I’m looking to raise $1,100,000 for a 30% stake in our company.
The name of our company is Stratton Press Inc. Our website is www.stratton-press.com . We conduct business as Stratton Press Publishing. We are an author services provider incorporated in Delaware back in 2018 and operating in New York and the Philippines. We provide book services and marketing services for independent authors or writers who wants to publish and sell their own books. From Manuscript editing services, Custom book cover design, Social Media campaigns, Print advertising, Book insurance, Warehousing, Website set up, Book shows, Manuscript analysis and a few more.
Since we started three years ago, we have successfully gathered a customer base of more than 1,000 authors and we have successfully published close to 2,000 titles under our brand. Some of our books and authors were awarded and nominated from different award winning bodies such as the Eric Hoffer Awards of books.
Our Head office is in New York but a bulk of our operations is outsourced to the Philippines so we can take advantage of the low cost of labor to keep our operating expenses down. We employ about seventy five (75) people in our call centers in the Philippines and two (2) here in the US. (Me and our country manager)
In 2019 our first full year of operation the company produced $673,655 in total sales.
In 2020 during covid 19 we produced $1,383,134 in total sales.
Last year, in 2021 we produced $1,374,406 in sales a little short from the previous year.
And this year we are on track to make another $1,300,000 to date.
We feel like the company is hitting a ceiling so this year we plan to establish a real presence here in New York and move about 20% of the operations here. We recognize the value of doing this as we are able to fully support our authors better if we had people in the country. This has been a big issue for almost all of our customers. We will also be able to provide better services and repeat business will be easier.
The money will be used for this expansion. Hire staff and invest in other revenue channels and marketing. We also plan to open our first ever physical bookstore in NYC a bookstore dedicated for independent authors. We already have 2,000 titles so this will be another opportunity to create a new sales channel and build value for the company.
This capital raise will also solidify our balance sheet and provide enough runway to last us about two years. We will not be solely dependent on this capital raise as we still continue to produce revenue every month. We also want to set up a proper structure in the company as far as hierarchy
Of a corporation is concerned.
We are also raising this so the new investors can help set us up with the proper connections and guidance to fully grow and scale.
This is a cashflow generating structure and we have a pool of customers ready for repeat business when we are able to invest in new sales channels or new product offerings.
We raised some debt about $50,000 to get our office space in New York, but aside from that we are completely bootstrapped. We have never raised money from outside sources. This will be the first.
We have an established system and a proven concept - the proof is in the pudding.
Backstory about myself. I have been working in this industry from different big name brands such as Author Solutions Inc. for more than 15 years. I am 38 and had just moved to New York to pursue this bigger vision for the company. I left everything in my country to make this happen. I have an undergraduate degree of Bachelor of Science in Accountancy. I own 82% of the company. I have skin in this game because I personally invested approximately more than $60,000 and more than 10,000 hours into this company and we have been reinvesting the profits back into it the past few years.
We started this company from the back of my friends car calling up potential clients to where it is now.
It is just about ripe for us to go over this plateau and grow.
I hope to find an investor who will share our vision of becoming one of the biggest brands for Author Services and guiding me and my team to create structure and build better systems
for this company.
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