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Capital at risk

MYTOWN

MyTown aims to become a leading provider of advertising & complimentary technology services to small businesses, via both internal growth, and international partnerships.

MYTOWN

LONDON | United Kingdom

mytownuk.com

Mytown is facilitating the comeback of local commerce by suppling advanced and user-friendly Rewards & Mobile payment platforms to local merchants and businesses. Buy Local!

Raised
6 601.00 GBP
Target
30 000.00 GBP
Upper target
75 000.00 GBP
Investors
N/A

26 days to go

Pledge

  • Introduction

    By using modern technology – Rewards & Mobile Payments – Mytown enables local and small businesses to compete with nationwide organisations on equal terms

    Mytown provides advertising services for small businesses, via the online business directory, discount offers site, and in the printed Info-Guides. Target businesses include restaurants, cafes, shops, salons, dry-cleaners, plumbers, builders, accountants, lawyers, car-dealers, garages, locksmiths, gardeners, and many other small, local companies, or sole traders.

    The powerful web & mobile platform has recently been completed, and the first 10 towns/cities have been selected for the official launch.  The sales team calls each business to offer them the opportunity to upgrade from a free listing, to a paid-for service. The paid-for packages will automatically elevate the business to the top of the search rankings for their category and town.

    visit the webpage – www.mytownuk.com

    The system has a search facility which enables members to find businesses near them, and unique discount offers. Offers are in 2 categories: 

    • Mytown Card Offers – These are basic offers for shops, stores, and trades.
    • Mytown Plus Offers – These are premium offers that are purchased from the web or app

     

    Mytown Card Offers

    To sign up members, the company creates a free, branded membership card for each town, enabling residents to shop locally and receive basic discounts.  The cards are placed in stylish A6 size Info-Guides, and then stocked in local shops, cafes, restaurants and salons. The Guides are also delivered to houses, and handed out to people on busy shopping days. Members can also use their mobile card to receive offers.

    Membership is free, and activation is done online. Members then use the website to search for local businesses, and unique discount offers. When they find offers that they like, they simply present their Mytown Card to receive the discount. Members are encouraged to use their mobile cards, and future offers will increasingly be aimed at mobile users.

    Revenue is generated from combined advertising packages, whereby businesses pay for advertising in the directory, and can provide discount offers as well.

     

    Mytown Plus Offers

    When members have been signed up, the company sends a list of deals nearby. For premium offers, such as restaurants, beauty treatments, and events, the company sells the deals on platform. Offers are sold on the Mytown e-commerce portal, and the company receives 25% of any deals sold.

    This revenue is in addition to any advertising income from the directory. The web & mobile web directory is aimed at providing a brilliant local service. The new mobile app will also allow members to pay in-store, using the new M-Pay function.

     

    Advertising Revenue

    Revenue is generated from local businesses via one of the advertising packages. Small businesses can create their own campaign to go-live on the web directory, and can add unique discount offers. Mytown charges either a fixed fee per month of £10-£40, depending upon the package selected, or a Cost-Per-Call advertising solution, whereby clients are assigned a unique phone number, and pay £2-£10 per incoming phone call, depending on the industry type. 

    The company started the beta test in London, by signing up 250 partners for the discount offers and web system. The test was a success, with many companies citing the advertising as having had a significant impact on their sales. Following on from this, Mytown is now expanding operations across the UK, and beyond. 

    The initial phase will see the creation of 50,000 free business listings, and the sales team will seek to upsell to as many as possible. 

    The intention is to create a mobile app, which will include the search directory, offers and an in-store mobile payment & loyalty function. The inclusion of mobile payment is pertinent, in that small businesses often do not have the funds for expensive point of sale technology, and a combined search-offers-payment facility has been very well received during extensive local research that we have run. The loyalty will offer unique rewards per business, and an overall cash-back system for buying via the app.

    The new app will enable small businesses to monitor campaign success, numbers of incoming phone calls, and online and in-store purchases.

    The payment facility on the app will not require any hardware. Instead, the business owner will need to download the app, and, using their vendor app, will be able to see when a customer has paid them. Business customers will receive the payment facility as part of their advertising contract with Mytown.

    Future integrations for the app will include on-demand services, such as those that provide for trades & services, fast food, beauty, and grocery. Other directory search businesses have already started integrating with food delivery, and Mytown is well placed to capitalize on significant growth in this sector.

    Competitors tend to operate within close confines of business strategies, such as Yell with directories (although one operator has integrated with food delivery), or Groupon with discount offers, or Zapper with in-store payment & loyalty. Mytown aims to remove some of these boundaries, and offer small business owners a comprehensive service, at low prices.

