Jump In Meets The Crowd
In ‘X Meets The Crowd’ I talk with entrepreneurs in the middle of their equity crowdfunding campaign. What’s the story behind their project? What are they looking for in an investor? Why do they think they stand out and what do they offer investors? Find out everything you want to know here, on our HelpTheCrowd Blog.
In a world in which parents as well as kids are glued to their tablets, phones and tv’s, we’re slowly but surely turning into couch potatoes. It is time we get some exercise and, more importantly, share a fun and happy moment with our loved ones. Jump In provides exactly that: a trampoline park for jumping, games and exercise. CEO Gavin Lucas on somersaults, innovation and happiness.
HelpTheCrowd. So, do you start your day with a team trampoline workout?
Gavin Lucas. Sadly not but we do jump whenever we get a window. One of our instructors recently taught us how to do a forward somersault, which we managed (badly). The 3 Directors are in competition to see who can do a backwards somersault by the end of the year.
HTC. What is the main feeling you want people to go home with after a session at Jump In?
GL. Happiness. We survey customers every 3 months and in the last survey, 40% of the response cite ‘seeing their kids happy and smiling’ as their most memorable moment.
HTC. Tell me why you are different from the competition.
GL. We have been the first in the UK with a number of innovations which are now commonplace -the battle beam, a dedicated toddler zone, a twist ladder etc. and we have a (secret!) pipeline of over 100 more innovations that we will gradually release to stay ahead of the competition.
We are constantly adapting our model and no arena is ever ‘finished’ – continuous improvement is our mantra and you will see this if you visit our parks regularly. We invest in what is important and core to the customer experience and don’t waste investors’ money on marginal frills – consequently our return on capital is extraordinary. Also, with only one hospital treatment per 9961 visitors (YTD end April), we understand from industry insurers that we’re leading the UK for safety record.
HTC. Where do you see the biggest challenge for Jump In?
GL. Other than doing that backflip by the end of the year? Probably IT. The software and systems world hasn’t caught up with the explosion of this industry yet. Not many are focussing on this whilst the priority is opening new sites, but we are doing a lot of work with our various business partners to help improve systems to make the customer experience slicker in this area.
HTC. What made you decide to go for crowdfunding rather than financing through a bank?
GL. Firstly, it elevates the brand in a fragmented industry, positioning us at the front of a sector which will start to consolidate. Secondly, it turns customers into ambassadors and advocates. Thirdly, it provides valuable growth capital at a fair price, and invites and facilitates conversations with later stage funders. For more, have a look at our latest LinkedIn article.
HTC. Why did you choose Seedrs for your crowdfunding campaign?
GL. One of our seed investors had been through the process with another company and we reached the same conclusions when we did our own due diligence. Seedrs have a single nominee structure which is more institutional and manageable in terms of reporting. Their due diligence process is very thorough which helps protect investors which we approve of. Lastly, they clearly have a strong track record as one of the two largest UK platforms by funds raised.
HTC. What role do you see for your investors?
GL. Our investors act as our advisors. We value the pool of knowledge and experience they possess from businesses operating in a range of sectors with revenue in the billions. Our exec team is confident, experienced and successful, but also not too proud or arrogant to ignore advice and insight from others.
HTC. Any tips for entrepreneurs thinking about crowdfunding?
GL. Do it because you want to rather than have to, ensuring you’ve created alternative options, and by the time you launch you will have developed a truly compelling proposition.
Originally posted on HelpTheCrowd.com: