BUSINESS IDEA | STARTUP

AI Co-pilot for Parenting 👶  

Baby got app

Available Domain: Cotcoach.ai

1. Problem/Opportunity❓

The Problem/Opportunity: Becoming a new parent is an amazing experience. It’s like standing at the edge of an active volcano…awe-inspiring, amazing, but terrifying at the same time. Ask anyone who’s done it before.

First time parents will try to read as many parenting books as they can, but there’s no substitute for having a newborn expert on call 24/7 to help you with any questions as a new parent. And with AI, we can create exactly that. Here’s how.

Market Size: Around 3.5m new babies are born each year in the USA and the global parenting apps market was valued at $465m in 2023

2. Solution ✅

The Idea: An AI-powered app designed to help new parents to adjust to life with a newborn baby

How it Works:

• A new parent signs up to the app and shares basic details about their child

• Using the app the parent can log (in as much detail as they want) nap-times, feeding times, meals etc. The AI can then take this data to infer when the best time for the child is to nap, what foods do/do not upset their stomach etc.

• Based on the age of the child the app prompts the parents to do certain activities with the child, like tummy time or start potty training for example. It also tracks any major public health appointments or milestones for the child over time

• The app also has a chatbot feature where the parents can ask any questions they have at any time

Go-to-market: Set up a landing page outlining the features of the app, do some targeted ads on FB and build a waiting list. Then build and launch.

Business Model: This should be a subscription business. The data on the app should not be sold or used in any way given the sensitivity of it, hence a subscription model

Startup Costs: You could likely get this off the ground as a GPT wrapper to test the concept, then build a fully-fledged app

3. How You’ll Get Rich 💰

Exit Strategy: This could be acquired by a pregnancy tracking app, like Flo, as a natural extension of their product range

Exit Multiple: Based on recent digital health exits and AI company valuations you could get a great multiple here, think 10x - 15x revenue

TOGETHER WITH GAMMA

An entirely new way to present ideas

Gamma’s AI creates beautiful presentations, websites, and more. No design or coding skills required. Try it free today.

DRUNK BUSINESS IDEA

Procrastination Pro

There are so many apps out there focused on productivity and efficiency. But what about people who want to go a completely different direction and waste as much time as possible?

Well the Procrastination Pro app does exactly that. It creates a to do list of tasks to do that will ensure you don’t get any important or meaningful work done in a day.

Because the best time to get to work is always tomorrow…

JUST THE TIP

Trend 📈: Pimple Patches

Pimples suck. And just like unwanted house guests they always seem to show up at the worst possible time. Which is why pimple patches have taken off in popularity in recent years. They’re small adhesive patches made of hydrocolloid, a gel-forming material that's also used in wound dressings, that you place directly over a pimple to help treat it. Pimples are a pain point for many of us, and where there’s pain, there’s opportunity.

Business Ideas

• Skin Quality Tracking App: An app which tracks how good your skin is over time and upsells pimple patches to remove spots

• Custom Pimple Patches: A service which creates custom pimple patches which match the tone of your skin

TOGETHER WITH BELAY

Accomplish More. Juggle Less.

When you love what you do, it can be easy to take on more — more tasks, more deadlines, more hours – but before you know it, you don’t have time to do what you loved in the beginning. Don’t just do more – do more of what you do best.

BELAY’s flexible staffing solutions leverage industry experience with AI systems to increase productivity without sacrificing quality. You can accomplish more and juggle less with our exceptional U.S.-based Virtual Assistants, Accounting Professionals, and Marketing Assistants. Learn how with our free ebook, Delegate to Elevate, and leave the more to BELAY.

Download now

THE MONEYSHOT

How a Hairdresser Sold his Business for £70m

Innovation can come from anyone, anywhere, at any time.

Take this founder who left his hairdressing career behind to sell his business for £70m.

This is his story.

Shaun Pulfrey is not your typical entrepreneur.

He didn’t drop out of Stanford like so many founders we’ve seen before. No, Shaun left school in the UK with no formal qualifications at all.

Instead of going to college, much to his father’s dismay, Shaun chose to pursue a career in hairdressing, starting as a hair colorist in 1978 and training in Manchester for two years before moving to London to further his career.

Shaun went on to work at several prestigious salons, including Pierre Alexandre, Toni&Guy, Nicky Clarke, and Richard Ward and became the "go-to guy" for detangling hair.

He spent years perfecting his craft which is when in 2003, he had an idea. He began researching and developing his idea for a detangling hairbrush, living up to his reputation. His goal was to create the world's first professional detangling tool, and he was the man to do it.

But he needed money to get his venture off the ground, so in 2005 Shaun remortgaged his flat in Brixton, London for £25,000 to finance the product launch.

He took a huge risk and finally in 2007 after 4 years of research and design he was ready to launch.

He launched the Tangle Teezer.

That same year Shaun appeared on the UK’s version of Shark Tank, called Dragon’s Den, for those unfamiliar. Unfortunately though the Dragons thought it was a hair-brained idea (nice) and Shaun walked away with nothing. Except…he didn’t.

When his episode aired Shaun received 1,500 orders instantly, which crashed his website. This was the validation his idea needed. People wanted his product.

The following year in 2008 Boots (a major UK beauty chain) began stocking the product, something unheard of for such a new brand. That year revenue hit £500k.

The company's growth continued rapidly, with sales hitting £2.2 million in 2011 and expanding to £28.6 million by March 2016, with the product entering 70 international markets and celebrities like Victoria Beckham, Emma Watson, and Nicole Scherzinger all endorsing the product.

By 2021 revenue hit £43.5 million and finally in July 2021 Mayfair Equity Partners acquired a majority stake in Tangle Teezer for approximately £70 million. Shaun had turned an idea and £25k into a life-changing outcome. Amazing.

While most of us won’t go out and start businesses in the haircare market, the lesson here is that great ideas and great entrepreneurs can come from anywhere. You don’t need to be a coding genius to make millions, you can be a guy who just wants to help people to detangle their hair.

So keep your eyes peeled. You could be a hair's breadth away from your big idea.

1 - 1 FOUNDER FEEDBACK

We Need Your Help

We're on a mission to become the world's #1 entrepreneurship newsletter, but to do that we need your help. Got feedback, ideas, or thoughts on what you’d love to see next? This is your chance to help shape Half Baked. Darragh (our Head Baker) is opening up his calendar just for you. Click here to book a 15 minute call.