Part 1
A ten week process to establish everything required to be in a position to raise, covering the thesis, brand and product, sustainability standards, business plan and model, structure and the full capital readiness pack.
£34,000 fixed · 10 weeks
50 service lines across 6 sections
Executive Summary
The sprint converts an idea into an institutional proposition by establishing the demand case, defining the customer and testing the platform against the operators it will be measured against, all of which is completed before any approach is made to capital.
It then fixes the product itself, setting the prototype campus, its use mix and area schedule, the membership architecture and the sustainability standards that would underwrite a green financing route if that route is used.
It closes with the controlling documents of the raise, comprising the business plan, the integrated model, the organisation structure proposal, the investor materials, an indexed data room and a qualified target list.
Commercial Overview
Scope of Services
1A
8 lines
Preparation of the investment thesis setting the demand case for the product. The desire for the resurgence of human connection in real life, wellness and the intersection of both with our living spaces.
Thesis paperDefinition and segmentation of the target customer across member, resident, guest and tenant.
Customer definitionAssembly of the demand evidence base across membership, wellness and residential markets.
Evidence baseCompetitive profiles of Soho House, Equinox and Equinox Hotels, The Whiteley and selected branded residential operators. North America, Europe and Asian review.
Competitor profilesBenchmarking of membership pricing, structures and retention across reference operators. Review of growth profiles, raise strategy and OpCo set ups, and production of hierarchical ideals for the company structure.
Benchmark setWhite space analysis and the positioning conclusion for the platform.
Positioning conclusionConstruction of the city screening model across Toronto, New York, Vancouver, Boston, Montreal and Chicago.
Screening modelRecommendation of the market entry sequence with supporting rationale.
Entry sequence1B
12 lines
Development of naming territories and shortlist criteria.
Naming territoriesDrafting of the positioning statement and brand architecture across club, residences, hotel and rental.
Brand architectureSetting of tone of voice principles and visual direction references.
Voice and directionCompilation of the agency brief and the shortlist for issue.
Agency brief · OptionalDefinition of prototype campus use mix ratios across club, wellness, sale, hotel and rental.
Use mixPreparation of the indicative area schedule by component.
Area scheduleSetting of minimum and preferred site parameters to guide acquisition screening.
Site parametersDesign of membership tiers and entitlements.
Tier designSetting of membership pricing corridors by market.
Pricing corridorsStructuring of the founder member offer and its role in pre sales.
Founder offerDefinition of cross city access rights, renewal and waiting list mechanics.
Access rightsDrafting of the operating principles charter.
Charter1C
4 lines
Setting of design standards informed by passivhaus methodology.
Design standardsSetting of certification targets by asset across LEED, BREEAM and WELL.
Certification targetsDefinition of the operational net zero pathway.
Net zero pathwayDefinition of green financing eligibility criteria and the evidence the platform must maintain.
Eligibility criteria1D
7 lines
Preparation of the integrated business plan as the controlling narrative document for the raise.
Business planPreparation of the rollout plan and city sequence.
Rollout planCompilation of the risk register with mitigations.
Risk registerConstruction of the OpCo revenue model by site and membership cohort.
OpCo modelConstruction of PropCo deal level underwriting on forward purchase and forward fund bases.
Underwriting modelPreparation of programme cash flows with sources and uses.
Programme cash flowsPreparation of sensitivity tables and the documented input sheet.
Sensitivities1E
8 lines
Analysis of OpCo and PropCo separation.
Separation analysisAnalysis of holding company jurisdiction and intellectual property ownership.
Jurisdiction paperDesign of the management and licence agreement architecture.
Agreement architectureBriefing of cross border tax considerations for Canadian and United States assets held with United Kingdom and European capital, including scope for third party advice.
Tax briefPreparation of the instruction brief for counsel.
Counsel briefDesign of board composition, appointment rights and the reserved matters schedule.
Board designDesign of the management incentive and option framework.
Incentive framework · OptionalSetting of the reporting calendar and information rights.
Reporting calendar · Optional1F
11 lines
Preparation of the capital strategy and raise sequencing paper.
Capital strategySizing of the OpCo seed and its use of funds.
Seed sizingDesign of the PropCo programmatic joint venture structure and tranches.
JV designSetting of the debt programme approach on stated assumptions.
Debt approachPreparation of the OpCo teaser.
TeaserPreparation of the OpCo investment presentation.
Investment presentationPreparation of the PropCo programme information memorandum in outline.
IM outlineDesign, build and indexing of the data room with access controls.
Data roomMapping and qualification of the investor universe with routes to introduction.
Qualified listWeekly steering meeting with a maintained decision log.
Decision logPreparation of the closing board presentation with the go or no go recommendation.
Board presentation