1. Building a location-to-location financial model
We began with a detailed review of the flagship club, breaking down membership mix, spending patterns, event revenue, payroll, and fixed costs to understand the underlying economics of the model.
Using those findings, and adjusting for local real estate costs, wage levels, and demand assumptions, we built a bottom-up model for the second location. This gave management and the family office a more realistic view of the capital required, the expected ramp, and the likely path to breakeven and cash generation.
2. Designing a more flexible capital approach
Once the economics of the new site were clearer, the next challenge was funding the build-out without overleveraging the balance sheet.
To address this, we designed a Founder Membership structure that offered a limited number of early members an equity position together with participation in future cash flows in exchange for a substantial upfront commitment. The aim was to create a funding mechanism that matched the brand’s exclusivity while broadening the capital base beyond conventional debt or sponsor capital alone.
3. Turning investor interest into commitments
To support fundraising, we worked with our affiliated marketing agency, Folmia, to create a more complete pitch package. This included materials designed to combine financial clarity with the emotional appeal of the club’s design, community, and curated experience.
The goal was to make the proposition easier to communicate across investor meetings, one-to-one discussions, and broader outreach, while ensuring that the growth story remained grounded in a disciplined financial case.
4. Supporting execution through ongoing review
As the project moved forward, we remained involved through monthly management reviews with Coterie’s leadership and the family office. These sessions tracked construction milestones, procurement costs, and Founder Membership commitments against the model, allowing the team to identify variances early and make adjustments where needed.
This review cadence helped keep the project tied to the original business case and gave stakeholders a clearer basis for monitoring progress as the second site developed.
