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Storemates Pitch Deck

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Storemates Pitch Deck

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Storemates is the 'airbnb of storage', an exciting entrant to the sharing economy and a start up that is ser to disrupt the booming self storage industry with its peer to peer model.

This deck is aimed at potential investors, interested owning a slice of the exciting Sharing Economy

Storemates is the 'airbnb of storage', an exciting entrant to the sharing economy and a start up that is ser to disrupt the booming self storage industry with its peer to peer model.

This deck is aimed at potential investors, interested owning a slice of the exciting Sharing Economy

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Storemates Pitch Deck

  1. 1. ‘Your Marketplace for Storage Space Business Development Plan (2016 – 2020)
  2. 2. Contents Slide/s The Team & Special Advisors 3 - 4 Storemates Mission, Problem & Solution 5 - 6 Case study: How it Works 7 – 9 Safety & Security 10 Benefits 11 Business Aim, Achievements 12 – 13 Market Opportunity 14 -15 Business Model, Competition Analysis 17 – 18 Media Coverage 19 Road to Market, use of Investment 20 - 23 Traction: Bookings Achieved / Income 24 -25 Financial Forecast 26 - 27 Valuation Calculation 28 Strategic Partners 29
  3. 3. Shaff Prabatani (CEO/ Co-founder/Strategy) •Senior Manager at Westminster City Council •Award winning for innovation •Ofsted Outstanding result twice –leadership role •Director Potential Training Consultancy •Chair of ICYE Charity Ben Rogers (Co-founder/MD/Com) •Director and co-founder of PotentialProductions.org •Film, branding, marketing. •Creative Services Manager for Ad agencies: VCCP, Inferno,KNAS •Coms Manager: Friends of the Earth, EIA •Founder of BRPM property management. Meet the Team Founders Shaff & Ben are serial entrepreneurs with over 20 years experience in a range of areas from business strategy to marketing Bally Sappal (Operations) •10 years+ exp of ops management & business development •GlaxoSmithKline, NHS England & Oxfam •Clore Social Fellow Ranjan Chopra (CTO) •Started as a web developer, then became a tech architect •Led large technology programmes on behalf of: •Vodafone, Agilisys, Fujitsu, LexisNexis, Stryker, IBM, BAT, Bull, Danzas, and several software houses
  4. 4. Our Special Advisors Offer exceptional expertise and mentoring to Storemates to enable ambitious growth Lord Andrew Stone - M&S (Ex Managing Director) Patrick Robinson – Airbnb (Head of Public Policy) Jason Bryan – Mindshare (Digital Director) Philip Wattis – Englancer (CTO)/Oxygen Mentor) Adam Taylor – John Lewis (Web Manager) Daniel Langton – Microsoft (Senior Prog Manager) Sarah Carter – Megawatt Holdings (Ex Head of Finance)
  5. 5. Our Mission:Our Mission: Storemates will be the UK’sStoremates will be the UK’s market place for discountedmarket place for discounted storage.storage. Our digital platform willOur digital platform will deliver a more convenient,deliver a more convenient, greener, cheaper alternativegreener, cheaper alternative to self storageto self storage.
  6. 6.  People lack space, cannot upgrade & have too many seasonal items. “69% of fully occupied homes said there was not enough storage for their possessions” RIBA, 2011  Existing self storage is too expensive - not local or green. “55% find self storage too expensive + 31% don’t know the price”, SSA UK annual survey 2015 Our solution  We help people to safely rent their spare space to people who need cheap local storage. Introduction: The Problem
  7. 7. The Story of Anna and the Shahs
  8. 8. Anna needs more space. She searches the Storemates website. She finds some great options nearby. One of them is perfect!
  9. 9. She arranges to view Mr. and Mrs. Shah’s loft storage. She moves her items in. A signed contract, inventory and free £10k cover gives her total peace of mind.
  10. 10.  Profiles, reviews and a community of trust  Integrated with eRated (cross platform reputation)  Legal contract & inventory  ID verification for all listers  Non valuables/strict safeguards  Safe payments through FCA approved GoCardless  £10k Storemates Protection Guarantee  Secure, verified Site (GODADDY cert)  No abuses of trust to date Security & Safety For your total peace of mind
  11. 11. 50% Cheaper than Self Storage Utilises existing space Local: 2,000+ UK spaces available Provides a second income Safe and secure £10k Protection Guarantee Good for community Great for the environment Easy to scale Storemates Benefits
  12. 12. Business aim Storemates is an online peer-to-peer platform that matches people needing affordable self- storage with people and businesses looking to turn their unused spare space into extra cash. Our ambitious 5 year growth strategy aims to achieve substantial revenue through funding of £160k for 8% equity (valuation of £2m). In 2016 we will invest in digital technology, organisational development to increase the capacity to grow and a targeted marketing strategy to increase market share. Vision • Storemates will be the UK’s marketplace for discounted storage - A credible, greener alternative to Self Storage and a trusted household brand. • Storemates will disrupt the £402m Self Storage industry in the same way that Airbnb and Uber have revolutionised the hotel and taxi sectors.
  13. 13. • 12,000+ registered users & 2,000+ storage spaces • Spaces available throughout UK (including Northern Ireland) • 1,300 storage bookings as a listings site • 2,000 site visitors/6,000 page impressions per month • Front runners in peer-to-peer storage • New website & business model to monetize all rental income • Seed investment secured to establish proof of concept • Lean, efficient, and low running costs • Leader and spokesperson for Sharing Economy • Fantastic team of distinguished special advisors recruited to support growth Achievements to date
