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RefStuff

Platform:
Crowdcube
Stage:
Seed
Industry:
Sport & Leisure
Location:
UK - North West
Date Rated:
28/07/17
Raise:
£100,000
Equity:
20%
Valuation (Pre Money):
£400,000
Industry: Sport & Leisure
Location: UK - North West
Platform: Crowdcube
£100,000 Seed
Valuation: £500,000
Date Rated: 28/07/17

MANAGEMENT

PRODUCT

INVESTMENT
Tax Status: SEIS & EIS

Business Summary

RefStuff is a company developing a range of sporting products designed to assist with the refereeing, scoring and management of matches. RefStuff has two products ready to be launched and is in distribution discussions with sports wholesalers internationally. This round of investment will be mainly used to fund further product development and to move forward the patents covering the RefScorer Digital.

Financial Overview

 

 

 

There is insufficient information available to provide a financial overview

 

 

54%
SKILLS:
EXPERIENCE:
COMMITMENT:
The Founder has significant business development expertise and he will be supported by a Sales Director but further key roles, especially in marketing, may be beneficial.
The Founder exited a £2m turnover company where he gained significant industry knowledge and startup experience but RefStuff seems a big challenge without the help of any advisors.
The Founder has invested £21k as startup loan into the business but the company is reimbursing the founder £500 a month for repayments of this loan.
48%
MARKET:
PRODUCT:
COMPETITION:
The company has estimated an addressable market of 50m referees, coaches, and teachers and the team intends to expand internationally from the outset.
Most of the products are still in development but there are already orders from two major UK distributors for an undisclosed amount and the digital watch could provide a material upside.
The current products are readily replicable so any sustainable competitive advantage depends largely on the planned digital watch, and their ability to protect it from copycats.
There is insufficient information available to fairly rate this aspect of the business


Conclusion

Given that this investment round will fund mainly product development, it is likely that the marketing budget will be minimal and this or any development delay could easily lead to a shortfall in sales.

The Founder seems to be full-time and committed but investors should also be aware that he retired his directorship in December 2016.

Note: We have not received a business plan from RefStuff and therefore this rating is based on the information available within the Crowdcube pitch.

Related Links

Crowdcube Pitch

refscorer.com

 

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