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Equity
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Gábor Margés team 5
Gábor Margés Utrecht, NL

MeetJune

MeetJune - The online global marketplace to discover unique and affordable travel experiences via meals, homestays and activities.

$87,494 INVESTED
100%
$87,494
Required
13.85%
Equity
The concept

MeetJune successfully passed their funding target of €65.000 and are now overfunding! Therefore, an extra 1,85% in equity is being offered, and the funding target has been raised to €75.000.

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Become part of one of the first worldwide travel platforms that bridges the gap between travellers and locals, promoting unique and affordable travel experiences via meals, homestays and activities. Our first 3 launch cities will be Amsterdam, Buenos Aires and Istanbul


The concept of MeetJune is based on the worldwide emerging trend of the sharing economy. An economy that is expected to grow from a revenue of $15 billion in 2014 to an estimated revenue of $335 billion by 2025. Looking further ahead to the travel industry as a whole, solid growth will be driven by emerging markets due to a surge in first-time travellers. The ’new world middle class’ is expected to double by 2030, resulting in 1.8 billion people eager to travel around the world.

Unique Selling Points

  • MeetJune is a highly scalable, global company. There are no constraints for geographic expansion, as all transactions happen in English and online. The expectation is to see exponential growth drivin by the snowball-effect;

  • We are one of the first global travel platforms to directly connect travellers and passionate local hosts; and the first one to offer 3 services (meals, homestays and activities);

  • We are people-focused instead of experience-focused. Our concept is all about heart and authenticity.

Revenue model

The main source of income for MeetJune will come from the 15% profit made from all daily bookings. 

Example: a host offers an experience for € 50. When a traveller books this experience he pays € 50 to MeetJune. After the host conducted the experience as agreed with the traveller, MeetJune will transfer € 42,50 to the host and will make € 7,50 profit.

Achieved so far

We currently have our landing page up and running. Our road to official launch will mainly consist of (order of importance): the crowdfunding campaign, website development, launch of the beta version of the website and our official launch in September - 2015.

Required investment and purpose

In order to start the way we envisioned it we need € 65.000 start-up capital. This capital will mainly be spent on pre-operational expenses (website and product development) and launch support (marketing) for the first 5 months.

For the investor

Based on the Equidam Valuation Report, MeetJune is valued at € 494.400. Based on this valuation the equity percentage offered for an investment of € 65.000 is 12%. Estimated break-even point will be reached after 17 months. From that moment on we will start to pay dividends to our shareholders at a rate of 10% of the after-tax profit.


EBITDA forecast

Year 1 | Turnover: € 382.314 | EBITDA: - € 26.173  
Year 2 | Turnover: € 4.598.147 | EBITDA: € 283.582 
Year 3 | Turnover: € 24.899.873 | EBITDA: € 2.868.901

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Gábor Margés
Head Officer & Co-founder

Gábor is from The Netherlands but has roots in Asia and the Middle East. He holds a Commercial Economics (BA) degree from the Hogeschool Rotterdam. He travelled the world, from crossing the South American continent to camping with nomadic people in Tibet. He is a successful creative travel entrepreneur for over 5 years and a passionate advocate of the many benefits of the sharing economy.

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Yuri Lau
Marketing Officer & Co-founder

Yuri is from The Netherlands and holds a master’s degree in Literary Studies from the Universiteit Utrecht, and specialized in Cervantes’ Quijote. He’s fluent in Spanish, English, Portuguese and Dutch. Yuri has lived in Spain, Brazil and Argentina and uses his multilingual abilities to provide a range of web marketing and translation services.

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Ryan Dorn
Communications Officer & Co-founder

Ryan is originally from Indianapolis, Indiana (USA) and holds a Philosophy/Political Science (BA) degree from Indiana University-Bloomington. He also has lesser degrees in Spanish, Economics, and Liberal Arts & Management. Ryan has travelled across South America and has used his passion for technology to grow both professionally and personally in his web-focused marketing career.

The product

Become part of one of the first worldwide travel platforms that bridges the gap between travellers and locals, promoting unique and affordable travel experiences via meals, homestays and activities. It`s a home for anyone looking to experience honest local culture through experiences created and hosted by passionate local hosts.


