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Night Inn

Setting the Scene

  • Businesses and brands spend billions on outsourced hospitality activations and services, yet struggle to connect with high-quality talent.

  • Challenges include:

    • Identifying top-tier chefs, sommeliers, mixologists, and entertainers.

    • Booking difficulties due to inconsistent communication and diverse vendor requirements.

    • Operational inefficiencies such as a lack of standardized processes and scheduling conflicts.

  • This week’s company provides a freelance marketplace connecting hospitality talent with clients.

In a Sentence

Night Inn is a centralized marketplace to find freelance hospitality talent for elevated experiences.

  • Centralized: The all-in-one platform streamlines communication and operations, ensuring efficient processes from experience building to client booking to payments.

  • Elevated: Night Inn connects top-tier hospitality talent like chefs and sommeliers to corporate businesses, allowing professionals to run a lucrative freelance business outside of their bars and restaurants.

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Bulleted Version:

  • Night Inn is like TaskRabbit for hospitality talent, where industry experts such as chefs and mixologists can list their services for companies to easily book and manage.

The Basics

  • Headquarters: New York, NY
  • Employee Count: 2
  • Investors:

    Riverside Ventures, TBD Angel Syndicate, Various Hospitality Angels

  • Funding amount: $200k angel round
  • Business model: 20% take rate on all bookings
  • Early traction: $618K GMV in 2023, $117K net revenue, forecasting $1.5M GMV in 2024, 85% retention for real estate clients, 50% for corporate clients​​ which include Blackrock and Deloitte

Due Dilligence

WHAT WE LIKE

  • Market: The U.S. corporate events market is valued at over $100B, with trends shifting toward a freelance economy, as 39% of the US workforce is already participating.

  • Lucrative for Talent: Night Inn’s early talent on the platform earns significantly more than working traditional restaurant hours, even after the 20% take rate

    • This addresses the income volatility faced by 49% of nightlife professionals, 58% of whom have more than one income source​​.

  • Solving Talent Discovery: Night Inn addresses a significant problem by providing a streamlined platform for businesses to find and book top-tier hospitality talent, which is typically fragmented and hard to access​​.

POTENTIAL RISKS

  • Niche: Night Inn’s business model is booking-dependent, which, given the company’s niche focus, could limit explosive growth and predictive revenue.

  • Limited Reach: While Night Inn offers a valuable service, its corporate user base may not yield the network effects needed for rapid expansion across geographies.

  • Luxury: As a luxury service for B2B and high-end clients, Night Inn’s offerings could be among the first to be cut during economic downturns or corporate budget cuts.

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Founder Profile

Why Night Inn

  • By providing an all-in-one platform to connect B2B clients with top-tier hospitality talent, Night Inn is setting the table for a new era in the corporate events industry.