SpaceiShare - The New Storage Solution

See you. So you're a transactional marketplace that allows people to store things in other people's vacant areas. So it's somewhat of an Airbnb for storage. So without further ado, just say hello to everybody and let's switch you into presentation mode and get started.

Sounds good. Thanks everybody. I just wanted to thank First Golf Founder Institute for giving me the ability to pitch here today. I will switch on over to my presentation.

And now while that's happening, everyone in the audience, remember, okay, you can ask questions in the chat and I will try and get them on screen when she is done presenting.

Great, so you guys can see my screen okay? You can see the deck?

That I warned you about. All right, presentation's up. Sarah, can you, uh, when you're ready, uh, please get started.

Sounds good. Okay, um, so as Adele mentioned, my name is Sarah. I'm the CEO of SpaceiShare. SpaceiShare is a peer-to-peer marketplace for self-storage, including boats, cars, and RVs. So did you know that the average household has 300,000 items in it? Where the heck do we put it all? Well, millions of people put their things into self-storage. But self-storage, it's expensive, it's often too far away, and for storage builders, city bylaws are making it more and more difficult to build in urban centers. But with SpaceiShare, people can now rent space from neighbors. Think garages, driveways, and sheds. Costs can be up to 50% less than traditional self-storage, or a closer location to store your vehicle. We are creating an unlimited supply of already existing space. So if we assumed that only 2% of homeowners share space, that equates to a $1.5 billion total addressable market. And one core target are the millennials. They are sharing economy enthusiasts, and 53% of them own homes. And if we look at this from the $35 billion self-storage industry, 75% of self-storage renters put price as their number one consideration. We're going after the 10% of incoming renters who search online for self-storage options. SpaceiShare takes a 15% service fee off every transaction and will be covering most of the legal liability and the insurance. We soft launched last fall and already have 1,000 listings and paying customers. And we're currently in talks with the number one self-storage company in Canada and the world's largest insurance adjuster. Our go-to-market strategy on the P2P side continues with focusing on finding hosts through classified sites. Plus, we've reached out to Airbnb and VRBO hosts, of which 20% have space to spare. And in addition, our goal is to unlock unused commercial spaces. We'll start with local Toronto-based spaces and scale across Canada and into the US as our site becomes more robust. Fast. So as we know, traditional self-storage facilities, they're expensive and too far away. And storage is a hot topic right now with startups like MakeSpace and Clutter raising big rounds. But as a renter, if you needed to access your things on a regular basis, think about like things like golf clubs, costs can become too high. With SpaceiShare, you have access to your belongings based on the space you book with the host. And people are already sharing space. If you look at Craigslist alone, there are 10,000 listings for parking and storage in 5 major cities. Yet there are no reviews, there's no insurance, and there's no easy way to pay. Our long-term vision is to be a space hub. We started with a focus on vehicle storage, but our plan is to grow the storage category and expand into subletting, events, and more. And our team is a team to do it. We have a proven track record of success together. 3 of us were sales leaders at a startup digital media company that drove more revenues than Yahoo and AOL. I also managed our 2 developers at a startup where I was previously the GM. We're currently seeking $300,000 to give us 8 months of runway, and in that time our focus will be to increase our monthly matches to 400 build out our new mobile app, and get to $7,500 monthly recurring revenue. Let's share space around the world so we can see less of this, an environmental eyesore, and more of this. If you see space like we do, I'm happy to talk to you guys after. Thanks very much. Oh, for some reason I can't hear you guys. Can you guys hear me?

I can hear you. Sorry about that, my microphone was muted. Okay, that might be having— well done, I applauded that. Thank you. If you're having technical issues with the system, just restart your browser, come back in. Lots of good feedback in the chat. One thing, we're also going to be creating a poll where you can rate the presentation 1 to 5, no 3s. So keep an eye out on that. I thought it was excellent. Mel had a question. What about insurance? Can you go into that a little bit more? And what about the possibility of theft and damage relating to insurance?

Totally. And that's actually one of our number one questions that we receive. So on the insurance side, currently we have our own insurance in place, but we are speaking with a number of different insurance companies that will, that will insure both the belongings and the host property. So once we have that existing in place, then every person that shares space will have up to $1 million that they can claim should there be any issues. We have legal documents that people sign so that they are sharing that information. And then when it comes to what is in the box, What we ask hosts to do is to check inside the contents of the property that the person who's renting from them, but we also have that legal document that states you can't have any of these items, which, you know, are the usual drugs and plants and live things and dead things. But we also, like I said, have the host make sure that there's nothing in there that would be a problem. For the most part, it's people's decorations, baby gear, and you know, winter tires and things like that.

So I'm going to merge a question from Ken and David. Ken asked, do I sign a lease so I have certainty of duration? And David was asking about what about 24-hour access? So, you know, I don't know why you would need 24, but like, I need my stuffed teddy bear that I'm into.

So yeah, exactly. So just give you an example. The host defines the terms, so they dictate the price, the access. And so with access, if it's a garage that you never use, and in my case, I'm renting out a space to somebody right now in my garage, and I gave her keys to my garage, I told her she has access whenever she wants to give me a heads up via text whenever she's, she's going in there. For other people, they may not want to have that person in their home for more than like once every 6 months. And depending on who's renting from you, that might be perfectly fine. So it's finding that person in the right area and then making sure that their access is in conjunction with what you want. And then if you have more access, you can charge more money too. And then you'd asked about timelines. So typically on the platform, one would go on and say, I want to book 6 months. There's no first and last in the old traditional way of doing it, but there's money that's coming out on a regular basis. And in our terms and conditions, we dictate that you must let the person know, either the host or the renter, within 60 days if you need them to vacate or if you need to leave.

Okay, there's a lot of great questions here. I'm going to continue with another sort of space one, then jump into some of the financial. Can you rent that garage to multiple people? Because you said you gave this tenant a key. Yeah, but like if there's someone else is storing maybe gold bullion next to someone else's teddy bear.

Yeah. Yeah. So absolutely. I think it's up to the host. It's up to the renters. So in my case, and I'll just speak first person, I know that if I was to tell my renter that someone else is also going to be sharing space, I'm pretty sure that's fine with her. I don't think there's anything in there that's worth all that much money. And so I would make sure that everyone knows who the other person is. And so there's that transparency. I would say moving forward, it really is up to the space owner. Like some people in commercial spaces are going to have, you know, 8,000 square feet of space, they will want to divide that up. So they'll want to make sure that each and every person has their own privacy or a key or there's some agreements made.

We're going to do one last question from Mike. And then if you don't mind going into the chat, there's a lot of great questions that's still need to be answered. Mike was, what's the rationale behind a $7,500 monthly run rate as a target?

Yeah.

Seems low given the size of the market.

Yeah. So I'll say that we do take 15% right now, and certainly it does seem quite low, but it is a bit of a snowball effect. So the more people that get on board and rent space, the higher the amount will get. But if you look at an average transaction of being about $100 for 100 square feet of space, which is what self-storage facilities usually have as their average, then we're looking at $15. So really $7,500 is indicative of a lot of $15 putting together and having those 400 transactions a month. Of course, we're expecting to have 100,000 MRR as time goes on, but it does take a lot of money to make this project work because it's building a brand and it's creating more information for people so they have access to who we are and what we do.

Alright, so thank you very much. Well done.

Thank you.