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Comparison site of wedding suppliers across the UK.

100%
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Funded 23 Mar 2015
£100,000 target
£101,890 from 124 investors
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Business overview

Location Brighton, United Kingdom
Social media
Website www.worldofwedmin.com
Sectors Home & Personal Mixed Digital/Non-Digital B2C
Company number 08012857
Incorporation date 30 Mar 2012
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Investment summary

Type Equity
Valuation (pre-money) £700K
Equity offered 12.54%
Tax relief

EIS

Idea

Introduction

World of Wedmin is an online platform that enables brides and grooms to find and compare wedding suppliers across the UK.

We believe the site’s functionality, displaying suppliers’ prices, availability and customer reviews in a single click, makes World of Wedmin stand out from its older directory competitors, whether online or traditional publishers.

The site is free for couples or wedding planners to use. Suppliers (other than venues) pay on a pay-per-enquiry or a pay-per click basis, with the option of moving to an all inclusive monthly subscription if they prefer.

Intended impact

We believe the wedding supplier industry to be a large but still very fragmented market. For brides and grooms, the result is that it is hard to see the range of available services and suppliers, and to compare based on values that are important to them, be it style, price, previous recommendation. For suppliers, it can be hard to be found and to present services in the best way. With marketing budgets often tight, the site helps suppliers manage their budget more effectively.

World of Wedmin is designed to solve these market problems by displaying relevant content that is easily available and comparable, saving both time and money for couples and suppliers.

Substantial accomplishments to date

Currently, World of Wedmin has over 600 suppliers registered on the website across 22 categories. All suppliers currently pay for enquiries and URL clicks they receive through the site.

The site received approximately 10,000 unique visitors in the most recent quarter and generated almost 60,000 page views for that period.

World of Wedmin is currently able to manage marketing the site and the supplier relationships with two full time employees.

World of Wedmin has had coverage in major newspapers and blogs including The Daily Mail and The Sun. World of Wedmin has also featured at major wedding shows including the Wedding Fair at Excel London. Such shows offer an opportunity to build the brand and get user feedback, which helps shape our designs for the latest version of the website.

Monetisation strategy

Suppliers (other than venues) are currently charged £3.50 for every valid enquiry they receive and £0.45 for every URL click-through, with the intention to further increase the prices in the future. Suppliers are also offered the option to pay a recurring monthly fee for unlimited clicks and enquiries.

Suppliers receive enquiries only for counties they cover and dates they have chosen to mark as available. If they believe the enquiry is not genuine, they have 48 hours to query the enquiry. All enquiries are sent directly to the Supplier’s email; suppliers can also view the enquiries through their dashboard.

The Supplier can then contact the couple directly. At this time, bookings are not made through the site. Suppliers are free to join and leave the site at any point with no notice period. From feedback from suppliers, we understand that they can typically expect to convert approximately 1 in 4 enquiries into a sale.

Currently, the venue listings are on a free trial until April 2015. From that point, we plan to charge venues £150 a year for their profile. The number of venues per county is carefully monitored to ensure we promote those venues we feel are particularly special in each county. World of Wedmin intends to open up further revenue models through advertising on its growing blog.

Use of proceeds

World of Wedmin intends to spend the investment on the following:

- New website to support additional business models and improve conversion
- Employment of full-time web developer to react quicker to market needs
- Search Engine Optimisation to drive organic traffic
- More extensive marketing campaigns through Facebook Ads and Google Adwords to drive enquiries
- Sponsorship and presence at major wedding trade shows and industry competitions to boost brand awareness and develop partnerships

Market

Target market

The market is the wedding market which can be further subdivided into the "user" (couple) and the “supplier” (provider of wedding service). For the platform to be a success, it requires both markets to be equally involved with the website.

Characteristics of target market

In 2012, the provisional number of marriages in England and Wales increased by 5.3% to 262,240, from 249,133 in 2011. The greatest number of marriages was for men and women aged 25 to 29.

According to MoneySavingExpert, the average UK wedding spend = £18,000.

We estimate that a typical wedding couple may contract with between 10-20 suppliers across varying categories.

We believe we understand the target market because the CEO of World of Wedmin has significant experience in the wedding industry through his music agency (Music Students for Hire) which provided live music for over 300 events around the UK in 2013-14. His knowledge of how to build a successful service online and offline is integral to the success of World of Wedmin.

Marketing strategy

We plan to reach the market by:

Search Engine Optimisation (SEO). Building a SEO-friendly environment for search engines and by continuously adding unique, relevant content.

Social media. With both users and suppliers using Social Media heavily for wedding administration, promotion and recommendation, World of Wedmin takes full advantage of free media particularly by sharing content on Facebook, Pinterest and Twitter.

Blog. The site's unique blog, running since May 2014, enables World of Wedmin to demonstrate an individual “voice” in the crowded wedding community. The blog focuses on “Real Weddings”, tips for Wedding Couples and supplier spotlights along with developing partnerships with related, relevant businesses.

Generate Pay-Per-Click (PPC) traffic. This is expected to be mainly achieved with carefully targeted Google Adwords and Facebook campaigns.

Trade shows. World of Wedmin exhibited at the National Wedding Show in Earls Court in September 2013. World of Wedmin also sponsored the Champagne Bar at the Wedding Fair at the Excel Arena, London in September 2014.

Public relations. World of Wedmin has already had coverage in the The Daily Mail and The Sun and key online websites and blogs including the Mail Online and Yahoo.com. Our freelance PR department is focused on getting articles, links and comments in online papers and blogs, so we can monitor the traffic PR brings to the site and also improve our Search Engine Ranking.

In general we use the same media for attracting suppliers as we do for users.

Competition strategy

Our service is aimed at DIY weddings across the UK which we believe are becoming ever more popular as users become accustomed to browsing online. We are not aiming to compete with wedding planners, high-end weddings or wedding fairs. Instead, we are competing in the main with traditional display advertising directories.
We aim to offer unique search functionality, fresh content and trusted reviews, in order to make the World of Wedmin name synonymous with wedding planning. We believe that the unique experience, along with the ability to save time and money, will make World of Wedmin a necessary tool for anyone planning a wedding.

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

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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

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 Wedding Planner has been approved by Seedrs Limited (trading as Republic Europe) ("Republic Europe", "us" or "we"), as of 9 January 2015 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 £700,000

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

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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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