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09-30-2013, 04:18 PM
Space Qube

https://seedrs-production.s3.amazonaws.com/uploads/startup/summary/logo/1750/f6ulpjgguhorg4qnafhl7xajal6bbvl/thumb_SpaceQube_logo.jpg

INVESTMENT SOUGHT:110,000
https://www.seedrs.com/startups/space-qube


PRODUCT(S) AND/OR SERVICE(S)
Space Qube would provide a permanent space for pop-up activity in a premium shopping location using a quick change over shop fitting system to alleviate down time during tenant changeover.

The reusable shop fitting elements may be easily stored away and re-used in the same location or, when the concept is rolled out, in another Space Qube store. The space would be a blank stage for our tenants to perform and bring a sense of theatre to the retail environment.


INTENDED IMPACT
Space Qube would enable retailers, etailers, brands and other organisations to strategically book short term retail space according to their needs and objectives. We aim to reduce retail downtime with a quick fit interior solutions which allows us to switch from one tenant to another overnight. Space Qube would provide the complete turnkey service from design to fit out OR elements of it dependent on tenant's needs. Our service removes the need for landlords to constantly find tenants as Space Qube will hold the lease and sub-let the space under license.

Space Qube fulfils the need and growing trend for short lets and gives access to a prime site location not otherwise available and actively encourages exciting content to bring a sense of theatre to the shopping environment. Elements of the shop fit could be stored for re-use if a brand wishes to book seasonally or in another Space Qube store. Once the pilot is proven, Space Qube plans to roll out the concept to other shopping centres allowing brands to plan a nationwide tour using the same shop fit elements. Creative Agencies could book the space for their clients in advance when building a promotional or marketing campaign.


SUBSTANTIAL ACCOMPLISHMENTS TO DATE
1) Space Qube has designed, trialed and costed the shop fit system.

2) Space Qube (nee Space Shopper) commissioned Conlumino Retail Research Agency to provide sense testing data to determine whether the business model was viable. This data helped us refine our costs and also lead us to focus on specific retail sectors as well as individual brands and marketing agencies.

3) Space Qube secured a week long pop-up space in July for the award winning Hampshire Fare (part of the broader Hampshire Food Festival) during the opening phase of British Lands Whiteley Shopping Centre. This trial provided us with a deeper understanding of the market and gave us the opportunity to capture data from a retailers perspectives.

4) Having successfully used freelance professionals in other projects, Space Qube has resourced a freelance Website Developer as well as Marketing, Social media, Policy & Research specialists. All are valuable contributors and form the basis of the Space Qube team.

MONETISATION STRATEGY
The basic costs to the incoming tenant will include rent, rates, service charge, utilities, shop fit (spread over 3 years) and design. These costs are marked up and sold on at a fixed price per week. There will be seasonal variations, and costs for longer tenanted periods will attract discounts. Periods of one day to eight weeks will be offered.

Further revenue will be generated for more elaborate installations or where we are coordinating a road show event. As the business expands its network of additional stores, we hope to improve profits by harnessing economies of scale.

A bank of reliable local staff in each location would be available to tenants and this should provide additional revenue. The website will be the hub of the business providing information about future tenants and events. An opportunity to provide links to client websites particularly as the business develops, will attract additional revenue from affiliate marketing.

Our pilot scheme cash flow allows for some unoccupied weeks during the first two years. We plan to offer these weeks to Not for Profit organisations to ensure the store is always occupied.

USE OF PROCEEDS
The funds raised will enable us to purchase and create the pilot store and this includes:

1) Advance Rental and Deposit for the store in a prime location based on 400 - 700 sq ft space.

2) Complete fit out of the shop including the shop fitting system, wall and floor finishes, electrical and lighting, signage etc.

3) Marketing in particular website development including back end data base, PR and social media activity and advertising.