They did it in the medicinal cannabis space. They created the most successful hyper-local finder site for medicinal cannabis dispensaries in the world, generating more than $15 million in annual revenue with very attractive margins, controlling over 80 percent of the listing space, and they did it in less than two years. After selling that division for a pretty penny at the end of 2012, they’re now creating seven new content rich, hyper-local finder sites for seven different industries. And each industry is at least five times the size of the medicinal cannabis space. You do the math.
Their formula is relatively easy to follow, yet challenging to duplicate, unless you know what you’re doing. And management at SearchCore knows exactly what they’re doing. They identify niche, underserved markets that have a market value greater than $250 million, and if they believe they can generate at least $500,000 per finder site, per year, after the first year, and can become the number one or number two site after one year, then they go full throttle to dominate. SearchCore’s five year goal? To have 50 hyper-local finder sites in 50 niche markets.
Tattoo.com is the beginning of the next phase of their journey. The site focuses on driving traffic to its clients, in this instance, Tattoo shops, by providing in-depth, content rich information about their client in a user-friendly fashion. It’s like the Yellow Pages and Yelp on steroids. Outstanding graphics, videos and tattoo shop profiles are making Tattoo.com the number one finder site in the tattoo space.
And as required, the industry is huge, lucrative and virtually untapped. The tattoo industry is the sixth fastest growing industry in the U.S., it’s searched 16 million times per month in the states and 60 million times per month worldwide. Money spent in the tattoo industry is approximately $2.5 billion annually. And there are over 100,000 tattoo shops and artists nationwide. Since the Tattoo.com re-launch in late February, SearchCore has brought on 350 monthly re-occurring subscription based clients (tattoo shops) as stated in their press release from July 8. And after speaking with the company, they are now consistently boarding, on average, 150 new paying clients per month. As a result of their successes, they’re beginning to board prominent service providers for a monthly fee. In short, they’ve entered into a fragmented industry and in a very short period of time and have become the nucleus of all things related to Tattoo’s. Smart move. And it looks like this is just the beginning.
Next up? Manufacturedhomes.com. Though the company won’t go into specific details, they do expect to soft launch Manufacturedhomes.com in July. On the surface, manufactured homes is perhaps not the sexiest industry, but SearchCore is all about capitalizing on niche, profitable markets. And the manufactured home industry is another one that fits all the requirements. Over $3 billion in annual sales, no real competition, a fragmented and disjoined industry that is ripe for a cutting edge finder site. And the timing is perfect. The real estate market is back, manufactured homes are arguably comparable to stick-build homes and consumers are again in the marketplace looking to buy. What better place to go than to Manufacturedhomes.com. And as a side note, SearchCore’s management team has a combined 90 years of experience in the manufactured and modular home industry. 90 years. They know this industry inside and out.
What will the site offer? Besides being a content rich, hyper-local finder site for all factories and retailers in the industry, it will also provide their clients with proprietary point of sale and CRM software, all in one package. And SearchCore anticipates driving additional revenue by marketing to industry service companies such as realtors, mortgage brokers, and escrow and title companies.
What’s on the horizon? The recreational sports industry with Sportify.com was approved at the Apple Store several months ago, while Modularhomes.com, Karate.com, Rodeo.com, and Traveltrailer.com are in the planning stages. Each industry satisfies the core requirements and is in SearchCore’s wheelhouse, and if management executes in these new industries as they’ve done in the past, well, you do the math.
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