nova mobile workplace investment opportunity by: NOVA mobile workplace MAR 1 / 2012

Transcription

1 nova workplace investment opportunity by: NOVA workplace MAR 1 / 2012

2 Our concept 1 Business case The office walls are coming down. Confined cubicles no longer make sense for a growing segment of the workforce. Increasing use of devices in the working world demands a more dynamic alternative to the traditional office space. Nova is the new future of the work environment a comfortable and amenitized gathering space, open to anyone needing a touchdown space for an hour, a conference room, a color printer, or even just a good cup of coffee. The Nova concept calls for a national chain of membership-based and pay-as-you go work centers that bring the parts of the traditional office desired by the nomadic workforce into one curated space, overlaid by cutting-edge technology and impeccable service. Our target: workers Our target market is the distributed workforce in this country. It is difficult to quantify the size of this market with any precision. If we define the worker as any worker using a device (laptop, smartphone, tablet) who accesses networks for work purposes, as does IDC, the estimates range up to 114 million in the U.S., or approximately 74% of the workforce, and growing. The workers can be further divided into three categories: Non-office based, office-based and home-based as shown in the graphic below. Non-office-based workers Office-based workers Home-based workers As of yet, no single brand has put together the right space, amenities, and magic that would capture a full range of submarkets and emerge as the national leader in the quest to provide the solution for the workforce. field workers on-location occasionally workers (some travel) nontravelers (office) professional (travel) professionals (telecommuters) telecommuters home-based business workers professionals no traveling (home business) occasionally (telecommuters) (home business) occasionally (telecommuters) Based on our focus group data and market research our initial target customers can be found in the subcategories we have highlighted in Orange, Blue, and Yellow. These combined groups represent approximately 20% of the projected workforce or potentially 24 million people. These users fit the demographic of being trend-forward, with higher levels of disposable income and value a non-traditional corporate culture. This group will provide the base market from which the Nova brand can launch and grow. NOVA workplace MAR 1 /

3 1 Business case what are the current solutions for the workforce? serviced office what is our solution? NOVA The one space that combines the best features of the competitive set and offers that experience in multiple locations across the country. Comfortable and Cozy Space User-friendly Technology inclusive exclusive coffee shop / cafe Front Cafe Attractive Pricing Concierge Service Easy access 80% national brand / 20% local feel what is our competitive advantage? Current Solution Space. Premium Café. Service. Serviced Office (Regus, etc.) Conventional office look, cut up space, few windows Elevator accessed floors, not easily accessed Management driven experience Fixed payment plan Nova Open lounge, cozy and attractive setting with window views Retail or ground level for easy access User driven experience Variable and easy payment offerings hotel lobbies / conference centers Starbucks Primarily a coffee & social center No printer, copier or other equipment No meeting space No membership opportunities Neighborhood Co-working Select class of workers, e.g. techies, start-ups, etc. Tends to be casual and personal Lacks food and beverage options on-site No services, on-your-own Nova Primarily a curated work environment High end office equipment Multiple meeting spaces Membership options Nova Democratic and open to all Offers higher end space and more anonymity Premium food & beverage service on-site Concierge service neighborhood co-working center Hotels Primarily in business of selling rooms Often remote and inconvenient Guest experience only Limited services Nova Primarily a curated work environment Convenient and easily accessible Community & networking opportunity Concierge service NOVA workplace MAR 1 /

4 Hourly Usage copy/ print/ 2 Solution: SPACE supply NOVA large conference Per hour $10.00 Per day $45.00 What s included: typical FLOOR plan approx s.f. women s desk men s phone room area Open touch-down desks Lounge and open collaborative work areas White board and pin up space General Office supplies Phone rooms High-speed internet services Networking across industries Additional Charge: printing & copies cafe / coffee concierge service conference spaces private office decompression space desk area quiet zone Membership Private offices cafe / coffee social hub touch-down think tank Monthly Membership $ Annual Membership $7, *corporate volume discounts available fireplace lounge touch-down What s included: touch-down Additional Charge: welcome dashboard touch-down open meeting open meeting Dashboard Social Hub Touch-down Unlimited access Designated desk with storage Open touch-down desks Lounge and open collaborative work areas White board and pin up space General Office supplies Phone rooms High-speed internet services Networking across industries Private offices (with reservation) Conference space (with reservation) Decompression room (with reservation) printing & copies cafe / coffee private concierge service Open meeting NOVA workplace MAR 1 /

