Jeremy Haack
Urbandale, IA (USA)
Role(s):
Founder/Owner/Principal
The Maytag Mansion
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Startup
Location:
Newton
Industry:
Hospitality
Year Founded:
2012
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Not Incorporated
Description:
The Maytag Mansion will be a new start-up business that will offers 4 revenue sources - complete wedding events/planning, corporate parties/fundraisers/reunions/events, luxury vacation home rental and individual bed and breakfast room rental. All 4 sources are critical to making The Maytag Mansion a success and will help smooth out any seasonality of the business. The property was built in 1958, was built by the Maytag family, is in good condition, but needs some updating. It is a gated property, has a long driveway, circle drive and is set up for a bed and breakfast type of business with each bedroom having its own bathroom. The property is located in Newton, IA, just 30 min from the Des Moines metro.
Over 3200 weddings a year are done in Polk County/Jasper County alone, with the average wedding costing over $20,000. Awesome marketing opportunities of getting married/having a reception in a "mansion". Once in a lifetime opportunity for most wedding couples.
Owner has great credit (over 800 credit score), over $150k to put towards the business and has 9 years of college education in the areas of business, finance, accounting and management. Looking for $800,000 in funds to purchase the property, remodel, buy furniture and market the property. Estimated 2nd year revenues are over $300,000 once wedding events can be booked. If you are an investor who likes this opportunity but unwilling to provide the funds, my bank said they would provide the loan as long as there is a cosigner with liquidity for the loan.