TIME-TO-FIND

Idea

Introduction

TIME-TO-FIND is a reverse marketplace for luxury Swiss watches supplied directly to you by brand authorised retailers. We help you locate the watch you want from our large retail network, made up exclusively of brand authorised stockists. Our mission is simple; We want to help you, the consumer, by 'speed dating' you with an authorised retailer who has the watch you want in stock.

Our distinctive model means we never show retail prices. We simply connect you discreetly with one of our retail members if they have the watch you are looking for in stock.

Our complimentary service allows you to communicate with and compare authorised retailers without any commitment, and with a simple sign-up process.

When you are ready to transact, you can choose our bespoke concierge service to hand deliver your watch to your door or opt for the fully tracked, secure courier service from your chosen authorised stockist to your nominated delivery address. It's effortless.

Substantial accomplishments to date

TEAM STRENGTH

Conceived and created by the ex-Rotary Watches management team, after the business was sold in 2014.

Combined experience of over 100 years in the Swiss watch industry

DIGITAL EXPERTISE

We have partnered with some top flight digital agencies to gain the very best expertise – both in site design, usability and monitoring

KEY INVESTORS

Investors include internet entrepreneur Alex Chesterman (Zoopla/Cazoo) and investment fund UKTV Ventures

NATIONAL TV ADVERTISING CAMPAIGN

We have signed a contract with UKTV (owned by BBC Studios) for a seven-figure TV advertising campaign with which we aim to build excellent brand awareness as we move towards the peak Christmas season

KEY STAKEHOLDERS SATISFIED

Retailers - find the site easy to use and like the concept

Consumers – innovative reverse market for Swiss watches, let TIME-TO-FIND find your watch for you

SALES

£80k of sales at retail value in the pilot period of five months (August to December 2019) with zero returns*

Watch sales from £190 to £38k validating the business opportunity

*Source: Unaudited management accounts.

Monetisation strategy

We have created a walled garden process to protect revenue and minimise leakage: Consumers can search and then buy within the website, with the full transaction value being handled by TIME-TO-FIND.

TIME-TO-FIND has full retailer watch stock visibility, but with zero stockholding.

TIME-TO-FIND HAS 4 REVENUE STREAMS;

Commission on each transaction value, paid by retailer members: 5%

Concierge Service – Our Concierge team offers a chargeable hand-to-hand delivery service, and can independently source watches for consumers

“Response to Enquiry” fee of £2.50 per response, paid by retailer members when replying to each consumer enquiry

We plan to introduce a retail membership fee later this year

Potential future revenue stream; We capture valuable data through the platform which could potentially be monetised over time (E.g. Shared with brands)

Use of proceeds

We will use the funds from this round with the aim to:

Create marketing and PR campaigns with the aim of increasing retailer membership, growing the user base and generating 33,000 enquiries by the end of Jan 2022. Plans for those campaigns consist of:
- Digital marketing planned with WatchPro (trade), SEO & PPC
- Traditional campaigns with TV & Radio focus
- PR delivered via Social Media channels & watch trade press

Promote concierge sourced sales through marketing and PR activity, with the aim of growing this sales channel to £200,000 RRP

Appoint highly-reputed award winning creative agency to develop a distinctive and memorable brand identity

Increase site visits to 500,000 within this financial year

Commission a website user experience audit to improve the customer journey

Appoint 4 additional in-house staff members in the following functions
- Chief Marketing Officer to deliver the strategic digital plan
- Sales & Marketing to support traffic growth & client inquiries
- Operations to create & maintain website database assets

A portion of the investment reflected in this campaign was received by the Company in the 6 months prior to the launch of the investment round on Seedrs and the Company has started putting this to use.