Edward Holstrom
Rio Rancho, NM (USA)
Role(s):
Founder/Owner/Principal
MAC Automotive, LLC dba Rent 'N Go
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Startup
Location:
Rio Rancho
Industry:
Automotive
Year Founded:
2007
Number Employees:
1-10 people
Description:
My business is a Rent to Own business with the product being Custom Wheels and Tires. This is a franchise of which I purchased the rights to Sandoval county in NM. This is a proven system that is working as advertised, but due to the differance in the prjected buildout and inventory costs, I have come up short on my operating capitol. I project 2-4 months to break even and then it will only be up from there. I have over $60K in instore inventory (actual cost, not potential) and another $192 potential revine in inventory currently being rented. My LLC was formed in May of 2007 and we opened our doors in Feb of 2008. I have a total of $369K in personal and SBA loan funds into the business, but am looking for an additional $50K for working capitol to carry me into profitability.