Offercard

Offercard was formed to provide the missing link between old world shopping and modern day technologies, specifically for towns and villages across the UK.

Offercard is the trading name for Mytown Technologies Ltd

Offercard

LONDON | United Kingdom

offercard.global

  • Introduction

    The missing link between old world shopping and modern day technologies.

    The company creates a branded membership card for each town, enabling residents to shop locally and receive discounts. The company is also introducing an online grocery ordering service, to support local shops & stores. The 3rd source of income is from advertising in the exclusive offers directory.

    In-store revenue is generated from either an annual subscription fee or a fee per transaction if members use the debit card or mobile app to pay.

    Online revenue is generated from members buying groceries online or with cash. Offercard drivers or riders pick up the goods and deliver as one purchase.

    Offercard Business Model

    Offercard business model

    Value Tracker
  • Management

    CEO – Dominic Brookman: 20 years in point of sale technology and media. Over £50m in corporate transactions and has successfully sold companies to major international buyers.

    COO – Daren Hicks: Highly experienced technology FD and operational delivery. Day to day responsibility for delivery.

    Sales – James Tadgell: Responsible for signing up new partners and sponsors.

    Design & Customer Experience - Efosa Omorogbe: Ex Ogilvy & Mather designer with huge talent and flair. Has designed the front end GUI and is responsible for client liaison.

  • Market

    Our core market is local businesses and residents, and our revenue is derived from in-store, online and advertising:

    In-Store Discount Membership Cards

    Tastecard are the market leader with circa 3m members and 6,500 partners. They were sold for circa £100m recently. Their main focus is on restaurants and national brands (Pizza Express etc.). Our point of difference is the focus on local offers and a cross section of shops, restaurants, beauty spas and local businesses

    Volopa Lifestyle have circa 1,500 partners contracted but only 2,000 members.

    E-commerce

    Until recently there was a local e-commerce provider for the grocery sector called Hubbub. They have closed down due to not being able to sign up enough paying members (they had circa 1,500 paying members)

    Other suppliers in this market include the major supermarkets and Occado, and organic food suppliers such as Abel & Cole.

    Our point of difference is the concentration on local grocery partners, whilst providing an in-store membership card as well. The membership card enables us to sign up members at a greater rate than Hubbub, whilst maintaining the local presence.

  • Products/Services

    Offercard In Store – Subscription Card and Pay per Transaction

    Subscription Model:

    £25 per member per year for the card or £3.99 per month for the digital Offercard

    Pay Per Transaction Model:

    Free app download and then circa 3% per transaction from either the debit card or the e-wallet. The debit card is provided as a white label product by a Mastercard branded card supplier, and automatically calculates the % due to us from each transaction. The e-wallet uses Mango Pay and requires integration to our mobile app and website. Once again, this system automatically calculates the % share to be paid to Offercard, and the amount to be paid to the partner business.

     

    Offercard Online – E-commerce and Delivery

    We have partnered with an e-commerce early stage company called Grocemania. The partnership has resulted in the creation of a JV (joint venture) between Offercard and Grocemania, but branded in line with each town and the card that we create. The steps involved are signing up the grocery partners (most are already on-board with the discount card) and photographing and cataloguing their items for sale. Once this is done we can integrate with the delivery module, and recruit our drivers for the test phase.

    Offercard members can then get discount offers in store and on-line with us.

    Drivers/riders will be sent the order via smart mobile phones and then collect from the stores and deliver to the customer as one order.

    We will charge £2.50 per delivery if it is under the initial threshold of £20.

    We will make 20-25% from each transaction.

    Members can use the same app for in-store offers as to purchase online.

    Rewards points are automatically updated on the system

     

    Advertising

    We partner with a number of outsourced local advertising sales companies to sell advertising in the Offer Directories and for banner ads on each town website. Ad space is booked prior to the commissioning of the Offer Directories, enabling us to cover our marketing costs in each town. The advertising will also contribute to general overheads

    Ad rates vary from £200-£700 per client for exposure in the directory.

    We would aim for gross revenues of £15k-£20k per town, and receive 50% net from our partners.

  • Milestones

    Roll Out Plan

    • Barnes - Live
    • Sheen & Mortlake – April
    • Putney – May
    • Wimbledon – June
    • Richmond – July
    • Clapham – August
    • Chiswick – September
    • Chelsea – October

    We will then continue to roll out across West and South West London until we reach our initial targets, and then we will expand to other parts of London and beyond.

    We are working with our outsourced advertising sales partners to determine suitable towns outside of London.

  • Key Data

    Segment Ignite
    Market identifier OFC
    Name Offercard
    Short name OFC
    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, 4th Floor, 20 Woodstock Street, London, United Kingdom, W1C 2AW

    Offercard is being incubated at the offices of Angel Equity in London