Beep Auto Service Finder Inc.

by MATT HORNE


LENDRS

0

FUNDED

$15000 (100%)

DAYS LEFT

Ended

Our Story


The price you book is the price you pay.TM

Every driver needs routine auto service, like oil & tire changes, battery service, windshield repair, or even detailing. Beep was created because the existing model for buying non-mechanical auto services is broken. Shopping around for the best time at the best price is slow and tedious, and drivers often pay more than they need to in added costs or just for convenience.

With Beep, drivers get the best price on a wide range of warranty approved auto services, immediately and with no up-selling. They can browse ratings from other Beep customers, choose the best location, time and price — then book it. All the costs are included: labour, parts and environmental/disposal fees.

Added value for service Providers

Beep Qualified Service Providers get new bookings and guaranteed prepaid customers, straight to their door. They can fill scheduling gaps, grow revenue, get free exposure and be paid quickly and directly by Beep. We also provide support on how to use Beep to create efficiency and sales.

How it works

Drivers use the Beep app to scan their payment and vehicle info just once. It’s as simple as using your iPhone camera to take a picture of your VIN bar code and credit card. The payment info is stored securely within the app, so booking and paying is immediate. Drivers know their time and price is set, while the service Provider knows they have a paying customer, and exactly what work they need to plan for through the VIN information.

Growing the marketplace

We're successful when more drivers use the app more often, which lets us offer more business to Providers, and in turn more options for price and convenience. It's a marketplace, where more activity means more value for everyone. To acquire more drivers and providers, we've built and tested colorful gas pump kiosks for retail locations. The kiosks let drivers sign up and book service, at a lower acquisition cost per user. On the spot and follow on bookings from the kiosks have created enough revenue to pay for the space rental, so we want to build more and grow the marketplace.

Using our Lift Loan

Our $30,000 Lift Loan will let us build 10 gas pump kiosks to place in retail locations. They'll help us grow our users, providers, and bookings.  Our long term goal is to build enough scale to become the Expedia of auto service. The gas pump kiosks and your support of our Lift Loan will help us get there.

 

Team


Jordan Gunderson

Jordan is responsible for Service Provider (vendor) business development, systems and management. Jordan is diligent, enthusiastic and tireless.

Mike Caley

Mike is a standout talent. Data-driven and persistent problem solver. Mike is know for efficiency and getting things done.

Matt Horne

Matt is the founder and vision keeper behind Beep. He keeps the team focused on building the marketplace, and delivering the service innovation to delight users while helping service providers be more efficient and profitable.

Lending Profile


About the Business

Beep Auto Service Finder Inc.
Bay 11, 6325 - 12th Street SE
Calgary Alberta T2H 2K1
matt@beepforservice.com

Beep Auto Service Finder Inc. is an Alberta corporation.

Key Personnel

Matthew Horne – Founder and Owner
Matt Horne has been an entrepreneur in the auto service space for more than 11 years. In that time he developed a successful business, as well as the relationships and understanding of the market that would lead to the creation of Beep for Service. Matt is a former Canadian national team athlete, Top 40 under 40 award winner in Calgary, and long standing member of the Entrepreneur’s Organization (EO), a global peer to peer network for entrepreneurs.

Description of Business

Beep Auto Service Finder is an online marketplace, connecting drivers to service providers through the Beep mobile app. Users book auto service through the app, choosing where and when they want the work done, all at a hassle-free fixed price. Service providers gain access to new bookings, along with the support and resources to drive efficiencies and revenue for their business.

Beep focuses on warranty approved, non-mechanical auto services that can be performed in under one hour, and need to be done several times per year. Examples include oil change, jump start and battery service, windshield repair, washing and detailing, and tire service. Users can browse service providers based on location, price, or service rating. The price on the app covers parts, shop supplies, labour and environment disposal fees.  Their registered trademark is ‘The price you book, is the price you pay’.

Available for more than a year on iOS for iPhone and iPad, the app currently has 23 Providers offering services in more than 100 locations primarily in Alberta and Saskatchewan. The primary revenue driver of the app is bookings. Users create a profile once, scanning their vehicle’s VIN, creating an account and linking their credit card to it.  After each service is completed Beep Auto Service Finder Inc. transfers the payment balance to the service Provider less the booking fee.  To date, Beep has achieved more than 33,000 service bookings from three initial service categories, without significant investment in marketing or promotion.

Use of Funds

Beep Auto Service Finder Inc. is seeking to raise a total of $30,000 through their loan on ATB LendR. Funds will be used to promote Beep to potential users and service providers through touchscreen kiosks in retail locations, or other methods as may be appropriate.

Terms of Lender Loans

Loans will have a term of 1 year (12 months), beginning after the loan is successfully funded. Beep Auto Service Finder Inc. will repay the principal plus 12% interest, calculated simply as the original loan amount plus 12%. For example, the full $30,000 loan will be repaid as $30,000 + ($30,000 x 0.12) = $33,600. Beep Auto Service Finder Inc. will make monthly payments of 1/12 the total repayment amount.

Beep Auto Service Finder Inc. has the option to repay the principal balance in full before it is due, subject to a fee if more than 3 months remain on the term. The fee will be the equivalent of 3 months interest. 

Risk Factors

Beep Auto Service Finder Inc. has been in operation less than two years. There are meaningful financial, operational, and market risk for any young business. There are also specific risks in its business model
• Beep’s success relies on consumers installing and using the app. It competes for distribution and use in a crowded app marketplace, and on the individual users device. Direct or indirect competitors may appear at any time.
• Beep’s marketplace has to satisfy the needs of both users and service Providers. Growing both sides of a marketplace is more complicated than a typical single market business, and brings the risk that a competing marketplace may build scale more quickly and win a dominant position.

Certificate

This Lending Profile does not contain a statement that, in a material respect and at the time and in light of the circumstances in which it is made, is misleading or untrue and it does not fail to state a fact that is required to be stated or that is necessary to make a statement not misleading.
Certified as of: June 20, 2016
By: Matthew Horne

 



Launched: 22-Jun-2016
Funding Ends: 21-Aug-2016
Amount Required: $15000
Term: 12 months
Interest Rate: 12%

Campaign Funded

Campaign by

Beep Auto Service Finder Inc.

http://www.beepforservice.com/
Calgary