Issue#92: Building $1K-$10K MRR Micro SaaS Products around Image Based Tools
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Let’s see today’s Newsletter around a Micro SaaS niche. No fluffy content. If your goal is to build a $100m ARR business, this is not the right post. Here I am NOT going to talk about building the next Facebook or Twitter. If your goal is to make a $1K to $10K MRR, continue reading. This post will cover one SaaS area and talk about multiple niches in this space. This post also explains how to do tech implementation, do market analysis, and how the current players are doing, and ends with a cost analysis to understand the overall cost for 100 users. Let’s see some of the players around Image based tools and plugins. ⛳ ⛳ Current players
🙅♀️🙅 PessimistsNegative Nancy says - "I don't believe in using AI for image generation. It's not as accurate as human-made art." Me - See AvatarAI that crossed thousands of dollars in revenue in less than 2 months. It’s built on AI. More examples: Looka - AI-powered platform to design a logo and build a brand. Received $5.5M in funding and hit $840K in revenue. IconifyAI - Lets users create professional app icons with AI in seconds. Made $1000 in less than 5 days. Negative Nancy says: Generating images, and profile pictures take a lot of GPU power and this could be a blocker to attaining GPU computing power from cloud providers. Me: Leverage tools like Replicate that handle the backend for you. You don’t have to acquire GPU computing power by yourself. Replicate will do that for you and runs your AI model on the cloud just as an API. Negative Nancy says - Most of these tools needs some good dedicated infrastructure Me - That is correct and sometimes there may be a need to install some tools as well. With multiple cloud vendors available, you can just create a virtual machine in less than 5 minutes and start using the dedicated infrastructure. 💡💡 Deep-dive & Some nichesDesign Tool for Improving Product Images:E-commerce vendors often struggle to create high-quality product images that accurately showcase their products. This is a problem because customers rely on these images to make purchasing decisions, and poor quality images can lead to lost sales. Designing these images can be time-consuming and difficult for vendors who may not have a background in graphic design. Also, doing this at scale takes huge efforts too. A Micro SaaS product that provides a design tool for improving product images can help solve these issues by providing an easy and efficient way for vendors to create professional and attractive product images that will help drive more sales. This solution can also be converted into an API only version too if you don’t want to handle the UI part of the application. See PhotoRoom API for some inspiration. Glorify is currently at $2.7K in monthly revenue. PhotoRoom's estimated annual revenue is currently $1.4M. Received $19.1M in funding. The app got 40 million downloads on iOS and Android and 7 million monthly active users. There are also tools that are specific to E-commerce platforms like Shopify. For example, Pixc’s Shopify app estimated annual revenue is $2.8M. Some good tools in this space: Glorify, Spyne, PhotoRoom, MagicStudio Automated Website Screenshots:Automated capturing of website screenshots can be a useful tool for many businesses, but it is not without its issues. One major problem is that the automated process may not accurately capture the entire website or may capture it in a way that is distorted or unclear. This can lead to incomplete or inaccurate representations of the website, which can be problematic for businesses that rely on these screenshots for marketing, design, or other purposes. Other issues are the automation may not be able to capture dynamic elements of a website, such as pop-ups, hover-over animations, or videos. Normal automated capturing of website screenshots may not be able to capture websites that require authentication, such as login pages or secure portals. This can be a problem for businesses that need to capture these types of pages for internal or external purposes. Create Micro SaaS products that solve these problems at scale. Note that some of the current solutions around this are also able to handle authenticated sites as well by using the passed parameters in the API to login. For inspiration - see Stillio’s estimated annual revenue is currently $560k. ScreenshotOne crossed $400 MRR in 9 months. ScreenShotAPI crossed $5K MRR AI Tool for App IconsDesigning app icons may seem like a simple task, but it can be just as complex as creating a logo. App icons serve as the visual representation of an app and can greatly impact a user's decision to download or engage with the app. This means that designers need to carefully consider the design elements, color scheme, and overall aesthetic of the app icon, just like they would for a logo. In addition to the design considerations, there are also technical requirements for app icons. App stores have specific guidelines for app icon size, resolution, and format, which can be different for different platforms. Designers need to ensure that the app icon meets these requirements while also being visually appealing and consistent with the app's overall branding. IconifyAI solved this problem to a larger extent by letting developers generate logos by using AI technology. It’s mostly one time payment. But the App market is huge. With some SEO, this should reach to more App developers. You can also see the growing trend here. For inspiration, see IconifyAI that made $1000 in less than 5 days suiting perfectly for a Micro SaaS. If you are more into tech, may be providing an AI wrapper for this and letting other businesses use the AI wrapper could be a business by itself. Personalized AI Story Generator using Kids’ photos:A personalized AI story generator using kids' photos is an exciting way to introduce children to the world of storytelling. By incorporating technology and personalization, it can help foster a love of reading and imagination in children, while also providing a fun and engaging activity for them to enjoy. Children can feel a sense of ownership and connection to the story, as it is tailored specifically to them. Additionally, the use of AI technology can help develop children's imagination and creativity by introducing them to new storylines and characters. Create a Micro SaaS product that uses AI to analyze the photos and generates a story that incorporates elements from the image, such as the child's facial expression or the background scenery. Some players in this space: StoryWizard, OnceUpOnABot, BedTimeStory, StoryBird While these tools are primarily into AI generated space, generating a whole story from the kids photo would be more engaging to the kids. Meme generators:Memes have become a popular way to increase engagement on social media platforms. Users enjoy using memes to express their thoughts and feelings, and it can help them connect with their followers or friends. Creating a simple Micro SaaS product that allows users to generate memes can be a great way to tap into this trend and provide a fun and easy tool for users to engage with. To create a decent meme generator, you can start by creating a library of about 100 templates that users can choose from. These templates can have placeholders for both images and text, allowing users to easily customize the meme to their liking. This will make it easy for even those with no design skills to create a professional-looking meme. See Kapwing Meme generator for inspiration. For some social media influences, memes are generating huge traffic. Also, you can also add AI flavor to the whole meme generation process to make it more scalable with variations and choices for the users. Some players in this niche: Memix, SuperMeme 🔒 👉 [Get access to 1000+ additional ideas and more additional ideas in this niche and across all niches from Pro version with data points, revenue information]. 💻 💻 Technical chops Learn technical pointers on how to build products around this niche. 👉 🔒[Pro access] 📢 📢 Marketing chops Learn Marketing pointers on how to start marketing the products for this niche. This should give you a marketing head start. 👉 🔒[Pro access] 💳 💳 Cost Analysis for 100 customers Learn how much it costs to build a product in this niche and cater to 100 customers. 👉 🔒[Pro access] Pro VersionSee all profitable players in this Micro SaaS niche (Pro version)See another 100% ideas for Micro-SaaS tools around Image Based Tools (Pro version)See Technical chops for implementing for Micro-SaaS tools around Image Based Tools (Pro version)See Marketing chops for implementing for Micro-SaaS tools around Image Based Tools (Pro version)See Cost analysis for 100 users (Pro version)Also get 90+ SaaS niches Pro versions covering 1000+ ideas from Pro news letters👉 The report you're reading now was available to Pro subscribers 8 weeks ago. By upgrading to Pro, you'll gain early access to every edition, staying ahead of free subscribers. Get your Pro subscription today. |
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