GB2U will be a mobile application at the beginning but I do not want it to be seen as just this. Starting out as a mobile application I would like it to progress into a working business solely focused on helping change peoples lives for the better, whilst also helping local and national businesses benefit from us. GB2U stands for "Giving back to you" which will be the companies slogan, meaning giving back to you "The people".
GB2U is a mobile app where players play for free by watching advertisement videos or time limit photos from local/national/international companies and then answering a question on that video/photo. For every 5 questions consecutively answered correctly it will enter the player into a cash prize draw on the Friday.
Over 32 million people in the UK play the National Lottery each week and buy an average of three tickets each time, despite the chances of winning being just one in 14 million, costing £2 a ticket, GB2U is free to play.
There are approximately 10 million Snapchat users in the UK every day, YouGov finds that 6.1 million adults (13% of the population) have downloaded and installed Pokémon Go since its UK release on 14 July 2016. The data shows that 5.3 million people are still using the app. So there is a huge usage of mobile apps in the UK alone just for snapchat and Pokemon Go, there is no reason why GB2U could not be the same.
Internet companies were the biggest spenders on the UK television advertising in 2016, spending £639 million.
At this precise moment I have created my business plan, set up forecast costs and figures as well as what GB2U could make if successful. I am mainly looking for help with people with knowledge and a business mind who would also be happy to invest in me and the team I am putting together. I am desperate for some advise on what to do next, whether it is advice on how to attract investors or whether to go down the crowdfunding/shares route. I have researched what I need to do for the legal side of creating the app and I know I will have to apply for a Personal Management Licence and a Personal Functional Licence.
Firstly I would love for GB2U to be created via a mobile application database, to go live with at least 10 thousand companies registered and for people like me registering to play the application. Then once the app is up and running I would like it to progress so that it is as big as the national lottery.
Once the app is running for six months I would then like to create a small GB2U handheld device for people to order for free, so they would not have to use a smart phone or tablet to play, this would broaden not only people playing GB2U but it will gain interest from even more businesses wanting to advertise with us. In two years I believe GB2U could make a gross profit of £10.4 million with 10 thousand companies subscribed.
- What if we could standardise the cost of advertising nationally to £62.50?
- With 10,000 companies using GB2U the weekly income would be £100,000.
- With 10,000 companies using GB2U we could send £25,000 to charity weekly.
- Developing and marketing GB2U should cost no more than £50,000.