2. 1
We believe that all workspaces can and should be
attractive, sustainable and lower cost.
We make this easy for
customers with:
–Free office design
–High quality remanufactured
furniture
–Full office refit
3. 2
We offer quality + value in the £665M p.a. UK office furniture market
Price
Quality & Longevity
Low High
Brand-name new (£250-1,000/chair)
£100
£200
£300
£400
£500
£600+
Reupholstered (£100-150/chair)
Second hand (£50-150/chair)
Made in China
(£100-250/chair)
Adjustable Desk Chairs
Cannot compete
with us because
independent
distributors will
not distribute
remanufactured
furniture
Cannot compete
with us because
they buy poor
quality items
from China or are
poor at marketing
4. 3
Our circular business model owns the customer relationship and
sources furniture differently
Manufacture Distribution
Interior
Design
Office
Clearance
Waste
Management
Current
providers:
• Manufacturer • Dealers (mostly
independent from
manufacturer)
• Interior designers • Office clearance
companies
• Waste companies
• 2nd hand dealers
Rype
Office:
Office Furniture Value Chain
We start here –
designing an
attractive,
productive
office to suit the
customer’s
needs
We source from
the customer’s
existing furniture
And from the
2nd hand trade
market
We source difficult-
to-find items new
(distributor for 6
OEMS)
Remanufacture to
customer’s desired
standard
Guaranteed buyback offer OR Lease
Circular
Economy
5. 4
This provides us with 3 structural cost advantages
1. Substantially lower (re)manufacturing cost
2. Vertical integration in a non-integrated industry
3. The sustainability of remanufactured furniture differentiates us, reducing
marketing costs
Structural Cost Advantages
Sources: Rype Office costs; The Next Manufacturing Revolution: Non-Labour Resource Productivity and its Potential for UK Manufacturing, 2013, pp. 83-89. available at www.nextmanufacturingrevolution.org
80% smaller
environment
footprint
than new
<1/2 list
price of
new
6. 5
Remanufactured = same as new in appearance & performance
• £748 new list price
• Top of Orangebox’s range
New Orangebox G64
(OEM promotional photo)
Remanufactured G64
(Rype Office photos)
• <£280 from Rype Office (37% of new list price)
• 5 year warranty (same as new)
• New recycled fabric & gas lift with other surfaces recoated
8. 7
Investment Plan
71% IRR for this round
With 30% EIS tax rebate = 93% IRR
and 7X return on investment
Investment Round
• £400K
• EIS pre-approved
• Class A shares for £20K
or more investment
Liquidity event
• 2021/22
• Trade sale or
recapitalisation
• Target valuation £20M
(2X revenue, 19X EBIT,
23X PAT)
Now 3-4 years
To accelerate growth:
– Ramp up marketing
– Invest to secure supply
– Cover working capital needs
9. 8
Team
Dr Greg Lavery
Founder & MD
Previous startups:
– Origin Solar, now a
$1B solar retailing
business
– Lavery/Pennell
Engineer with PhD in
green building design
Ex Bain and Booz
12 other staff, employed on an
as-needed basis
6 furniture manufacturer
partners (with whom we have
distribution agreements):
Trade partners:
– Upholsterers
– Desk/table top makers
– Polishers
– Powder coaters
Ioannis Spyridakis
Head of Operations
Previous startups:
– Drinks distribution
business
– Charter hire
business
– Solar farms
Supply chain expert
Ex shipping industry
Duane Walker
Project Manager
Mechanical Engineer
Ex Rolls Royce
Aerospace
Ex Prakti
Now recruiting
Bus. Dev. Manager