The concept of MeetJune is based on the worldwide emerging trend of the sharing economy, also known as collaborative consumption. The growth of the sharing economy within the travel industry is based on:

  • Supply: growth of the entrepreneurial activity as people increasingly look for alternative sources of income and sustainable economic models;
  • Demand: massive amount of first-time travellers coming from emerging markets and looking for good value alternatives; customers from developed countries increasing their travel frequency and looking for value for money combined with more authentic experiences for their travel and holidays.

The travel industry trends reinforce the relevance of MeetJune. It is expected to grow consistently over the next decade, driven by a surge in first-time travellers from emerging markets. The ’new world middle class’ is expected to double by 2030, resulting in 1.8 billion people eager to travel around the world.


Our core values

The core values of MeetJune are based on a three pillar business model. The pillars are the foundation of everything we do and they help shape our corporate culture and ensure that we go above and beyond the expectations of our customers and partners.

  • Quality: we’re dedicated to thoroughly screening our hosts in order to ensure they are qualified to organize an experience. This screening process includes a random personal check-up, an online application, a verified ID check and a quarterly catch-up. A traveller at the other hand needs to subscribe via email or Facebook which will serve as a first security check, furthermore we will check its identity via phone, email and we will verify his ID;   
  • Reliability: our end of the day objective. We have an outstanding system in place to ensure that every step of the experience we offer will be duly executed. The system includes: a verified supplier system, references cross-checking from both hosts and travellers and a secure payment system;
  • Service: our travellers and hosts form the core triangle of MeetJune. In order to keep them satisfied we will provide them with an adequate high service level. Our aim is to answer and/or solve all questions and/or problems as quickly and sufficient as possible via our multi-channel customer service.

Unique Selling Points

See "Summary" section.

Scalability

MeetJune is a highly scalable, global company. There are no constraints for geographic expansion as all transactions happen in English and online. The expectation is to see exponential growth driven by the snow-ball effect.

Current status

See "Finance/Invested so far" section.

Planned developments

We currently have our landing page up and running. Our road to official launch will mainly consist of (order of importance): the crowdfunding campaign, website development, launch of the beta version of the website and our official launch in September - 2015.

Target group

We identified a specific target group that would be receptive to the experiences of MeetJune, the “Global Experience Seekers”. Global Experience Seekers can be anybody above the age of 16. The group is defined by their focus on unique, involving and personal travel experiences. They are more informed, interested and curious about potential destinations and don’t want to follow the beaten path. They are mainly based in Europe, North America, Asia and Oceania and are less affected by traditional barriers to travel such as distance and time.


Our core group within the Global Experience Seekers are the “Millennial’s” which form the next rising wave of consumers. They are formed by both genders and are in between the age of 16 and 34. They share 3 key characteristics:

  • Explorers, Never Tourists
    Millennial travellers want to explore their destinations and hate the idea of being considered tourists. These travellers crave adventure and seek out unique and authentic experiences while travelling; 
  • Customization is Key
    Millennial travellers favour an a la carte menu of logistics, amenities and activities when planning their trip to create a highly personalized experience. They value a distinctive experience that aligns with their individual identity and to display on social media. They seek a stimulating “touch and feel” environment that still takes them to a different world. 
  • Technology Enables Communication and More
    It’s no surprise this generation of travellers is more tech-savvy. Communicating through social media and keeping in touch with friends and family through mobile technology is very important. Technology also provides an added sense of power as they access vast amounts of information any time they desire. Millennial travellers want the speed and convenience of an online purchase and also value the comfort and security that constant connectivity brings, in the event they need assistance while travelling.

Market size

MeetJune will be launched in Amsterdam, Buenos Aires and Istanbul. We are roughly talking about 21 million yearly overnight visitors and 18 million inhabitants. When it comes to visitors we assume that 20% - 4.200.000 million visitors belong to our target group and when it comes to inhabitants we assume that 10% - 1.800.000 inhabitants are able to serve as a host.

Competition

Though we don’t have like-for-like competitors, we do have competitors for our individual offerings of meals, homestays, and activities. Most of these companies are experience focused, rather than people-focused. Though several proffer a personal, handwritten logotype, the personal experience is limited to brand visuals and is not extended to brand values. This presents an opportunity for MeetJune to further define ourselves against the travel sharing industry by focusing on the people/hosts and intimate interactions with customers.


Our main competitors in order of meals, homestays and activities:

  • Eat With  |  Local meals
  • VizEat  |  Local meals
  • Couch Surfing  |  Local homestays
  • Airbnb  |  Accommodations and experiences
  • Vayable  |   Local experiences
  • Trip4Real  |  Local experiences

Customer feedback

The feedback of potential customers about our concept is very promising.

