What Priceline and Hotwire have done successfully in the travel space, this company is providing to SMBs. This yield management booking engine enables SMBs to fill their openings automatically through their Point of Sale Software (POS) system. Our initial vertical is health/beauty (spa, salon, medi-spa, yoga, pilates, etc.) where the founder has over 12 years experience. Our plans are to expand to other industries that use a POS system for appointments/reservations therefore automating the booking process for these merchants.

Key Information:
-Over 1,850 appointments booked through the platform last month.
-The company takes 18% or $4 on each appointment whichever is greater. The customer is also charged a $3 booking fee on each appointment.
-Optional monthly social media premium program was implemented in 1st quarter of 2016.
-Moving to a partial SaaS based model ($99-$199/month per merchant).
-Website is in the process of being redesigned and should be relaunched by September.
-Revenues Increased by over 100% from 2014 to 2015.

We are looking to either sell the company or raise a seed round of approximately $500K to $1MM to scale the company rapidly. If we sell, the team will stay on to help build the company. With the POS systems already developed, the main focus needs to be on hiring a sales and onboarding staff.

Posted Jul 17, 2016

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