Editor's Note: Cupid's Cup is a business competition hosted by the Dingman Center at the University of Maryland. The competition is open to student and alumni entrepreneurs alike who have surpassed the business plan stage and now own and operate their very own ventures. Moolaguides.com, is one of six companies competing in the Cupid's Cup finals which will be held on April 5, 2013. To learn more about Cupid's Cup, check out their website here.
Florida State University senior Thomas Brady is the very definition of a youthful, driven self-starter. Cultivating his successful venture from the ground up, Brady has quickly risen in the entrepreneurial world equipped with business smarts and an innovative mind to boot. Founder of the eBay for study guides, Moolaguides.com, Brady is one of the most fitting representations of a 20-something who has created a lucrative business and appealed to the masses with an alluring idea despite his young age.
How the Idea Came to Be
It all started sophomore year at Florida State University when Brady was asked to come up with a business proposition, a requirement of the three-year entrepreneurship program he's enrolled in. The idea of selling notes online was tossed around, a concept that Brady was immediately drawn to. Moving forward with his gut feeling that this, a website capable of catering to buyers and sellers alike, could very well prove prosperous, his venture rapidly transformed into the most successful company to come out of the entrepreneurship program at Florida State thus far. Appropriately named Moolaguides.com, Brady had his first transaction over Thanksgiving break in 2010 and, over the past two years, has grown his customer base, passing the 50,000 transaction mark already.
How Moolaguides.com Works
There are two different kinds of users: the student sellers and student buyers.
The student sellers are students who take thorough notes in class. It doesn't matter where they attend school, or what time it is, they can access Moolaguides.com whenever they want to upload notes for free. After attaching a price to their notes, all they have to do is spread the word about their work and watch as the moola comes in. Students receive 80 percent of the purchase transaction.
For the student buyers, their job is easy. They search for the document they want, pay (it's quick and easy), and then download their recently purchased notes. Buyers will be studying in a matter of two minutes.
Why Moolaguides.com Will Take Over the World
To this day, Moolaguides.com already has a user base of well over 21,000. Brady has big plans to grow his business into both a regional and international user base, scaling and expanding at a rapid pace. He intends to continue Moolaguides.com's maturation by fostering exclusive relationships with student organizations and student reps. But what truly stands out about Moolaguides.com, what makes it so different from its competition, is the fact that while a profitable business, Brady wants to give back to the student body as well as benefit from it.
"If you can get your entire student organization to upload documents to Moolaguides in a predetermined amount of time, Moolaguides will give back all of the proceeds they receive for your transactions to your group," Brady said. He used Greek sororities and fraternities as examples, further explaining to me how advantageous this could be for his company and the student community alike, a unique add-on to such a forward-thinking business model.
Imagine the possibilities here. Moolaguides.com is meeting a need for students, making their lives easier. Not only will midterms, finals, and the like be a little less of a burden on student's lives, but they can also make some moola on the side to help with their pesky student loans.
How They're Making Bank
Taking 20 percent of the transaction fees processed, Moolaguides.com is well on its way to a prosperous future. In the past two years alone, students have earned over $325,000 with more than 50,000 transactions to date. With expansion in the works, it's clear that Moolaguides.com has high aspirations. Now I understand why Brady said that he's most likely the only student who loves midterms and finals (That's when sales are at an all time high!).
Why Moolaguides.com is a Hot Startup to Watch at Cupid's Cup
Brady has already seen such great interest in Moolaguides.com, so there's clearly something spectacular brewing over at Florida State University. If not for ingenuity's sake, I'd say Moolaguides.com is one of the hottest startups to watch at Cupid's Cup because of its real world applications. A fairly recent grad myself, I can see just how much of an impact Moolaguides.com has the potential to have on students across the whole of the United States and eventually the world.
In terms of Cupid's Cup, Brady had nothing but pleasantries to say about the prestigious business contest.
"I have the highest of regards for the competition, truly an amazing experience," explained Brady. "One of the things I enjoy most about going to these types of competitions is the fact that I get to see so many young students doing such great things. It's reassuring to see my generation being so innovative and passionate, comforting knowing that they are going to be so successful in doing things for the betterment of the world."
Brady mentioned that the biggest takeaway, besides hopefully the prize, will have been the opportunity to meet such an impressive slew of students, mentors, and inventors along the way. "The networking poses unbelievable opportunities," exclaimed Brady.
As mentioned before, Brady's startup is one of six in the running to win the highly coveted Cupid’s Cup hosted by the Dingman Center at the University of Maryland. If you’re interested in meeting the founder, see the product displayed in person, or just want to check out the event out of pure curiosity, make sure to RSVP for Cupid’s Cup here.
