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Description:
Company Overview:
yellit! is a union of technology and service at its best. A geographically organized directory designed for businesses to reach customers locally or globally in as simple as three clicks of a mouse.
yellit! was established to geographically organize the products and services that the world has to offer and make it easily accessible and useful for all internet users, from long time local residents to those new to town. We provide a place that not only encourages and works within a local region, but in particular, we see an opportunity within the tourism industry by providing an organized shopping information source for the business and leisure travel market.
Our goal is to create an efficient, mutual relationship between users and businesses by providing a meeting place, www.yellit.org, where businesses can promote their products and services; and where users can efficiently find the places where they want to shop. On the continuum of information sites, yellit! intends to establish a presence on the Internet as a complete shopping information source where businesses can advertise and market their products and services effectively, directly and cost efficiently where shoppers are looking.
Our mission is to provide the most positive search experience possible for our users while providing an efficient and effective marketing channel for our members. We intend to become a household brand name by providing a superior website that resonates with the greatest amount of people possible.
yellit! employs innovative search mechanics to help internet users find their favourite places to shop and discover new places to purchase their products and services. We provide a one address meeting place on the Internet where businesses can establish a web presence and promote what they have to offer using a new, unique and professional marketing medium. Our site is based on five defining characteristics: It is geographically organized; it is visual; it is keyless; it is efficiently mobile; and it is innovative.
Business Model
yellit! offers businesses a one stop shop meeting place to advertise their goods and services to the internet user visually, exclusively, affordably and effectively. yellit! provides members with an array of mediums to market their business, locally, nationally and internationally satisfying local residents and travellers. With the ease of searching for products or services on yellit! we are not limited to any age category.
Sales will be derived through direct marketing, phone and in person, as well the introduction of the various programs we offer to University and colleges, yellit getaways, recreation & investment, school boards and our yellit! Spirit program to name a few. Yellit! offers several advertising packages for businesses to select from. Our target profit margin, per new membership, is approximately 37%.
To remain competitive and gain market share yellit! will continue to be affordable, innovative, resourceful, relevant and personable. Our success is dependent on our service to our members and users. By limiting our exclusive memberships yellit! will properly service its members and continue to develop unique opportunities for our members. Continuing to develop unique services such as yellit getaways, recreation and investment, yellit! Spirit and the yellit! Screamer. yellit! will remain more than just a city directory.
Market Size & Description
Yellit! has two markets it must satisfy; Internet Users and Businesses.
There are over 7.8 million Canadians and 172 million Americans online everyday. What are these people doing? They’re surfing the web, choosing and selecting information and sites on what they want and need, from plumbers to furniture; from theatres to restaurants; from phone numbers to store hours. They’re being entertained, they’re getting informed, they’re making decisions…and they’re looking for places of business to do their shopping. yellit! provides users a relevant and exciting new place to search and discover where they want to shop no matter where they are without ever having to leave the yellit! site.
Statistically, per every 100,000 residents of a community there is an average of 1800 businesses. Of these businesses it is estimated that approximately seventy two percent, 72%, of these businesses are small to medium sized, including independent franchise owners. Of this 72%, in a community of 1,000,000 residents (Calgary, Alberta), yellit requires (Initial Rollout and Development Building) 500 businesses or 4% of business memberships to be very profitable. As yellit! grows in popularity our target is to attract and maintain approximately 8 - 10% market share as the company will begin soliciting major retail / franchise memberships.
The Competition:
The web directory and search engine industry today can be described as mature and developed with well known companies such as Yahoo, Google, and Yellow pages all vying for advertisement revenues. There are also many smaller, less well known companies in the industry. These companies, big or small, are all competing to attract internet users to employ their website building value for business to advertise on those sites. These companies are direct competitors to yellit!
Competitive Advantage
We now live in a global society where the number of Internet users are increasing rapidly everyday. Therefore, Internet advertising reaches the greatest amount of people and is the most cost-effective way to market a business. yellit! gives businesses a way to promote their business on the Internet with the least amount of money and effort in four effective ways.
First, yellit! provides a one address meeting place on the Web for businesses and users. Here, each yellit! member can promote their business and market their products and services at one website location where shoppers are looking.
Second, each member business can promote their products and services through their own yellit! Page. The yellit! Page is a spacious place exclusive to the member where they can advertise and promote what they have to offer in a professional, informative and fun way. This page is at the forefront of the advertising and marketing industry. Each member has the capability to edit their yellit! Page and save on advertising costs.
Third, a member business is marketed at all times and can be searched from anywhere. Recognizing users want answers while away from their desktops yellit! has developed a site that can be used efficiently with PDAs and cell phones.
Fourth, member businesses are marketed locally, nationally and internationally, reaching all segments of shoppers, from local to those travelling for business or pleasure.