Péter Bayer: Gergő Halmi, the inventor and co-founder of BEACHEGG went to the beach with his friends and during lunch he realized that he was always looking at his towel-covered bag to see if it still there. He was so disturbed by the feeling that he decided to find a solution to the problem – and he did it. With the help of an incubation program, he created a working model. He was so enthusiastic about the task and opportunity, he started further improvements. The first working prototype was completed in 2017, but for the big change, there were a few important things missing: protection of intellectual property, capital for further development, and teammates to enter international markets.
Imre Szilágyi: The eggshell provides protection. It is also striking and lovable.
Imre Szilágyi CFO and Péter Bayer CEO. Source: BEACHEGG.
Péter: I met Gergő in 2017 when he was testing the product at Lupa Lake Beach. We started talking about how to make this project succeed. We tested, developed, and gained a lot of experience. Meanwhile, we built a team and worked on the right business model. Before, I never thought I will work in the beach safety industry. The story, the egg, the business model and the opportunity have caught my attention, regardless of industry.
Imre: I joined the team in 2019. By then, I had sold many of my businesses and was looking for things to step forward. Many opportunities have arisen, and I have already turned down a lot of business offers. I met Péter at a business event, and it seemed that I could support the project with my sales know-how and experience. I didn’t have to think long because I thought it was a great business opportunity. We agreed quickly and now I am one of the owners of the company.
Péter: I can sum it up in just 15 seconds, because the story is really clear. Even though realizing it is not going to be easy!
BEACHEGG is entering the market in a focused B2B business model. The product is for hiring, the system will be operated through our network of local partners, beach operators, hotels, municipalities. We will generate revenue by first selling the eggs to an operator and then charging fees for system maintenance and after each hiring as well. Both the sales and servicing channels will result in a long-term financial strength that will allow us quicker expansion. Through this method, the growth of our company can be higher than the average growth figures.
Péter: I consider endurance and fighting skills to be my strengths, which are proved by many of my international sports achievements. Many people think that a great idea is needed, and that has all worked out. I think that having a good idea is important, but you can’t prepare for everything, there will be difficulties that could not have been foreseen. I see that there has been no obstacles that we could not solve somehow. Either by development, or wit, or perseverance, but we’ve always managed to get ahead. Gergő is a creative man with an amazing intellectual capacity, who has worked hard for all his successes so far. In addition to his technical and technological knowledge, he excels in livestock breeding.
Imre: I’ve been involved in many businesses and now I know a great idea without a good team means nothing. This project is exciting on several levels: the idea is good, there is no such solution on the market, it is easy to reach customers, it has prospects for great profitability, and most of all, the team is very strong. Gergő – the inventor – knows that he cannot deal with everything, so he has chosen people who are experienced in areas he is less familiar with. Our work is supported by professionals such as Zoltán Szép, who is going to take part in representing our investors’ interests following our crowdfunding campaign. The team is strengthened by Márton Elek, who has proven with several companies that he can build a brand and a sales channel not only in theory but also in practice. I’ve never been so sure we’re on the right track.
Péter: It’s a great opportunity to promote our business. During the campaign, we meet a lot of people who all support the project. Anyone who invest in our business, also supports our work with their network. Many possibilities have already opened to us.
Péter: Indeed, we have been at many events. There is a lot of interest in the project everywhere because the solution is noticeably new and the business model is clever. Many people ask if the egg is really unbreakable or can’t be stolen. We have a set of security solutions developed together with professionals (which make up our 5 + 1 complete security system), which are already proven in practice. In addition, value and liability insurance are included.
Imre: Many people think that we want to sell the eggs to end users. In fact, our business model is based on beach operators: they buy the eggs and rent them to beach visitors. Beachegg Zrt. charges the operators a monthly rent and receives a commission for every rented egg. These fees ensure continuous revenues, and business success does not depend solely on one-off sales. The more locations have the product, the higher the ongoing revenue.
Imre: Obviously, the crisis affects the summer, so we are repositioning our plans and concentrate on making deals right after the current situation ends.
We are targeting blue-flag beaches, and we are in talks with the beach operators. We will build the network on the contracted beaches. We are developing our business model, validating additional markets, such as public parks, open-air events, festivals that will reopen after the crisis. It’s going to be great to see people start using our product!
Péter: Basically, we will be working on sales and service development based on the experience of our partners. There are still many tasks to be done before gaining a stable market position. Our biggest potential markets are in the tropics, it will be a big job to get there. Our vision is to become one of the unavoidable beach technology providers by gaining more market share than our market competitors, such as Aquavault, which does not use smart solution.