Inochi Ventures

Hearing Direct

James Murray Wells revitalised the glasses and contact lens industries with first glassesdirect.com and then lensesdirect.com.

Now he is disrupting another schema with the launch of hearingdirect.com, aimed at the hard of hearing. The idea is to provide low cost hearing aids, cutting out the expensive consultation and high margins. Says Murray Wells:

The Holy Grail for an entrepreneur is finding an industry which looks as if it has been gathering cobwebs for a while,” he says. “And this sector is ripe for a shake up. The average spend on a new hearing-aid device is £1k-3k. But they cost just £100-150 to make. The margins are extortionate. It’s a complete scam.

Read the full story from Real Business here.