At Keyp It Inc. we strive to be the most unique company, offering services that other companies cannot. However, in order to do so, we will have to have initial funding for our company. Our initial sources consist of the revenue we will make from the product, investments made by shareholders, and fundraisers. Although investments and fundraisers will be our main sources of funding, grants will be sought after as well. We most likely will be in need of a loan that we will pull out of a bank during the first year to get us started. The ownership interest or equity we receive for our business will be in the form of common stock or preferred stock.
Our first main source of capital would be from the revenue we make. We are expecting about $1,500,000 in revenue within the first year of sales. We will also be putting our personal funds as well as other investor funds. Keyp It plans on applying for grants in order to suffice as much of the money needed as possible because we do not want to have too much debt. However, since this is inevitable, we plan on getting two loans each amounting to about $25,000 each.
Fundraising options are countless and we have come up with a number of ways to raise money. Entering local as well as national business competitions can bring us money as well as asking for donations from companies and individuals willing to give towards our business. Our company also plans on obtaining donated goods from other companies that we can give away through raffle tickets bought at local events and shows.
Also, since one of our biggest target audiences is people under the age of 25 we can go to college campuses and give presentations that students and teachers will have to pay a small fee to get in. Once we give our presentation we will then give away some of our products and people can have them before they even hit the market. Furthermore, if a few car dealers can donate cars that we can give away through auctions, raffles, or even a...