382, Trouble finding a legitimate investment partner|
Posted by bryantfamd, Sat Sep-15-07 03:26 AM
My company has obtained exclusive rights to manufacture and market a new patent pending tool for the plumbing and HVAC trades. We have presented the product idea to several local plumbing and HVAC supply houses and all are interested in seeing the finished product and carrying it in their stores.
We have had no success getting a loan from banks. When looking for funding or financial partner online, there have been many attempts from the UK and Nigeria to scam us. Not happening. A few angel and venture groups have looked at the idea and have just left us hanging with no answers and no responses to our e-mails requesting updates.
Our product is nearing the end of the engineering phase, at which point we will need the financial means to have plastics molds made and get the production rolling. The profit potential for the product is very good, projected net income for the first year is $2,000,000.00. Any advice on finding partners for the business?