There’s round 250,000 hair and wonder professionals working throughout the U.Ok., and Glambook needs to be the sharing economic system platform that takes care of them.
The corporate just lately raised $2.5 million at a $12 million valuation, and I managed to speak it into letting me share its pitch deck with you to see how the corporate wove its story to its buyers.
We’re searching for extra distinctive pitch decks to tear down, so if you wish to submit your individual, right here’s how you are able to do that.
Slides on this deck
Glambook raised its funding with a 19-slide deck, and so they agreed to share it with us in full:
- Cowl slide
- Drawback slide
- “Unsolved for a purpose” — alternative slide
- Resolution slide
- Worth Proposition slide
- “Folks love our product” — product validation slide
- Market slide
- Addressable market slide
- Traction slide
- “Why Now” — timing slide
- Positioning slide
- Enterprise Mannequin slide
- Go-to-market slide
- Street map slide
- Social Affect slide
- Workforce slide
- “Right here is our story” — the “why us” slide
- Abstract slide
- Contact slide
Three issues to like
For an early-stage firm, Glambook has so much going for it — it’s seeing significant traction and operates in an fascinating market. The largest problem the corporate has to beat is convincing buyers that it is a market that’s, certainly, clamoring for a know-how makeover. And it does a reasonably rattling good job.
Listed below are three issues that work significantly properly:
Is your group terrible? Is your product rubbish? Is your market area of interest? I’m not saying that any of these issues apply to Glambook, however basically, none of it issues you probably have traction.
You possibly can counter virtually each query with: “Maybe it’s silly, however take a look at the numbers. It’s working!” Actually, the query turns into why it really works, and in case you can maintain it working, even at scale.
For a comparatively small, $2.5 million spherical, having 20,000 clients throughout 38 international locations is spectacular. (Though I additionally observe that crucial traction metrics — How sticky is it? What number of orders are facilitated? How a lot income is being generated? — are lacking.)
The story Glambook is promoting right here is that “Issues are altering, and we’re proper there because it does,” which is the proper place to be as an early-stage startup.
Extra importantly, saying there are subscription gross sales occurring with out together with month-to-month or annual recurring income figures isn’t nice storytelling. I’m impressed by the variety of international locations and the variety of professionals on this slide, however I additionally need to know the variety of purchasers and the worth of the subscriptions. Not together with these figures makes me instantly suspicious.
These are asides, although. The corporate is displaying actual, measurable, vital figures. The takeaway right here is that if your organization has these, present them off with satisfaction. Why? VCs put money into inherently high-risk companies. Any traction — and any progress — goes a good distance towards displaying that the enterprise is not less than partially de-risked.
As I discussed, in case you’ve acquired traction, you’re doing one thing proper, and that one thing can in all probability be developed into a very good firm a method or one other.
A rising tide
Glambook makes use of this slide to inform the story of a market in evolution. In 2019, 54% of hairdressing and barbering professionals had been self-employed, and by 2020, that had grown to 60%.
I’d have cherished to have a graph pulling this knowledge again additional into the previous for an extended timespan so I may see extra of a development, however there’s one thing highly effective occurring on this market, for sure. The story Glambook is promoting right here is that “Issues are altering, and we’re proper there as they do,” which is the proper place to be for an early-stage startup.
For those who can weave macroeconomics and massive societal modifications into your pitch and exhibit how you might be benefiting from them, you probably have a winner.
This slide is titled “Why now,” however I feel it walks hand in hand with one other slide, titled “Unsolved for a purpose.” I’ll discuss extra about that later, however suffice it to say that with this deck, the corporate indicators a few of its greatest challenges with out providing a 100% passable reply.
“This market is larger than you’d suppose”
Quite a lot of the time as a VC, you’ll be pitched firms in industries and markets you aren’t that acquainted with. I needed to sit with that for a second on this case.
Beauticians, hairdressers and barbers — is that actually a sufficiently big market to construct a enterprise empire round? The U.Ok. has a inhabitants of 67 million or so, so if these numbers are okay, there’s round 1,400 individuals per hair and wonder enterprise. That must imply that round 4% of the U.Ok. inhabitants works as beauticians, hairdressers and barbers.
Simply as a intestine verify, that sounds somewhat bit excessive to me, however a fast Google search leads to the article the corporate cites on this slide, which appears to substantiate these numbers. That’s thrilling, not least as a result of a number of searches additionally don’t determine a transparent market chief on this house. May Glambook grow to be that market chief?
The pitch right here is barely unfocused: Glambook is a Berlin-based firm that makes use of a number of U.Ok.-based stats whereas additionally saying it has clients in 38 international locations (I’ll get to that in only a second as properly.). The vital a part of this specific slide is illustrating that there’s an enormous market that’s ripe for disruption.
As an investor, that’s the form of factor that makes me lean ahead and pay further consideration.
In the remainder of this teardown, we’ll check out three issues Glambook may have improved or accomplished in a different way, together with its full pitch deck!