One of the main things we do at Earnest is invest in founders building software for niches: parts of the economy that seem too small, to the casual observer or Venture Capitalist, to justify building a company around and raising money for. We love these opportunities and believe, as we enter the Deployment Age of Software, that they make great businesses for entrepreneurs.
One of the best way to discover these niche opportunities is to work in that industry, discover that the software isn’t great, and either learn to code or find a technical co-founder to build software for an industry you know exceptionally well.
So when I met Tom, the founder of HOA Life I knew pretty quickly we were going to invest. After running a company that managed homeowner’s associations (HOAs) he realized the software they were all using was pretty terrible and decided to scratch his own itch, get a technical co-founder, and build tools for himself and HOAs around the country.
One might think this is a tiny market, but there are actually over 370,000 HOAs in the US alone representing 40 million homes or (>50% of all homes in the country). Thanks to the magic of software and the internet, there’s no reason HOA Life can’t be the default best software for managing every HOA in the US.
Although HOAs (or their managers) are the ones who pay for the software, HOA Life also has tools and a mobile app for homeowners to make it easier to pitch in. So if you run or are a member of a homeowners association, check it out at HOALife.com.