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icyparadisefl
10-05-2015, 10:51 PM
I have a business that has been in business for 2 years now. Sales are up 74.55% this year, unfortunately all my profits have went toward replacing broken things this year. I had a goal of expanding the business for 2016. It is very important for this to happen because if I don't do it someone else will. I can not find any help for financing what so ever. Our YTD sales are 41k- which is double the sales from last year. I don't need much .. 25k at the most to make this happen. Any advice? Friends and family are out because I have no support system. I work full time as an area supervisor for a corporation currently which forces me to employ three people. All my money goes toward bills and college as I am a full time college student as well. That leaves me managing my business instead of being a hands on owner in which I hate. Advice?

Freelancier
10-05-2015, 11:14 PM
What's the business and what keeps breaking?

From what you've written, it sounds like you have too much on your plate to focus being successful at the activities that are truly important. But I think we need a little more info to figure out whether your business is salvageable.

MarcA
10-05-2015, 11:22 PM
I deal with this type of question a lot and depending on your answers I might be able to point you in the right direction. What industry are you in? What was your profit margin? How much of your costs are fixed vs. variable? What was your customer retention this year? You are asking for an investment equal to 46% of your company's value. From an investor perspective that's a huge risk given how long you have been in business. Was your growth organic? I'm sorry there are just a lot of variables in play here. Any information you can provide would help us give advice.
- MarcA

Fulcrum
10-06-2015, 08:06 AM
I have a business that has been in business for 2 years now. Sales are up 74.55% this year, unfortunately all my profits have went toward replacing broken things this year.

I'm going on the assumption that you're making something. Welcome to the wonderful world of manufacturing. If it ain't broke it will be - even more so if you have employees.

I'm going to ask some of the same questions as above:
1) What field is your business in?
2) What keeps breaking?
3) Do you have a PM schedule in place?
4) Are you tracking all maintenance?
5) If you were to quit school and the other job and focus your efforts 100% in this business, would that be enough to finance what you want to do?

CCAdamson
10-06-2015, 11:28 AM
With the information you provided I am saying you have way too much going on. If your business is experiencing that much growth do you need to maintain a full time job as a Supervisor? I only ask because I think you kill yourself with overhead of three employees, you are surely swamped as a Supervisor, and your business is experience very good growth and needs a lot more of your time. An expansion could be successful but you probably need to give something up to make it work, that could be why investors shy away. You don't appear to be 100% committed.

Again, this is going off of the information you provided. You have done very well to this point.

Thinkbooks
10-19-2015, 03:21 PM
There is not enough information to go on here and others have already started to ask further good questions. The only thing I could add to these wise people's advice is whether or not this business could be licensed to someone else to take over and run where you could just collect the commissions or royalties so that you could focus on your studies.


Keep well and good luck !!!!