I edited a business plan for a Gen Z home buyer service

The buyer was developing a home buying solution specifically directed at the growing Gen Z market. He had a business plan, but wanted me to proofread and edit it to help make sure his message was clear and strong. I performed a complete line edit, as well as improving the clarity of sentences, and strengthening the marketing message.

Here's what the client said about the editing I performed:

⭐️⭐️⭐️⭐️⭐️ "Dan is the man! It was so wonderful getting to work with him. His services is exactly what my company needed to be ready for fundraising. He delivered high-quality work and was very professional."

Here is the first portion of the edited business plan:

1.    Executive Business Summary

a.     Introduction

Hōmbaez, founded by Co-founders Nikolas Mercado, Peter Mercado, and Patrick Sprouse, is the first real estate marketplace which targets younger generations. The Company offers a new home search platform that aligns with the values and purchase methods of young shoppers to make the dream of homeownership a reality.

The Co-founders bring a wealth of expertise to the company. Nikolas and Patrick boast a combined 30 years of real estate brokerage and PropTech experience. Peter brings over ten years of software engineering experience to the company. Hōmbaez aims to make home-buying accessible, and thereby increase homeownership in younger generations.

b.     Problem Statement

The housing economy will collapse if we don’t make home-buying an opportunity for upcoming generations.

First-time home buyers account for 1.301% of the annual GDP, and 74% of the Gen Z demographic plans to buy a home over the next six years. Available home search platforms do not meet the needs of these upcoming buyers, who face multiple challenges in buying a home, such as high mortgage payments, high home prices, inflation, accumulated student debt, low inventory and income.  Gen Z will follow the three-decade trend of declining homeownership that substantially impacts each successive generation.

c.     Solution

Hombaez built the first home marketplace for younger generations that provides tools to help users navigate their generation's challenges, sense of identity, and purchase a home. Hombaez makes home buying more accessible and increases home ownership for the Gen Z market.

1.    Context, Idea, and Rationale

Context

Function

●       Uncovers user purchase power

●       Helps younger buyers identify homes to purchase

●       Provides detailed, easy-to-read information on home search results

●       Personalized / Customized search mechanism

●       Revenue from ad sales connects users to mortgage providers

Features

●       Search to Shop-by-monthly-mortgage-payment 

●       Home Browsing by Swipe Search

●       Search Utilizing a Search-Party Team

●       Property Ratings and Comments

Idea

Home Search Platform

●       For younger home buyer generations (Gen Z & Millennials)

●       Aligns with target market values and search methods

●       Offers financial transparency and information about affordability 

●       Calculates and displays the total monthly carry cost of each home, utilizing user's Down Payment and Interest Rate:

○       Mortgage Payment

○       HOA Fee

○       Mortgage Insurance

○       Home Insurance

○       Taxes

●       Users are able to identify homes within their budget

●       Shows users their purchase power

●       Gives real-time costs of ownership

Rationale

User

1.     There is no current home-search platform tailored to younger generations of potential home buyers.

2.     Younger buyers are highly interested in buying homes and must overcome generational challenges to attain homeownership.

Customer

1.     Mortgage providers seek a home marketplace that directly connects users to their services first.

User Needs

(Younger Buyers)

●       Homeownership (for Personal or Investment purposes)

●       Market discovery of one's budget

●       Financial transparency

●       Personalized search

●       Quick communication and exchange of information

●       Ability to compete with other offers

●       Increased flexibility and choice

Customer Needs

(Mortgage Providers)

●       Direct exposure to first-time home buyers

●       High visibility ads

●       Direct connection to High-Intent Buyers

●       Higher conversion

2.    Mission Statement, Goals, and Objectives

a.     Mission Statement

Hombaez wants to make home buying accessible, and increase homeownership for younger generations.

b.     Goals & Objectives

Summer 2023

●       Secure funding

Fall 2023

●       Enhance cloud-based infrastructure

●       Connect MLS IDX Data

●       Expand software team

●       Hire marketing team

Winter 2023 - 2024

●       Launch Beta in Target Top 20 Metros

Spring 2024

●       Gain 100k Users

Summer  2024

●       Launch General Availability (GA)

●       Start App Monetization

Year 1

●       Generate revenue from ad sales within first year

Year 2

●       Expand service territory to cover all of US

●       Generate profit from ad sales between year 1 and 2

1.    Market Analysis

a.     Market Opportunity

Opportunity

There is currently no home marketplace which targets younger generations of homebuyers. Available marketplaces target older generations. There is an opportunity to capture, guide and connect younger generations of homebuyers to a new home search platform that aligns with their values and shopping methods. This platform will help younger shoppers navigate challenges, identify homes and purchase a property. This process will provide a pathway for younger buyers that aligns with their preferences and transitions more efficiently, as they go through their buying stages. This new marketplace will break the three-decade-long decrease in homeownership and make homebuying more accessible to younger generations.

Young Buyers Challenges

More than 74% of the Gen Z demographic plans to purchase a home in the next six years, but they face many challenges to that plan. These challenges include high mortgage payments, high home prices, inflation, accumulated student debt, low inventory and income. These challenges make owning a home difficult for younger generations, and data reveals they are on track to become the generation with the lowest per capita home ownership ever documented. The National Association of Realtors reveals that the average home-buying age is 36, the highest age on record! This new information estimates average buying time for the Gen Z demographic in the year 2032.

Current Platforms Don’t Cater to Younger Buyers

Current home-search platforms do not offer tools or information that align with the way younger buyers shop. Those platforms also lack the innovation to help younger buyers achieve their dreams of homeownership. Current home search platforms, like Zillow,

Realtor.com

The current home search platforms align with the habits of older shoppers, by leading them to view homes and connect with brokers in person. These platforms conduct financing after the discovery process. This path, set up by current home marketplaces, is a waste of time for younger homebuyers. The current process often leads to frustrations from missed opportunities, unforeseen costs, and pressures to make large financial decisions quickly. Consumers on this path, before they purchase, only have a vague understanding of the total monthly cost of the homes, and limited control of their sales options, which does not appeal to younger generations.

The Methods and Values of Younger Buyers

The Gen Z and Millennial demographics value saving time and money, and seek convenience, customization, choice, freedom, and flexibility. The available home-search platforms do not address the needs of these shoppers who face more challenges than older generations. Cost-conscious younger buyers don't want to be connected directly to an agent to view a home when they do not understand the finances. Younger buyers want choice and the ability to do their own research on who to use as their representative. Younger buyers don't want to waste time viewing homes they cannot afford, and do not want to be pressured by sales agents.  They seek more information, control, and freedom during the sales process, but without losing out on opportunities.

Gen Z and Millennials turn to technology for home-buying information, using Apps and social media to learn about products and services before they purchase. These groups rely less on Google searches and more on reviews and recommendations from their peers. The current home-buying platforms do not offer tools or insights that align with the shopping methods of younger generations. The methodology directed at older buyers does not align with the values of Gen Z and Millennials, making it harder for younger home shoppers to identify homes and make owning a home seem impossible.