Headquarters: San Francisco, California
HoneyBook develops a client management software that is geared towards small businesses in creative industries such as photography, web design, and wedding planning.
By combining tools like invoices, contracts and project management features all in one place, HoneyBook helps service-based small business owners manage, streamline and scale their business with less legwork.
Whether it’s capturing leads, building on-brand brochures or easily processing payments, HoneyBook has the capabilities to do it all so that business owners can spend less time on administrative tasks and more time practicing the craft they love. HoneyBook supports independent service-based businesses with the tools they need to be successful.
HoneyBook's all-in-one platform helps independent businesses stay organized and look professional by streamlining client flow, managing cash flow and helping customers with client communications and payments. Its customers, which include web designers, photographers, and florists among many others, also use HoneyBook's capital product to apply for loans, which come with no late fees.
HoneyBook operates a SaaS business model by selling its cloud-based client management software on a tiered pricing model, making money through paid subscriptions and transaction fees charged to the clients of SMBs (small- and medium-sized businesses) that use HoneyBook.
HoneyBook’s has a tiered pricing model: Starter Plan - $9/month, Unlimited Monthly - $39/month, and Unlimited Annual - $390/year.
HoneyBook currently receives processing fees of 3% for credit card payments and 1.5% for bank transfer payments. According to a PayPal study done in Canada in 2017 and HoneyBook, “businesses accepting online payments make 2x more than those who don’t.”
HoneyBook is also building city-based communities of professionals based upon shared business relationships, with the goal of enabling a robust online marketplace among professionals who often collaborate for specific clients. HoneyBook’s “Rising Tide” consists of a small business community of 50K+ active members in 475 local chapters around the globe.
The pandemic has triggered small businesses to quickly adopt online tools to support growth and created an uptick in demand for HoneyBook’s services.
93% of HoneyBook members say they would recommend the Company’s software to a friend.
Since its founding, HoneyBook has seen $5 billion in business booked on its platform, $1.8 billion of which occurred in 2021 alone, according to Venture Beat. In 2021, annual recurring revenue more than doubled.
HoneyBook recently launched HoneyBook Capital to give its customers an easier way to get credit than going the traditional route. HoneyBook charges a single fixed fee for the loan, with no periodic interest charges, no monthly bills, no late fees and no prepayment penalties. Funds are deposited the next business day after the agreement, and a percentage of client payments are automatically put towards the loan repayment until it’s complete.
HoneyBook was recently listed in Crunchbase’s “30 Startups We Think Could Go Public In 2022,” indicating that the Company could be preparing for a potential IPO as media outlets continue to comment on the Company’s opportunity to benefit from the “Great Resignation.”
HoneyBook recently ranked #17 in Fortune’s 100 Best Small Workplaces.