[jon#1]

Hi there!

I am interested in setting up a global website dedicated to aviation enthusiasts.

It would be based on the principles of MySpace.com, and would allow enthusiasts to meet new people that share the same interests. It would also include a forum to discuss the latest industry developments and also a photo section which will allow everyone to upload pictures that they want to show.

Revenue will primarily be generated from the airlines that decide to advertise on the site. I don't intend to impose a membership fee at the start, but if I do have to it will be no more than £2.99/month or £25 per year when paid in full.

I have an idea for a good domain name (planespace.com), which is currently on sale at Sedo for only $500, however, two problems I face are that I have very little money of my own to invest into this venture, and I also lack even the basic knowledge/skills of how to design/host a website.

I therefore appeal to anyone that would be interested in helping me with this project, and would also love to hear from anyone with an interest in any form of aviation (commerical, military general, etc.) as any further ideas will certainly be considered...

Please feel free to post below or send me an e-mail: jonathan_mark_davies@hotmail.com

[jon#1]

Ok, I have now decided that I require up to £10,000 investment to get my site up and running, and I would be willing to give a 40% share of my business in return.

Am looking for any number of potential partners (you do not need to be an aviation enthusiast, but some business related skills would be an advantage), and I have been good enough to include the break down of the investment that each person would be required to make below:

2 investors = 20% each = £5,000 per person
4 investors = 10% each = £2,500 per person
5 investors = 8% each = £2,000 per person
8 investors = 5% each = £1,250 per person
10 investors = 2% each = £1,000 per person

So, what would the £10k be spent on...?

Well firstly, I need to buy the domain name that I want for my site, and the rest of the money would go towards the design, hosting and maintence of the site.

I have spoken to some aviation enthusiasts I know already, adn have briefly explained my ideas for my site, and they said that it sounds really good and they would be interested in becoming members, so I am gaurenteed people to join from the start, but need a good website to attract even more people!

And here is some other information:

Based on membership fee of £2.99/month = £35.88/year
To make £1,000,000 = 27,871 members

Based on membership fee of £5/month = £60/year
To make £1,000,000 = 16,667 members

If you are interested or have any further questions please feel free to post below or e-mail me (address is avaliable in first post!).

Many thanks,


Jon#1.

[thenewwallstreet]

This seems like a lot of money for a site of this caliber, and may chase off potential investors. I would suggest looking for ways to get this site up and running for cheaper than your are proposing. Try posting your idea on Guru.com and get some estimates.

[jon#1]

Originally Posted by thenewwallstreet

This seems like a lot of money for a site of this caliber, and may chase off potential investors. I would suggest looking for ways to get this site up and running for cheaper than your are proposing. Try posting your idea on Guru.com and get some estimates.

I can understand that may seem quite a lot of money, but when you consider the level of service that I want to offer to members, you maybe able to understand why it is that expensive...

What I intend to be able to offer:

1. A dedicated membership number, sign-in name and a profile page that can be customised to their own specification.

2. An up-to-date news and forum section so that people can discuss the latest developments within the industry.

3. A photo section to allow people to share photos of aircraft that they fly on or that they spot.

4. A video section to allow people to share video clips of aircraft that they fly on or that they spot.

5. A modification section to allow people to show off their creativity skills, by designing new aircraft liveries and a chance to develop existing ones.

How will I make revenue?

Well the primary focus of revenue will come from airlines, tour operators and other travel related companies that decide to advertsie on the site.

However, I also intend to charge each member a very small fee of £2.99 per month (minimum of 3 months subscription!), but to attract people to join, I would look to include a special offer of an annual flat fee of £25 per person if they pay in one go!

Later on down the line, I am thinking of introducing a premium service (am currently developing ideas!), and that will be basically an upgrade, but lets focus on the basics first shall we...

[Day2]

That doesn't seem like a lot of money at all. A good web based venture needs money for development, hosting, advertising, content, search engine optimization, and more.

If you really want investors, you need to put together something a little more compelling about your venture. I'd read the resources at Garage.com for a good review of what you need to offer investors... Here's a link:

http://www.garage.com/resources/index.shtml

[jpmorgan13]

There are plenty of social networking applications out there that will provide all of what you want except for a few items. However, paying a few hundred dollars is better than investing 10k in something that seems pretty risky to me. I think you are much better off going this route.

[GriZzly]

$10,000 for a clone of myspace.com? Let's break that down.

$2000 for the website design and hosting
$1000 for marketing
$7000 towards your new car????

Come on now...investors won't be interested in something that is this over priced.

[akula]

Great..so you have an idea...let's talk about it.

Jon, buddy, if you really want to make a successful go of this venture, you might want to ask questions on how to make this thing successful.

Entrepreneurship isn't like...let's wave the magic wand and all of a suddenly these "investors" are gonna miraculously cut me a cheque...I mean, you're a realist right? Look....just think like an investor for a second:

a) Some guy you don't know
b) Wants to compete with no competitive advantage
c) Shows nothing, absolutely nothing so as to prove that he is serious
d) Is throwing away ownership in his hypothetical startup as if it was garbage.

You know...I'm not trying to be mean...but just look at this deal from another person's point of view. Would do you think of this deal?

Anyway, I do hope you reach out and ask the right questions.

[jon#1]

Originally Posted by GriZzly

$10,000 for a clone of myspace.com? Let's break that down.

$2000 for the website design and hosting
$1000 for marketing
$7000 towards your new car????

Come on now...investors won't be interested in something that is this over priced.

I think that is grossly unfair!

If I am looking for investors to raise money for a project, there is no way I would spend any of that money on other interests, especially not if I am giving away a share of my business in return.

What you have to remember is that I am from the UK, so the price may seem to be alot higher than the currency of your country. I was quoted a figure of £9,000 as a rough estimate at the moment, and so I have allocated an extra £1,000 as a contingency to allow for any possible increase. Any money that is not used at the intial stage, will be returned to the relevant people...

[jon#1]

Originally Posted by akula

Entrepreneurship isn't like...let's wave the magic wand and all of a suddenly these "investors" are gonna miraculously cut me a cheque...I mean, you're a realist right? Look....just think like an investor for a second:

a) Some guy you don't know
b) Wants to compete with no competitive advantage
c) Shows nothing, absolutely nothing so as to prove that he is serious
d) Is throwing away ownership in his hypothetical startup as if it was garbage.

Maybe I am a bit too sensitive, but I think the advice given is somewhat disheartening to any would-be entrepreneuer - it certainly has made me think twice about posting on here in the future!

I do have a competitive advantage because the site will incorporate a range of activities that members can do, which although sites do already offer these services, they only specialise in one type of activity.

At present I am a member of so many godamn sites just so that I can do a range of activities, I think there is a market for a site that offers members a better service and ata competitive price, and so far I have recieved some positive comments from other enthusiasts!

I don't think that giving away a share of my 'hypothetical startup' as though it is garbage, it is a means of being able to raise the finance required to get the project up and running. It is my understanding that investors won't invest in a project unless they get something out of it, so I think a 40% share is quite reasonable really for a site that has the potential to make a few £million through the advertising space open to companies!

[akula]

Ok...good....we're getting somewhere. Just keep in mind, I'm here to help you, I'm not your competitor, I'm not here to dishearten you in any way...I'm here to help you ask the right questions.

First off, remember the golden