Boost Technologies LLC | Application Preview
Boost Technologies LLC is seeking government grants to develop a suite of Software as a Service (SAAS) solutions focused on Application Management, Auction Management, and Venue Management, alongside essential development equipment.
The Application Management tool aims to streamline data collection for events, schools, and non-profits, serving as a central hub for client information. Auction Management will enhance auction events with features such as online payment processing and event registration tools, while Venue Management will assist venues in managing storage, bookings, and employee tasks.
To ensure an efficient development process, the funding will help purchase necessary equipment, including payment terminals and new computers for developers. The company anticipates a development timeline of approximately 15 months and plans to minimize initial developer salaries through equity stakes.
Boost Technologies plans to establish sales and solution partnerships with event producers across the USA and Canada, fostering strong relationships for mutual success. Their strategy not only aims to create clients but to engage partners who actively sell and promote their software solutions. The company has already signed an agreement with Toys For Kids Seattle as a Solution Partner for Auction Management.
Additionally, all partners will benefit from an end-of-year profit-based bonus and an At-Cost pricing model for software usage, ensuring they only pay what it costs the company to provide the service.
The rationale for funding lies in the innovative approach Boost Technologies is taking within the event industry. Their partnerships will foster growth and adaptability, minimizing market risks and enhancing their reputation through word-of-mouth, without relying heavily on marketing expenses. The company faces competition from firms like Accel Events, Tappit, and Saffire but differentiates itself through its unique partnership-driven business model.
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General Information
Business Registration Number: 88-3336687
Location: Battle Ground, Wa, United States
Length of Operation: 1-5
Number of Employees: 1-10 Employees
Annual Gross Income: Less than $100k
Annual Gross Expense: Less than $100k
Open to Loans: NO
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Funding Usage
Boost Technologies LLC The money will be used for the following four items in a SAAS suite of solutions: Application Management (Development), Auction Management (Development), Venue Management (Development), and Development Equipment. Application Management will provide events, schools, non-profits, and other entities a clean and streamlined way to collect data from their customers including uploaded documents, forms, or data-capture questions. Application Management will be a HUB for clients' data to reference from year to year. Auction Management will help to provide any auction with solutions to produce a smooth event. Our clients will have access to online payment processing, event registration, table management, runner applications, custom display posters auto-generated by our software, and a check-in and out poster generator! Venue Management will provide any venue or workplace with a way to manage their in-house storage, event bookings, and space management (halls, buildings, warehouse spaces, etc). Venues will also have access to an employee task manager that will help to manage employees more effectively all from one software solution. In order to make the development process smooth and efficient we will need the following equipment purchased: Stripe Payment Terminal Wired, Stripe Payment Terminal Wireless, new computers for each of our 4 planned developers, Front-End web templates to reduce Front-End development time allocation, and Developer salaries. We plan to earn a small salary with a small equity stake in the company to help reduce the developer salary costs for the first year. The estimated development timeline for the three Solutions above is 15 months (plus or minus two months).
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Business Plan
Sales Partnerships: Our current sales strategy is to have Sales Partners in the USA and Canada which are event producers. This will allow us to gain them not only as clients but also as partners (we want partners). As sales partners, they will have access to sell all of our solutions as well as our Sales Partnerships to other event production companies. Once this connection is made, we will have access to multiple event production companies for insight into what needs to be better and how our solution can accommodate their needs. Our goal with this sales strategy is to build a network of event production companies that are invested in the success of the software, not just clients that want to use it! WE WANT PARTNERS NOT CLIENTS. Sales Partners will receive a commission for all their sales! Solution Partners: Partners will be a singular event or event production company that have a specific strength regarding one of our solutions! Currently, we have one Solution Partner signed up: Toys For Kids Seattle (https://tfkseattle.org/ and https://tfkseattle.org/event/wintergala/ ). They will be the Solution Partner for the Auction Management solution! We will be working closely alongside the Auction for the remainder of the 2022 calendar year and for all of 2023. Partnership Paybacks: All partners will be receiving an end-of-year bonus that will be based on the profits that we receive for the year. Along with the bonus, partners will be on an At-Cost pricing model for all their solutions. They will only pay what it costs us for them to use the software. IE: $100/ month vs $1000/ month. Boost Technologies is worth investing in because it will bring a whole new way of operating into the industry. By using our Sales Partnership strategy, we grow from the success of our clients and partners. This reduces the environmental risk that many companies in this industry fall victim to. By working with these partners, we work and build from their experiences and needs. This creates security for our company by being immersed in the industry, as opposed to being an add-on to the industry. Being backed by our Sales Partners, our reputation will grow rapidly by word of mouth without additional marketing costs.
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Self Identified Competition
Accel Events Tappit Saffire A number of things would separate us from other applicants, and we believe that they are the following: Sales Partnerships, Solution Partnerships, and Partnership Payback. Sales Partnerships: Our current sales strategy is to have Sales Partners in the USA and Canada which are event producers. This will allow us to gain them not only as clients but also as partners (we want partners). As sales partners, they will have access to sell all of our solutions as well as our Sales Partnerships to other event production companies. Once this connection is made, we will have access to multiple event production companies for insight into what needs to be better and how our solution can accommodate their needs. Our goal with this sales strategy is to build a network of event production companies that are invested in the success of the software, not just clients that want to use it! WE WANT PARTNERS NOT CLIENTS. Sales Partners will receive a commission for all their sales! Solution Partners: Partners will be a singular event or event production company that have a specific strength regarding one of our solutions! Currently, we have one Solution Partner signed up: Toys For Kids Seattle (https://tfkseattle.org/ and https://tfkseattle.org/event/wintergala/ ). They will be the Solution Partner for the Auction Management solution! We will be working closely alongside the Auction for the remainder of the 2022 calendar year and for all of 2023. Partnership Paybacks: All partners will be receiving an end-of-year bonus that will be based on the profits that we receive for the year. Along with the bonus, partners will be on an At-Cost pricing model for all their solutions. They will only pay what it costs us for them to use the software. IE: $100/ month vs $1000/ month.
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