InventoryMeApp

However, trouble arises upon realizing just how many competing Inventory Management applications are already on the market. This includes Sortly, Memento, Nest Egg, Encircle, Homezada, Smart Inventory, Magic Inventory, and others are not far behind the company’s laudable technology.

Moreover, the unique offerings of InventoryMeApp seem to have made the application quite complex. It seems to be offering solutions to problems that do not need to be addressed (the opposite of “giving the people what they want”) and, even if they need to be, not before so many more tasks are completed.

Here are the basic points that are of concern:

InventoryMeApp: Raising on TruCrowd

1. Complex Solution to a Simple Problem

The application is still undergoing constant development yet even now it looks complex for the needs of the average user.

Some of the potential clients of InventoryMeApp are asset documentation service providers, appraisal companies, property management firms, insurance claim adjusters, pack-out companies, and moving companies, and homeowners. These parties have been working to assist individuals and businesses in the legal aspects of property and asset claims for years. They have been doing quite well and are able to provide a satisfactory output with the technology presently available to them.

The addition of complexities like dynamic sharing, bulk editing, dynamic import & export, field scheduling, and others are “nice to haves” not “must haves” in our estimation.

2. Lack Of Operating History

Though the Founder has been working on InventoryMeApp for four years according to LinkedIn, the income statement reflects no sales over that time.

Source: Reviewed Financial in Form C of company

The company does not foresee generating any revenue in the near future.

The absence of revenue in the present and the near future makes InventoryMeApp completely dependent on external financing. Even if the minimum financing from the crowdfunding round is obtained, most of the funds will be used to develop and market the app.

3. Saturated Market

The competitors of InventoryMeApp include established players like Sortly, Memento and Smart Inventory. These companies are established and have a loyal client base.

This in itself might not be a problem were it not for the fact that the majority of the InventoryMeApp’s competitors are financially and technologically ahead.

Granted, the founder of InventoryMeApp, Kevin Cope, has years of first-hand experience as the operating owner of a 3rd party asset documentation service provider. But this doesn’t change the fact that the market is saturated from our own analysis.

4. Non-Competitive Pricing

If InventoryMe App was offering a truly differentiated product we could justify a higher price point for its solution. However, utilizing our analysis, we do not see enough value-add from this app to justify a higher price point to competition.

For instance, the Basic-Plus package of InventoryMeApp is priced at $6.00 per month, while the same package is priced at $3.99 per month by the competitor Sortly and $3.00 per month by Memento Database.

For business customers the app subscription cost ranges from $25 per month for small businesses to $285 per month for large businesses.Sortly subscriptions come for $25 per month with almost all the basic features available on InventoryMeApp. We think if and when the team does start to roll out the product, this will hamper business customer adoption.

Due to a highly saturated market, relatively high prices, lack of revenues and financial strength, and complexities of the application, we are assigning InventoryMeApp an underweight deal rating.

There are multiple other applications that are serving the same purpose of asset documentation and inventory management. The application claims to save both time and money for the consumers, however, for us this remains to be seen.

If you have any questions regarding the Underweight Rating of InventoryMeApp, please reach out to us at hello@kingscrowd.com.