my name is Bob Balderston. i have over 35 years in the automotive parts industry. i have spent the last 20+ years as management. i have been involved in technical writing, product design and sales, inventory . at a young age, i took a liking to the fasteners and fittings world; loved to take things apart, and thru correct fitment of bolts and nuts, i could find a way to put stuff back together.
my loving wife is involved in the business, besides as a investor, she has a degree in accounting, thus she will handle all the book keeping and giving me the support we need and want to be succeessful.
those who benefit of my project are the people i help; first i want to start the business in my small local city. we need what i bring to the table, and provides employement to local people. helping people has been my hallmark all my life, i love a project, from beginning to end, providing the answers and the product for my customers; even people who i cannot help, i know how to recommend them to others who can
my project is to start a fastener and fittings business. my intent is to create a model for future growth as a franchise businesses. the idea is to take a proof of concept to a business that has no other model like this. like taxes, and death, we all need nuts, bolts, and other hardware. you may feel you don't, but everything you have, hold or own, is held together by hardware. the difference is understanding what the customer needs and providing the product he or she needs. and did i mention the profit is insane
the project will never be completed per se; i only seek some seed money to start the ball rolling. in the past 4 years me and my wife, have invested over $60,000 into starting out, with most of the money used for tools and equipment. i need to start collecting the basic inventory to bring the business to life. i am not seeking what would really be needed to start, no i want to keep my starting costs as low as i can, and with the profits, keep investing in more inventory and supplies. the project will be complete when i take it to a corporate level and take leave as the company takes a life of it's own. we will start out as a LLC and soon as possible move on to my next business idea.
if i was to offer kudos, i would offer something tangible, like t-shirts and other promotional products; like wise, if i can get larger donations or even if those who are interested, can supply me with stocking inventory, i would consider possible shares in the business. i always remember those who were there for me, just like i like to think others would think of me.
as for inspiration, is the knowledge of what i hope becomes of my business. i have always known and understood the industry and even more macro than one should know. my 93yo grandmother taught me as a young man and even in my adulthood the ability to stand on your own and do what ever you do best. to this day, i still believe that to be true.
i would like to achieve at least a good part of my goal, in a reasonably short time, if only to get a head start on the result as a whole. the business dynamic is ever changing, but still stays true to the basic tenemet of the company as we grow. that said, there is no end, even after my own passing, as this is not designed or be operated as a family business. i like to think i was part of a much larger thing.
i would offer kudos, like i said in swag, as soon as possible, usually within a few weeks after the donation was made. once again, if i get some larger funding, i would like to meet with and determine any rewards i can make, if required.
where? at the beginning, the business will be a local one. i am lucky i have quite a few large companies and technology businesses as well, all that use fasteners and fittings. outward exspansion will take us to many other not only metro areas, but into farming and agriculutural communities as well. as i spoke before, bolts and nuts are all around us,and it is up to my company to fill those needs.
as for supporters, i like to think they would come from all walks of life as well as education and industry. the profit and growth potiential is unlimited; how else could you expect something so small and that seems unimportant, can be so under the radar and yet be so rewarding.
anywhere there are people, there is a chance to benefit with this business; we, as customers, have to have what we provide; there are no other businesses like this. whether large metro areas, to small farm communities, there is some one to help out. i wish to start out in my community, as i feel i would like to give back here at first, as they have supported me in the past in my parts career. from there, i will keep it in smaller areas, then expand to larger areas, when we have established our business model. this business can be set up in Chicago, or Miami, or Nome, Alaska, in fact our whole idea is based on that.
i started this project years ago, like many starting businesses, in my garage. i have always loved how and why fasteners and fittings come together. basically, they just make common sense, yet it is so misunderstood by most. i have thru my many working years, lived and learned what ever i could about this business, or at least the parts of it, other buinesses dabled in. i never could understand, how something is so profitable, and be overlooked when it comes to the much bigger picture. even when i go into parts stores, hardware stores, and most other retail companies, i always find myself helping those around me, with what ever they really need, not what the company wants you to have. in my early 50's, i developed some health issues, that prevented me from working what was considered a normal job in retail, by investing into my own business, i can work the way i can feel comfortable in and still function like a normal human being; that is the most important ideal i have, i want to be needed again. i never had the chance to be a father to a child, but yet, by creating a successful business, i will prosper thru them, my employees and my customers. i have dedicated much of my life, to helping others, and not just to benefit my ownself, but that of others. it takes great pleasure in helping those aroundme with their needs and be able to go home, feeling the better person for it.
as for seeking funding this way, i think this is the way of the future, not so much as venture capitalists, but as anyone with a dream and a few bucks can be part of a much bigger thing. to gather the greatest inventory for the smallest amount of money, lets me keep the company liquid, with no or very little debt load. banks have become too preditory towards those they lend to, and even then, most small businesses are not welcome any longer; even multi-million dollar companies may not attract funding thru conventional funding. i want the starting inventory, to be paid for, freeing up the profits to further add depth to the inventory and growth. the profit on say, a $1.00 bolt and nut, would be mind boggling; the total cost of such bolt, with inventory costs, overhead and any other costs would be less than .12 cents. now, it might not seem like much, but 30 daily invoices like that, which average $30 per invoice, makes for a $900 day; with the profit exceeding 500%, one can see the growth would be insane, something most banks or lending companies wouldn't understand very well, hence my wanting to approach my funding this way. i don't expect something for nothing, i will try to make good on any dollar sent to me and my company. trust is key here and i want your trust.
the funds i would recieve would be strictly for inventory purposes only. i have invested much of my own funds to lease a property, accounting and inventory management practices and tooling to get the job done. materials and labor will make up the total of sales. we use labor, when we make items for customers who do not have the means to do so, that labor, which per invoice may seem cheap, compared to the profits of the parts we sell, but they too add up quickly and contribute the the proftability of the company. this is a win-win business, and those who may sponsor me, will have options of how they would feel they can be thanked for their help and dollars. i would love that those who help, can feel like they have backed another Amazon, for retail is not dead, if it is, there will always be survivors, and those will reap not only the profit, but the well being of a great company indeed.
Who, What, When, Where, Why and How
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