iRef connects sports leagues and referees.
- Rob Sigmon, Founder/CEO
HHJHH
An Industry In Pain
Worldwide referee shortage in every sport
1 billion amateur games played annually
iRef trains and matches referees:
Eliminates league administration
Background checks/rates referees
Increases referee earnings
Simplifies payment and taxes
Value Proposition
Sports Leagues: (No fee for iRef services)
Expanded referee universe
Background checks and certifications
Taxes and administration costs eliminated
Ecommerce referee payment
Referees: (Maximized Earnings)
Weekly direct deposit payments
Geo work preference, performance rating
Consolidated tax reporting
Dashboard: game management, earnings, certs
iRef Matching Process
Request a Ref:
And find a
match!
Sales Strategy
Diverse revenue streams:
1) Referee game commissions
20% of gross referee fee paid by league
2) Referee training clinics
New refs and upgrading certifications
3) Advertising
App platform and SMS push
4) Sponsorships
Sports and other brands – unreached demo
Go To Market Strategy
Phase I – 6 Months
Complete MVP
Sales Rep – contact leagues, procure referee listings
Beta test 10 leagues in Colorado
Pre Launch marketing to leagues and referees:
Digital, PR, mobile, email lists, associations
Market launch in Colorado
Phase II – 1 Year
3 Additional markets launched
Sales Rep in each region
Series A financing round to scale operations
Competition & IP
No existing referee/league matching app
Other services are potential partners:
Sports league consulting,
Team/player matching
League management
“iRef the perfect match” Trademark applied
Patent opportunity for matching technology
Main competitive advantage:
First to market
Domestic & international
Board of Directors
Rob Sigmon – MBA, sales and marketing executive with 25 years
entrepreneurial experience. Founded 5 businesses including JR
International Marathon, International CMO 2GO, Colorado Fresh
Mortgage , MoveDon Soccer League, Operated i9 Sports franchise.
John Reeb – PhD, MBA, Crestcom International, management
consultant with 30 years of business operations, lean process and
leadership experience at Fortune 500 firms. Established network
in sports, finance and funding.
Joe Clark – CEO at Prana Business, creator of Line-of-Site portfolio
SaaS systems for management consulting, mentor at MergeLane
and Boomtown Accelerator. Human Resource management, Lean
Sigma manufacturing and executive supply chain management/MIT.
John Ikalowych – MBA, Sr. VP Colorado Business Bank, corporate
business development, strategy, commercial banking, capital
acquisitions and funding, business coaching. Executive.
Director for C3, CoBiz C-Suite Collaborative.
Start Up Management Team
Rob Sigmon – CEO, Operations, fundraising, strategic marketing
Jonathan Bryant - VPBD, Business dev, sales, market management
Dan Wilson – CMO, Marketing, engagement, SEM, SEO
Will Feldman – CTO – App development, website, video
Chris Whitaker – CFO, Financials, due diligence, justification
Greg Wilson – Controller, AR, AP, ecommerce systems
Justin Staudenmayer – CSO – Strategy, IP, inter, sports marketing
Shahroukh Dastur – VPF, Finance, sales, valuation, M&A
Dave Terpstra – CIO, International operations, go to market
Kristi Hamrick – CPO – Publicity, public relations, marketing
3 Year Revenue Projection
Revenue per League
1 League with 50 games and 100 referee hours per month @
$30 per hour = $3,000 Gross Revenue
End of Phase I, 6th month of operations
Sales goal = 10 leagues = $30,000 Gross Revenue
Year 1
4 Markets: 100 leagues ea. = $1.2M Gross Revenue
Year 2
20 Markets: 100 leagues ea. = $6M Gross Revenue
Year 3
60 Markets: 100 leagues ea. = $18M Gross Revenue
Net Profit = $1.9M
Represents .2% global market share
Milestone #1 = MVP Market Launch
Complete programming app and website, data storage and security
Sales rep hired and IP plan implemented
Customer Service, accounting and payment processing operational
10 Leagues contracted in Colorado, first training clinic conducted
Use of Funds
Programming
Management Team salaries
(CEO, CMO, CTO, Sales, Customer Service, Ref Trainer)
Operations G&A
Marketing
Working capital
$100,000
$82,000
TOTAL
$300,000
$52,000
$35,000
$31,000
Cap Table
Proposed share distribution:
Rob Sigmon
501,000
App Developer
50,000
Startup Management Team (10) 20,000
Board of Directors (3)
15,000
Option Pool (16%)
175,000
Phase I Angel investors
330,000
Total Post Money Shares
1,091,000
Pre$
85%
9%
3%
3%
Post$
46%
5%
2%
1%
16%
30%
Seed Funding Round
$100,000 Investment:
Equity
Revenue Share(Net)**
1 Board Seat
10%
5%
Return
7.6 x =$760,000*
3 x = $300,000
$50,000 Investment
Equity
Revenue Share(Net)*
4%
2%
3 x =$304,000
2 x = $100,000
$25,000 Investment
Equity
Revenue Share(Net)*
2%
1%
1.5 x =$152,000
1.5 x = $37,500
*$2 Million post money valuation, exit plan in year 4 at 4 x projected Net Revenue
of year 3 = $7.6 Million.
**Net Revenue is 17% of Gross Revenue from referee fees and 37% from referee
training clinics, paid quarterly, 30 days following quarter end. Cap is the maximum
payout over three full years of operation, starting after the completion of the 6
month Phase I.
Contact
iRef, Incorporated
Rob Sigmon, CEO
303-941-1925
[email protected]
4045 S Broadway, Suite 106
Englewood, CO 80113