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
- ✅ The easy brand is extremely recognised in the UK and Europe
- ✅ We manage £75m+ in franchise asset value with 70+ depots*
- ✅ Operating in the UK, Italy, Spain, and Portugal
- ✅ Our proprietary tech stack and platform is uber scalable
Key features
Learn more about convertible campaigns.
Idea
Introduction
The go-to destination for event and construction equipment rental, backed by the founder of easyJet.com.
easyHire operates a European, fast-growing, cloud-based technology platform and franchise network for the £23 billion equipment rental industry.
Our vision is to become the world’s leading technology platform bringing equipment rental online. We aim to achieve this by providing independent rental companies with a franchise model that focuses on technology, partnerships and the marketing and branding support of a huge European brand in protected territories.
*based on unaudited management accounts.
How it works:
📝 We target leading rental operators within a specific region and country and receive franchise applications.
🎯 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.
Substantial accomplishments to date
Reinventing the business within months from being only an event hire platform to also a construction equipment hire platform because of the Covid-19 pandemic's impact on the events industry. This allowed the business to scale to new heights while our event hire business is stronger than ever in the UK.
Here's what we've achieved so far...
🚀 Raised $5 million from some of the world's best investors
🚨🦺 We have 27 franchise regions and our network consists of more than 75 tool hire depots
🏗 We manage more than £75 million in Franchise Total Asset Value
🎸 Rockstar leadership team featuring ex-Amazon, Spotify, and Accenture employees
🚀 Our proprietary tech stack and turn-key franchise business platform is uber scalable
We have brand exclusivity for the easyToolhire and easyEventhire franchises across 30 territories.
See below why the Founder of easyJet invested in easyHire
See below some of the marketing highights from the past 12 months:
Introductory Video for our business easyToolhire in the UK:
Introductory Video for our business easyAlquiler in Spain:
Introductory Video for our business easyNoleggio in Italy:
Our equipment rental franchise operators now service old and new customers under a globally recognized brand with best-in-class technology.
This is what some of our franchises had to say about why they chose to work with easyHire:
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) Grow marketing
Investor Perks
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
Key Information
ASA Term Sheet
This investment round is being raised by way of a convertible equity investment structure, in this case an "advanced subscription agreement".
The key terms that apply to the Company’s advanced subscription agreement are set out below. See also attached Key Terms document for further details.
• Conversion is triggered by ("Trigger Events"):
○ An Equity Fundraise – defined as the Company raising bona fide equity investment of at least £500,000 from one transaction or a series of transactions, in exchange for the company issuing equity shares;
○ A Change of Control of the company (transfer of more than 50% of the share capital); or
○ An IPO – being a listing of the company’s shares on a recognised stock market or secondary market.
• On the occurrence of a Trigger Event, your investment will convert at the lower of:
○ A 20% discount to the valuation set by a Trigger Event; and
○ A valuation cap of £26,000,000.
• Longstop Date is 18 months from the date of the advance subscription agreement. If conversion has not been triggered by the Longstop Date shares will be issued on the longstop date at the Default Share Price, which is the lower of:
○ the lowest price of any shares issued after the date of this Agreement; and
○ a price per share based on a pre-money company valuation of £26,000,000 on a fully diluted basis.
• The convertible would also convert to equity at the Default Share Price in the event of winding up or liquidation of the company.
Debt
The company has the following outstanding loans:
£40,000 Coronavirus bounce-back loan from Lloyds Business bank at an interest rate of 2.5% per annum. The loan was taken out on 01-06-2020 and is to be repaid on 21-12-2023.
The funds raised from this investment round will not be used to repay these loans.
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If you successfully purchase a share lot of this business, you will be granted access.
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