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Italians Clubhouse

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A new type of club in London. Not your traditional restaurant or bar, but a living and leisure space.

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Funded
£300,003 target
£584,661 from 0 investors
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Business overview

Location London, United Kingdom
Social media
Website www.itsclubhouse.london
Sectors Food & Beverage Non-Digital B2C
Company number 10226861
Incorporation date 11 Jun 2016
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Investment summary

Type Equity
Valuation (pre-money) £1.7M
Equity offered 15.00%
Tax relief

EIS

  • Idea
  • Market
  • Team
  • Updates
  • Investors 0
  • Discussion
  • Documents

Idea

Introduction

Italians Clubhouse format springs from years of investment and knowledge of London, management of successful businesses covering food & beverage operations, design, and fashion. Most of all by the passion of bringing the pleasure and quality of Italian Lifestyle to the London market.

A new amazing venture by the creators of the successfully integrated platform of social media and events (#EatDrinkLoveItalian, more than 100,000 followers) as well as serial investors in Made by Italians (i2i.london).

The first clubhouse boasts a casual restaurant open to the public, a terrace, a wine bar, private lounges and private dining for members, a Campari Bar, Members Room, B&B, private tailors, barber, gym and bespoke concierge services.

Soft launched in December 2017 and currently operating as a pop-up event space and art gallery, the Clubhouse aims to be fully operative by the end of spring 2018, in Mayfair's original Village, Shepherd Market. Our next opening is planned in Shoreditch in winter 2018/2019.

Intended impact

Italian restaurants, wine bars, and design venues are already dominating the London market. Italian Lifestyle can be found all over the media and has become increasingly inspirational for both wealthy Londoners as well as for the younger generations. Furthermore, despite the presence of more than 500,000 Italians in the UK, mostly in London, there is no destination proposing the everyday Italian lifestyle at 360 degrees, using a quintessentially British establishment: the Club.

Unlike other concepts, which often focus on wealth and status, Italians Clubhouse is aimed at design enthusiasts, foodies and people looking for a place where they can still connect and share their passions in true Italian style.
The club’s concept will please even the fussiest members by creating, in different locations around London, a bespoke look and feel for each postcode/village.

Substantial accomplishments to date

In the first 12 months since the idea, the founders have achieved and financed:

- A 20-year lease in Shepherd Market, Mayfair; the heart of one of London's wealthiest areas and part of a large-scale urban re-development

- Created a unique club that could be implemented in smaller venues - versus the traditional and expensive club model

- A new concept, benefiting from solid commercial and financial basis and a network of participating members and partners

- A venue promoted with pop-up events and pop-up gallery, with press coverage and amazing social media base

- Secured a long-term loan and first private investors to secure the finance of refurbishment works

- Secured a partnership with Campari

- Secured a team of experienced industry professionals supporting the founders; among them Roberto Boscolo, part of the well-known family of 5-stars hoteliers, an expert in hotel management and concierge services

Monetisation strategy

The Food & Beverage operations occupy two-thirds of Italians Clubhouse.

Memberships, extra services, and the B&B operation will accelerate the plan and has the potential to support the second opening with little or no extra fundraising.

An initial refurbishment of the first location has already increased the commercial value of the property, with further refurbishments planned. The chance to reverse the upper floors back to residential could provide a plan-b safety-net/exit strategy.

Furthermore, Italians Clubhouse already operates ITS Fashion Street Cafe located in the prestigious Istituto Marangoni in Shoreditch.

Corporate investor (non-EIS seeking) - investing more than £15,000 will get a free corporate lifetime membership.

Individual investors - investing more than £5,000 will get a 50% discount on any membership options for the first year.

Use of proceeds

Fund raised during the campaign will support our growth in the start-up phase.

Italians Clubhouse intends to invest the proceeds in:

- Additional high-quality refurbishment works of the first location
- Secure top of the trade personnel
- Marketing campaign targeting the local business community (beyond the existing large network of followers)
- Securing a larger location on Fashion Street, Shoreditch, where the Italians Clubhouse already owns the successful ITS Fashion Street Cafe.

Please note, the company has an outstanding loan of £500,000 with an interest rate of 7% per annum, to be paid off within the next 3 years. None of the funds raised will be used to repay this loan.

