Back in 2006, Dave Wadley was going through the agonisingly complex exercise of trying to get his internet connected after moving into an apartment.
In a moment of pure insight born out of the frustration at waiting around for technicians, having to obtain a modem, going through credit checks and trying to deal with a one-size-fits-all internet plan, Wadley conceived boutique internet service provider Gigafy, the company he’s helmed for more than a decade now.
Gigafy provides high-speed internet to residential buildings. Servicing high-rise buildings and townhouses around the world, it’s a walk-in-and-connect solution for those who want super-fast internet and no hassle.
In essence, Gigafy provides an internet connection to a building, then installs and connects cabling to distribute that internet connection to a wireless router in each unit.
When a prospective tenant or owner moves into an apartment, their internet connection is ready to go.
Super fast, super simple—it’s a compelling tagline that neatly and accurately sums up the Gigafy experience.
As anyone who has waited for a technician to show up in a six-hour window on their fourth visit can attest to, Gigafy’s simplicity is a delight for the consumer.
As a value-add exercise, though, Gigafy is a two-way street: the brilliance of this operation is not only that it addresses a fundamental problem in Australia’s largely ageing and outdated internet infrastructure, but that it offers this service as a revenue stream for property developers.
By paying for the installation of Gigafy into a residential venue, particularly for build-to-rent enterprises, the property developer then manages the internet as an income stream by on-selling the internet to residents.
Control of the pricing mechanism for the internet is set by the developer and informed by location-specific standards and standardised packages from Gigafy.
Inclusive of operating expenditure, most venues earn three to four times their initial investment within the first five years—and even in light of alternative services being on offer, Gigafy has an average take-up rate of 80 per cent in its buildings.
On the topic of operating expenditure, it’s worth mentioning software and customer support, because while Gigafy is supremely easy to use with no extra required equipment, lock-in contracts, set-up technicians or fees, undoubtedly there will still be times when customer support is needed.
It will come as an immense relief to property developers that Gigafy manages all ongoing customer support and billing structure.
The software and cabling they use is entirely their own— developed, installed and maintained by Gigafy—and they make sure it is smoothly and easily accessible for users at all times.
Local technicians are maintained (you might have seen their bright yellow fleet around town) to ensure speedy response times if ever required.
Using existing cabling isn’t a tenable proposition, because other providers charge a flat fee for access, so removing this ongoing cost entirely by using Gigafy’s own cabling means significantly more profit per connection.
Gigafy is a crucial point of difference in a saturated market, and it also generates significant monthly revenue for venue management.
The end result is, put simply, a win-win: a tenant’s hassle-free internet experience is the developer’s increased bottom line, in an elegant intersection of consumer and provider.
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