complete the following: Balance sheet (XLSX 10 KB) which the template is attached
using teh following information
Description of your lean start-up entrepreneurial venture.
The Virtual Art Gallery Experience (VAGE) is a virtual and augmented reality platform that turns the tradition of visiting an art gallery or showroom into a virtual and interactive experience. Targeting art enthusiasts, collectors, galleries and artists; the VAGE platform revolutionizes the global trade, viewing and enjoyment of art by enabling users to visit global art exhibitions virtually in a 360-degree open environment with interactive elements such as artists’ commentaries and also enable customers to visualise artworks in their private spaces with Augmented Reality (AR) functions.
The platform is designed to support all prospective customers by providing users with different tour options (through interactive tours offered) education on the different art styles, artists and other pieces of knowledge and also safe for payment, by enabling it through a safe and secure e-commerce payment portal mechanism that builds trust.
The VAGE is powered by a range of features, such as the game engine integration that allows users to cycle through collections and galleries and view content seamlessly.
Fees from subscriptions, art sales commissions, tickets for virtual events, advertising and licensing are all revenue streams for the artists and the gallery. For the first time, VAGE democratises access to art, creates more ways for engagement, and opens more entry to revenue for both artists and galleries.
BMC
1. Customer Segments
Art Enthusiasts:
Individuals who appreciate and explore art.
Students and researchers of art and art history.
Art Collectors:
High-net-worth individuals and art investors.
Corporate collectors looking for unique pieces.
Art Galleries and Museums:
Galleries looking to expand their reach and offer virtual tours.
Museums who are aiming to make exhibitions accessible to a global audience.
Artists:
Emerging and established artists seeking new platforms to showcase and sell their work.
2. Value Proposition
Immersive Art Experiences:
Virtual and augmented reality exhibitions offering a lifelike viewing experience.
Interactive elements allowing users to learn more about the art and the artists.
Global Accessibility:
Access to art exhibitions from anywhere in the world.
Ability to attend virtual gallery openings and artist talks.
Innovative Art Sales Platform:
Secure platform for purchasing original artworks and limited editions.
Virtual try-before-you-buy feature using AR to visualize art in users’ spaces.
Support for Artists and Galleries:
Increased exposure and sales opportunities for artists.
New revenue streams for galleries and museums through virtual tickets and sales.
3. Distribution Channels
Online Platform:
Website and mobile app for accessing virtual galleries and AR features.
VR and AR Headsets:
Compatibility with popular VR headsets for an immersive experience.
AR features accessible through smartphones and tablets.
Social Media and Partnerships:
Integration with social media platforms for promotion and sharing.
Collaborations with tech companies and art institutions.
4. Customer Relationships
Personalized Experience:
Customized art recommendations based on user preferences and viewing history.
Personal virtual tours with curators and artists.
Community Building:
Online forums and social media groups for art discussions and networking.
Regular virtual events such as gallery openings, artist talks, and workshops.
Membership Programs:
Subscription plans offering exclusive access to premium content and early sales.
Loyalty rewards for frequent visitors and purchasers.
5. Revenue Streams
Subscription Fees:
Monthly or annual subscription for premium access to virtual galleries and exclusive content.
Art Sales Commissions:
Commission on sales of artworks through the platform.
Virtual Event Tickets:
Fees for attending virtual gallery openings, artist talks, and workshops.
Advertising and Sponsorships:
Revenue from ads and sponsored content within the virtual platform.
Licensing and Partnerships:
Licensing VR and AR technology to other galleries and museums.
Partnership fees from tech companies and educational institutions.
6. Key Resources
Technological Resources:
VR and AR development platforms and tools.
Secure e-commerce and payment processing systems.
Human Resources:
Software developers and VR/AR specialists.
Art curators, historians, and marketing professionals.
Content Resources:
High-quality digital reproductions of artworks.
Access to a network of artists and galleries.
7. Key Activities
Platform Development and Maintenance:
Developing and updating the VR and AR features.
Ensuring a seamless and secure user experience.
Content Creation and Curation:
Curating virtual exhibitions and creating engaging content.
Collaborating with artists and galleries to feature their work.
Marketing and Community Engagement:
Running marketing campaigns to attract users and promote events.
Engaging with the community through social media and events.
Sales and Customer Support:
Facilitating art sales and managing transactions.
Providing customer support for technical issues and inquiries.
8. Key Partners
Art Institutions:
Galleries and museums providing artwork and exhibitions.
Tech Companies:
VR and AR hardware and software providers.
E-commerce and payment processing partners.
Artists and Curators:
Collaborating artists and curators for exclusive content.
Educational Institutions:
Schools and universities for educational programs and research.
9. Cost Structure
Fixed Costs:
Salaries for employees and contractors.
Lease for office space and development facilities.
Depreciation of VR/AR equipment and technology infrastructure.
Variable Costs:
Marketing and advertising expenses.
Costs for creating and curating digital content.
Licensing fees for VR/AR development tools.
Additional Costs:
Hosting and maintenance of the online platform.
Customer support and community management expenses.
Fees for transaction processing and security measures.