Market

Target market

For the first venue of Italians Clubhouse, the target is dictated by one of the wealthiest neighbourhood in London, yet in constant search of your friendly reliable nest or the latest trendy destination. Italians Clubhouse has the means to satisfy them all. In particular targets:

- Young and not-so-young professionals working in the area in the wealth management industry, fashion and art industries

- Foodies looking for a casual and affordable lunch during the week or for a trendy aperitivo served before a quality dining without ever renouncing to a glass of wine and to a proper espresso

- The wealthiest members of the Italian Community looking for a place to call 'home' without compromises and with discretion

- Tourists visiting Shepherd Market with its renown galleries and nearby attractions

- Membership circle: Journalists, Finance Professionals, Designers, Foodies, Stylists and Media Professionals

Characteristics of target market

Traditional Clubs' memberships are experiencing a downward trend, they are not appealing to millennials who are not keen to be part of expensive membership deemed old-fashioned and conservative.

Italians Clubhouse wants to bridge that gap and enter the market offering both the exclusivity of traditional London Private Clubs and the openness to enjoy design, food, fashion and much more.
The targeted market shall be made of all those enthusiasts in design, fashion, food, travel and entertainment or simply for those looking for an elegant yet quiet place to enjoy some time and some quality of life without facing overpriced charges.

The Italian lifestyle serves them all, young and not-so-young, trends followers and old gentlemen.
During the weekend the area the Shepherd Market Area is far from dormant. For local businessmen, tourists, as well as for the busy 30-minutes diners during the week, Italians Clubhouse will be like a small hidden secret.

Marketing strategy

Eat Drink Love Italian (EDLI), the lifestyle & media brand created by the Founders of ITS Clubhouse in 2011, will be spearheading the marketing efforts of the clubhouse. EDLI already organised multiple events with several Italian public institutions such as the Italian Embassy in London and the Italian Chamber of Commerce. Italians Clubhouse has had thousands of sign-ups so far. Further to that, the 50k clients base of EDLI in the design and fashion world along with the business network of i2i shall create a great reach at an institutional, public and business level.

Finally, in addition to the events which shall take place, an ad campaign is set to start a month before the beginning of the full operations in order to reach the general public.

Competition strategy

We believe our concept is completely different from the traditional ones and we want to tap the absence of such offer in the market satisfying those customers who want to be part of a very exclusive place without that feeling of being outdated and a very expensive yearly bill.

The Italians Clubhouse shall offer:

- A true cosmopolitan lifestyle experience within our clubhouse concept

- A relaxed environment where beauty, taste, and quality are at the centre of the experience

- Opportunities for aspiring members to benefit from the services when the clubhouse is less busy

- Members' payments will be cash and card free letting them enjoy the experience anytime, with no need to think about taking the wallet along and being served like at home

- To ensure a relaxing environment, clients will be able to monitor the number of people in the clubhouse at any time, guaranteeing the absence of noisy crowds

- Freshly prepared food all day long and access to member granted virtually 24/7 (restrictions will apply)

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This campaign for Italians Clubhouse has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 5 March 2018 as a financial promotion. Republic Europe is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. In approving this campaign, Republic Europe has concluded that the information, taken as a whole, is "fair, clear and not misleading." This means that for factual statements we have reviewed evidence of their accuracy, and that for aspirational statements we believe they are phrased appropriately in light of their speculative nature. You should note that in the case of factual statements, the evidence we review is provided by the business, and we do not audit it, which means that we may not be able to identify forged or altered evidence. You should further note that in the case of aspirational statements, the nature of the type of businesses presented on the Republic Europe platform is such that they are likely to have high ambitions, and we may approve statements that convey those ambitions even where we do not believe, or we do not have a view on whether it is likely, that they will be fully realised. The pre-money valuation and investment sought in the campaign are those set by the business: they are not reviewed or established by us, and the valuation is not an independent view of what the business is worth. Given the nature and type of businesses presented on the Republic Europe platform, it is possible that the business has very little cash remaining prior to receiving this investment, and the investment sought may be necessary for the business's on-going existence.

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Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £1,699,698

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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