Like many start-ups, we started with an idea and later discovered a much bigger market.
We started out developing a recurring task management SaaS for franchising, focusing on fast food and 24hr gym chains. taskout’s alpha and beta versions were developed with two leading USA brands, Domino’s and Anytime Fitness.
We then showed our beta product to executives in six leading fashion retail brands. They were impressed, but pointed out a range of things we would need to add to suit that global niche. Three of those brands are open to collaborating and providing ongoing feedback on product development, to make sure the next release delivers precisely on the needs of small and large format retail.
We have now completed the minimum-viable-product for franchising. That product is ready to be sold into Australia, UK, Asia and USA markets. We started sales in January and we have positive interest from 6-8 premier brands in Australia and the UK.
Once we achieve positive cash flow, we will focus on developing the next release for retail as that market is far more scalable than franchising. For example, each client brand in small format retail has 2-3 key decision makers that operate 250 to 10,000 similar or identical retail stores across multiple time zones.
Leading technology companies in the task management and social enterprise space range in valuations from US$425m to $3.8bn. These companies have generic offerings that primarily target B2C and SME markets. taskout will be a B2B niche SaaS offering for corporate retail; initially fashion retail, later adding bottle shops, service stations, mini-markets and large format retail.
We are currently raising up to US$750k at a pre-money valuation of US$2.75m. The first US$100k of these funds will achieve positive cashflow and favourable SaaS growth metrics. We forecast the US$750k will build taskout to a US$500m to $1bn valuation within 5 to 7 years.
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Philippines · Australia · Spain,
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