Entrepreneur Emmanuel Brown pitches ChurchSpace, a platform connecting churches and renters, aiming to generate revenue. Investors explore the potential of congregational support, church partnerships, and utilizing church spaces for events. The discussion highlights the unique business model, market trends, and the entrepreneurial journey post-pitch, emphasizing faith-driven investments and building community engagement.
ChurchSpace transforms underutilized church real estate into vibrant community spaces, generating revenue and fostering local connections.
Church space operates on a take rate model, aiming to scale its operations and empower churches to earn new revenue.
Church space prioritizes safety, credibility, and inclusivity, attracting diverse investors and promoting community-led growth.
Deep dives
Transforming Underutilized Church Real Estate into Community Spaces
Church space, an innovative platform, transforms underutilized church real estate into vibrant community spaces, unlocking nearly a trillion dollars in valuable real estate. With church buildings empty 70% of the time, the platform offers churches a way to generate revenue and connect with the local community. By providing churches with a marketplace to share their spaces, such as commercial kitchens, for events like weddings and local gatherings, the platform creates a win-win situation benefiting both churches and local entrepreneurs.
Market Expansion and Revenue Generation for Churches
By tapping into the untapped commercial real estate supply of churches in America, Church space aims to scale its operations to new markets like Dallas, Austin, and Atlanta while empowering churches to earn $60,000 per year in new revenue. Through partnerships with denominations housing multiple churches, the platform facilitates access to a network of churches for a diverse range of events and services, fostering community growth and economic sustainability.
Business Model and Growth Strategy
Church space operates on a simple take rate model, earning 20% from transactions, with churches willing to accept a 25% rate. The platform also explores a subscription model for food entrepreneurs, allowing access to a network of church-based kitchens. With a focus on scalability, strategic partnerships with faith-based PE funds and a mission to become a billion-dollar business, Church space aims to revolutionize the event and food entrepreneurship industries.
Building Trust, Overcoming Stigma, and Promoting Community Engagement
Navigating challenges related to church real estate and mental health crisis among pastors, Church space emphasizes trust-building and credibility. By addressing IRS compliance issues and partnering with Thimble for comprehensive insurance coverage, the platform ensures safety and reliability for users. By fostering community-led growth and engaging with a diverse set of users, including church planting networks, weddings, and small events, Church space aims to promote inclusive and thriving communities.
Investment Journey and Diversity in the Investor Base
After securing investments from a diverse group of investors, including faith-driven backers, Church space continues to attract funding and support for its unique mission. Balancing faith-based and commercial interests, the company seeks to expand its presence and impact by engaging with investors aligned with its community-oriented vision. With a commitment to inclusivity and sustainability, Church space embodies the intersection of faith, entrepreneurship, and community development.
Post-Pitch Progress and Investor Engagement
Following the pitch, Church space received investments and commitments, indicating investor confidence in the platform's potential. With ongoing diligence calls and strategic partnerships, the company is poised to achieve its fundraising goals and expand its operations. Embracing diversity in its investor base and leveraging relationships to drive growth, Church space remains dedicated to transforming underutilized church real estate into dynamic spaces for community engagement and economic empowerment.
Growing up as a pastor's kid, Emmanuel Brown saw what a financial burden church real estate can be. Churches sit empty 70% of the week even though they have commercial kitchens and professional sound systems and oh so much space for activities! So Emmanuel built ChurchSpace, a church rental marketplace. He has faith in his business – but can he convert investors if they believe congregations are shrinking?
