Partnerships at Neyborly
Neyborly is on a mission to make space for everyone.
We are committed to providing the most affordable social space for events, meetings, and parties.
By transforming empty storefronts into thriving gathering hubs, Neyborly is enlivening neighborhoods and helping activate main streets. While e-commerce continues to displace and disrupt traditional retail we envision a long term need for commercial real estate transformation.
Interested in getting involved?
Consider this a beta test. We are going to choose 5 small markets to run these partnership concepts before rolling it out to the rest of the United States. We’ve got 2 wonderful cities in line and we’re actively searching for 3 more.
We believe there can be one Neyborly for every 60,000 people - this rounds out to be 5,000 locations in the United States alone. We need your help to lay the groundwork for this network of incredible liquid real estate.
We need smart thinkers, doers, and entrepreneurial spirits. You’ll help us test fresh ideas, contribute often, and shape the future of Neyborly.
Let’s break it down together.
If you’re curious but want a deeper dive into the business, the following information is for you. We’ll cover some unit economics, customer types, market considerations, and a very general investment overview.
Who uses a Neyborly?
40 % Private Parties
Think birthdays, baby showers, stand-up comedy nights. These customers book week nights and weekends.
Board room meetings and presentations, political fundraisers. These clients typically rent space during the weekdays.
40% Business Clients
20 % Retail and Pop-Up
Our largest is Rent the Runway. They leased a turnkey space for 8 months in Downtown San Francisco and our smallest are private artists doing evening long exhibitions.
How much does it cost? How much will I earn?
The upfront investments you’ll prioritize are the build-out and real estate expenses, and licensing fee to get your location ready to go. On average a build-out ranges from $25,000 - $35,000 and includes all interior renovations. Along with this you’ll pay Neyborly the $10,000 licensing fee and your space is up and running!
Once a location is open you can expect an average monthly revenue of $24,000, a maturity window of three to four months, and an average margin of 21% for every month after your location has reached maturity. At these rates we’ve experienced a full return on investment within 12 months. Neyborly implements a 10% monthly royalty fee but you’ll keep the 90% share of the locations revenue.
I’m sure you’re wondering “What do I get in return for my investment and these fees?”. Great question - and we’ve got the laundry list below.
Comprehensive and Ongoing Training and Business Support :We will fully guide you through getting your Neyborly up and running. Once it is, we will spend 14 days on-site with you and an unlimited amount of time over the phone, email, face-time, slack, or however you communicate.
Furnishings: A large part of your upfront costs account for build out - AKA what we know to make a space pop. A truck will show up with hand-crafted tables, chairs, IoT technology, and more after your lease is finalized allowing you to outfit your Neyborly with we know makes it beautiful for people to use.
Design: Our stellar in-house design team will make sure your plans are on brand with Neyborly and assist you in the practicalities of your build out.
Equity: We have decided to offer our first 5 Joint Venture Partners equity in Neyborly, Inc.
Technology: Online booking, Sales & Marketing Automation,. We give you the same tools we used to manage our own successful locations.
Permitting/Zoning & Real Estate: At Neyborly, what makes our spaces successful is their uniqueness. Negotiating real estate deals isn’t for the faint of heart - and we’re happy to help take the reigns here.
Centralized Accounting/Finance support - We handle all of the accounting for you. You get paid out on your earnings weekly.
HR - While this is your business and want you to choose who helps you run it, we will be sure to onboard them, provide benefits and payroll to whoever you hire to assist you.
Legal Support at cost (We recommend you hire someone for planning purposes before committing to become a Neyborly partner).