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I used to laugh when entrepreneurs would pitch my venture capital clients for funding based on the idea that their product was in a new industry with no competition.

After years of startup investing, I learned that “no competition” often means a market that just isn’t worth competing in.

#-ad_banner-#I’m much more interested in the startup that can bring something new to an established industry. A company that can reinvent a product and take fast market share in a multi-billion dollar industry.

Now, that’s a startup that is going to reward early investors.

I recently found a company on one of the equity crowdfunding platforms I follow that is doing just that. It’s bringing the first innovation to a $7 billion industry in 85 years. This company has already proven market demand with $10 million in sales on 2,000 units sold across the country.

You can’t buy shares in the stock market. This is still a private company.

But you can get a piece of the action as a pre-IPO investor.

This Disruptor Is About To Build On Its Nationwide Start
The first golf cart was invented in 1932 and hasn’t changed much since. The industry saw some minor improvements in the 1950s but is long overdue for innovation.

From the founder of Bally Total Fitness, one of the largest fitness center chains in the world, comes the inspiration for the GolfBoard and the potential to bring the sport into the new millennium. Don Wildman followed his passion for golf, snowboarding and surfing to create an electric scooter for golfers.

The golf cart industry has sales $7 billion annually on prices up to $30,000 with carts that reach speeds of 15 mph. The average golf cart measures eight feet long and weighs nearly 1,000 pounds.   

The GolfBoard is retailing for just $6,500. It’s also available on a $156 per month lease. Players can decrease their playing time by up to 40% and courses generate up to $1,500 in incremental revenue per month on each board. The product takes just two hours to charge and can carry a 300-pound rider up to 12.5 miles per hour.

The GolfBoard In Action

Beyond the immediate demand from golf courses, demand could jump with sales into the electric scooter market, which is expected to reach $38.6 billion by 2024.

The company has already vetted demand with nearly 2,000 boards shipped worldwide and $10 million in revenue. GolfBoard has a patent pending on three key elements and won the Best New Product category at the Professional Golfers’ Association (PGA) 2014 merchandise show. Over 250 courses have introduced the GolfBoard, giving it a nationwide reach and setting the stage for increased adoption.

The GolfBoard Is Available To More Than 250 Courses Nationwide

The company has already raised $3.5 million from seed investors but is funding $1 million from equity crowdfunding to invest in its rental fleet and increase marketing.

GolfBoard is a late-stage company with strong sales and patents pending. The equity crowdfunding campaign gets you in at $1.25 per share with a $125 minimum on the StartEngine platform. As with all investments, I encourage you to do your own due diligence.

I haven’t yet done the detailed market and valuation analysis on GolfBoard that I do on the highlighted monthly deals in Pre-IPO Millionaire, but the company has already proven demand and is one of the first innovations in its market in almost a century. For more information on Pre-IPO Millionaire, click here.