Car Monitoring & Control App | $1.1M ARR | 9K+ Reviews | YoY Growth
Asking Price: | $1,986,000 |
Gross Revenue: | $869,400 |
Cash Flow: | $553,841 |
Established Year: | 2021 |
The business offers an iOS application designed to provide users with a seamless way to monitor and control various aspects of their vehicles. This innovative app allows users to access detailed information, such as engine oil life, fuel and battery levels, odometer readings, tire pressure, and other vital metrics, without requiring additional hardware. By leveraging Smartcar's API, the app ensures secure and efficient connectivity with numerous car brands, including popular names like Tesla, BMW, Toyota, and many others. Since its launch in May 2022, the app has seen consistent growth, boasting over 50,000 monthly installs over the past six months and maintaining a high user satisfaction rate with a 4.5-star rating from over 9,000 reviews. With a monthly recurring revenue (MRR) of $98,853 and an annual recurring revenue (ARR) of $1,186,232, the business has established a solid subscription-based revenue model. User acquisition strategies effectively combine organic growth and paid advertising, with organic channels contributing 60% of new users.
The app stands out due to its broad compatibility with over 40 car brands and features like a "garage" functionality for multi-car households and a dashboard reminiscent of CarPlay for vehicles without built-in screens. The business is supported by a skilled team, including two founders with expertise in iOS and backend development. The current owners are offering full support for a smooth transition to new ownership. This opportunity presents a scalable business poised for further growth with investment in paid advertising and additional user acquisition strategies.
Key Highlights
• The business is a highly rated vehicle monitoring app with 4.5 stars and over 9,100 user reviews, ensuring strong customer satisfaction and credibility.
• It boasts impressive financial performance, with a Monthly Recurring Revenue (MRR) of $98,853 and an Annual Recurring Revenue (ARR) of $1,186,232, driven by subscription-based revenue with no ads.
• With over 50,000 installs per month and a user base that is 60% organically acquired, the business demonstrates strong market demand and efficient customer acquisition.
• The app supports over 40 popular car brands, offering features like fuel and battery monitoring, odometer tracking, and tire pressure recommendations without requiring additional hardware.
• Developed using advanced technologies like Swift for the app and Python with FastAPI for the backend, the business utilizes robust analytics and marketing tools such as Firebase, Adapty, and AppsFlyer.
• Significant growth potential exists through paid advertising channels, with competitor benchmarks showing potential monthly revenues exceeding $300,000.