Brian Lindemann
St. Michael, MN (USA)
Role(s):
Founder/Owner/Principal
RTI
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Startup
Location:
St. Michael
Industry:
Technology/Web
Year Founded:
2007
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
"S" Corporation
Description:
Proven Concept - Self Service Motor vehicle Registration renewal kiosk. Looking for equipment funding to take the business to the next level. Business has been in live production for 20 months, monthly and annual revenue growth is very strong and same location sales have not peaked.
Problem - Start up business, lack of capital, development took longer than expected the normal noise of any start up on a personally funded shoe string budget with some loans from friends and family. Revenue model is highly unique keeping the BIG competition out of the space but at some point they will likely look to acquire as we grow.
Ultimately I want 750-1000 units placed over the next 3-5 years in one state. Funding needed in phases of $1M per year for 3 years. This will allow 150-200 units to be built and placed per year. Total $2.5-3M including 20% annual contingency. I am financially conservative and respectful of money, keeping all expenses low. By year 3, revenue will support future growth through leasing.
Current unit Gross ROI, is approx 18 months on 5 year average. The first 6-9 months of a unit have been slow (lack of marketing $) and there is some seasonality to take into account as to why leasing is not viable early on.
Through unique partnership have access to 27 additional states to rapidly grow into if additional funding is available. This partner is in the top 10 of FORTUNE 500 companies and may drive an earlier exit for you to consider.