easyHire operates a cloud-based technology platform and franchise network for the equipment hire industry
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | www.easyhire.biz/ |
| Sectors | SaaS/PaaS Digital B2B |
| Company number | 10754055 |
| Incorporation date | 4 May 2017 |
Business highlights
- ✅ 90% consumer brand recognition in Europe
- ✅Operating in the £23 billion European equipment rental industry
- ✅ Average franchise signing up for 5 years
- ✅ Industry-changing technology saving time and money
Idea
Introduction
The go-to destination for event and construction equipment rental, backed by the founder of easyJet.com.
easyHire operates a global, fast-growing, cloud-based technology platform and franchise network for the £23 billion equipment rental industry.
✅ 90% consumer brand recognition in Europe.
✅ Existing franchise network in Italy and the UK.
✅ Average franchise signing up for 5 years.
✅ Industry-changing technology saving time and money for franchise partners.
How it works:
📝We receive a franchise application or approach an equipment rental operator within a specific region and country.
🎯We conduct a business health check with our proprietary 27-point system ensuring safety, insurance, and quality.
🤝If the business successfully passes due-diligence we sign a 5-year franchise giving them exclusivity to utilise the brand for their specific region. This means each country is divided into different regions that are awarded to different franchise operators.
Substantial accomplishments to date
This is an exclusive opportunity to invest alongside Sir Stelios Haji-Ioannou (founder of easyJet.com), Fabio Cannavale (owner of lastminute .com group), and PiLabs (Venture Capital). Here's what we've achieved so far...
🚀 Raised £1.5 million from leading investors.
🚀 Built a revenue-generating SaaS and franchise business.
🚀 Built a world-class team with decades of leadership experience with global brands.
🚀 3 million pieces of inventory online.
🚀 79% growth YOY based on internal metrics.
We have brand exclusivity for the easyToolhire and easyEventhire franchises across 30 territories.
Due to COVID-19 we focused on tool and plant hire in the construction industry and within months signed our first franchises in new markets such as Italy during the Pandemic.
These equipment rental franchise operators service old and new customers now under a globally recognized brand with best in class technology.
Our investors are successful entrepreneurs and industry experts
Monetisation strategy
We have multiple revenue streams per franchise which are 5-year deals: setup fees, monthly franchise fees (SAAS), annual exclusivity fees and we also take % of gross sales as commission made through the platform.
Our franchisees utilise our platform and technology to bring their products online which supports both trade and the general public in terms of sales. We are launching not only tool hire but also event hire franchises and so the easyHire opportunity supports two markets via one technology platform. Sales are made and paid via the local franchise with our technology tracking the commission due to easyHire.
Use of proceeds
Our use of funds from this crowdfunding campaign is to:
1) Open up new markets.
2) invest in the product roadmap.
3) supercharge our marketing.
Key Information
Share classes
The company currently has 2 classes of shares, Seed Preference and Ordinary. All investors in this round, including Seedrs investors, will be receiving Ordinary shares.
The rights attached to the share classes are as follows:
Seed Preference shares:
Full voting rights
1x participating preference on liquidation and exit
1x exit preference equal to the issue price of the shares
the right to at any time convert their shares into Ordinary shares
Ordinary shares:
Full voting rights
No liquidation preference
No conversion preference
No exit preference
Outstanding debt
Please note the business has a £40,000 UK Government bounce back loan. The loan will be paid back by Q2 2021. Funds raised as part of this round will not be used to repay this loan.
Relationship with easyGroup
easyGroup Ltd (owner of all the easy trademarks including easyJet) invested £200,000 into Rentuu Ltd for shares in the company. easyGroup signed a brand licensing agreement with Rentuu giving Rentuu the exclusive rights to use the trademarks easyHire, easyToolhire, and easyEventhire for 30+ territories (including the UK, the EU, Ukraine, Canada, Switzerland, and Monaco) within events, media, film, and construction. Rentuu in return has agreed to pay easyGroup 1% of turnover.
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If you successfully purchase a share lot of this business, you will be granted access.
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