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What is ScanGuage?
It's a simple gadget that hooks up to your car where they do the yearly inspection. '96 and newer cars have this diagnostic connector. There's a whole lot of information in there. I figured out how to go in there and get all that out.
What can it tell you?
It can give you: instantaneous mileage, average mileage, gallons to work, how fast the kid drove the car last night. It'll tell you why the check engine light is on. It's a fancy trip computer.
But mostly it can tell you everything you need to know to adjust your driving habits for the best fuel economy. You can really do a tremendous job. You get better and better at it. Like playing a video game.
How did you get the idea?
In 2001 bought a pickup truck, and I was getting lousy gas mileage. My old Cadillac got better mileage. My dealer drove it around and showed me if you drive it properly you can do better. The machine he used to figure this out took up the whole front seat. I figured out how to make it into a consumer item.
How much does the ScanGauge cost?
It costs $169.95
What are your sales like?
Between you and me I'm making more money than I ever dreamed of. We're up 400% in the past few months. I did an early retirement from a major corporation and decided to give this a try commercially. I funded the whole thing out of my own personal assets. The first one wasn't that good — too big. I redesigned it, and now people love it.
We started selling in June 2006. We were profitable the first year.
What's been happening since gas prices started spiking?
Now I can't keep up. We used to ship within 24 hours. Now we're over a week behind. Dealers are waiting a month. I'm concerned about cash flow issues now. We pay for stuff up front.
Any thoughts about going public?
We've already gotten takeover offers. I don't know that I'm interested right now. Having too much fun!
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