Holding Pattern

For those of you wondering what we are doing, we were working on getting the financing for the business, which is now on hold, due to the economic situation the country is currently in right now. From the reports we are getting in the news, even McDonald’s can’t get financing to upgrade their locations, if they wanted it. So someone in our condition is most certainly not going to see one dime until this situation is answered. So we are watching and waiting to see what happens, and hoping that the current actions will change things so we can get the loan and get moving forward. It is so frustrating, since we have one of the best opportunities in front of us, and we are stuck in hold until something gets moving again. If Congress doesn’t pass the economic plan put forward by President Bush, we may all be feeling a major crunch, not just those of us wanting to start a business. I think many people in America don’t realize the importance of this deal. We need to move forward, or we will watch our way of life implode.

On A Personal Note

I thought I would talk a little bit about what drives me personally to start the journey into this business world. The first thing that I see in front of me, is the need to build our income so I can provide a stable income to take care of Melissa and give her the life I know she deserves. She has sacrificed so much to be with me, she gave up her friends, family, and her entire life was turned on its ear for a long time. We have since rebuilt a great life together, and are building friendship together where and when we can. We have also been working over the last several years to mend the relationship with her parents and family. It will take time, but little by little, we are moving forward.

I have big dreams for the two of us, and want to build a life for Melissa that she would enjoy every single day. I have already picked out houses, cars, even motor homes, yachts and a jet to fly us anywhere in the world in a few hours. I love nice things, and want the best for Melissa. I believe this business has the capacity to grow to the point that it will provide us with the income to do great things in life, and part of that will be showing the world to Melissa, a little bit at a time.

Lastly, I also want to have the money to be able to take on charitable causes. I have a lot of things I would like to do in the world, and with the funds to do them, we could do great things as a couple, as a business. While part of our contributions will be through organizations, I would like to take on doing direct assistance in certain situations. I see almost every day, people in need of help, and if we just had the funds, we could do so much. From people that lose everything in a fire, to families that need bigger homes, vehicles, or better jobs. This business will give us all this and more, if it grows to the degree that I expect it to grow. It depends on so many factors, but I believe that great things are on the way. We just need to find someone willing to give us the financing to get this started. We have a unique position that few businesses have when they start, but that is a topic for the next post.

sz

Another Battle Won!

I have had an ongoing battle with the state of Florida over a personal matter for more than 12 years now that has been around my neck all this time. Several years ago, I wrote the President of the United States for help, and to my complete surprise, his office replied. They were able to serious reduce the problem, and with their continued help, I resolved the problem in court. But the state continued to press the matter, ignoring the court order up until as recent as last year. I thought I would never be done with this matter, and recently we were going through the usual problem in getting on tax refund, so this time I wrote our two state Senators for help. One passed it off to the Department of Revenue for the State of Florida and the other one stayed focused on working on the IRS. Not only to we get the refund we were due, plus a little interest, we FINALLY resolved the ordeal with the state. I was able to confirm that the case was officially closed, and hopefully it will remain that way. I asked that he send me something confirming this, just in case someone reopens it in the future.

That is one major worry off the table, and we are getting things in line to acquire financing for Parrot Hut. I have been able to work up a general needs list for things we will require to open the doors of our business. I have had to increase the amount we are seeking to $75,000, up from $50,000 which was my original figure. While we could make a go at the business with $50,000, it would be better to have the larger sum, as we would be able to purchase more inventory. We will also have a secondary business that we will be able to look to for an additional source of income, so that should help us with the overall picture.

I am in the process of trying to absorb as much information regarding the funding process, what we need to do to get a loan, other alternatives for financing, and things such as that. We are both excited about getting this business up and running. I wish we could start things going tomorrow, but I understand it takes time. We want to do things right, and so we are not making any rash moves right now. We have plenty of time, and there is no reason to push this more than we need to push. I think we can be up and running in six months, sooner if we find a quicker source of funding. It would be a dream come true if we could find a rich person that can see that we have an excellent opportunity here, and a means to make him or her even more money. But I am not holding out for that. I am accustomed to getting things the hard way, so I am sure we will have to work hard to prove our worth to a local bank, and hopefully they will see the value in loaning us the necessary funds.

To Incorporate or Not To Incorporate…

We spent some time off on the business taking care of other matters in our life, and still have a few things that need addressing, which have to do with my current health status. I have spent this time reviewing the pros and cons on incorporating the business. From what I have read on the subject, we would be better off if we did incorporate, but then there is the question of which form is best, an LLC or a C corporation. If we went with a C corporation, we could sell stock privately without making an IPO with the SEC, which could raise the rest of the capital we need to get the business going. This is very attractive, since we would not go in debt, but we would be answering to more than just myself, if we did that. Of course, we could also hold on to the stock and just enjoy the tax benefits of being a corporation, as well as cover ourselves from liability in the event the company were ever sued for something.

The LLC is a hybrid version, and has similar features as the C corporation, but investors don’t particularly like to invest in them, from what I have read. They don’t have the same solid factor that a true corporation would have, and there is a lot to be said about having that “Inc.” at the end of the name. So, as you might be able to tell, I am leaning towards the C corporation. It costs the same to do either one, so I figure why not go all the way and make it as solid as it can be. But there are a lot of things I must consider as I move down this path. I would rather take my time and do this right, than have to go through the added expense of having to restructure an existing corporation after finding several mistakes in the set up. It is even possible, if I am not careful and thoughtful in the set up, that I might have to break it apart, trash it completely, and start again. It would require a lot of paperwork with the state and feds to do, and that isn’t something I want to see happen.

Well, time to get back to the books…

Taking Our First Steps

We had a good start, getting things together little by little, when there was one big step backward. After doing a considerable amount of work on the business plan, among other things, which I was getting ready to back up, the main computer’s hard drive died. This computer was brand new, and with all computer malfunctions, it happened when I least expected it to happen. I decided to run a recovery program that claimed it would not erase personal data, and I knew I should have backed up the data first, it was my fault, I know that. Sure enough the promise not to erase personal data was false, and it erased everything, all the work I had done for the last several weeks.

So now I am starting over from the start, with some things gone for good. I am now backing up everything immediately, and no longer waiting to do it once a week or so. I am slowly getting back on track, but this is why I haven’t posted much here or anywhere for a while. We are getting close to being able to make the proposal to the bank in the attempt to get a loan, which will put us back on track with the business. I have completed the plans for the actual shop, which when we are able to build the first one, will be awesome, if I say so myself. These stores will not be like any other bird shop on the planet, and will be a major step forward, in my opinion, for many reasons. I would love to go into more detail here, but for now, they must remain secret. Once we have the first store in place, I can take you on a tour of the first one. I look forward to that day more than any of you will ever know.

We’re In Business

We now have the business license and our Federal Employer ID number and are now in the process of setting up the accounts with our distributors. Once that is in place, we will know exactly what we will need financially to start the business, and will approach our bank in the hope of getting financing for the store. Once that is done, it will be a matter of time before Parrot Hut is open and ready for our first customers. we are very excited still and looking forward not only to opening day, but finally being free from buying our bird food at such high prices. It is amazing what these stores charge for food, toys, and the basic needs of our birds.

Our store will begin online, but we expect to have a fair amount of local customers, which we hope to help supply their needs as well. The local shops are overpriced and don’t have much to offer in the way of basic knowledge on birds. They simply see a way to profit, nothing more, and we hope to offer the customer something more than just a supply store. This is an exciting time for us, and each new day brings us one step closer to realizing our dreams at last. I finished the first draft for the logo last night. I hope to refine it and add a little more life to it as soon as I can.