Portfolio Overview – 16 Experiences
Exclusive Brand
8 Experiences | Dark Navy Identity
Two Brand
8 Experiences | Teal Professional Identity
| Name |
Brand |
Duration |
Pax |
Costs |
Fee |
Revenue |
Complexity |
Margin % |
Partner Ecosystem by Category
🏨 Hospitality
- Categories: 5-star hotels, Boutique lodges, Private villas, Wellness resorts
- Coverage: 16 experiences
- Criticality: Critical
- Retainer Partners: 8
- On-Demand: 5
- Risk Level: 🟡 Medium
🍽️ Dining & F&B
- Categories: Michelin-starred restaurants, Specialty chefs, Wine pairings, Wellness cuisine
- Coverage: 15 experiences
- Criticality: Critical
- Retainer Partners: 6
- On-Demand: 8
- Risk Level: 🟡 Medium
🚗 Mobility
- Categories: Private aviation, Yacht/boat charter, Premium NCC, EV fleets, Executive rail
- Coverage: 14 experiences
- Criticality: Critical
- Retainer Partners: 4
- On-Demand: 7
- Risk Level: 🔴 High
🎭 Cultural & Events
- Categories: After-hours venue access, Art galleries, Curators, Sport events, Performance artists
- Coverage: 12 experiences
- Criticality: Medium
- Retainer Partners: 3
- On-Demand: 9
- Risk Level: 🟢 Low
👥 Specialized Services
- Categories: Guides/photographers, Wellness coordinators, Security staff, Permit management
- Coverage: 13 experiences
- Criticality: Medium
- Retainer Partners: 5
- On-Demand: 8
- Risk Level: 🟢 Low
P&L Previsionale Y1-Y5
| Year |
Revenue |
OPEX |
EBITDA |
EBIT |
Net Income |
| Y1 |
€674,000 |
€584,733 |
€89,267 |
€10,267 |
-€29,733 |
| Y2 |
€991,000 |
€637,824 |
€353,176 |
€274,176 |
€170,832 |
| Y3 |
€1,347,840 |
€681,859 |
€665,981 |
€586,981 |
€398,389 |
| Y4 |
€1,585,440 |
€716,859 |
€868,581 |
€789,581 |
€546,714 |
| Y5 |
€1,836,000 |
€755,319 |
€1,080,681 |
€1,001,681 |
€702,003 |
Key Highlights:
- Revenue Growth Y1-Y5: +172%
- EBITDA Margin Y1: 13.3% → Y5: 58.8%
- Profitability Inflection: Y2-Y3
- Break-Even: 18 months
OPEX Breakdown by Category Y1-Y5
| Category |
Y1 |
Y2 |
Y3 |
Y4 |
Y5 |
| Personnel |
€280,000 |
€298,200 |
€315,000 |
€330,000 |
€345,000 |
| Tech OPEX |
€165,000 |
€183,500 |
€203,000 |
€221,500 |
€241,000 |
| G&A |
€72,333 |
€76,699 |
€76,699 |
€77,699 |
€77,699 |
| Marketing |
€67,400 |
€79,425 |
€87,160 |
€87,660 |
€91,620 |
| Total OPEX |
€584,733 |
€637,824 |
€681,859 |
€716,859 |
€755,319 |
Revenue & Margin Evolution
Unit Economics & Pricing
| Scenario |
Exclusive Long |
Exclusive Short |
Two Long |
Two Short |
Avg Fee/Project |
| Basic (Y1-Y2) |
€62,000 |
€17,000 |
€12,500 |
€3,000 |
€13,000 |
| Best (Y3-Y5) |
€66,960 |
€18,360 |
€13,500 |
€3,240 |
€16,400 |
| Growth |
+8.0% |
+8.0% |
+8.0% |
+8.0% |
+26.2% |
Sensitivity Analysis:
- Fee +10%: EBITDA impact +€67K (Y1)
