Pick A Price Auto Corp
The Leapfrog Platform will enable the consumer to Find, Bid and Buy their next new vehicle online. Our target audience are millennials ages 18-35, who are very astute in researching prior to purchase online as well as performing a transaction online. These millennials represent over 50% of the new vehicles sales of which a typical vehicle will be in the range of $15k to $45k, averaging approx. $31k/vehicle.
The Leapfrog Platform is a virtual auto-mall showroom for consumers to view vehicles that are currently sitting on dealers lots within their target area.
The Leapfrog Platform is and will be integrated into the most popular Dealer Management and Vehicle Inventory Systems in North America.
Partner Dealers integrate into the Leapfrog Platform allowing their inventory to be viewed by consumers within their target area. The selling price for the vehicle is set by the Dealer once the inventory has been uploaded to the platform.
The Dealer and the consumer remain anonymous until after the transaction is consummated.
The consumer views both the Wholesale (Dealer Invoice) Price and the MSRP for the vehicles they are interested in.
Once the consumer is willing to go forward and place a bid, they must register a payment method whereby a $500 deposit can be taken once the bid price and selling price match.
Their is no cost to the consumer and there is no cost for the Dealer to become a partner on the Leapfrog.bid platform.
The Revenue model of $399/ transaction is when a transaction is consummated on the Leapfrog.bid platform and completed with the Dealer at their Dealership.
Our 2nd revenue stream will commence once the website gains stickiness whereby the analytics will attract advertising revenue.
The Platform is currently scheduled to go live in Calgary in November and shortly thereafter, Vancouver. We anticipate that our current funding will enable the Company to complete its “proof and revenue and business strategy” within the first six months of going live and then commence planning a national advertising and marketing campaign across the rest of Canada in 2016. Our mid term goal is grow our Dealer partnerships to where consumer transactions on our platform attribute to approximately 1% of the new vehicle sales in Canada (2014 new vehicle sales were 1.8M vehicles). The Company is open to the option of going public via an IPO in late 2016 / early 2017 to coincide with entering the USA new vehicle sales market, which in 2014 represented 18M new vehicles sales.