The easiest move you will ever make
Homeshift is a platform that allows consumers to setup home during their property transaction and then manage the services tied to their home i.e. home insurance, energy etc on a recurring basis. We’re building what is a home as a service. The technology is already used by 50+ Estate Agency’s (within a 10 square mile area of East London) and their renters, buyers and sellers. The longer term plan is to scale the technology across the entire UK Estate Agency market and other channel partners until we reach full consumer penetration, with potential for overseas markets in the future as the application is cloud based and intuitive to use.
Products & Services
Moving home is the gateway to circa 80% of home and personal financial services spend i.e. energy services, internet & telephone, mortgages, conveyancing, removals, home insurance, life insurance, health insurance, surveyors, cleaning, storage, TV services etc. Homeshift is a technology marketplace that enables property buyers, sellers and renters to buy property related home & financial services in the context of managing their property transaction(s) and organising their moves. We are building what is a ‘home as a service; where consumers are able to move, setup home and manage the services they buy from us on an ongoing recurring basis.
Moving is stressful, costly and time consuming. There is little insight around property transactions for the consumers because their are differing parties involved. Homeshift looks to alleviate these problems by providing smart digital tools.
Transactional Business Model
We make money on affiliate fees from service providers. We charge between £32-£750 to service providers for acquiring each customer, dependent on the value of the product or service being supplied.
Recurring Business Model
We have a clear route to strong recurring revenues from home and personal insurance services. On average, home and personal insurance services pay 15-20% of premium values on a recurring, year on year basis. We are already building out our product with the view of being one place to manage all home and financial services from transaction right the way through to moving out.
There is a strong history of software companies scaling quickly in the property sector with the IPO’s of Rightmove & Zoopla serving as good examples. Consequently an exit timetable of 2-4 years is anticipated. Given Homeshift’s positioning, there are a host of potential acquirers from comparison websites such as MoneySuperMarket through to marketing giant Google. There are also industry players such as Countrywide, LSL Property Services, Zoopla and Rightmove that are potential acquirers. There is a clear gap in the market for fulfilment around home services and other the next 3-5 years a number of companies will be looking to build in this space giving scope for acquisitions.