The barbershop has built ladders of opportunity in black communities for generations. Skilled barbers build a steady stre...
theCut’s deadline was March 24, 2018
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Time spent waiting in your local shop can completely ruin your mood or interfere with your plans. In addition, finding a barber who you trust and feel comfortable with can be a daunting task. Millions of people moving to new cities or going off to college are faced with this problem every year.
Every month, barbers can lose 8-10 hours of productivity scheduling appointments via calls and texts. Over-bookings and no-shows also negatively impact a barber's business. Traditional marketing and relationship management has been a manual process for barbers. Software to improve their efficiency has not been widely adopted.
theCut is modernizing the barbershop experience. By seamlessly bringing both barbers and clients together, we’ve reduced many of the issues present in the barbershop today.
Barbers create their profile by adding their services, location, and hours of operation. Then, they complete it by uploading pictures of haircuts they’ve done and set up their banking info.
Clients are able to search and discover talented and trusted barbers. They can then book, pay, and tip through the app at their convenience.
Barbers receive appointments requests and then can manage all their appointments in one place.
After completing an appointment, clients can review the barber and shoutout a job well done.
Barber adding services to his profile:
Barber uploading his past haircuts to profile:
Client discovering and booking an appointment:
Armed with our savings accounts and Instagram page, we were able to hack together some exciting growth and eventually get a little funding along the way. We’ve worked very closely with our early users and have built a product directly reflecting their input and feedback. The insights we’ve learned will be incredibly useful as we grow and expand over the next couple of years.
The release of our android app made a HUGE difference.
In the year 2040, the U.S. Census forecasts that people of color will become the majority in the United States. The growth of potential customers is accelerating and showing no signs of slowing down. As the population grows, there is going to be an equal need of quality barbers to keep everyone well groomed.
There are over 21 million minorities, including blacks & hispanics, who visit barbershops at least once a month spending $25 on average including tip.
Men have also increasingly spent more on grooming products in recent years, topping $20 billion in 2016
Traditionally, barbershops have been community commerce centers, where you could get the latest cd's, movies, and fashion pieces. As our marketplace evolves, we’ll be able to tap into long time barbershop related industries such as sneakers, fashion, and entertainment.
Many of our competitors have built quality booking software to power both independent professionals and local businesses. However, at theCut, we’re building a technology company to completely modernize the barbershop experience. We have larger ambitions that extend beyond appointments; we are looking to improve all facets of men’s style and grooming.
Barbershops are one of the last traditionally cash industries. Cashless consumer trends and the inherent risks of carrying large sums of cash create an opportunity to offer a different business model.
Wholesale pricing and increased access for our users will revolutionize how products are sold in the men’s grooming industry by providing direct access to thousands of engaged customers. Recent trends in men’s grooming point to a more conscious and attentive consumer base.
Barbershops have been synonymous with fashion and entertainment. As our business evolves, we’ll be able to offer our customers complimentary content, services, and products.
Our customers love us! We're converting barbers of all ages and backgrounds.
Investing in theCut is investing in yourself. We want to democratize wealth and ownership by giving the opportunity to the very people who have made the community so valuable.
With your investment, we'll be able to develop a more robust product and build our brand through marketing and partnerships.
The funds raise will help us reach our goals through the end of the year!
Investing in this crowdfunding opportunity through Republic allows you to be an angel investor in theCut under the provisions of Title III of the Jumpstart Our Business Startups Act of 2012 (known as the “JOBS Act”) and Regulation Crowdfunding. The financial instrument for your investment is a Crowd Safe. With a Crowd Safe, your investment automatically converts into stock when theCut undergoes a liquidity event - in other words, when we are acquired or have an IPO.
The valuation cap specifies the maximum valuation under which your investment will convert into shares. theCut's valuation cap for this round is $4 million. If the company is acquired for less than the valuation cap amount, the discount provision gives you a discount to the valuation. The discount provision for this round is 20%.
(Kush on the Left, Obi on the Right, Pepper the robot in the middle)
Obi, a recent JMU grad, was forced to spend his first 2 months at a new job, in a new state, post his haircut expiration for fear of trusting a new and untested barber. Kush Patel, interning in California had no choice but to cut his head bald after a random walk-in experience with the wrong pair of clippers. He then goes on strike and grows his hair out past shoulder length in protest. Friends from high school, with shared experiences we realized there was a huge problem here. It wasn’t that there were no talented barbers near us, what lacked was the convenient ability to find the barber who best met our specific needs. This moment and countless hours spent waiting aimlessly in barbershops is what led to the ah-ha moment behind theCut. We built our first prototype, then launched the beta version the following year and we’ve been grinding away ever since.
My team and I all have similar experiences. Similar stories can be told by anyone who’s ever moved to a new city, went off to college, or is left barber-less due to vacations or unexpected emergency. Barbers have tales of their own, reflecting no-shows, late clients, and schedule mismanagement that have led to less than enjoyable experiences. We’re passionate and dedicated to solving a real problem. We’re giving clients back their time and empowering barbers to take control of their business.
Everyone loves the feeling that comes along with a fresh cut; the confidence, the swag, the fresh look on life symbolized by a clean shapeup. At theCut, we believe that if you look good, you’ll feel better. We want the entire community to rock their best cut and live their best life. We hope that you guys share our vision and help us cut the next generation.
The maximum valuation at which your investment converts
into equity shares or cash.
If a trigger event for theCut occurs, the discount provision
gives investors equity shares (or equal value in cash) at a reduced price.
theCut must achieve its minimum goal of $50K before the deadline. The maximum amount the offering can raise is $350K.
A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event.
A SAFE allows an investor to make a cash investment in a company, with rights to receive certain company stock at a later date, in connection with a specific event. · Learn more
It just makes sense! The app interface is sound and the use-case is very real. I believe a lot of guys will appreciate knowing what they're about to get into with a new barber by being able to see past hair cuts and being able to avoid wait times!
I believe in the brand, the business model, and most importantly the team!
I invested because I understand the value that theCut can bring to customers and barbers.
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