- Fee -10%: EBITDA impact -€67K (Y1)
- Break-even volume at current fees: 45 projects/year
Cash Flow Projection Y0-Y5
| Year |
OCF |
ICF |
Debt Service |
Net Cash |
Cumulative |
| Y0 |
€0 |
-€545,000 |
€0 |
€455,000 |
€455,000 |
| Y1 |
€49,267 |
€0 |
-€61,820 |
-€12,553 |
€442,447 |
| Y2 |
€249,832 |
€0 |
-€64,911 |
€184,921 |
€627,368 |
| Y3 |
€477,389 |
€0 |
-€68,157 |
€409,232 |
€1,036,600 |
| Y4 |
€625,714 |
€0 |
-€71,564 |
€554,150 |
€1,590,750 |
| Y5 |
€781,003 |
€0 |
-€75,143 |
€705,860 |
€2,296,610 |
Cash Flow Highlights:
- Initial Funding: €1M (€200K equity + €800K debt)
- Y0 Capex: €545K
- Y5 Cumulative Cash: €2.3M
- Debt Reduction: €800K → €458K by Y5
Cash Flow Components Y0-Y5
| Component |
Y0 |
Y1 |
Y2 |
Y3 |
Y4 |
Y5 |
| OCF (Operating) |
€0 |
€49,267 |
€249,832 |
€477,389 |
€625,714 |
€781,003 |
| ICF (Investments) |
-€545,000 |
€0 |
€0 |
€0 |
€0 |
€0 |
| FCF (Debt Service) |
€1,000,000 |
-€61,820 |
-€64,911 |
-€68,157 |
-€71,564 |
-€75,143 |
| Net Cash Flow |
€455,000 |
-€12,553 |
€184,921 |
€409,232 |
€554,150 |
€705,860 |
| Cumulative Cash |
€455,000 |
€442,447 |
€627,368 |
€1,036,600 |
€1,590,750 |
€2,296,610 |
Debt Service & Solvency
| Year |
Debt Outstanding |
EBITDA |
Debt/EBITDA |
Coverage |
Status |
| Y0 |
€800,000 |
€0 |
- |
- |
Setup |
| Y1 |
€738,180 |
€89,267 |
8.3x |
1.4x |
🟡 Medium |
| Y2 |
€673,269 |
€353,176 |
1.9x |
5.4x |
🟢 Healthy |
| Y3 |
€605,112 |
€665,981 |
0.9x |
9.8x |
🟢 Healthy |
| Y4 |
€533,548 |
€868,581 |
0.6x |
12.1x |
🟢 Healthy |
| Y5 |
€458,405 |
€1,080,681 |
0.4x |
14.4x |
🟢 Healthy |
Cash Runway & Burn Rate
Key Milestones:
- Month 12 (Y1): Cash burn phase ends
- Month 18-24 (Y2): Profitability inflection point
- Month 60 (Y5): Cash position reaches €2.3M
- Minimum cash reserve target: €100K
Partner Coverage by Pillar
| Experience |
Hospitality |
Dining & F&B |
Mobility |
Cultural |
Services |
Partner Activation Timeline
| Pillar |
Month 0-1 |
Month 1-3 |
Month 3-6 |
Month 6-12 |
Target by T12 |
| 🏨 Hospitality |
Legal/negotiation |
2 partners pilot |
3+ full activation |
Scaling |
4+ partners |
| 🍽️ Dining & F&B |
Legal/negotiation |
2 partners pilot |
3+ full activation |
Scaling |
4+ partners |
| 🚗 Mobility |
Legal/negotiation |
2 partners pilot |
3+ full activation |
Scaling |
4+ partners |
| 🎭 Cultural |
Flexible sourcing |
2+ partners |
3+ partners |
Expansion |
4+ partners |
| 👥 Services |
Freelance pool |
2+ partners |
3+ partners |
Expansion |
4+ partners |
Partner Risk Assessment
| Pillar |
Partner Count |
Criticality |
Risk Level |
Mitigation |
| 🏨 Hospitality |
13 (8 retainer + 5 on-demand) |
Critical |
🟡 Medium |
Retainer lock-in, redundancy list |
| 🍽️ Dining & F&B |
