Angel Investor(s) Wanted for Unique Web Application
For my 200th post to my blog, I thought I’d post a brief summary of a funding request. I’m interested in developing, with a small team, a unique web application. I just wish I could post about it in detail here. Except that would be stupid of me. [must... not... post details... online... ]
So, I’ve posted below what basic information I can.
I would prefer to work with someone local to Brevard or Central Florida, but I’m flexible. Someone I know already would also be great. I’m trying to think of any friends who might have an extra $50,000 lying around and I’m just not getting a warm, fuzzy feeling. There’s that one guy with fairly nice BMW, but I think he bought it at the drug seizure auction. And then there’s my old boss at Brown & Brown who fired me for no good reason which makes me think he might not be too helpful. And that’s probably about it.
Anyway, here’s the summary. Feel free to forward it to anyone you know who you think would be a good fit for such an investment.
I am a web designer who has had a great idea for a highly-profitable web app to a growing but niche group of users. I’m located in Melbourne, FL and currently do web design/development for small businesses.
I’ve had other big ideas, of course, but I believe this one could be quickly implemented and rolled out (3-6 months) and grown to a sizable community within the same time period. There is clearly a lack of this web application on the current market.
However, I do not possess all the skills needed to roll it out on my own. I would have to hire 1 or 2 other coders to bring it to market quickly. Additionally, I can’t afford to stop “making a living” in order to bring this service to market.
Therefore, I’m seeking funding to develop and market this web application. Although I would have to give up some control and long-term sales benefits, nothing would make me happier than to see this application out on the market and serving those whom could benefit from it. I would like to keep the investment as small as possible (between $50 to $75k).
This is a short-term investment. I project that the application will be live and earning a return within six months. I expect that investors will break even within 12 months of going live (with a user base of roughly 2,000). A much larger return is possible as the market for this user base is roughly 2,000,000 and is based on a subscription based model. I currently project that average yearly revenue from this web application alone would be in the neighborhood of $250,000 to $500,000. I anticipate no further funding for this project.
A few minor notes: I don’t have a formal business plan yet. I’m going to go through the headache of creating one even though some say it is unnecessary. I should have that out soon. Prior to that, however, I’m currently working on a brief presentation (15 mins) to give the basic overview of the application, its potential for future growth, and my needs to get it off the ground.
Someone somewhere (maybe Guy Kawasaki?) mentioned that I should have some kind of non-disclosure document for potential investors to sign so I’ve gotta get that lawyer-goodness taken care of first, I suppose. And then there’s that executive summary which I just found out about. It’s all in the works.
Thanks for passing this on to anyone you can. My contact information is on my contact page.
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So what language you going to use for the website?
If I code it myself, or almost all myself, it will be PHP5 - what I’m most familiar with. Else, if others are involved, it could end up being .net (with whichever language) or whatever the group consensus is.
But more than likely PHP.
I am in the same position:
http://bizcast.typepad.com/clients/2008/04/a-business-plan.html