HeyBryan Media Inc (CNSX:HEY) Home-Maintenance Industry App Begins Trading
Bryan Baeumler, star of HGTV’s show ‘Island of Bryan’ and the face of HeyBryan Media Inc (CNSX:HEY) and the company CEO Lance Montgomery join Midas Letter to discuss taking the home-maintenance industry app public. HeyBryan connects homeowners with vetted home-service providers to complete small tasks around the home using an app. The app names “HeyBryan” aims to revolutionize the home-service industry, eliminating the middleman and removes any issues of money exchange. The pair discuss how the app works and future expansion plans across North America.
James West:My next guests are Brian Baulmer and Lance Montgomery. who are the founders of HeyBryan Media Inc, trading on the CSE under the symbol HEY. Welcome guys.
Bryan Baeumler: Thanks for having us
James West:Tell me about… I mean people probably know what Bryan does and HeyBryan media is, but tell me about what your company idea is?
Bryan Baeumler: The HeyBryan app is a home service app where we connect homeowners with experts. So if you’re sitting at home, and you have something you need done and you don’t know how to do it and you don’t know where to find someone to do it and you’d like me to come and do it. That’s probably not going to happen. But if you need someone to come and do the job for you, you can go on the App get matched up with an expert that is specifically focused on that field of work. It’s for small tasks around the home. A lot of complaints we hear our homeowners that want a small job done at home and they can’t get a contractor or someone to come in. So, this really connects you with the people that are Interested in that exact type of work.
James West:I have this experience all the time. In fact this summer my air conditioner crapped out on the hottest day of the year, which is the only time they ever crap out, and it took me three weeks to actually get the thing replaced because it was so hard to find somebody and so I’m going to be a willing user of the service. I have an old house in Cabbage Town and I just got a farm in Dunneville. So then when I heard what you do, I thought boy I wonder if I can get them to come out and renovate my place on camera. That would be great. But we’ll have that conversation later. Okay, so now HeyBryan Media is going to be an investment opportunity was my understanding which is why you’re here. And so, tell me then is this planned as an international, sort of global concept, or is this like regional concept or do you think this is something that you can you can grow to a national scale?
Bryan Baeumler: I think we’ve I mean, I’m going to let Lance talk to the business Side, he’s the CEO involved in day-to-day, but certainly with my shows and my brand, we’ve been building throughout the years. You know Island of Brien is the latest project we work on that people actually have access to the property. So, this takes it kind of one step further. Where people not only have access to the property in the service but to the investment opportunity as well.
James West:Very cool.
Lance Montgomery:Yeah, and I think for expansion for HeyBryan, you know home maintenance is one of those things that goes anywhere. It’s a global issue. We’ve started in Vancouver, in Toronto with plans to expand across the rest of the country, but realistically there’s nothing stopping us from going global or into North America, you know, the need is everywhere,
James West:Right. So, tell me about the revenue model. How does that work?
Lance Montgomery:So, our revenue model is based on 27 and a half percent. We take seven and a half percent from the customer as a trust and support fee which covers some of our hard costs for payment processing insurance. And then we take 20% from the home service expert. We don’t tell them how to set the rates so they can offset that fee, but that’s how we make our money.
James West:Interesting. So then how do you verify the skill set of the trades who you ultimately end up recommending?
Lance Montgomery:So, we go through an onboarding process. We partnered with a company called Certain. Which is an AI based company that does ID verification credit check, criminal check and background check. We also do KYC checks through Stripe, our payment processor out of San Francisco. And then our customer support team actually calls them and does an onboarding to verify tickets and talk about our expectations. They also signed a terms of service with us that clearly lays out what is expected from them on the job site.
Bryan Baeumler: And you’re not hiring someone to build you a home or put an addition on this is for small tasks and the experts that are involved in and are pre-vetted in the system are the guys that are focused on those tasks and that’s their daily their Daily Grind and their daily interest. So, you’re not asking a plumber to come over and do some electrical for you. You’re asking someone specifically focused on that task.
Lance Montgomery:And right now there’s these people running around every city doing this work. Anyways, if you go Craigslist there’s hundreds of them. This is really bringing a platform together in a vetted, verified way that gives consumers the peace of mind that we’ve put in through a process that they’re credible and they’re going to do the work and they actually have a fallback if something does go wrong. That’s why we’re here
James West:Sure. I ended up using a Google verified contractor who turned out to be great. And that’s how I finally got the job done after, you know, trusting myself to just wade through Google searches and sort of eyeball who was close and who had a decent enough looking at and having a negative experience with that. So how will you compete with the likes of Google?
Lance Montgomery:Well, I think at the end of the day that’s how this business started for me was I did exactly what you said. I went to Google and I typed in dishwasher repair Vancouver and I got frustrated after about half an hour of searching through all these paid ads and I didn’t really know who to trust and who’s going to show up are they going to be available? What are they going to charge me? So ,we’ve kind of taken that pain point away from the consumers where they can actually book something on their schedule. They know exactly what they’re going to pay. They know the people have been vetted and verified. It’s all done through a seamless platform. No money changes hands. So, this is really takes out all those pain points that you discussed
Bryan Baeumler: That’s how the company started. He called me asked if I’d come do the dishes. There has to be a better way.
James West:See I wouldn’t have thought of that. Okay. So how many customers do you have now?
Lance Montgomery:We’re just approaching over seven thousand customers who have downloaded the app today?
James West:Oh, there’s an app. Great!
Lance Montgomery:Yeah. So its an app based business. Being at the CSE this morning and ringing in the Bell. We’ve had a few hundred downloads already today as well. So, we’re only live in Vancouver and Toronto, but we do have expect our plans to expand across Canada. So, we’re continually growing
James West:Very exciting. All right gentlemen, we’ll leave it there for now. We’ll have you back as the business progresses. Thanks for joining me today.
Bryan Baeumler: Thank you for having us.
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