Life size flexible foam toy fort business
| Listing Information | |||
|---|---|---|---|
| Amount: | $15,000.00 | Status: | Expired |
| Grade: | C | DTI: | 43% |
| Lender Rate: | 30% | Borrower: | rowdyrobot |
| Finished | State: | UT | |
| Funded: | 0% | Group: | Bay Area Techies |
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Hello, I live in Draper, Utah and am in the process of starting up a
new business. This business will be a life size flexible foam toy fort
venture. I am offering a brand new toy, one that my extensive research has concluded no one else is currently offering! I have filed for a patent on the interlocking design as well. The general concept is a flexible foam toy that interlocks together using a variety of different parts. These parts are classified into two main categories; panels and connectors. Both panel and connector pieces are notched allowing for any combination of panels and connectors to interlock together to form a multitude of structures and three dimensional objects. Unlike many other interlocking toys however, my system allows for greater structural integrity and thus allowing larger structures and objects to be created. My business organization is an LLC and my pricing model is such that I am going to be a 'Not Sold in Stores' product. In order to offer the best pricing possible and still have a decent profit margin I am only offering this toy through my online store, over the phone, or through mail orders to the company directly. I am just about to market as of this writing. The website is 95% complete (http://www.fiddlefort.com/revamp), the business structure and licensing is established, the merchant account is active and integrated into our site, a local supplier for the foam has been contracted, and a custom hot wire cutting table is being built in order to handle the precise cuts needed to fabricate the parts being offered. My funding goal is between $25,000 to $50,000 in order to help facilitate this product to market. The majority of the funding is coming from my own creative financing efforts but as I have used Prosper in the past successfully, I would like to round out my portfolio with another small loan from the community lending folks. I have already put much of my own money into getting this far. I am securing most of this funding through my own personal assets as well as over $50,000 in home equity. However, the desire is to never have to use this by getting the product to market and being able to pay the loans back with the money generated from toy sales. The funding that I will be receiving from you is going towards the completion of a custom cutting table to accurately and efficiently cut the parts for the 8 shapes the toy company offers as well as to build a second generation prototype (production quality) for professional photography and website completion. This toy is without a doubt a niche market product. I am fully aware and definitely excited with the possibility of offering a higher end foam toy to a smaller market. I have taken much of the confusion out of deciding which parts to order by offering 'kits' that have a preselected variety and number of parts so that it can be utilized immediately. The operations will allow for me to complete about 5-10 kits per day at an average gross profit of $100 per kit. And with only a couple of employees needed to fulfill, fabricate, and ship the orders; my monthly net profits will be in the ballpark of $10,000 - $25,000. FYI, the wholesale foam that we get is completely manufactured in the USA (Colorado) and our operations are in Utah. Also, the foam is made without CFC's or HCFC's and is 100% recyclable. We are proud to offer a fun, safe and environmentally sounds product. As I have mentioned... I am very excited about bringing this toy to market. The initial response so far has been overwhelmingly positive with many people ready to buy this toy as soon as it is available. I would very much enjoy the support of your group in making this dream a reality. Should you have any questions at all, please feel free to contact me at anytime. Thank you for your time. I hope to |
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| 72223 | Online DVD, Game & Audiobook Rental Startup | D | $5,000 @ 16% | Dec 08, 2006 | Loan created |
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