Michael Maldonado; Shadab Hassan; Manvinder Ghotra
High Concept Statement:
Uber/Grubhub hybrid for the service industry
Need or Demand:
ServHub aims to revolutionize the services industry platform with a mobile on-demand driven application. ServHub aims to become the new medium for connecting consumers and service providers to handle all servicing needs. There is a need for reliable request of services, reliability, and payments. This will be made through the ServHub application, eliminating bottom feeders and guaranteed payment for service providers. Using location based services to connect to the fastest and most dependable service providers in the vicinity.
Product / Service / Solution:
Building meaningful relationships with customers is an essential requirement for service-based companies/contractors, starting with meaningful relationships with service providers. Building and supporting that bridge between provider and customer is often overlooked and is therefore our main focus.
-Gives providers an opportunity to increase their customer base
-Entices providers of increased profitability with minimal investment
-Gives providers an on-demand medium to access with jobs (no caps)
-Generates reliable service estimates for users
-Providers need to pay to send a quote to a potential customer (no guarantee of acquiring job)
-Over 1k complains of accountability and losses totaling over $500k for customers, with no results for the service providers
-Extremely flawed business model
-Charges users to read reviews on customers
-Contractors need to pay to advertise their services
-Misleading customer base reach on advertising
-Reviews not vetted
-Similar to Angie’s List, customers can buy services based on fixed pricing model and also contact businesses for large projects (like Thumbtack)
-Providers need to invest hundreds of dollars in lead generation, which has yield mostly negative returns due to no job guarantee
-Higher charges for simpler jobs due to Task Rabbit taking a 30% cut of services that they do
-No appropriate cancellation policy (a job can be cancelled 10 minutes prior to scheduled time with no repercussion, no reimbursement, or accountability to replace
Why ServHub will work? Thumbtack, angie’s list, handy, homemagic, taskrabbit have absolutely no accountability systems and have thousands of complaints. Complaints come in almost everyday either from the customer side or service provider side. Jobs don’t get completed, or done badly, service providers don’t show up, service providers take money and never show up again. We will be working with workmarket.com to thoroughly vet service providers and have their bank accounts linked to the accounts and go through a credit check and review systems. ServHub takes a cut from the what services the service provider gets paid for (ex. if service provider was paid 100 bucks, ServHub take 15, the rest belongs to the service provider). The service provider gets a guarantee payment. The customer feels safe that the transaction is already processed through a secure application with a payment system, and have the ability to leave reviews at the end.
Our ability to generate revenue and profit therefore is based upon a percentage cut of cost of services. When service providers complete a job through ServHub. ServHub takes 20% of total cost paid the service provider for completing the job by the customer. If a service provider made $1000 in the day doing jobs through ServHub…ServHub makes 200. Based on which number is agreed upon in the future. Payments are made through the application securely. Service providers are paid next day. We keep our percentages low to attract more service providers to work through our application. We provide a steady clientele and SP’s get to work according to their own schedule.