Unit Economics

Core question: How much do we make per package?

Per-Package Margin Breakdown

Average package value: ฿100K (~$3,000)

Revenue sources:

Golf commission (15%): ~$450
Transport margin: ~$200
Ancillaries (VIP fast-track, equipment, insurance): ~$100-200

Total margin per package: ~$750-850

Revenue Targets

90 Days (Validation)

Volume: 20 packages
Revenue: $15K-17K
Proof: Unit economics validated with real data

Month 9 (Profitability Path)

Volume: 75 packages/month
Revenue: $56-64K/month
Margins: 40-50%
Break-even: 50-60 packages/month

Why This Beats SaaS

Economics comparison:

B2B SaaS approach: $3 - 4 K MRR in 90 d a ys (10 a g e n t s \times$ 300/month)
Direct sales approach: $15 - 17 Kre v e n u e in 90 d a ys (20 p a c ka g es \times$ 800 margin)

Path to profitability:

SaaS: Need 50-60 seats at $300/ m o n t h =$ 15-18K MRR
Direct: Need 50-60 packages/month = $37-51K revenue

Revenue scaling:

SaaS: Scales with seat count (limited by agent market size)
Direct: Scales with package volume (limited only by supply & demand)

Why not SaaS for competitors:

$1, 000/ p a c ka g e ma r g in >>$ 300/month SaaS seat
Revenue scales with package volume, not seat count
TAT license operational—can be seller-of-record immediately
Agents would use our tools to train their future competitor

Margin Sensitivity

Transport attach rate impact:

No transport: ~$550 margin (commission + ancillaries)
With transport: ~$750 margin (commission + transport + ancillaries)
40% attach rate on 75 packages = 30 with transport = +$6K/month

Commission variation:

12% commission: ~$360 (low-end courses)
15% commission: ~$450 (standard)
20% commission: ~$600 (premium courses)

Package value variation:

฿50K package (~ $1, 500) :$ 400 margin
฿100K package (~ $3, 000) :$ 800 margin
฿150K package (~ $4, 500) :$ 1,200 margin

Cost Structure

Variable costs per package:

Aggregator commission: If using Golfsavers/GolfThai (exact % TBD)
manual_desk staff time: ~฿200-300 per manual booking (15-20 min @ ฿50/hr loaded cost)
Payment processing: 0.8-1.5% (PromptPay) or 3%+ (cards)
E-voucher generation: Negligible (automated)

Fixed costs (monthly):

Salaries: ฿200K (CTO + Tan base, months 0-3)
Team: ฿80K (ops manager ฿30K + developer ฿50K from month 2)
Infrastructure: ~฿10K (servers, tools, APIs)
Total fixed: ฿290K/month base

Break-even calculation:

Fixed costs: ฿290K/month (~$8.7K)
Average margin: ~$800/package
Break-even: ~11 packages/month (covers fixed only)
Profit target: 50-60 packages/month = $40 - 48 Kre v e n u e -$ 8.7K fixed = $31-39K profit

Path to Profitability

Month 3 (Validation):

15+ packages through system
฿20K+ average margin/package validated
Unit economics confirmed with real data

Month 6 (Scaling):

30+ packages/month sustained
Revenue: ~$24K/month
Fixed costs: ~~฿290K (~~$8.7K)
Net: ~$15K/month profit

Month 9 (Profitability):

60+ packages/month
Revenue: ~$48K/month
Fixed costs: ~~฿290K (~~$8.7K)
Net: ~$39K/month profit
Revenue covering ≥40% operating costs confirmed

Risks to Unit Economics

Downside scenarios:

Aggregator fees higher than expected (need direct course relationships)
Transport attach below 40% (ancillary revenue drops)
Commission rates compressed by competition (need volume to compensate)
Package values skew lower (need higher volume or premium positioning)

Mitigation:

Validate with first 5-10 packages (weeks 3-6)
Build direct course relationships for better margins
Increase transport attach through bundling
Mix of package values (budget + premium)

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