Ellie Horvath
Jonathan Lukas of Boof.
Tell us about yourself?
I am the Co-Founder and CEO of Boof (BOOFAPP.CO.UK), a financial-technology startup based in London. At Boof our mission is to modernise and transform massive treatment-based industries to allow friendlier and more convenient booking, payment spreading and even cryptocurrency payments.
Not only are we making bookings and payment spreading easier, more simple and fun – we’re modernising enormous industries, with the hopes of making well-deserved treatments more affordable and widely accessible through BNPL.
What lessons has being an entrepreneur taught you?
To be disciplined – and to treat all people fairly, no matter what position they hold on the hierarchy.
If you could go back in time to when you first started your business, what piece of advice would you give yourself?
To be disciplined – and to treat all people fairly, no matter what position they hold on the hierarchy.
A lot of entrepreneurs find it difficult to balance their work and personal lives. How have you found that?
Of course; it’s something I think all entrepreneurs will come across one day – however balancing your work and personal lives, is a decision you make – that decision will determine your prospects of success.
Give us a bit of an insight into the influences behind the company?
At Boof our mission is to modernise and transform massive treatment-based industries to allow friendlier and more convenient booking, payment spreading and even cryptocurrency payments.
Not only are we making bookings and payment spreading easier, more simple and fun – we’re modernising enormous industries, with the hopes of making well-deserved treatments more affordable and widely accessible through BNPL.
What do you think is your magic sauce? What sets you apart from the competitors?
We are the introducing BNPL into these industries; something that has not yet been implemented – with a goal of making well-deserved treatments widely accessible and more affordable.
How have you found sales so far? Do you have any lessons you could pass on to other founders in the same market as you just starting out?
Since we are still in our early stages, things are yet to rocket – however I can say that we have come a long way – evidently. Some things to fall into place, as forecasted – however the majority of things will not fall into place, and will need some rotation or minor amendments; and that’s where I say keep going, don’t give up – just because something isn’t working out, doesn’t mean you need to start on something new – add some rotation or minor amendments.
What is the biggest challenge you have faced so far in your business, and how did you overcome it?
Funding has been the biggest issue, since we’re involved in a massive financial part of ‘finance’ which is full of controversy. BNPL and Cryptocurrency are both controversial area’s for VC’s, hence why it was so difficult to secure initial funding.
Because of this, growth was our main priority – and so we eventually secured over 10,000 users and over 1,300 businesses – ultimately helping us secure funding as there was evident traction.
What do you find are the advantages of operating your business in London?
London is very saturated (in terms of population), which is good and in some ways terrible. From a business point-of-view, it’s heaven.
Are there any issues with having a London based business? Have you experienced these?
I wouldn’t say there are serious issues; there are of course rules and regulations governing almost every area of conduct however you must find a way around this (where possible), which is something that definitely hinders a business’ operations, however you must always find an alternative direction, this can’t completely place operations on a halt.
How has the higher than UK average cost of living impacted your ability to work and live in London and how has this also impacted your ability as an employer?
Fortunately I have not been affected, as much as other people have been; it’s a terrible financial plague affecting every single hard working individual on this island.
If you had to relocate your business to another city in the UK, which one would it be and why?
Our whole venture doesn’t rely on a specific region, so it’s not a matter of relocating and rather expanding/scaling up; Manchester would be ideal since this is another big area of the country.
How has BREXIT impacted your business (if at all)?
BREXIT hasn’t affected us in anyway fortunately.
What is your vision for your company in the next 5 years?
Within the next 5 years, we want to have over 50,000 businesses operating on our platform, facilitating almost 100,000 bookings every day.
Scaling across all continents, we aim to make well-deserved treatments and experiences widely accessible to all.
At Boof our mission is to modernise and transform massive treatment-based industries to allow friendlier and more convenient booking, payment spreading and even cryptocurrency payments.
Not only are we making bookings and payment spreading easier, more simple and fun – we’re modernising enormous industries, with the hopes of making well-deserved treatments more affordable and widely accessible through BNPL.
And finally, if people want to get involved and learn more about your business, how should they do that?
The best place to find us is at boofapp.co.uk and on LinkedIn. We’re always looking for creative minds to join us on our journey.
