Walkthrough Financial Model
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Unit EconomicsEmployee RelatedConservative Annual Cashflow
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Listing Unit Economics3 Mo. AvgAiming for Jan '193 Mo. AvgAiming for Jan '19Year20182019202020212022
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Average Order Value$149.00$149.00
Monthly Expenses Per Employee
$285
Gross Sales
$409,106.12$821,125.92$1,456,101.21$1,996,643.30$2,436,168.87
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Matterport Processing Fee$21.00$21.00Dropbox$20
Gross Expenses
$639,341.08$1,419,566.23$1,683,497.12$1,921,005.01$2,210,539.98
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Stripe Processing Fee (2.9%)$0.00$0.00Google Email Accounts$5Net Cash Flow from Operations-$230,234.96-$598,440.30-$227,395.91$75,638.29$225,628.89
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Photo Processing Cost$12.00$12.00Slack$7Gross Profit Margin$110,820.92$311,366.54$552,145.76$757,116.42$923,782.16
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Avg fee paid to photographers$57.00$57.00Github$9Equity Financing$1,520,000.00$0.00$0.00$0.00$0.00
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Server costs per home$2.50$2.50
Misc. Software (Adobe Suite, Invision)
$200
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Gross Margin$56.50$56.50
Hiscox Business Liability Insurance Per Month
$42
Beginning Cash Balance
$30,000.00$979,300.04$380,859.73$153,463.83$229,102.11
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Gross Margin %37.92%37.92%Lastpass$2Ending Cash Balance$979,300.04$380,859.73$153,463.83$229,102.11$454,731.01
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Lowest Balance Of The Year$50,311.00$380,859.73$136,537.82$116,277.53$195,557.74
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City Count24444
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Photographer Hiring ModelHQ ExpensesMonths of Runway ($100k+)51
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Avg. # of homes/mo a photographer2020
Initial Employee Onboarding (Laptop/Workspace/Shirts)
$2,000
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Onboarding photographer costs
(Background Check + 2x Shirts + Matterport + Ipad)
$2,500.00$2,500.00
Budget per employee per retreat (flights/hotel/food/etc)
$500
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Accounting cost per month$500Avg Monthly Revenue Growth Rate0.82%8.57%5.43%3.84%3.11%
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Hiring Expense Per Employee (Job postings/Hired)
$5,000Avg Monthly Listing Growth Rate1.44%7.23%5.43%3.84%3.11%
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Salesforce Cost
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Zendesk Cost Per Year$2,000
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City Scaling AssumptionsMonthly HQ Expenses
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Team GrowthTotal$305
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Cities per engineer7Ultradox (Floreysoft)$100.00
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Cities per operations/marketing7SendGrid$10.00
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Cities per customer support4PostScanMail$35.00
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Cities per UX/UI13Boomerang$15.00
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Pipedrive$10.00
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Per City Growth AssumptionsBuiltInColorado$65.00
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Avg Customer/Listing Growth Per Month Per City5.710.0HotJar$0.00
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Customer Acquisition Cost (FB, Ads, Brokerage Presentations)
$300Docsend$15.00
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City growth per month in 20191.0Xero$30.00
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City growth per month in 20203.0Docusign$25.00
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City growth per month in 20212.0Mixpanel
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City growth per month in 20223.0Segment.io
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Additional Expenses Per City
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Mailchimp$120
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Funding AssumptionsSeasonality
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Capital RaisedJanuary150%
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Seed (July 2018)$1,400,000February100%
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Series A (Sep 2019)March100%
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April100%
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May100%
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June110%
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July110%
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August100%
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September100%
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October80%
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November80%
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December70%
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