brands in the app.
JOIN A NETWORK
Guests are signing up with MYCN every day and looking to order in your city. MYCN helps drive awareness of your new service in the local market.
EASIER ORDERS. HAPPIER GUESTS.
MYCN makes it simple for patrons to easily browse a venue’s menu, customise their order, pay, and pickup, or have the item delivered right to them.
UNLOCK THE NETWORK
MYCN consists of a network of leading entertainment venues that share in driving guest awareness and adoption of the MYCN experience.
Our Revenue Model
||3% of total bill
RM8,000 - RM25,000
Depends on the size and the position of the advertising board that the merchant select to publish the ad.
||TBD in later phase
Our Market Opportunity
When conducting our survey, this question stood out significantly whereby the majority of respondents, 69.80% or 1047 respondents prefer mobile application to their bookings. This is a significant amount compared to 22.6% or 339 respondents which prefer to do bookings on the website, and 7.6% of the respondents who prefer to walk-in or call in to make a booking.
Which way do you prefer to make bookings?
Which mobile booking applications are you familiar with?
Based on the responses from our questionnaire, it shows a significant result that mobile booking apps is a necessity. Consumers see that by purchasing tickets or making a reservation through mobile booking apps is very convenient. The most noteworthy result is that more than 65% of respondents which constitutes to 975 out of 1500 respondents prefer to use mobile booking applications to do reservations. This is a clear indicator that the market trend as well as customer purchase style and behaviour are adapting to the new technology and trends. Issues like long queues, unpleasant services, and time-consuming process lead to people depending on mobile applications to make things easier and more convenient for their time and money. Hence, we can conclude from the research that people knew about the convenience of mobile booking apps and would prefer a service that skips the queue and the hassle.
We take a 3% commission on each transaction
Expected monthly transactions made on MYCN by Year 2
Average Fee. Based on RM475 bill
Expected Revenue by Year 2
MYCN’s long-term strategies would be broken down into the following phases:
MAY 2018 – MARCH 2019
In May 2018, MYCN will begin the process of development, marketing and product research. We aim to develop the Minimum Viable Product by November 30, 2018, Iteration I by January 31, 2019, Iteration II by February 28, 2019, Iteration III by February 28, 2019, and Iteration IV by March 31, 2017. Each iteration will be tested through a series of test groups that involves key influencers in Klang Valley. We intend for the fourth iteration to be a product that is ready for mainstream adoption within our Local Addressable Market. Revenues will be immaterial during this phase, and capital needs will be relatively high to fund an aggressive development and marketing schedule. By the end of the development phase, we hope to have achieved a base of 2,000 users.
PHASE I (TRACTION)
MARCH 2019 – DECEMBER 2020
The traction phase will begin in March 2019 and ends in December 2020. Our focus will be expanding within the LAM by growing our user base and expanding our vendor network. By the end of Phase I, we hope to have achieved a base of 36000 users, earning revenues of RM3,411,450.00.
PHASE II (EXPANSION)
JANUARY 2021 – JULY 2023
During the expansion phase, MYCN will extend its reach beyond the cities in Malaysia and reach major cities in Southeast Asia. By December of 2021, we hope to have achieved a base exceeding 60,000 users, earning revenues at RM9,276,750.00.
JANUARY 2025 – ONWARDS
MYCN will opportunistically consider acquisition possibilities in early January of 2025.
Usage of Funds
App maintenance and development of Phase 2 of MYCN.
Launch event and marketing
Business operations, office setup and legal fees
Founder & Managing Director
Graduated from the University of Essex, obtaining a Bachelor’s Law Degree (LLB). Terence has had experience as an Assistant Sales Manager and Warehouse Operative Officer. Additionally, being musically inclined, Terrence has always shown himself as a music teacher, either as a freelance or employed.
Bryan is heavily involved in setting up the MYCN platform and overseeing the development of MYCN. Obtained a BSc (Hons) Economics and experience working in an accounting and audit firm in the UK allows him to deal with clients directly.
Experience in handling legal documents and crisis management. Obtained a Bachelor of Communications (Hons) Public Relations with a minor in Marketing. His previous experience in PR has garnered him experience in building networks.
Business Development Director
Prior experience handling different artists as an Artist & Repertoire Executive. He obtained a Bachelor of Professional Music and an MBA. He was a freelance musician in his early years which equipped him with the much-needed understanding and insight of night life entertainment.
Involved in planning as well as executing marketing programs and promotional events to produce brand awareness and maximize sales. Having previously served under a company that deals in recruiting, engaging, and introducing local brand products into the Chinese market.
With his passion for business and being exposed to it from a young age of 16, having previously worked as a sales executive for a car dealership, he has shown results by selling 25 cars in 6 months. Degree in Law.