Why do you have to drive all over town just to get three estimates to fix your stupid dent?
“Jeepers! You want howmuch just to fix mydinged door?”
“Hah!” In the year 2011 why on Earth wouldn’t you use the Internet to help you shop for car repair? Save TIME and MONEY with
With DentBetty, simply: 1. Upload a couple of photos of your car’s cosmetic damage. 2. Receive up to 7 competing estimates by email. 3. Select an estimate and schedule an appointment – from the comfort of your own home!
World’s #1 Virtual Hub for Cosmetic Repair Estimates By Photo “Internet Photo Estimates” “Car Botox”“Bodywork Bidding Marketplace” “It’s Telemedicine - for your car!” “Our mission: De-dent and delight!” “Love Your Ride” DentBetty: The Online Leader in Car Cosmetics
I ncredible Convenience Best Prices Top Quality Service
Easy Lead Gen Blazing Fast Estimates Higher Customer Satisfaction Cost Effective Manner to Embrace the Internet
Neutral, Fair Marketplace ompetition limited to 7 bids max (only 3 nearby) C re-Screened leads, inappropriate photo filters, spam P filtering, volume processing. Leverage state of the art technologies across participants Marketing leadership. “Got Milk” for cosmetic repairs. nline Reputation Repository & Independent audit OThe Internet is here today – Consumers are demanding this convenience. DentBetty is a profitable way for shops to embrace progress.
Total Collision Repair: $36 billion Paint and Body: $10 billion Cosmetic Repairs Only (out of pocket): $3-5 billion Fragmented: --40,000 total shops --85% family owned --75% do < $1 million revenue. --Largest chain (Maaco) = 500 stores 127 physical estimates/month/avg shop 30 minutes to make a physical estimate Average ticket is $2,000 240 million Cars; Average age = 9 years
Transaction Fees $10 - $50/winBettynet $50k/monthSponsorshipsWWW On scaleSponsorshipsFBRS $7.95E-Commerce variousProduct A $1995 eachProduct B $89 each
Average Repair Cost: Assume $1,000 on DB Value of a Lead: $1,000 @ 5%=> $50 + $10 Estimated NPV of additional revenue => $60/user implied economic opportunity
Medium Acquisition cost/customerPartnerships (insurance $0companies, car washes,automobile associations,fleets, etc.)Search engines Not yet implementedSWAK campaigns $100 and decliningTraditional Media (radio, Not yet implementedprint, TV)Word of mouth, Press $0
2011/2012 - - Phase 1: “EMBRACE” Refine & iterate launch services Build out channel to thousands of shops Grow consumer brand recognition Establish ongoing channel partnerships Modest revenue Angel cash burn: $2M over 18 months 2012/2013 - - Phase 2: “EXTEND” Bolt-on products and services Multiply throughput Network effect => Geometric revenue growth Breakeven operating basis possible: June 2013 VC Series A: Scale up profitably
"DentBetty is easily something we could see becomingvery popular among car owners." (9/30/10)
2008 Inception 1st investor Prototype Build 2009 Launch: SF and Boston 99 shops in the network Over 300 repair 2010 estimates • V2 live in 4 major markets Closed seed round (Boston, SF, LA, NYC) ($500K@$2.5M pre) • 150 shops • 1000 repair estimates • 2 partners interested • Premium version launched • Modest revenue • Angel Round
RAMP UP2011 Development Goals 2011 Market Milestones Brand scrub Bettynet 1000: 50+ Complete v3 & polish shops in 20 major markets Transaction Ledgers 500 Referrers (25 in E-Commerce each market) Sponsor Module 72 Sponsors Sudsnet 60 Car washes FBRS 20 B&E campaigns Mobile Radio trials Prototype A or B 2 partners signed
Andrew Mann, Founder and CEO Alec Murray, President and COO Noel Vaughn, Lead Developer Jim Jordan, VP Business Development Paul Cicerone, VP Sales Thomas Christenson, Brand Evangelist Amy Lee, TAB & Oversight Kelly Wilson, TAB & Oversight Grant Erickson, Nuovations, Board David Goldenberg, VLP, Counsel Patricia Yee, Hall & Yee, Accounting .
$2 million raise at $5M pre-money Use: Grow headcount to 10 FTE Roll-out Network and Profit Engine Complete requirements for Series A 5 Year Path to 10x ROI: 10,000 shops @ $2,000 per shop per year = $20M Recurring Revenue; rapid growth rate & high margin 3x multiple on Revenue = $60M Comparable: RepairPal post $4M Series A = $70M (11/10) Upside: Bolt-on revenue & 2nd category Exit strategy Use cash flow to buyback stock, or Sell to…
Video of auto body shop owner Video of consumer