Cuckooz Nest

Idea

Introduction

Cuckooz Nest is London’s pay-as-you-go nursery with integrated workspace. Created for the modern working parent, we support both individuals and bigger businesses to bridge the gap between work and life.

The maternal employment rate in the UK is one of the worst in Europe, and it is estimated 1 in 4 mothers of children under 4 are out of work due to the lack of affordable and flexible childcare. Businesses big and small are losing amazing, talented women, and in turn the number of females in senior leadership positions is dwindling and the gender pay gap growing.

We know from first-hand experience that combining work and family is not easy - there is no magic solution to make life lovely 24/7. Having launched almost one year ago, we have already helped over 100 families achieve a better work-life balance. With our second, much larger site planned to open later this year, we aim to help a greater number of men and women manage their work and family commitments.

Intended impact

Designed for the modern family, we feel that we are directly responding to the change in the nature of work, earning and family relationships.

The number of working mothers with dependent children has risen, from 3.7m in 1996 to 4.9m in 2017. In 2017 93% of fathers in a couple and 75% of mothers in a couple are in employment. The total number of mothers working in highly skilled freelance occupations has almost doubled since 2008 and in Britain nearly 1 in 3 mothers with dependent children are the main breadwinner.

The number of self-employed has increased from 3.3m (2011) to 4.8m (2017) and the female employment rate is up to record high of 78% (aged 25 to 54 - 2017). It is now estimated that 1 in 7 of all self-employed are working mums.

In a city where childcare costs have risen almost three times faster than wages over the past decade, we believe there was a real need for a co-working space that included high-quality, flexible childcare on-site. However this problem is endemic across the UK, and this is just the start for us.

Substantial accomplishments to date

Helped over 100+ families achieve a better work/life balance.

We are in preliminary discussions with both public & private sector to help companies with the “return to work” policies and better employment practices.

Featured on BBC News, Evening Standard, Forbes, Wired, Grazia & Goop.

Shortlisted for six awards including ‘Best Workspace’, ‘Nursery Innovation Award’, ‘Innovation & Excellence Award’, & ‘The People’s Choice Award’.

5* reviews across Google, Facebook & Trustpilot.

Monetisation strategy

Cuckooz Nest offers flexible workspace and nursery and operates like a members club. We offer two main memberships; FLEXI and MONTHLY. As a member you are able to book a minimum of two hours of combined workspace/childcare through our app. Membership also gives access to a number of curated educational events focused on both entrepreneurship and parenthood.

Monthly members are committed to a minimum number of hours per week; the average usage is 9.5 hours/week at £12/hour. Flexi users are more sporadic and priced between £14 - £20/hour depending on usage. Further to this we have a standard desk only package, which is really beneficial for small teams where only one or two may be parents.

We are now talking to businesses in both the public and private sector who are purchasing “bundles” of hours from us to give to women as part of their maternity packages, and using to encourage a better take-up of shared parental leave.

A small part of our revenue comes from events.

Use of proceeds

We are fundraising to spread the word and to help us bring flexible childcare to more working parents.

With the anticipated launch of our second, much larger site later this year, where we will be able to look after children up to the age of 5 years; we need to start investing in people, marketing, systems and design. Investment is planned to be broadly split as follows:

• 40% into marketing.
• 30% into recruitment.
• 30% into professional fees.

We have learnt that people are our best asset. With this in mind and with our second space secured and due to open later this year; the investment will help us recruit the best nursery staff ahead of launch, to ensure we can capitalise on interest from day one. We are also researching and in discussions regarding development of our own technology to allow “instant-booking” for our nursery and workspace.

NOTICES:

Please note, the company current has an outstanding Directors' Loan of £8,488.62. This loan must be repaid by March 1st 2020, and accrues no interest. Investor funds will not be used for the repayment of this loan.