  14. 14. 1. STORAGE: IT’S A BIG MARKET…. - Booming UK Self Storage industry worth £402m (Self Storage Association) - 830 UK storage warehouses - 250,000 people use storage 2. IT’S GROWING… - 14% annual growth (SSA) - Growth of storage: currently 1 in 30 people store in UK; (1 in 7 in US) - 8% of households/2 million have space they can offer for storage rental (RIBA) 3. WE ARE THE BEST OPTION… - Best budget low cost option: 12,000+ registered users & 2,000 storage spaces - Self storage warehouses are under occupied by 30% which can be rented at a discount. Market Opportunity
  15. 15. Sharing Economy worth £9bn and to grow to £230bn by 2025 (PwC) Market Opportunity “Participation in the collaborative economy - which nearly doubled between 2013 and 2014 - is only going to keep growing.” (Forbes)
  16. 16. Business Model
  17. 17. • We take 14% of all weekly payments (just implemented) • Freemium – users can pay to upgrade to premium account • Upsell related products. Packaging, van hire, removals • Commercial Storage (discounted) Membership scheme • Future products potential, e.g. Left Luggage • Future franchise opportunities Business Model
  18. 18. Our Competitive Edge Commercial Self Storage (Big Yellow, Access, Shurguard..) 50% cheaper, local, no building costs, green Collection storage (Love Space..) UK wide, much cheaper, more versatile, large items, higher margins as no transport or warehouse costs Storage Sharing (sharemystorage & Storenextdoor) Market leaders, 10k Protection Guarantee, safe payments Listings sites (Gumtree, classifieds) Safety, security, verification, protection cover Our competition… Vs. Storemates …
  19. 19. • BBC 2 Business Boomers Documentary • Radio 4. You & Yours • Ch 4 Superscrimpers • Money Saving Expert - Martin’s Money Tips and many press articles Extensive Media Coverage
  20. 20. Road to market
  21. 21. • To build the capacity to deliver our acceleration & growth strategy • Tech support and mobile development • Marketing and communications • Explore global potential Why we need investment
  22. 22.  Enhance usability of site  Aggressive PR campaign  U-Switch marketing campaign  Geo target selected postcode areas  Establish affiliate scheme  Launch referral programme  Develop student product and campaign  Tech: Optimise UX and mobile responsive frameworks,  Create technical roadmap  Achieve 3,575 contracts Road to market Phase 1 (2016-17)  Growth strategy  Expand team  Wider marketing campaign: UK  Trial discounted commercial listings  Preferred option for target markets  Tech: Optimise UX based on analytics and user feedback  Further scale site  Achieve 23,000 contracts Phase 2 (2017/19)  Household brand status  On-going marketing, national advertising  Self storage switching campaign  Look at global franchise  Established market place for private and business users  Tech: Upgrade site to ecommerce engine and further explore payment engine choices  32,000 contracts (10% of all storage users) Phase 3 (2019/20) Establishing Growing Household name
  23. 23. Use of investment Route to Market How this will be exploited Spend Timing U-Switch Tube, digital & Ad campaign Creating a campaign to encourage 250,000 people paying too much for self-storage to switch to Storemates £40,000 April – July 2016 Digital Marketing Facebook Ads Google AdWords & Pay per click Acquiring new targeted users to use Storemates with targeted digital Ads £20,000 April 2016 – Mar 2018 Print, Posters, Flyers, PR Off-line magazine insertions Distribution at stations and student venues throughout the UK £10,000 April – Mar 2017 B2B Sales Targeting commercial storage providers £10,000 Sept 2016 – April 2018 Growth planning/ Administration/Staffing Customer service & admin to support all ongoing campaigns £40,000 Jan – Dec 2016 Tech Updates & Mobile Optimisation, scaling up Web development including mobile optimisation £40,000 April – Dec 2016
  24. 24. Number of storage bookings between 2012 and 2014 Proof of concept: Storage Bookings while free site
  25. 25. Number of payments and storage rental income between 2014 and 2015 Storage income to date Testing our new payment model   2014 2015 Total storage income (£) 1257 4347 No of payments made 12 160
  26. 26. Year 1 Year 2 Year 3 Year 4 Year 5 Annual Transactions 425  3,150  8,000  15,000  32,000  Final Quarter Transactions 425  1,000  3,000  4,200  8,000  Average Monthly Transactions 35  263  667  1,250  2,667  Rental Revenue £5k £38k £292k £547k £915k Rental Revenue per Transaction £12 £12 £36 £36 £29 Business Customer Revenue £0k £2k £3k £9k £17k Franchise Revenue £0k £0k £10k £16k £20k   2015-6 2016-7 2017-8 2018-9 2019-20 Revenues £5k £40k £304k £573k £952k Gross Profit £5k £39k £302k £569k £946k EBITDA £(21)k £(101)k £93k £322k £703k Net Profit £(21)k £(107)k £73k £249k £550k Operating cash flow (OCF) £(27)k £(153)k £25k £214k £511k Investments to date - Founders: £10,000 Seed Funding: £110,588 Transactions forecast (based on £20 average weekly listing, 14% fee = £145 pa)   Financial forecast (2016 - 2020)
  27. 27. Financial revenue forecasts Below transactions forecast for the next 5 years based on a £20 average weekly listing with a 14% fee resulting in £145 annually. 2015-20 Financial Forecast
  28. 28. Investment offer:  8% Equity for £160,000 Valuation:  £2,000,000 Based on meeting future demand for storage: •  Income of filling existing spaces: 2000 storage spaces • (2016: 2000 spaces x £20 pw x 52 weeks x 14% = £291,200) • (2020: 32,000 spaces x £20 x 52 x 14% = £4,659,200) Based on future demand for Sharing Economy Services  • PWC estimate £9B billion: the potential value of the UK sharing economy by 2025. (e.g. Airbnb, Uber, now Forbes Unicorn List) The Exit Equity Value will at 2019/20 will be £7,556,000 (39.4% Equity IRR) Valuation Calculations
  29. 29.  UKShareCo Member - Leading on Excluded Communities agenda  Seedrs – Equity Crowd Funding  Compare and Share – Aggregator for sharing economy  Centrepoint – charity partner  Advisors & Partners Partners, Advisors & Strategic Relationships
  30. 30. Check out our campaign film: vimeo.com/147593243 Contact us for a more detailed Business Plan & Financials ben@storemates.co.uk or shaff@storemates.co.uk GET MOVING!

