Investors in the first $75,000 be paid 5% of revenues each quarter until 100% of their principal is returned plus 150% on top.
|1||Over $500 Million Market Opportunity|
|2||Remote-Live Stream Inspections|
|3||Uses Artificial Intelligence to scan property neighborhood data for environmental hazards|
|4||Self- Analyzing SMART Inspection Report Scalable Inspection Technology|
|5||Subscription model for home inspection payments|
|6||4 ways to generate revenue: Inspections Realtor Programs Maintenance Plans Moving Services|
|7||Growth and innovation potential on parallel with platforms like Amazon and Zillow|
|8||Experienced Team with over 20 yrs Tech+Real Estate Experience|
While much of the real estate industry have adapted to changes in technology, the home inspection process has remained antiquated.
After the countless stories of home inspection nightmares that can be found on social media, we decided to revolutionize the home inspection industry by addressing the top complaints of :
1) Finding reputable, quality and transparent inspectors
2) Scheduling in-person inspections around their schedule
3)slow inspection reports
4) out-of-pocket costs of inspections
After doing more research, we decided that homebuyers also needed some assistance in choosing the appropriate environmental inspections for their home.
So we created a platform that uses Artificial Intelligence to scan the address of the property and suggest environmental inspections based on the neighborhood data.
AfterrHome also allows users to pay only 50% on the costs at booking and the rest they can pay over three months.
We learned more about how to launch a successful start-up. We also learned how to talk to users. We conducted many surveys with realtors, existing homeowners and future homeowners to assess their needs, experience with home inspections and our ability to respond to "pain points". We got lots of positive feedback!
The COVID-19 pandemic delayed our launch. We then had to figure out how to pivot...
We knew that we needed to rethink our approach and decided that whatever we did next...we had to raise money...so...
We successfully raised $7,500 through Kiva to enhance our technology and develop our new strategy. We used our network to raise our campaign funding in 18 hours! This gave us the ability to acquire important technology and to continue to develop our strategy.
After experiencing social distancing, we realized that this was our new norm and we have to find a way to conduct inspections but adhere to social distancing.
We did some research and realized that social distancing offered a chance to innovate home inspections by introducing remote live stream inspections.
Our inspectors would do on-site home inspections, and provide a live-stream link for the homebuyer and realtor to attend remotely.
While it is definitely a response to the pandemic; it also offers a long-term solution to the longstanding problem of scheduling with the inspector, home buyer and realtor. With remote live stream inspections, the realtor and inspector can stay in their offices and watch the inspection via live stream link.
We felt we had a great idea but we wanted to pitch it to the tech community! So we entered the DC StartUp Week 1st Virtual Pitch Competition,
After competing with 9 other companies, AfterrHome emerged as the winner! We won $1,000, a free month at WeWork, in-kind services from Technology Rivers and the validation of the community.
We received lots of positive feedback from users and industry professionals and are set to launch on November 1, 2020.
By integrating A.I. and remote live stream inspections, we are changing the way home-related inspections are conducted.
In the next 12 months we are looking towards the following milestones:
-Establish 5 brokerage partnerships
-Add all advanced features fully integrated on our site
-Establish partnership with the Baltimore Department of Health for Environmental Inspection Hazard Prevention Programs
-Fully launch in at least 5 states
Thank you for choosing us! We hope that you'll stay connected with us and follow us along our success journey!!
AfterrHome Inc. has financial statements ending August 31 2020. Our cash in hand is $13,078.57, as of September 2020. Over the three months prior, revenues averaged $0/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $0/month.
Management’s Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.
AfterrHome is a platform that uses Artificial Intelligence to help users book remote live-stream home inspections. Our A.I assistant recommends inspections based on the neighborhood data & helps users book the inspections online. Users pay 50% at the time of booking and the balance is paid over 3 months. Our home inspector will conduct an on-site inspection, while our users and their realtor view their inspections via live-stream link. Users receive an instant SMART Inspection report.
In 5 years, we hope to be conducting remote live-stream inspections in every U.S. state and in Canada.
Our SMART Inspection Report will be available for licensing to home inspection companies.
Our goal is to have enhanced our platform to include a virtual reality where users can step into the virtual version of their prospective homes. They can scan each component and receive an analysis report on the "health" of that component and its "life expectancy."
AfterrHome Inc was incorporated in the State of Delaware in January 2020.
Since then, we have:
Historical Results of Operations
Our company was organized in January 2020 and has limited operations upon which prospective investors may base an evaluation of its performance.
Liquidity & Capital Resources
To-date, the company has been financed with $17,500 in debt.
After the conclusion of this Offering, should we hit our minimum funding target, our projected runway is 12 months before we need to raise further capital.
We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don’t have any other sources of capital in the immediate future.
We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 3 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.
Runway & Short/Mid Term Expenses
AfterrHome Inc cash in hand is $13,078.57, as of September 2020. Over the last three months, revenues have averaged $2,000/month, cost of goods sold has averaged $0/month, and operational expenses have averaged $2,000/month, for an average burn rate of $0 per month. Our intent is to be profitable in 3 months.
We received a $10K investment We have spent more money on equipment, administrative costs and operations.
Our platform is built to book all inspections and we can begin booking immediately. We expect to need a total of $50k in capital to reach a revenue generating point. We hope that amount of funding will allow us to:
-Add the A.I. feature that uses the property address to scan the neighborhood environmental data to recommend additional inspections (lead, radon, termites etc.)
-Build our self-analyzing SMART Inspection report
-Build the contractor portion of the site that connects users with contractors
-Expand into DC & Maryland at minimum
In 6 months, we expect our revenue to be approximately $10,000. We expect to perform at least 700 lead inspections at approximately $400/inspection. We expect to perform at least 500 home inspections at approximately $500/inspection. We believe our expenses will be approximately $20,000 during the same period.
The above projections cannot be guaranteed.
We rely on our own bootstrap investments of $1,000 per month to provide capital for our company to pay for marketing and administrative costs.
COVID-19 has somewhat slowed the homebuyer's market; therefore there is some slower movement with home inspections.
Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.
Inspectors may be reluctant to adopt our model because they have operated without transparency and may not be tech savvy; thus we have to train them on our model.
Our assumption is that homebuyers will prefer the remote home inspection option; but they may prefer to wait to buy homes when they can view the inspections in person.
We are a small team currently; with 2 full-time founders and 2 of our technical employees part time.
COVID-19 has changed the labor industry; thus we have to allocate more resources to ensure that our employees are following safety protocol and procedures. Therefore, we must spend more money on ensuring that we exceed the safety guidelines to ensure that we can operate.
Temporary Rule 201(z)(2) provides temporary relief from certain financial information requirements by allowing issuers to omit the financial statements required by Rule 201(t) in the initial Form C filed with the Commission. This offering has commenced in reliance of Temporary Rule 201(z)(2) and, as a result, the following must be disclosed: (i) the financial information that has been omitted is not otherwise available and will be provided by an amendment to the offering materials; (ii) the investor should review the complete set of offering materials, including previously omitted financial information, prior to making an investment decision; and (iii) no investment commitments will be accepted until after such financial information has been provided.
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