Editor’s note: This article was first published in October 2010. Buddi’s turnover of around 5 million euros a year and the description of its service, a website showing the device’s location, are from that time and may have changed since.
Buddi.co.uk was born out of a need, and its creator, Sara Murray, knew how to make the most of this profitable business. No parent likes the idea of a child disappearing or getting lost, so when Sara’s child went missing in a large department store, she came up with a business idea that she went on to exploit to the full.
Buddi developed a GPS-based system: a device that can be attached to a child so that you always know exactly where they are. If your child gets lost, or it is time to be home and they still have not turned up, all you have to do is check the website Buddi provides and within seconds it gives you their exact location.
The business Sara Murray built does not only cover the children’s market but also that of older people. In fact, older people with dementia already carry the device today.
The Buddi system lets relatives set a safety zone. As soon as the wearer leaves that zone, the customer gets an alert on their mobile phone so that the relative can take whatever action they see fit.
Sara Murray has an eye for business opportunities: two years before starting Buddi she set up an insurance comparison website, which she sold a year later for about 300,000 euros, and she invested part of that money in this system.
Buddi currently has a turnover of around 5 million euros a year, even though it has not had all the publicity it deserves.
See also: The future of business: change is happening faster than expected
GPS tracking is a market that is still waiting to be exploited, so we encourage bold entrepreneurs who love new technologies to launch new inventions and enter similar markets.
Any business idea built around giving families peace of mind in specific situations is synonymous with success.
Further reading
- The most profitable businesses
- Business ideas around special food
- The businesses of the future
- How to attract the first customers to your business
- The secret of success in business
Featured image: NASA, Public domain, via Wikimedia Commons.
