Startup Model – Social Network for Anglers

The Model: An app for an angler which can connect you to other anglers, track and share your catches, get information about good fishing spots and strategies for fishing.

Startup Doing It: Fishbrain (Swedish startup)

What I Like:

Core Idea – A social network based around an interest (angling in this case) sounds great. Since there is an interest which is binding the members, the engagement levels will be higher. Also information and content is a good attraction to acquire and retain users.

Niche – As mentioned above, a niche has many benefits, especially in forming networks around it.

Value Added – The startup tracks and analyses the data generated through the interactions of the users and uses the same to offer information and intel to all users of the community. This is a great tool to keep users engaged and be part of the community.

My Concerns:

Market Size – The market may not be great in size to build a significantly big business. Diversification into something related or unrelated may be required at some point to maintain growth.

Revenue – Since the market is not big enough, the revenue potential is not great, especially because the business is about building a network. Revenue potential has to be assessed and ways/models need to be thought of increase this.