The ShortCutQ is a simple, patented shortcut gate for queue management systems that eliminates the need to zigzag through empty lanes when there is no-one queuing. ShortCutQ is in discussions with Tensator, the largest queue management company, to begin a trial in UK airports and to offer the product as part of their portfolio in the $150m annual global ‘crowd barrier’ business.
The ShortCutQ is a simple shortcut gate (patented) for queue management systems (particularly in airports) that eliminates the need to zigzag frustratingly through empty lanes when there is no one waiting in line. The company was founded in 2014 in order to further develop and market this simple gate. Beyond alleviating tedious, unnecessary walking, the gate is also designed to save companies money given the queue management systems would require less staff oversight, and could potentially become a source of revenue for these companies through advertising.
ShortCutQ has begun discussions with Tensator, the largest queue management company in the world, regarding the sale of the product on its behalf. Tensator view the ShortCutQ as a potential revenue generating device for their global clients and are looking at potentially offering the product as part of their portfolio. Tensator are interested in starting user trials in a UK Airport with the ShortCutQ system.
- Simple, Cost Effective Solution compared to extra staff
- Patent Protected
- Revenue Potential from Sales and Advertising
- Sales (Crowd Control Barriers are a $150 million/annum global business)
- Advertising (Out of home Advertising forecast to reach US$44bn by 2018)
- Developing product with Tensator, the global leader in Queue Management
- Ensure optimal design characteristics for the market
- Potential for a pilot trial in a UK airport
- If successful, potential direct sales channels open
- Advertising and Airport contacts have the potential to facilitate entry to market
- Doubles up as an Emergency Escape Route
We have invested about £20,000 in the design and development of the product and also to register the patent. The money we raise will pay for the tooling to manufacture the gate, sales and marketing expenses and other legal costs.
The ShortCutQ gate can be sold in any venue there is a queuing management system in place. According to Tensator, the annual market for these systems is in excess of $150 million (excluding advertising). This could be airports, sport venues, theme parks, theatres, cinemas, retail outlets, train stations, any ticket office or tourist attractions. Our initial focus will be on airports, of which we believe an estimated 1,850 globally (Airports Council International) are large enough to warrant queue control barriers. We are concentrating on airports because we believe there is a demand for such a product at check-in desks, security and passport control, and because of the advertising potential.
We believe advertisers are constantly looking for new and exciting ways in which to engage the customer. Visibility is key, and with so many advertisers vying for attention, novel approaches to reach the customer are constantly being evolved. If a customer has to actively engage with the advertising and does so with a positive experience, then we believe the advertising effect is magnified and the advertising medium is more valuable. Our opinion is that with the “feel good factor” of the ShortCutQ gate, advertising associated with the product will garner a premium. Out of home advertising in the UK alone was over £1bn in 2014.
Routes to Market
Initially, we intend to sell through Tensator but our research highlights that the product is easily used on other manufacturers equipment with a minor modification. In addition, we have approached other airport advertising firms (like JCDecaux) about cooperating with them but we are at an early stage and would like to complete the user trials first.
To the best of our knowledge, ShortCutQ has no direct competitors.
Jonathan Green – Founder and CEO
Aeronautical Engineer with a 2:1 Masters Degree from Durham University and management experience in a number of different companies ranging from an internet start-up to larger companies. Jonathan also started a web based company, TenerCoche, in the Canary Islands. He was asked to help rescue a telecoms company, Direct Telecom SL, after a management walk-out, and turned it round within a year increasing profit by 20%. Jonathan previously worked at the European Patent Office in Munich. He is currently also Director of a private independent school with 40 staff and 380 pupils.
Ciarán Flynn – CFO
Ciarán has spent the last 20 years in investment banking advising small and medium sized companies and helping them raise money. He has worked as a Director for Credit Suisse, Credit Agricole, Jefferies and Societe Generale in London and New York. He has an MBA from New York University and a BA in Economics from University College Dublin.
The Exit Strategy
Management aims to exit the business through a trade-sale in 3-4 years time at a valuation of close to £4 million, giving investors an IRR of greater than 50%. We believe likely buyers would include the existing queue management companies such as Tensator.
Invest £5,000 and get
Dinner with the ShortCutQ team in London