5 FRONT Café 2 Solution: CAFE A transformative experience that redefines the new workplace a cafe designed for the needs of the worker. Front Café at Nova Centers is a curated experience specifically designed for the worker. Single source organic coffee, fresh finger foods, small-plates and prepared food to go. In-house and high-end. Partnering with Front Café of San Francisco, Nova Centers will offer its users and members a café experience that will set it apart from any of the competitive set. The food has a local flavor, uses only the highest quality organic ingredients and exudes freshness and flexibility. The flavors change as the clientele changes. Sample Menu Breakfast Fresh pasteries from local bakery, organic steel cut oats, yogurt, granola, waffles, juice bar Small Plates A selection of freshly made, healthy, international cuisine, scalable to satisfy differing hunger levels, including items such as: tacos, mini quiche, bocadillos, dumplings, spring rolls, pot pies, soups, salads, pizza, daily specials Snacks Kale chips, fruit cups, popcorn, handmade sweets Happy Hour Charcuterie, cheese plate, spiced nuts, hummus & flatbread Coffee & Tea / Wine & Beer From a selection of national and local micro breweries and wineries NOVA workplace MAR 1 /

6 Concierge 2 Solution: SERVICE Concierge-level service is the third pillar that defines Nova Centers. Trained personnel will be available throughout each Nova Center, enhancing the user experience by providing technical assistance, help with organizing meetings, document assembly preparation or whatever else may come up. Need help locating a dry cleaner? Have special dietary needs? Restaurant recommendations? These common needs of the worker can now be handled in-house. Concierge-level service. Trained personnel will be available throughout each Nova Center, enhancing the user experience The centers will be populated with smart, resourceful young locals who know how to anticipate client needs and solve problems. This approach will be fused with the cafe to provide a unified premium service experience unlike anything that currently exists. NOVA workplace MAR 1 /

7 3 launch & roll-out strategy set the trajectory for a national brand The start-up business focuses on 3 Phase I launch cities The mature business expands to additional cities & neighborhood venues LAUNCH STRATEGY Phase I+II: Preliminary Network Key US Cities NEIGHBORHOOD designated desks with monitor, keyboard and mouse. lockable storage bikes kitchenette Phase I Phase II Seattle San Francisco Los Angeles New York Washington D.C. Chicago Atlanta Houston Boston Dallas Phase III: Expanded Network NOVA MOBILE WORKPLACE URBAN Typically sf and located in a downtown hub of activity. open touch-down work tables designated desks lounge with hospitality capabilities full-service concierge white board and pin up space phone rooms device app focus rooms large high-tech conference room high-tech work tools coffee shop / cafe showers and storage lockers weekly social / networking events user friendly online account management Additional Key US Cities and International Airports. Seattle Phase III Denver San Francisco Phoenix Los Angeles San Diego Las Vegas New York Philadelphia Washington D.C. Raleigh-Durham Chicago San Jose Atlanta San Antonio Houston Sacramento Boston Dallas Create a broad network of locations with a consistent range of services and offerings for the diverse membership needs. Phase IV: Neighborhood Expansion 3-5 supplemental locations in trend-forward neighborhoods around the urban centers. NOVA workplace MAR 1 /

8 4 Financial Outline pro forma single center operating forecast Revenue Memberships: Number per Unit/Hour Annual 15 $7,000 Monthly 10 $600 Non- membership Users: Daily Fee 6 $45 Hourly Fee 22 $10 Revenue Membership $ 1,113,320 Services 756,360 Total Revenue $ 1,869,680 capital requirements PHASE 1 roll-out (Seattle, San Francisco, Los Angeles) Sources Common Stock $ - Series A Preferred Stock Offering 3,250,000 Line of Credit/Bank Borrowings - Paid- In Capital - Total Sources $ 3,250,000 Uses Club development and other capital expenditures $ 3,001,202 Corporate branding & other start- up costs $ 204,000 Working capital, net $ 44,798 EBITDA (less corporate start- up costs) Ending cash Other (including offering costs) Total Uses $ 3,250,000 Center operations expense 867,644 Corporate operations expense 201,617 Use of Funds (in millions) EBITDA $ 800,419 margin 42.8% $0.20 $0.04 $3.00 Club development and other capital expenditures Corporate branding & other start- up costs Working capital, net NOVA workplace MAR 1 /

9 Supplement A Supplement B FRONT café flow seattle site option MEMBER DAY USER CAFE PUBLIC NOVA workplace MAR 1 /