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Wednesday, April 15, 2009 11:27:32 AM
Important HOA Stats...from http://www.caionline.org/info/research/Pages/default.aspx
The fastest growing form of housing in the United States today is common-interest developments (CIDs), a category that includes planned-unit developments of single-family homes, condominiums, and cooperative apartments. Since 1964, homeowners' associations have become increasingly common in the USA. The Community Associations Institute trade association estimated that HOAs governed 23 million American homes and 57 million residents in 2006.
Let's say F3 gets a measly 3% market penetration. The above are 2006 numbers so let's round up a little and say that HOAs govern 25M homes and 60M residents.
Let's be conservative and say Interaction revenues per home are about $1mo...so $12 per year.
3% of 25 million is 750,000.
750,000 x 12 = $9,000,000
There is an incredibly high profit margin with SaaS...some like Salesforce.com boasting as high as 79%!!!!
So let's say F3's profit margin is only 50%. That's still $4.5MILLION PER YEAR....PROFIT!!!
And folks, this is ONLY HOAs. This is NOT taking into account the other HOA-like groups such as churches, schools, clubs, etc, etc, etc!
And folks, this is ONLY THE INTERACTION PRODUCT! I'm not even thinking about the FargoTube and Ascend Business product. This is only 1 of F3's products: http://www.interactioncs.com
As per today's PR, it is obvious that they are achieving a significant penetration into several state HOA markets without even launching an aggressive marketing campaign.
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