8.
Re: Is anyone looking for working capital? Sep 6, 2008 4:45 AM
in response to:
money_buz
Yeah, and then some. I need $3m to go to the next level. My business is going into its tenth year. I'm in a second funding stage. That is, over the years, I've pieced together various funding sources to get where I am. My company is now well organized, functioning efficiently, but short on capital. Vision and hard work have carried me this far. In my first year of operations I had revenue of $6k and I was the only employee. Last year it was just under $700k on a staff of 12. In the last three years, sales have doubled year over year. This year, sales are down because I cut some of our popular but unprofitable products. We're showing a profit for the first time, on a staff of 5. All the trendlines I can see point to success. But I've been underfunded since I started. I, and my staff, spent years getting off the ground and have demonstrated an ability to sell- without an ad budget. I now believe we've figured out how to monetize our business and we're poised for success. We're right on the doorstep.
Moreover, I've discovered a piece of real estate that will make the perfect base of operations for one of our business functions, as well as open a new revenue stream that is perfectly complimentary to our existing business. The real estate itself (a beautiful piece in many ways) would be a winner. The fact that it's perfectly inline with our existing business is gravy. I want to put what is becoming a profitable business on top of a spectacular piece of functional real estate. Is that a plan or what?
I have a chance to take my growing company to new heights. I just need $3,000,000:
-$2.5m for the real estate
-$200k to pay off or refinance existing debt
-$300k for working capital (I've learned to operate lean and mean so I probably don't need this much, but it'd be nice to be properly funded for once)
Any ideas...or funding would be greatly appreciated. I'm a great investment.