     

  • Management

    Dominic Brookman | CEO

    Dominic has in-depth industry knowledge from 20 years in point of sale technology and advertising. With previous experience dealing with Clear Channel UK and USA, JC Decaux Africa, CBS UK, Times of India, IBM Store Solutions, and NCR Retail Systems, Dominic has negotiated contracts with household named companies in both outdoor media and electronic point of sale technology. Dominic was an early pioneer in digital outdoor media, with screen networks placed in travel agents and theme parks, before completing the reverse take-over of an AIM Listed Company in 2007, and completely overhauling the business model. Put the first portrait digital screens into UK-shopping malls, and signed a 10-Year sales agreement with the world’s largest outdoor media company, before selling the business in 2012.  Over £50m in corporate transactions and has successfully sold companies to major international buyers.

    James Tadgell | Partner | Sales Manager

    James is responsible for signing up new partners to the network. Liaison with small businesses across the UK, for both the directory website and the discount offers card. Successful background in advertising sales.

    Paul Cline | Technology Solutions

    Owner of Webworks UK, a web and mobile technology services provider. Paul manages the operations for the network, on a services contract basis. Many years-experience in the I.T. sector, and has recently finished a complete overhaul of the MyTown website. Will be an integral part of the app development team.

    Efosa Omorogbe | Website & Mobile Design

    Strong design background, and full understanding of both web and mobile compatible GUI. Creates client advertising campaigns, manages the email daily offers distribution, and will be designing the new mobile app interface.

    Advisory Board

    Piers Hedley | Advisor

    Independent Advisor & Investor

  • Market

    There are 5.4 million Small Business owners in the UK. Overseas, there are many millions of small businesses.

    [source: National Federation of Self Employed & Small Businesses Limited]

    Small businesses face constant pressure from larger, multi-national companies, especially with advertising, marketing, logistics, supplier relationships, and finance.   Mytown aims to provide a unique combination of services to these SMEs, and drive revenue via a mixture of location based marketing, discount offers, loyalty and mobile payment.

     

    CORE AUDIENCES:

    • Retail: Shops, cafes, restaurants etc.
    • Trades: Plumbers, builders, locksmiths etc.
    • Activities and Services: Lawyers, accountants, theatres etc. 

    Small businesses are interested in easy to use, fast solutions, with the end result being an increase in sales. The Mytown mobile app will enable ultra-fast search of local businesses, and offers, and instead of using a credit or debit card, members would simply pay and save with the same device.

    Mobile point of sale, integrated with search & offers, will transform the way that local business owners communicate with new, and existing customers. Our core market is local businesses and residents, and our revenue is derived from in-store, online and advertising:

    Market Size Summary

    • Advertising market £21.5Billion in the UK [source: Nesta]
    • Daily deals market £1B+
    • Mobile Payments Market Report, Published by Allied Market Research, forecasts that the global market is expected to garner $3,388 billion by 2022, registering a CAGR of 33.4% from 2016-2022. 

    Fragmented advertising, offers, and payment providers

    • A variety of products and services required to operate a simple business
    • Competition from larger, better funded businesses

    Key Trends Summary

    • Apps are used daily by SMEs
    • Societal shift to digital money e.g. Apple Pay and Contactless (max £30) 

     

  • Products/Services

    MyTown has two main products: 

    • The web & mobile search directory
    • The Info-Guides

     

    MyTown Online Directory

    www.mytownuk.com

    The online business directory enables consumers to find local restaurants, shops, beauty salon, plumbers, lawyers etc, and get a variety of add-on services, including:

    • Unique discount offers with the Mytown Card
    • Customer reviews
    • Detailed information on the business, and products & services provided
    • Phone number, address, website
    • Photos of the business and its products & services
    • Town / City homepages, with information, and key contacts etc
    • What’s on guide locally

    The directory provides a great opportunity for local residents to find what they are looking for, and save money at the same time. Each tow or city, that Mytown goes live in, has a high number if offers for members to take advantage of.

     

    Revenue is generated from 2 different options: 

    • Fixed cost deal: £10+ per month to advertise
    • Cost-Per-Call (CPC): £2 per month minimum, and £2-£10 per call to a unique phone number, depending on the business type

    • Simple user-friendly mobil interface     • Search by category and location

       

    • The MyTown Card

     

    • Individual offers located on the map

     

    • Search categories   • Food & Drink and  • Health & Beauty

     

     • Search categories   • Shops and Stores and  •Trades & Services and  • Things to do

     

    MyTown Info-Guides

    www.mytowninfoguides.com

    Mytown produce a glossy, A6-size, information guide for local residents and tourists. The guides are produced annually at the moment, and each town has a different production date. The guides are made by local printers, many of whom take partial payment in the form of advertising on the website. This helps to reduce the cost of the guides in each town/city. The Info-Guides are a method for marketing the website & mobile system, and another opportunity for advertising sales.

    The guides are A6-printed booklets, which include the following

    • Town/City information
    • Map of the area
    • What’s on
    • Advertising

    Consumers pick up the guides from a stand, which is normally located next to the till. As the front cover informs people of the opportunity to save up to 50% the next time they visit, the vast majority of people pick up the booklets.

    The guides are also sent out to every local household.

