Frank App Inc.

The average contractor:

• Spends countless late nights at the office estimating potential projects.
• Can't tell which customers are serious.
• Loses projects because they take too long to submit a bid.

This all adds up to $42,000 in unbillable hours estimating each year.*
*Based on an industry average of $44/hour, 18 hours per week.

Meanwhile, the average homeowner:

- Has no idea what tot expect in terms of prices and timeframes.

- Must schedule multiple in-home consults, with no results for weeks.

- Doesn't have the knowledge to evaluate what's reasonable.

In one of the biggest purchase moments of their lives, homeowners are left in the dark.

Frank uses automation to bring clarity and transparency to renovations, enabling contractors to create detailed estimates on-site, with the client, in just minutes.

On a phone or tablet, contractors are guided through proprietary, logic-driven questionnaires based on the project scope and the client's requests. 

Contractors have been capturing project information manually for decades, but now Frank organizes all the data and turns it into something amazing.

With that information, Frank automatically produces a document with detailed pricing, labor hours needed, item selections, site photos, and more – all in just minutes. 

The detail is incredible – complete enough for contractors to really use, and clear enough for homeowners to understand.

Now, homeowners have the pricing and knowledge they need, and contractors are done in minutes.

The best way to really understand how Frank works is to see it in action. Check out the video above for a quick overview!

We’ve demoed the product extensively, and we have more than 250 contractors on our waiting list who are eager to use Frank when it’s launched – some have even pre-purchased seats. 

All told, just this small group of initial companies represents nearly a million in ARR.

*These are forward-looking projections that cannot be guaranteed.

In addition to our core SaaS revenue, Frank can unlock additional revenue streams through:

•  Invoicing: Transaction fees on in-app project invoices.
•  "Job Won" Leads: Eventually, homeowners will be able to generate their own initial ballparks using our project questionnaires, and we will sell those projects to qualified contractors in our network. Unlike competitors, the completeness of our automation allows contractors to buy vetted job wins, not just leads.
• Marketplace: We will charge a commission on appliances, fixtures, and materials that contractors sell to homeowners in the app – right at the optimal purchase moment.

In addition to contractors and homeowners, Frank has tested extremely well with Interior Designers and Architects.

This large market size with multiple revenue streams represents a truly massive opportunity.

*These are forward-looking projections that cannot be guaranteed.

With a small fraction of the renovation contractor market, Frank could achieve over $200M in ARR by year 5 and would be poised for a very strong exit as early as 2025.*

*These are forward-looking projections that cannot be guaranteed.

The construction tech industry has been undergoing major consolidation since 2018, and many analysts predict that this trend is just beginning to ramp up.

Recent exits in construction tech have gone for 6-8x revenue and $10-$15k per user.

At 1% market share (6,500 users, $30M ARR), Frank could command an exit value of $65M-180M at the low end and $97.5M-$240M at the high end.

This could occur by year 3 even with conservative projections.*

*These are forward-looking projections that cannot be guaranteed.

Frank represents a huge advance over competitors for both contractors and homeowners.

For Contractors: Frank's estimate automation and instant lead qualification are in a league of their own. Competitors offer saved templates that still take substantial office time to fill out, meaning that it's still difficult for contractors to determine which clients have realistic budgets up front.

For Homeowners: Frank empowers homeowners to understand their specific project like no other tool. Line-by-line estimates, material and appliance comparisons, secure invoicing, and automated schedule estimates are all available – instantly.

Contractors trust other contractors, and we are already part of their community. Leveraging sources our target market trusts is the key advantage that will allow us to sell like no one else, and we already have a growing wait-list of hundreds of contractors who can't wait to use Frank.

• Industry Groups: Our preexisting relationships with BKBG, NAHB, and others have enabled unique co-marketing opportunities.
• Free Trials & Referrals: New contractors can try Frank for a month and get another free month for signing up friends.
• Online & Influencer Marketing: Frank is being actively featured by influencers with over 250k contractor followers.
• Integrations with Adjacent Software: Frank is building integrations with Quickbooks and Buildertrend to be seen by more contractors.

To achieve our vision for the future of contracting, we will undertake 3 major phases.

• Pro Contractor Tools: Initially, our focus will be on solving efficiency and cash flow problems for contractors.
• Homeowner Tools: We will then introduce even more advanced tools for homeowners to test and automate new remodel plans using Frank's estimating engine. Then we will use our network of contractors to find them the perfect bid.
• Collaborative Tools: Ultimately, we want to be the space where homeowners, contractors, architects, and Designers come together to communicate about all aspects of the project in one place. 

We are a group of proven professionals with a unique blend of tech and construction knowledge.

Frank has already raised more than $300k from experienced contractors who have used our prototype and understand that it's a game changer for the industry.

With just a portion of those funds, we have built and deployed a full working prototype at our contracting partner company, conducted extensive research to determine pricing and viability, designed the user experience, and have begun engineering a market-ready product.

This round of funding will allow us to drastically increase our engineering pace and put us in position to acquire 500 customers by launch.*

*These are forward-looking projections that cannot be guaranteed.