Memory Miner
How: Buisiness Model & Plan
Memory Miner has its own buisness model in its unique service ecosystem.
It is a new business model that cannot be found in Korea.
Business Ecosystem
Picture above indicates number 1, 2, 3, 4 according to the procedure of an user using Memory Miner
1. After collecting memories, the user can buy memory book, miniature, and memory box.
2. The user can register the trustee.
3. If the user passes away, then the trustee can authorize the user's account and make it activated.
4. The user's acquaintances can send reminiscence messages and collect memories together.
Business Model
There are mainly four business model in Memory Miner:
1. Memory Book: Collected memories can be published into a book.
2. Miniature: By taking the photos of things, you can get that themmade into the small miniatures.
3. Memory Box: Combining the memory book and the miniature, you can get a whole full set of a box.
4. Trustee Registration: You can register the trustees and make your memories to be eternally delivered.
Financial Analysis
The income statement constitutes of the revenue and the cost.
Memory Miner expectes to meet the break-even point in the 3rd quarter of 2018.
1. Revenue: Based on the other similar services in U.S., we got the target number of the users per quarter and the increase of the users. Based on these number, we calculated the number of expected users in the future.
2. Cost: For the beginning cost, there are server, app, web development costs. For the montly cost, there are marketing and labor costs, as well as the variable cost of server cost.
Memory Miner is planned to go over three phases for further development