Ros & Diana Hull

Vandalia, MO (USA)
Role(s):
Founder/Owner/Principal

Ros' Bowl Inc.

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Location: Vandalia
Industry: Entertainment
Year Founded: 1979
Number Employees: 1-10 people
Description: We currently own a small 8 lane bowling alley. We want to expand the business to 12 lanes. Our main concern right now is that our current lender started foreclosure proceedings. Our current note was a balloon note, that ballooned 2 weeks ago. The note had the business plus our home used as collateral. In 2002 the business appraised at $250,000, current value approx. $300,000. The business is here to expand and improve our gross revenue by $50,000 to $120,000. The current due amount on the note is $97,000. If we are able to raise $200,000, we can refinance and modernize the existing business. If we raise $500,000, then we can refinance, expand by 4 lanes plus other features, modernize the current facility and bring it extra revenue by $120,000 per year. We currently do about $140k per year now. Due to a disability, I was not in the business much last year. And it has hurt the business. I have since fired everyone. Accountant made too many errors which we have to resolve (this is going to take some time and a little financing), fired her and hired another. We know that we are sitting on a gold mine waiting to be struck. My goals are in the next 2 or 3 years, to be able to show that bowling is a viable venture, and build 2 - 16 lane centers in towns/cities approximately 30 miles north and west of us. If this is something that you can help with, please advise, as our time is short to save everything. I have contacted our current lender to see about stopping the foreclosure procedure, but as of today, have not heard from them. Thanks for your time. Ros & Diana Hull, owners Ros' Bowl Inc. Vandalia, Mo. 63382 Ph: [<a href="(URL removed)">send me a message</a>]