Kevin Rielly
4 Arlington Road, MA (USA)
Role(s):
Founder/Owner/Principal
Upper Deck Training
Find More Startups
Startup
Location:
4 Arlington Road
Industry:
Retail/Clothing
Year Founded:
2006
Number Employees:
1-10 people
Description:
We opened up in February of 2006. Our 2007 revenues grew at a rate of 50% over 2006, and 2008 is on a growth rate of 16% over 2007. This growth has been maintained mainly by word-of-mouth, as we do very little marketing. With some marketing dollars the growth can easily be double what it is now. We are on pace to possibly break-even for fiscal year 2008 as we've had losses in both of our first two years. When we started the business it was done mostly with borrowed funds, banks, home equity loan, and eventually credit cards. As a result of the credit cards my credit has taken a hit which makes it impossible to refinance. The debt is too high and an attractive alternative is to bring in an equity investor, reducing the debt.