Katie’s House, a club that is dedicated to families with pre-school children, has launched an equity crowdfunding campaign on Crowdcube to raise a minimum of £320,000 as it prepares to open three locations in the city of London.
The club, which was found by opera singer and provider in baby and toddler music classes across West London, Katherine Sayles, offers up a stimulating environment for young families to spend quality time together. Katie’s House provides four main services; play, education, events and food/beverage.
“Over the past 18 months the company has gone from strength to strength creating the core team, site designs, agreements with brands and industry specialists while offering pop up clubs (Katie’s Club) across West London. These two hour clubs provided bite-sized tasters of their vision and already had parents paying the similar annual rates as 7 day a week competitors charge per year for full facilities in permanent sites.”
Katie’s House revealed that it is looking to roll out three sites by 2020 (adding a new site every two years). If the Crowdcube is a success, the club will launch its first site in September 2016. The funds will be used for the refurbishment cost of the building, the equipment (play areas) and a small amount used towards general set up costs (training, licenses, systems).
“After the initial equity raise, this growth will be financed organically and, as appropriate, with bank debt. Revenue is driven by growth in number of sites, leading to increased membership sales and food and beverage spend (c.50% of revenue).”
Since its launch, the Crowdcube initiative has successfully secured over £70,000. It is set to close at the end of June.
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