Notes de l'éditeur

  •  
  •  
    Slide 6b
    Achievements to date.
    Front runners
    Widespread Media coverage and ongoing PR
    (articles montage and logos appear)
    5000 + Registered users
    1200 Listed storage sites (more than all storage sites put togther)
    Seed investment secured.
    Lean, efficient, and low running costs
    New website, will monetise all transactions
    X amount of regular users/page impressions etc (add key analytics)
    Recognised leader and spokesperson for sharing economy.
    Low cost
  •  
  • Slide 6a
    Business Model
    15% of all rent. (just launched)
    Freemium, pay to upgrade to premium account.
    Affiliate income
    Commercial Storage (discounted) Membership scheme
  •  
  • Slide 4a
    Market Opportunity
    Self Storage industry is booming – 14% year growth, (SSA)
    X amount of storage warehouses, X no of people use storage, 40% is for business use
    Growth example currently 1 in 100 (UK) now 1 in 7 in US
    People who cannot afford storage but need it: Students, low income, NHS, over crowded families, foreign workers., Eco conscious
    We take 10% of current self storage business, equals x users
    And enable 10% of those who need to store who cannot afford to equals x users
    Based on figures from the blog – in application Shaff you use 25,000
    Can you believe that in the UK, the total turnover of the industry in 2013 was estimated at £385 million, according to the Self Service Association (SSA). The UK now has 30 million sq ft of storage to rent with 250,000 customers.
    Based on 15% of 1500 = £225
     
  • Slide 4a
    Market Opportunity
    Self Storage industry is booming – 14% year growth, (SSA)
    X amount of storage warehouses, X no of people use storage, 40% is for business use
    Growth example currently 1 in 100 (UK) now 1 in 7 in US
    People who cannot afford storage but need it: Students, low income, NHS, over crowded families, foreign workers., Eco conscious
    We take 10% of current self storage business, equals x users
    And enable 10% of those who need to store who cannot afford to equals x users
    Based on figures from the blog – in application Shaff you use 25,000
    Can you believe that in the UK, the total turnover of the industry in 2013 was estimated at £385 million, according to the Self Service Association (SSA). The UK now has 30 million sq ft of storage to rent with 250,000 customers.
    Based on 15% of 1500 = £225
     

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