14 (6 retainer + 8 on-demand) |
Critical |
🟡 Medium |
Seasonal planning, backup venues |
| 🚗 Mobility |
11 (4 retainer + 7 on-demand) |
Critical |
🔴 High |
Aviation/yacht availability gaps, backup services |
| 🎭 Cultural |
12 (3 retainer + 9 on-demand) |
Medium |
🟢 Low |
Flexible, multiple venues available |
| 👥 Services |
13 (5 retainer + 8 on-demand) |
Medium |
🟢 Low |
Freelance flexible pool |
Partner P&L Impact
Revenue Attribution by Pillar (Y1 Estimates):
| Pillar |
Cost Base |
Revenue Contribution |
Margin % |
Strategic Value |
| 🏨 Hospitality |
€280K |
€350K |
25% |
Core experience differentiator |
| 🍽️ Dining & F&B |
€120K |
€155K |
29% |
High-margin value-add |
| 🚗 Mobility |
€180K |
€230K |
28% |
Critical logistics enabler |
| 🎭 Cultural |
€90K |
€120K |
33% |
Experience uniqueness driver |
| 👥 Services |
€75K |
€95K |
27% |
Operational excellence |
Sensitivity Scenarios:
- If Mobility costs rise 20%: Revenue impact -€36K
- If Hospitality margin compresses 5%: Revenue impact -€14K
- If Cultural availability drops 30%: Experience quality risk
Capital Allocation & Investment Structure
| Category |
Amount |
% |
| Tech CRM/AI/Security |
€285,000 |
28.5% |
| Team Core |
€280,000 |
28.0% |
| Legal/IP/Corporate |
€110,000 |
11.0% |
| Fondi Tattici |
€115,000 |
11.5% |
| Branding |
€67,000 |
6.7% |
| Marketing |
€50,000 |
5.0% |
| G&A Runway |
€50,000 |
5.0% |
| Debito Service |
€56,000 |
5.6% |
💡 Tech Stack Investment
- Total Investment: €285K (28.5%)
- Focus Areas: CRM, AI, Security
- Strategic Value: Personalization at scale
- Competitive Edge: Tech-enabled luxury service
👥 Team Investment
- Total Investment: €280K (28%)
- Core Roles: Exec Producer, Designers
- Team Size: 15+ per experience
- Philosophy: Talent-first approach
⚖️ Legal & Corporate
- Total Investment: €110K (11%)
- Coverage: IP, Corporate, Compliance
- Strategic: Dual-brand protection
💼 Funding Structure
- Total Capital: €1M
- Equity: €200K (20%)
- Debt: €800K (80%)
- Debt/Equity Ratio: 4:1
Capital Allocation Detail
| Category |
Subcategory |
Amount |
Type |
| Tech Stack - €285,000 |
|
CRM Salesforce |
€110,000 |
Capex |
|
AI/Data Cloud |
€75,000 |
Capex |
|
Security BYOK |
€37,500 |
Capex |
|
Collaboration Suite |
€22,500 |
Opex |
|
Integration APIs |
€37,500 |
Capex |
|
Hardware/Infrastructure |
€15,000 |
Capex |
| Team Core - €280,000 |
|
Founder/CEO stipend |
€120,000 |
Opex |
|
Director Operativo |
€108,000 |
Opex |
|
Travel Designer |
€52,000 |
Opex |
| Legal/IP/Corporate - €110,000 |
|
Holding + OpCo structure |
€60,000 |
Capex |
|
Marchi/IP registration |
€11,500 |
Capex |
|
Template contrattuali |
€15,000 |
Capex |
|
KYC/Anticorruzione policy |
