17A - Elevator Pitch No. 2

1. The pitch

https://youtu.be/lpedYFjcK3I

-The problem: hot and cold temperatures are uncomfortable and destroy the value of cars overtime
-The solution: automatic sunshade that is connected to the smart key and a mobile application, similar to a smart home thermostat. I even saw that Ford has developed cars with personal hotspots which would aid this platform. Furthermore, the app would allow you to pre-cool or heat your car in advance with a timer.
-Typical customer: 30-50 years old, males and females with cars over $30,000 in value that live in places that are hot or cold and do not have garaged parking full time
-Market size: there are 263 million registered cars in the US. The average new car price is $34,000 but I am assuming 25% of all cars are worth that today. That leaves 65 million, but perhaps only 50% of those cars are in places that aren't garaged or temperate leaving us with 32 million cars. Assuming we can obtain 25% market share at $300 a sunshade that would be a market share of $2.4 billion out of $9.6 billion domestically.
-Other uses: in home sunshades, airplane shades
-Strategy: Develop a good aftermarket sunshade to sell for $300 but also develop relationship with a car manufacturer like BMW to get in new models to expand business quickly.

2. Feedback reflection
I got one comment on my last pitch that said the idea made logical sense but needed more explaining. Specifically he was wondering if it was related to a smart thermostat in the house and if the sunshade would be connected to the app.

3. What I changed
I changed my pitch by saying it is similar to a smart thermostat in that it connects to the app and relies on technology. I am not a great tech guy but the BMW's I know of have smart keys that could easily connect to the sunshade and the app could connect to the BMW to circulate air beforehand. There is a feature to do that know but you have to set it up in the car and not on an app.