Two Investing Non-Executive Directors are required for our client who have created a B2C Networking data capture platform designed for and targeting the world of golf, the company is based in London.
Phase 1 of the platform has just been released comprising of the CLUBHOUSE Network targeting golfers and golfing groups with the defined aims of getting players and people to meet, talk and arrange to play golf. The website also offers current real-time golfing content through its news feed along with the chance to get those often-unanswered technical questions resolved by the companies PGA professional coach and advisor Kevin Bohan. The company is starting to expand its current offering with insight into the health and wellbeing within the game, with future plans of forming its own all-inclusive Golfing Foundation taking golf into the community targeting all aspects of the game from course golf to fun golf. The company is also playing a major part in a charity golf day tournament in June at the Burstead Golf Centre in Billericay, by co-sponsoring the event on behalf of The Lennox Childrens Cancer Fund and they see this type of marketing venture alongside future talent development as a key factors within their marketing plan.
The development of the complete seamless ecosystem sits at its core values of a single destination single payment option app giving all users quick and easily access to everything, they need to play the golf they wish to play, and they see this as a key aspect in their growth and product delivery which is free at the point of use. Revenues are sought via advertising, affiliate marketing and 3rd party sales on a B2B commission basis keeping within the company’s ethos of not charging either player or course operator directly.
The golf industry is currently in a growth phase, with almost 67m formally registered course golfers playing globally – this represents only 15% of the est. total tee to green participants, leading us to believe that including the unregistered fairway golfer, globally it is nearer 400 million, average spend per head per annum is $800-$3,500; the course market is not only large, but also affluent, total value being in the region of $84bn* in direct sales only. However, the game is also going through massive changes, with traditional memberships now in decline and the profile and needs of the individual golfer changing. A recent survey reported in Women & Golf on the 1/4/23 showed the following statistics:
- 64% of members at UK golf clubs are over 50, with 21% aged over 70
- Just 15% of club members are women
- Only 9% of club members are juniors
- The number of new members joining clubs is falling; clubs reported an average of 90 new members in 2020 and 2021, and 70 in 2022
- 52% of clubs had waiting lists in 2022 compared to 60% in 2021
This can be borne out by the companies CEO and Co-Founders, who play golf for fun and have walked away from the traditional limiting member concept, preferring instead to play any golf course they can within the UK and ROI or even globally.
We are seeking two Non-Executive Directors, who wish to join us on our journey and can offer, not only financial investment, but as equally as important the skills, knowledge, and contacts to help drive and scale the company to the global heights the current board believe it can achieve. The 2 principal shareholders and Co-Founders, Shon & Laurence Alam have bootstrapped to this point and are seeking a minimum investment of £25k per investing Non – Exec. Investors do not have to be golf people at the macro level, but moreover have to understand and be able to demonstrate scalability and fundraising attributes.
Business Plan:
Our client is pursuing an overall investment target for Year 1 of £175k for 10% equity for the following use:
- Building of the platform – budget is £40k
- Implementation of Sales and Marketing plan - £169,400k
- Y1 revenue expectation £325k
Roles:
- The company’s Board is seeking to add two Non-Execs with sales and marketing and finance expertise to provide the expertise to enable the company to expand the existing team's skills, adds value providing the advice and connected resource to help the company reach its goals.
- The Non-Execs will be encouraged to invest in the company, so their goals are aligned with those of the Founder and the Executive.
- The contribution of each Non-Executive Director, which is expected to be two days per month after the initial work to get the company up and running, will be directed towards achieving specific goals or targets, and reward mechanisms exist for achievement (defined below). There is an expectation that incoming NEDs will leverage their networks to assist the company in achieving its goals. The specifics around the role are developed and agreed to complement the existing skills and expertise on the Board with the incoming Non-Execs.
Non-Exec Director Role / Requirements / Expertise:
We are seeking two Non-Executive Directors with skills listed below:
- Finance – Knowledge of raising funds with open door contacts on a national and international level to ensure the company objectives of becoming a global entity within 3 years is met.
- Sales – Knowledge of the 3rd Party direct partner relationship creation via an ecosystem environment. The ideal candidate would have strong relationships on a cross sector basis as the company looks to turn its specific user focus into a general shopper.
- The Non-Executive Director is encouraged to become a shareholder with a minimum £25k investment in the company to align their interest with that of the existing Directors who are all shareholders. The company is registered for the EIS scheme which provides 30% tax relief and up to 100% capital gains relief subject to status.
Applying for the role:
Candidates who feel they meet the above criteria are invited to apply having first registered their CV with First Flight Non-Executive Directors (if they have not already done so – there is no charge) by using our “Apply for Role” tab for role no: 1196 and completing the application form explaining how they match the key criteria we have set out for the role.
Closing date for applications: Friday, 30th June 2023