New customers

Our aim is:

Year 1 | Hosts: 659 | Bookings: 4.446   
Year 2 | Hosts: 4.514 | Bookings: 53.467  
Year 3 | Hosts: 16.508 | Bookings: 289.533

Sales pitch

Become part of one of the first worldwide travel platforms that bridges the gap between travellers and locals via meals, homestays and activities. MeetJune is a home for anyone looking to experience honest local culture through passionate local hosts.

Marketing & sales channels

In order to reach our target audience, we will implement a two-part marketing strategy on multiple, self-reinforcing channels. Three of the most important non-organic paid channels at the start will be SEM (Search Engine Marketing), Media Bannering on Third party sites and SMM (Social Media Marketing). Our main marketing goal for our first 3 host cities in the first 6 months, is to reach a total of 157 host inscriptions.


After each period of 3 months/30 hosts we will gradually allocate more budget to the traveller segment. Before creating campaigns we will create customer segments in a communication plan that defines all the user personas for MeetJune. Based on these user personas we will create corresponding ad copy and landing page copy.


Another fundamental marketing channel we will develop in parallel is Search Engine Optimization (SEO), to ensure a good positioning of the website in search engines on a variety of keywords relevant for MeetJune’s target audience. After receiving the initial host and traveller subscriptions, we will have regular communication flows with travellers and hosts through email marketing campaigns.

Marketing objective

6 months after we launched our first 3 host cities, we will expand with 3 new host cities every 3 months, closing the year with 9 host cities. Growth is expected to accelerate in years 2 and 3. Five new cities will be added every quarter during year 2 and every two months during year 3, achieving 57 host cities at the end of year 3. Every host city will have an average of 280 hosts, which sums up to almost 17 thousand hosts at the end of year 3. This will result in an accumulated turnover of € 30 million with an accumulated profit of € 3.1 million at the end of year 3.


The acquisition of hosts in every new city will be supported by marketing investment until the threshold of 30 new hosts per city is reached. Once this figure is reached, marketing for hosts will be shifted to a new city, restarting the cycle. Marketing targeted on travellers will start immediately after 15 new hosts subscribed via our website.


The average occupation rate is expected to increase as MeetJune gains popularity. Our estimation is an average of 1.3 guests per host/month during the first 6 months of each new city, 1.7 guests per host/month in the following 12 months and 2.8 guests per host/month from month 19 on. The average price per booking is estimated at € 86, considering the importance of meals, homestays and activities.

Projected turnover

6 months after we launched Amsterdam, Buenos Aires and Istanbul we will expand with 3 new host cities every 3 months, closing the year with 9 host cities. Growth is expected to accelerate in years 2 and 3. Five new cities will be added every quarter during year 2 and every two months during year 3, achieving 59 host cities at the end of year 3. Every host city will have an average of 280 hosts, which sums up to almost 17 thousand hosts at the end of year 3. This will result in an accumulated turnover of € 30 million with an accumulated profit of € 3.1 million at the end of year 3.

Assumptions

The estimated turnover is based on a decent marketing strategy to create enough brand awareness, get enough hosts in and therefore reach the amount of bookings/turnover we are aiming at.  

Invested so far

Along the way we constantly tweaked the concept to be able to come up with something that will not only be of great value for our travellers and hosts, but as well for the brave investors who joined us on this journey. We have already received € 15.000 as an initial investment from private investors. This amount is used for legally establishing MeetJune and to cover pre-operational expenses.

Investment requirement

Based on our investment plan we need € 65.000 in order to start the way we envisioned it. An investment of € 65.000 equals 12% equity.

Purpose of investment

Our start-up capital will mainly be spent on pre-operational expenses (website and product development) and launch support (marketing campaigns).

Return

Based on the Equidam Valuation Report, MeetJune is valued at € 494.400. Based on this valuation the equity percentage offered for an investment of € 65.000 is 12%. Estimated break-even point will be reached after 17 months. From that moment on we will start to pay dividends to our shareholders at a rate of 10% of the after-tax profit.

Risks

There are no significant investments made in fixed assets which reduces the risk of this start-up. The main risk of this start-up is a lack of brand awareness. For this we have a decent marketing strategy in place which can be tweaked along the way. This to ensure that we create enough brand awareness, get enough hosts in and therefore receive enough bookings.