Cutter's Club

Idea

Introduction

The on-demand economy is exploding. Whether it’s Uber for transport, Deliveroo for food, or Urban Massage for wellness, it’s 2019 and people expect essential products and services to be delivered to them... now! Why should the barber industry be any different?

It shouldn’t, and we’re changing that. With our easy to use web app, you can choose your barber, book for a time and place that suits you, and we’ll come to your home, office, wherever, for your regular haircut and clean up afterward.

Within a few weeks of launching our MVP, and with minimal marketing, we had hundreds of signups, 80 bookings, a 9.4/10 satisfaction rating, received fantastic reviews, and proved there's a strong demand for our service. On top of this, we now have 250+ barbers signed up.

Now, we’re launching the second version of our product in East London, the area with our most MVP bookings, with the aim of expanding further afield shortly after. We’re using this crowdfunding campaign to fund user acquisition for this launch.

Join us on our mission to change the way we access grooming services, globally!

Intended impact

One day, our founder, William Despard, booked a haircut on an online booking platform. The whole process including traveling, queueing and the actual haircut itself took almost 2 hours, and he thought there must be a better way to do this!

So we started Cutter’s Club, introducing an easy, no-excuse way for people to get their haircut. But Cutter’s Club isn’t just for customers, it was born from the discovery that barbers are frustrated with the lack of flexibility that traditional barbershops provide. So we flipped the market on its head.

After proving there’s a strong demand for our service from both customers and barbers, we’re on a mission to change the way we access grooming services, not just in the UK, but globally. We believe we're addressing a huge venture scale market that is ripe for disruption

Substantial accomplishments to date

- Delivered our MVP to market and proved there’s a strong demand for our service. Within a few weeks of launching, and with minimal marketing, we had hundreds of signups, 80 bookings and received fantastic reviews.

- When asked how likely they were to use our service again, our early adopters gave an average of 9.5/10.

- When asked how likely they were to refer our service to a friend, our early adopters gave an average of 9.2/10.

- Fostered a network of 250+ barbers.

- Won the Launch22 pitch competition.

- Completed development of our web and mobile apps in house, using feedback from our MVP users, and are now taking pre-bookings in preparation for our launch.

Monetisation strategy

Currently, we charge £29.99 for a haircut and £7.49 for a beard trim. However, users can subscribe to save up to 25% each booking, reducing the price of a haircut to £22.49. £20 goes to the barber, and we keep the rest, resulting in an 11%-47% margin. Our future monetization strategies include the sale of products and expansion into other grooming related verticals.

Use of proceeds

60% of this raise will be used to fund user acquisition for the launch of the 2nd version of our product in East London. Specifically, we'll be focusing on perfecting user experience, consistency of utilisation, efficient use of barber hours, and obtaining the right growth metrics. 30% will be used on personnel, and the final 10% will be directed to other necessities such as space, software, legal etc.

Please note, we will seek SEIS relief on the first £137,000 invested. We will seek EIS relief for any amount raised after this.