Purple Pads started as a dream 3 years ago, I then started working with developers to develop the platform part time over the last 3 years.
We have developed the software to offer 95% of the features that the leading competitors offer, but at a massively reduced cost. The remaining features are based on data collected over the years to come.
We also offer a large number of other features that other competitors don't offer including but not limited to, council exchange properties, privately advertised properties and rooms to rent.
The leading competitor works on a 75% margin with a £ 267m turnover last year.
We will be looking to work on a 10% margin with profits returned to founding members and agents.
Estate Agents ideas will create our platforms roadmap going forward on a voting basis. Any agent will be able to post an idea and then others can vote and voice their opinion.
30% of the company will be sold in order to push this project forward, 30% will be given to founding estate agents that will help push this project to market and myself and the other founders will keep the remaining 40%.
All investors will be sent quarterly management reports.
We aim to sign 1000 agents a month up for the first 3 months increasing to 1500 in months 4-6, 2000 in months 7-9 and 2500 in months 10-12.
Our fees will be the lowest in the market place, the company will still make a healthy profit and dividends will be paid to all investors.