Auto Paradise, a dynamic start up company, requires $934 100 to set up a four-bay automated and two-bay self-serve car washes that provide outstanding car care services for the San Angelo community. Quality services that will exceed expectations will establish Auto Paradise as the premiere car wash service in San Angelo, Texas. Bobby and Vicki are offering $45,000, and are looking to raise additional $150,000. This represents 20% of company stock. Auto Paradise aims to offer the highest quality car washing, vacuum/shampoo and self-service car wash services. Auto Paradise also offers ATM services and sells reverse osmosis water (RO) on-site.
Auto Paradise has an excellent management team. He will be the President and Chief executive officer of Auto Paradise Texas Corporation (C). Mr. Lewallen has extensive leadership, management, and organizational experience. For the past 10 years, he served his country as an Army officer. He served for 10 years as an officer in the United States Army, including one year as a Brigade logistics officer and two as a commander of a company. As such, he assisted in planning, coordinating, and executing several complex missions.
Numerous studies have shown that San Angelo’s mild winter will promote steady year-round sales. Auto Paradise’s Avenue N location will draw local residents, Angelo State University students, and Goodfellow Air Force Base customers. Auto Paradise’s location will be at the intersection with two major roads of San Angelo. Direct competition is limited primarily to obsolete “tunnel” or friction car washes. Auto Paradise will boast the Laserwash 4000 “touchless, spot-free” system. Washing Equipment of Texas (WET) is located in San Angelo and will provide all equipment and maintenance support.
Auto Paradise should open within 90 days of receiving financing. Mr. Lewallen will offer several ways to invest at Auto Paradise.
- Company stock: Mr. Lewallen is offering 20% of company stock to investors: offering 1% of company stock for $7,500. This capital will enable Auto Paradise to open its first location. Auto Paradise expects to distribute $2,500 per 1 % share over the first 3 years.
- Secured Investments: Mr. Lewallen guarantees a 10% annual return over a 3-year investment. Mr. Lewallen is willing to secure these investments with personal assets/investments.
Mr. Lewallen will get an SBA loan from Compass Bank San Antonio. This is designed to ensure Auto Paradise’s success over the initial months. The $740,000.400 loan has two components that will help to build operating capital. First, the loan has a 10% (69,000 USD) construction contingency. The contingency will convert to operating cash if the construction costs match the estimate. There is also nine months of interim income that will defer payment for the long-term loan.
It is clear that Mr. Lewallen has the ability and willingness to spend substantial cash in starting this business. This is furthered because he does not depend on profits from the business for his personal needs during the first 6-12 month period. These factors will allow Mr. Lewallen the opportunity to expand to a new location within the first 2 years.
1.1 Objectives
1. Average monthly sales $28,000
2. Do you want to open another site?
3. Distribute a 33% (3,500/share) payment to the initial investors each year in order to recuperate initial investment.
1.2 Mission
Auto Paradise is dedicated to providing its customers the ultimate car care experience. Auto Paradise is committed to providing the best car care experience for its customers. It also provides excellent rewards for employees and owners.
1.3 Keys to Success
Auto Paradise, located near the intersection of San Angelo’s two main roads, will be open. Direct competition is limited only to #8220tunnel#8221 or friction car washes.
Auto Paradise will feature the Laserwash 4000 “touchless, spotless” system. Washing Equipment of Texas (WET) is located in San Angelo and will provide all equipment and maintenance support.