Shawn Dawson
Long Beach, CA (USA)
Role(s):
Founder/Owner/Principal
NetFacilities, Inc.
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Startup
Location:
Long Beach
Industry:
Software
Year Founded:
2002
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
"S" Corporation
Description:
NetFacilities is an 8 year old start-up company that has been fully funded by the sole Owner/founder/CEO. The total investment to date exceeds $1.3 million dollars.
The company develops and sells business software solutions that are specifically geared towards facilities management, maintenance management, property management, and several other applications as well. For all intents and purposes, the software is like an accounting system for operations and facilities departments. It tracks work orders, assets and preventive maintenance, parts, labor costs, contractor costs, materials costs. Once implemented, the software is generally used in a client’s day-to-day operations. It becomes a necessary tool for the daunting tasks of minimizing costs, controlling risk, and overall maximizing daily efficiencies. Clients have access to hundreds of informative reports that help to make quick and decisive decisions.
The software is sold as a licensed subscription that renews annually. Many customers elect to sign up for 3 year terms, as opposed to just 1 year (minimum term). The price that is charged to the customer is based upon the number of facilities that will require tracking using NetFacilities' software solution. We are different in that, we do not charge a ‘per user’ fee, but rather a ‘per site’ fee and unlimited users. The company also includes all on-going support and training to its licensed subscribers.
The company reached its break-even point in 2008, with revenues just north of $500 thousand dollars. Today the company has hundreds of customers, and should see revenues exceeding $1.0 million dollars for 2011. It's important to note that the company experienced stellar growth through one of the worst economic times in history It is expected that as recovery takes place, the company's Performance will continue to improve.