Two Investing Non-Executive Directors are required for our client who have created a B2C data capture platform designed for and targeting the world of golf, the company is based in London.
Our client is a new but progressive company who are developing a free-to-use app and website; a dedicated, seamless ecosystem with a single payment solution, where the golf community can quickly and easily access everything, they need to play.
The golf industry is currently in a growth phase, with almost 67m registered golfers playing globally – this represents only 15% of the est. total involvement leading us to believe that including the unregistered golfing sector, globally the total participation is nearer 500 million. Average spend per head per annum is $800-$3,500; the market is not only large, but also affluent, total value being in the region of $84bn in direct sales only.
We are seeking two Non-Executive Directors, with skills listed below who will be encouraged to become shareholders in the company to align the incoming Non-Executive’s interest with that of the existing Directors who are all shareholders. The minimum investment the client is looking for is £25k.
Business Plan:
Our client is pursuing an overall investment target for Year 1 of £400k for 40% equity for the following use:
- Building of the platform – budget is £62k
- Implementation of Sales and Marketing plan - £174k
- Balance used for day to day running costs, plus strong level of contingency planning
Roles:
- The company’s Board is seeking to add two Non-Execs with sales and finance expertise to provide the expertise to enable the company to expand the existing team's skills and add value to help to achieve the company's global objectives.
- The Non execs will be encouraged to invest in the company, so their goals are aligned with those of the Founder and the Executive.
- The contribution of each Non-Executive Director, which is expected to be two days per month after the initial work to get the company up and running, will be directed towards achieving specific goals or targets, and reward mechanisms exist for achievement (defined below). There is an expectation that incoming NEDs will leverage their networks to assist the company in achieving its goals. The specifics around the role are developed and agreed to complement the existing skills and expertise on the Board with the incoming Non-Execs.
Non-Exec Director Role/Requirements/Expertise:
We are seeking two Non-Executive Directors, with skills listed below:
- Finance – Knowledge of raising funds with open door contacts on a national and international level to ensure the company objectives of becoming a global entity within 3 years is met.
- Sales – Knowledge of the 3rd Party direct partner relationship creation via an ecosystem environment. The ideal candidate would have strong relationships on a cross sector basis as the company looks to turn its specific user focus into a general shopper.
- The Non-Executive Director is encouraged to become a shareholder with a minimum £25k investment in the company to align their interest with that of the existing Directors who are all shareholders. The company is registered for theSEIS/ EIS scheme which provides 30% tax relief and up to 100% capital gains relief subject to status.
Applying for the role:
Candidates who feel they meet the above criteria are invited to apply having first registered their CV with First Flight Non-Executive Directors (if they have not already done so – there is no charge) by using our “Apply for Role” tab for role no: 1181 and completing the application form explaining how they match the key criteria we have set out for the role.
Closing date for applications: Wednesday, 28th September 2022
