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TIME-TO-FIND

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The smarter way to buy Swiss watches online

102%
 - 
Funded 11 May 2021
£274,998 target
£281,710 from 110 investors
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Business overview

Location London, United Kingdom
Social media
Website timetofind.com/
Sectors Advertising & Marketing Mixed Digital/Non-Digital Mixed B2B/B2C
Company number 10876941
Incorporation date 20 Jul 2017
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Investment summary

Type Equity
Valuation (pre-money) £4.8M
Equity offered 5.58%
Tax relief

EIS

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Business highlights

  • Backed by Alex Chesterman and UKTV Ventures
  • 100+ years management experience in the Swiss watch industry
  • Individual watch sales ranging from £190.00 to £38,000.00
  • Seven figure National TV Advertising Campaign scheduled for 2021
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Key features

  • Secondary Market
  • Nominee investment min. £21.65 +
  • Direct investment min. £20,000.00 +

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.

Key Information

Management Team:

Two of the three Directors of the Company are employed part-time. They are available to the business at any time, and attend a weekly management meeting.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This campaign for TIME-TO-FIND has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 12 March 2021 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.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

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 £4,770,666

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.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

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).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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