EXECUTIVE SUMMARY

SQUAREBYTES GmbH is a digital agency that revolutionizes real estate developing with innovative marketing tools such as 3D modeling and Virtual Reality. The company was founded in 2015 by Ari Christian Benz and Marcel Nürnberg in Vienna, Austria. After having established itself as the biggest provider in the Austrian market, SQUAREBYTES is preparing its expansion to the United States.

Goal

The main goal of this project was to develop a business plan for SQUAREBYTES GmbH’s expansion to the United States. Particular emphasis was on identifying potential target companies that would represent SQUAREBYTES’ initial customers in this geography.

Methodology

In order to achieve these goals, we conducted extensive desk research. At the start of our research, we read numerous articles and market analysis reports from databases to gain a better understanding of the US residential real estate market and the role of VR/AR in this sector. Our initial findings were summarized in a competitor analysis describing the situation in the United States.

We identified and analyzed in detail three regions that are particularly appealing to initiate SQUAREBYTES’ expansion overseas, namely, East Coast, Texas and California. For these regions, we searched dedicated databases and spotted potential target companies, which we then ranked from based on the magnitude of their activity in developing real estate projects.

We also researched and identified marketing channels to foster the company’s brand awareness and to reach the proposed clients in the United States.

We created an action-based milestone plan representing a summary of the initiatives we recommended for the first four years of the US expansion. These initiatives and the related projected returns also represent the foundation of a financial plan outlining three possible scenarios: optimistic, realistic, and pessimistic.

Finally, we proposed a SWOT analysis and a Business Model Canvas to provide an overview of our project’s findings and to highlight the most relevant aspects to consider for the success of the operation.

Results

Our extensive market research has helped us to confirm that the United States represents a viable market for SQUAREBYTES. We have identified over 100 potential clients in the prospected areas that SQUAREBYTES should target and summarized in an Excel sheet all the information that describes these clients, including how to reach them directly.

After analyzing the market potential and considering effective marketing channels for each suggested area, New York was chosen as the starting point of SQUAREBYTES’ expansion. The main cities in Texas are the second-best option or a natural subsequent step after New York.

We have identified several marketing channels that SQUAREBYTES can use to concretely gain brand awareness in the United States. These channels include specific magazines, online platforms, and fairs/events in New York that appeal to SQUAREBYTES’ target group.

Cooperation Partner

• SQUAREBYTES GmbH
  Walfischgasse 14/8
  1010 Vienna, Austria
  squarebytes.at

Contact Person

• Marcel Nürnberg - nuernberg@squarebytes.at

• Ari Christian Benz - benz@squarebytes.at

Student Team

• Daniil Kovekh

• Hong Chen

• Rauan Gabdullin

• Réka Holicsek

Project Manager

• Alessio Delpero

• Richard Olbrecht