There's a general lack of instantly available workspace so people are resorting to public places. It takes too long to search for convenient and affordable work space. Serviced and managed office spaces are expensive and there is a general lack of flexibility for short-term contracts.
OFIXU is building the World's largest online marketplace allowing hosts of any surplus commercial space (desk, office, floor or entire building) to list and rent out their space to those that need a place to work. OFIXU Lists ALL office types for an individual or company meeting all office needs in any location, globally and allows its users to book any commercial space on one convenient platform for a single day, week, month or year!
-Takes too long to search for convenient and affordable work space.
-Managed office space is expensive.
-Lack of flexibility for short-term contracts.
-Hotels and coffee shops are often overcrowded and lack privacy where sensitive business conversations can overspill.
-General lack of instantly available working space.
-Complete a booking in just a few minutes via OFIXU.
-OFIXU Provides a lower cost alternative.
-OFIXU offers ALL types of workspaces for its users.
-OFIXU offers all periods of stay from 1 day and greater.
-Instant localised search results for OFIXU office space.
-OFIXU will continue to roll out to ALL major cities capitalising on commercial and other privately owned space.
Substantial accomplishments to date
-Raised Previous Round $100k.
-Partnered with Aircall
-Partnered with Zipcar
-Partnered with Safecharge
-Referred clients at WeWork
-Acquired over 570 properties to the platform.
-5% rental won on £140k lease for Camden Market Holdings Group (CMHG).
-Signed agreement with The Executive Centre.
-Generating early supply traction.
-Generating booking revenues.
-Number 11 on Top 25 Commercial Property Platforms
-Developing iOS and Android Mobile Apps (Prelaunch).
-Talking to Bloomberg.
-Scheduled Interview with BBC Breakfast News on 21/12/16
Our business model is simple, if a guest books a space with a host we collect between 5-10% of the total rental transaction depending on the specific arrangement of terms agreed with the property owner.
Use of proceeds
Hire further sales members to acquire property hosts.
Expand heavily on social reach with in-house talent.
Increase PR team.
Drive up headcount devoting specific attention to commercial property acquisition.
Main use of funds is furthering the sales/acquisition effort and marketing reach.
Objective: To build critical mass on supply side then release marketing capital to drive demand.
NB: This campaign has been relaunched with a lower target. The company have revised their expenditure plans in line with the new target.
We believe OFIXU has broad appeal with all types of business people.
Our Guests: Professionals or entrepreneurs who work remotely, can work anywhere, but find that public spaces like libraries or noisy coffee shops are not conducive work environments.
Most of them want the ability to search for and book any type of professional workspace anywhere using a single platform application on any device without tying into long-term leasing commitments or serviced office arrangements. With OFIXU searching many instantly available offices and desks is easy for our guests, regardless of location or budget they are sure to find the perfect space for their business.
They can familiarise themselves with the host or co-worker profiles prior to check-in, book the space quickly, check-in and then simply check-out.
Our Hosts: Company or business owners with their own office and a growing business that are looking for an easier and quicker way to earn extra income on unused space.
Renting out underused offices or desk spaces is appealing but posting ads on classified websites isn’t, without the time or the budget to market their space OFIXU is the perfect solution.
Signing up is simple. Our hosts can list as many spaces as they’d like in no time at all, with the ability to include photos, pricing, description and availability, all they have to do is create a free profile. OFIXU will then promote the space through third party classified sites, partnership networks and social exposure.
In fact, our hosts won't need to visit OFIXU unless they receive a booking request or instant booking from a guest, they’ll be notified of these alerts via email and when required they can access their dashboard to accept bookings or amend listing details. They can also be able to make quick decisions on accepting guest bookings as well as access a full transaction log on their dashboard, the only things they need to do are update their availability and accept bookings.
Characteristics of target market
There's a notable increase in co-working & subleasing office spaces, this is growing at an incredible rate globally, we're targeting this increase at a time that sees big changes in the way we rent commercial space. just look at the explosive growth of companies like WeWork to see how the office rental market has evolved.
The UK has more than 679m square meters of floor space with a rental income of £50bn. Assumption: As a minimum, we hope 10% of businesses will have space available to rent on OFIXU. We hope to list 84k UK properties on OFIXU and increase host adoption globally in 2017.
Ideal Market Conditions: Commercial space owners are seeking new ways to earn additional income, they're adapting their spaces to accommodate guests and are taking on a whole new look compared to the tired serviced office market. We're seeing establishments such as co-working spaces and trendy offices serving in particular the buoyant startup arena, coverage is growing, and spaces are adapting.
We've signed an agreement with one of Asia's biggest commercial property owners with 70 landmark buildings (incl. world trade centre in Pune) spread over 21 Asia-Pacific cities including Singapore, Sydney and Hong Kong (The Executive Centre) we've also completed our first rental for the iconic Camden Market Holdings Corp (CMHC) (which contains 20 workshops and studios) in May 2016 netting 5% on the deal and have continued to see rentals with the likes of GRID24, Simulacra Studios, StudioShoreditch and many others benefitting.
We refer enquiries to WeWork and other major players. Our strategy is to increase our portfolio of listings with the bigger operators whilst continuing to onboard individual property owners utilising our (P2P) platform right across the globe, OFIXU has already served up more than 120 listings in the USA (Incl. NYC - 60 California - 28) and we're already tapping into other markets such as Germany and France, we now want to expand our team other countries such as Europe and USA.
OFIXU has already agreed rental spaces with well established office groups, over 400 individual property hosts and have over 570 offices already signed-up in beta. To continue the launch into the market, we are actively promoting over 570 offices for an estimated 400 hosts who are already using OFIXU's platform and in some cases already generating income. This is done through major social channels, SEO, SEM, 3rd party affiliates and 3rd party classified sites.
Consumer behaviour is changing, with advances in computing and mobile technology, people are working more remotely than ever before, OFIXU is capitalising on this change by offering all types of space. OFIXU offers convenience to guests and passing trade to hosts, meaning users who need a conducive place to work can book easily on OFIXU and hosts who have surplus space to rent can earn income.
OFIXU's core business is all about generating booking income for property owners and delivering available spaces for guests to use wherever they are in the world, however, it doesn't all just stop there, we believe we are uncovering many new business opportunities by tying together guests with more than just the need for space and property hosts who can offer other additional services - E.g you booked your space on OFIXU but noticed the hosts other services are available for you to utilise.
This is just one of the ways we’ll differentiate ourselves from competitors, so if you booked a desk space at a creative studio in Shoreditch and whilst booking you noticed that they provide bespoke marketing services, with OFIXU guests will be able to book those services if they wish to. Not only is this another great way to earn extra income but also perfect for guests who want to save time.
We have found that our competitors only focus on targeting managed space but we don't limit our inventory or restrict what type of workspace is promoted, any type of space for any type of work, traditional, creative, home space or retail there really are no limits. OFIXU is evangelising the concept that private owners of commercial space can - as secondary income to their core business - list their space for the very first time without needing to be a co-working or serviced office provider.
Also, unlike our competitors we don't display searchable content or contact details of hosts thus protecting information from competitors and ultimately protecting revenue. We take the time to write our own content ensuring each listing is completely unique and if a user wants to book a space this also guarantees that they don't failover to contacting the host outside of the platform. By encouraging the guest to book on OFIXU we protect our revenue which bares no cost to the guest as it is only charged to the host on a scale of 5-10% commission.