For my business idea, I'm going with CarTalk. The mobile app that leverages LTE, Bluetooth, and hands-free personal assistants to send short commands to nearby accepting drivers in order to alert them of functional issues related to their vehicle that they may not have seen.
It's a risky idea. People don't like to be micromanaged (see back-seat drivers) so making a product like this popular will be the biggest struggle. It'll be hard to get customers to adopt CarTalk. That's why the pricing for my product will be free.
As with any big name utility or social media app, they're listed as "free" on the market. This is to draw consumers in and get them using the product first. There are more times than I can count where I was scrolling through the App Store for a new game to download and chose to pass on the higher-quality ones because they were 0.99 cents.
To get users on my app, it will need to be free. Especially at first, my biggest priority will be building a user-base. Now you may be asking yourself, "Connor, how will you make money then? If CarTalk doesn't cost anything then what's the point?" I'm glad you asked, my thoughtful and caring reader. How do the Facebooks, Twitters, and Wazes of the world make their money? Hidden costs!
Although the face price will be $0, my profits will come from various channels. "Plus" versions that allow for more options of communication. Pairing deals with insurance companies that lower your rates the safer you make the road. Stickers and magnets to show your support and use of CarTalk. The biggest money maker though will be the price in which CarTalk sells the data collected. After a grace period in the beginning to allow the accruement of information, that database will be highly valuable.
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