I own a small company (3 people working from home part-time). We have been in business for 2 years and have developed a consumer product. We have sold 500 units worldwide so far with out any major marketing. And all of these 500 units per pre-paid by the customers in order to allow us to finance the fabrication.
Recently we have been approached by a few major publications
looking to showcase our product in their printed format.
These publications total about 16M viewers worldwide. With that amount of coverage we would be expecting about 1600 units if we could expect a 1:10k response. However in order for us to produce even 1000 units we would need to gather $175,000 in investment. This would cover our costs for producing the product and having it ready for February of next year.
We have currently about $20k invested in equipment and none of us have much more to offer in terms of personal or family investment. However these major publication are due to publish in February of 2008.
All of this publicity has come as a surprise to us and we are trying to find a way to make this happen.
We do not know what may be practical for our situation. We have thought about Angel or Venture investment and we do not think we can get much from a bank line of credit because we do not have a lot to show in terms of capital of past business. Also in order to pay our vendors in time we would need the money within 120 days.
I am not sure where to go from here but in our eyes this is a slam dunk. We just need to find the money in order to fund it.
Any thoughts would be greatly appreciated!