€8,500 |
Capex |
Financing Structure
Debt: €800K (80%)
Equity: €200K (20%)
| Parameter |
Value |
| Total Capital |
€1,000,000 |
| Debt Amount |
€800,000 |
| Equity Amount |
€200,000 |
| Debt/Equity Ratio |
4:1 |
| Debt Term |
10 years |
| Interest Rate |
5% |
| Annual Service (Y1) |
€61,820 |
Scenario Variance Analysis – Revised vs Baseline (v20251029)
| Metric |
Baseline |
Basic |
Best |
Worse |
| Total Projects Y1 |
52 |
70 (+34.6%) |
100 (+92.3%) |
45 (-13.5%) |
| Revenue Y1 (EUR) |
€674,000 |
€922,000 (+36.8%) |
€1,668,600 (+147.5%) |
€466,240 (-30.8%) |
| EBITDA Y1 (EUR) |
€89,267 |
€337,267 (+277.8%) |
€1,083,867 (+1114.5%) |
-€118,493 (-232.7%) |
| EBITDA Margin Y1 (%) |
13.3% |
36.6% (+175.2%) |
65.0% (+388.7%) |
-25.4% (-291.0%) |
| Break-even (months) |
18 |
6 (-66.7%) |
1 (-94.4%) |
24 (+33.3%) |
| Cash Final Y5 (EUR) |
€2,296,610 |
€1,950,000 (-15.1%) |
€3,100,000 (+35.0%) |
€800,000 (-65.2%) |
Revenue & EBITDA Waterfall by Scenario
Basic Scenario: +€248K revenue increase (+37%) driven by +18 additional projects and improved exclusive mix.
Variance Table (Detailed)
| Metric |
Baseline |
Basic |
Best |
Worse |
Δ Basic vs BL |
Δ Best vs BL |
Δ Worse vs BL |
Best vs Worst Range |
| Total Projects Y1 |
52 |
70 |
100 |
45 |
+18 |
+48 |
-7 |
55 projects |
| Revenue Y1 (EUR) |
€674,000 |
€922,000 |
€1,668,600 |
€466,240 |
+€248K |
+€995K |
-€208K |
€1,202K |
| EBITDA Y1 (EUR) |
€89,267 |
€337,267 |
€1,083,867 |
-€118,493 |
+€248K |
+€995K |
-€208K |
€1,202K |
| EBITDA Margin Y1 (%) |
13.3% |
36.6% |
65.0% |
-25.4% |
+23.3pp |
+51.7pp |
-38.7pp |
90.4pp |
| Exclusive Mix (%) |
30.8% |
25.7% |
30.0% |
17.8% |
-5.1pp |
-0.8pp |
-13.0pp |
12.2pp |
| Two Mix (%) |
69.2% |
74.3% |
70.0% |
82.2% |
+5.1pp |
+0.8pp |
+13.0pp |
12.2pp |
| Debt/EBITDA Y2 |
2.1x |
1.3x |
0.5x |
3.5x |
-0.8x |
-1.6x |
+1.4x |
3.0x |
Risk/Upside Matrix
🟢 Best Scenario
- Revenue: +147.5% vs baseline
- EBITDA: +1114% vs baseline
- Risk: High execution complexity, partner capacity
- Upside: Strong profitability, fast break-even
🟡 Basic Scenario
- Revenue: +36.8% vs baseline
- EBITDA: +278% vs baseline
- Risk: Balanced growth, manageable execution
- Upside: Solid profitability, controlled scaling
🔴 Worse Scenario
- Revenue: -30.8% vs baseline
- EBITDA: -233% vs baseline (negative)
- Risk: Cash burn Y1, delayed break-even Y2-3
- Mitigation: Cost reduction, focus on Exclusive mix
Multi-Year Impact (Y1-Y5 Projections)
Cumulative 5-Year Performance:
- Baseline: €5.5M revenue, €2.3M final cash
- Basic: €5.8M revenue (+5.5%), €1.95M final cash
- Best: €7.2M revenue (+30.9%), €3.1M final cash
- Worse: €3.1M revenue (-43.6%), €0.8M final cash