Yuung

Summary

Disrupt medical aesthetics – innovative booking solution

About YUUNG:

YUUNG is an online booking platform, created by doctors, that people can use to find and book aesthetic / cosmetic procedures such as botox or dermal filler injections. For aesthetics practitioners and doctors, YUUNG will help manage bookings in addition to providing an inventory procurement solution.

YUUNG’s vision:

Disrupt medical aesthetics make it safe, affordable and accessible for new and existing patients and providers

Status on current round:

Seeking to raise £850k for an 18-month runway, of which £30k is committed.

Investment Interview

Explain what your venture does.

YUUNG is a digital platform that upgrades, aggregates and professionalizes the medical aesthetics market. The medical aesthetics market is growing rapidly as new trends such as "preventative botox" arise and patients learn about the evidence based effectiveness of wrinkle relaxers and fillers. However, there are few regulations around who can inject these products today, leading to huge variability in quality and safety from one injector to the next. YUUNG vertically integrates the patient experience by creating: access to evidence based information, transparency on provider quality and price, innovative and insightful reviews, real time booking, payment plans and subscription services.

What stage is your business?

Traction to date, we have: 1) Onboarded 20 plastic surgeons / aesthetic providers 2) Developed prototype 3) Completed 90 customer surveys / interviews 4) Completed pilot of 10 users with great feedback 5) Received support from BAAPS - British Association of Aesthetic Plastic Surgeons 6) Received support from Net-A-Porter MD, Matthew Woolsey (onboarded as board member and advisor).

Describe your advisers.

Professor Mosahebi is the Head of the one the largest plastic surgery teaching units in the United Kingdom. He is a Council member for the Royal Society of Medicine and British Association of Aesthetic Plastic surgeons, as well as being a member of the research committee for the British Association of Aesthetic and Plastic surgeons. Matthew Woolsey is the Global President of 66 North and former managing director of Net-A-Porter He is a resident expert at Oxford Foundry and a mentor on the NHS England Clinical Entrepreneur Programme.

Give an overview of your startup's financing history.

Self funded - £15,000 Domain acquisition - £1,000 premium domain (yuung.com) Domain hosting - £500 Build of platform using contractors - £12,500 Market research - Google scrape of all practitioners in UK - £2,000 Trademark of YUUNG with IPO - £200.

Explain the ownership structure of your company.

David Zargaran (50%), Alexander Zargaran (50%).

How many employees do you have?

2 - plan to recruit CTO at next funding round.

How much money are you seeking to raise in the current round?

£850,000.

Explain why you are raising finance.

Cost Structure: Aim to target 10,000 customers Y1 - Customer Acquisition Cost (CAC = £60pc) - 10,000 x 60 = £600,000 Website architecture designed and built in PHP/SQL - further quote to improve UI = £20,000 Quote for app development for iOS and Android stores = £80,000 Salary 3 staff at 50k = £150,000.

Please explain the history of your venture.

Working as a plastic surgeon in the NHS, I have seen many patients attend A+E with multiple complications related to unsafe and poorly administered botox / fillers. The lack of regulations within the UK have contributed to the progression of this issue. Furthermore, through my own practice, many patients have reported challenges in the process of identifying safe practitioners and booking appointments. The painpoints have been outlined for both patients and providers in the pitch deck and together with my brother (another doctor), we have worked to develop a strong message of an evidence based aesthetics platform.

Please explain the longer term, future vision for the Company

Long Term - YUUNG will look to move into the wellness space beyond aesthetic procedures and develop a brand recognition of an aspirational / luxury and safe / evidence based portal for wellness.

Explain the core technologies and/or service propositions of your venture.

YUUNG vertically integrates the patient experience by creating: access to evidence based information, transparency on provider quality and price, innovative and insightful reviews, real time booking, payment plans and subscription services.

Does your commercial strategy rely on intellectual property assets?

Commercial strategy will rely on a combination of 2 factors. Strong branding (high end / luxury market) - name YUUNG - trademarked with Intellectual Property Office, also strengthened with advisor Matthew Woolsey (MD of Net-A-Porter). Strong safety message - collaborations and endorsements with BAAPS (British Association of Aesthetic Plastic Surgeons) through advisor team (Prof Mosahebi).

What commercial progress have you made?

Traction to date, we have: 1) Onboarded 20 plastic surgeons / aesthetic providers 2) Developed prototype 3) Completed 90 customer surveys / interviews 4) Completed pilot of 10 users with great feedback 5) Received support from BAAPS - British Association of Aesthetic Plastic Surgeons 6) Received support from Net-A-Porter MD, Matthew Woolsey (onboarded as board member and advisor).