    The company partners with outsourced local advertising sales companies to sell advertising in the Info-Guides. Ad space is booked prior to the commissioning of the Info-Guides, enabling us to cover our marketing costs in each town. We aim for gross revenues of £8k-£10k per town, and receive 50% net from our partners. This covers the cost of production, and marketing for the Guides.

     

    New Product Development 

    Modern day business directories go a lot further than the old-style printed books, which would provide the business contact details, and leave the customer to do the rest. Recent advances in technology allow for businesses to now interact with potential customers like never before.

    Instead of just getting information on a business, MyTown would like to help customers to do the following: 

    • Search for products and services
    • Find unique discount offers
    • Get detailed information on each business
    • Read customer reviews
    • Find out how to get there from their current location
    • Order a product (pizza etc) or service (plumbers etc) directly from the app
    • Reserve a table for dinner at a restaurant or seats at the local theatre
    • Pay in-store using the same app
    • Get online quotations for trades and services

    The company therefore wishes to further develop the website, and create a new mobile app. 

    The functionality will include: 

    1. Sale of Offers

    Whilst the Mytown Card provides members with free access to discount offers, the company intends to market premium offers via the e-commerce system. Members will have a choice to select standard offers, and simply present their discount card, and payment method, or they will be able to select a premium Mytown offer, and purchase the deal from either the app or the website.  Mytown will charge a fee of 20% per offer, and remit the balancing 80% to the business.  Members will receive a receipt, either on their mobile phone, or to be printed off. Upon presentation of this receipt, members will receive the good or services purchased from the partner vendor.

    2. Mobile Payment    

    The new app will include a mobile point of sale payment facility (MPOS). Members will be able to automatically apply offers to the payment, and simply click pay, and then leave. The app will ask members to either select a business from the list in the system menu, or they will be able to scan a unique qr-code that each business will have at the point of sale. Members will then be asked to manually input the amount, and press pay-now. The customer will receive a receipt, and the vendor will receive notification that they have been paid.

    3. Reservations & Bookings

    The system will enable members to book a table in a restaurant, a seat at a theatre, or an appointment with the local hair-dresser. Revenue will be generated on a cost per booking basis, with each of the service providers.

    4. Quotations

    The web & mobile directory will offer members the ability to search for local trades and services, and then request a quotation on-line. Revenue will be generated on a cost per quotation request basis.

     

    Integration to on-demand

    With the proliferation of on-demand companies, there are more ways than ever to order goods or services via the mobile or web. Most of the on-demand service providers work with local companies, including:

    • Restaurants
    • Hair, nail & beauty salons
    • Massage and therapy
    • Fitness coaches
    • Babysitters
    • Trades-people (plumbers, gardeners, builders etc)
    • Grocery

    MyTown intends to provide a gateway to these services, from the web & mobile directory. When members select a business or service, they will be able to filter those that provide their services on-demand. Revenue will be generated from either a cost per-lead basis with on-demand service providers, or via a complete booking.

    Competition comparison overview...

    *Note: Yelp has a link to on-demand in the USA, via its ownership of Eat 24.

     

  • Milestones

    Mytown has hit some key milestones since its formation earlier this year;

    • Development of the powerful web & mobile search directory 
    • Successful completion of the Beta test in 3 London towns
    • 250+ initial partners on-boarded
    • 50,000 business partners for free listing
    • Above average offer usage during test phase
    • Advertising space sold in the Info-Guides
    • Target of 5% of local population signed up as members
    • Relationships formed with Chambers of Commerce & local community associations
    • Mobile app fully designed

    Mytown is now looking to raise funds to complete the mobile app build, and to expand the new business sales team. With funding in place, the team will be expected to sign up 10,000+ businesses within 12 months. With such a high number of businesses contracted for advertising, offers, mobile payment, the management believe that either a IPO or strategic investor route could be explored.

     

  • Key Data

    Mytown has successfully completed the Beta Phase of the business plan, and is now ready to execute the Roll-Out Phase.

     

    Beta Date Range

    Advertising Revenue

    Businesses Signed

    Towns Launched

    Members

    Products Sold

    April-Sep 17

    £83,271.15

    257

    3

    1,000+

    Website offers

     

    After the funding for the app and sales team is in place, the business expects to reach the following targets:

     

    Date-Range

    Revenue Per Business

    Businesses Signed

    Towns Launched

    Members

    Products Sold

    2018 Full-Year

    £30 per month average

    10,000+

    50+

    100,000+

    Directory, offers, mobile payment, reservations, and on-demand

     

    Segment Ignite
    Market identifier MYT
    Name MYTOWN
    Short name MYT
    Sectors
    ISIN
    Currency GBP
    Trade post 0
    Trade start 2017-06-01
    Number of shares 176470
    Vat number
    Entity number 10474211
    Country United Kingdom
    Instrument type share
    Votes per share 1
    Stock type N/A
    Address

     

    Bond House, 20 Woodstock Street, London, United Kingdom, W1C 2AW

    MyTown UK is being incubated at the offices of Angel Equity Group in London