How do I sign & return documents

Hey Ralph! We'll be sending along the documents to sign electronically and should have more information on that for you soon. Thx!

Why doesn’t realtors take photos themselves? Does next door photos participate in other industries (weddings, etc)? Is next door a franchise?

Hi Kevin! Realtors usually do not take their own photos for a couple of reasons 1) They are not professionally trained photographers or editors. Every hour of shooting requires 3-4 hours of editing and requires significant knowledge in complex editing software. 2) (Successful) realtors know their time is much more valuable spent on networking to find new buyers & sellers. 3) With the advent of consumer-facing search portals (Zillow, Realtor.com, etc.) buyers and sellers have come to expec...

Hi, congratulations on your success so far, and thank you for being a B Corp. The concept seems solid. I have some questions: First, with regard to financial, in one place you say 2019 revenue was around 2 million, and in another you say 4.75M. Can you clear that up? Second, y...

Hi Alan! Thanks for the kind words. Our top-line revenue from all NDP locations was $4.75M in 2019 and the revenue coming to the parent company was $2M. Our model does show profitability taking place in Q2 of this year, yes. The 12-month runway comment was a system default that we'll look at updating--thanks for helping us clear that up. Many of our Local Owners do not have photography backgrounds and would struggle to really scale this type of business without the services and resources the ...

Hi. What are your revenue goals (not projections) for the next 5 years? Also, why such a high minimum investment amount? It will prevent a lot of interested people from investing. You'll raise a lot faster with a lower minimum (maybe $200) and investors that can afford it will...

Hi Leonardo, The projections are on the last side of the NDP Deck download in the About section as you may have already seen. Projections and goals are similar language for us. Also, we kept the investment amount higher because this is an equity opportunity and involves periodic distributions. Thanks for the questions!

A few questions: 1. Your G&A expenses double between 2017 and 2018, do you expect the G&A cost to continue to double each year? 2. When do you expect to become profitable? 3. What was your valuation during your 2018 raise? Thanks

Hey Mark! 1. 2017-2019 was a leadership/platform building time period for the team and resulted in a doubling of G&A in 2017 and 2018. Those added roles/platform investments scale significantly and only incrementally increase compared to sales so the expenses do not double. Another factor is that as the already launched NDP Locations will be maturing into a profit share position in the coming months, increasing the top line without increasing the expenses. 2. 2020 is projected to be profi...

Next Door Photos

Real Estate Photography Capitalizing on Industry Shift Towards Virtual Tours

nextdoorphotos.com

Technology Service Real Estate

Highlights

RECENT GROWTH - Past 6 weeks average revenue per order up 38% as COVID pushes virtual tour add-ons

PROVEN TRACTION - 2019 revenue of $2.06M with revenue doubling YoY for 4 consecutive years.

VERIFIED IMPACT - NDP is a Certified B Corp that verifies their commitment to social and environmental sustainability.

PROVEN MODEL - NDP partners with entrepreneurs through a shared ownership model to launch locations that can grow to $1M revenue in 7 years

Team

The Story of Next Door Photos

Technology is completely disrupting the greater real estate industry--creating a much more efficient home buying and selling experience:

- Get pre-approved for a mortgage in 5 minutes or less with Rocket Mortgage
- Get an instant offer to purchase your home with a click of a button from Opendoor
- Quickly find your next home through a customized search on Zillow

Despite these advancements, it still takes realtors 5-7 days--on average, to schedule a shoot and receive completed media after the shoot. Realtors waste too much time and money waiting for the photos they need to publish their listings.

Introducing Next Door Photos

Co-founders Paul Vander Kuyl (an engineer) and Taylor Blom (a real estate photographer) created Next Door Photos (NDP) in October, 2015 to help realtors publish listings faster--saving them time and money. They created a unique business model where NDP (the parent company) partners with local owner/operators who provide real estate marketing services to their local communities. All powered by an enterprise platform with global editing operations. Listings are photographed next day and edited with a 12-hour turnaround.

Upending an Industry

This combination of an local owner powered by an enterprise platform started to gain traction quickly when the first 3 locations launched in the spring of 2016. By the end of 2017 the leadership team started to get built out team and they had launched into 12 markets. Local Owners were building relationships with realtors in their communities and partnerships with larger real estate companies (Redfin, Berkshire Hathaway of MI/IN) started to develop as the footprint grew.

The Right Place at the Right Time

As they continued to grow, the adoption rate of professional listing media continued to increase led by consumer demand. By the close of 2018 they were operating in 28 markets (including our launch into Canada) and grew a team of over 100 photographers (media pros) assisting Local Owners.

Bringing it All Together

By the end of 2019, they had proven out the scalable platform, Local Ownership model, and client acquisition strategy. They brought on 3 Regional Directors to assist the Director of Expansion in recruiting new Local Owners which will help the organization launch 40 locations in 2020 (and every year thereafter)

A Lot can Happen in 4 Years

Downloads

NDP Deck - WeFunder FINAL.pdf

Overview