steve FRYE

Huntington Beach, CA (USA)
Role(s):
Founder/Owner/Principal

freyfurniture.com

Find More Startups Startup
Location: Huntington Beach
Industry: Retail/Clothing
Year Founded: 2005
Number Employees: 1-10 people
Business Stage: Growth (profitable)
Entity Type: "S" Corporation
Description: (URL removed) ("Company") was created in Dec. 2005, for the purpose of selling home furnishings (Beds Sets, Dining Sets and Sofa's) throughout the Continental U.S. The Company was founded by Steve Frye, principle shareholder, and has been profitable since its inception. Strategy and Objectives. The Company is aggressively planning to expand from its current position as a western US regional Internet Home retail furnishings seller to a national level Company within the next six to twelve months. To achieve a large national presence, the Company is seeking 1st round growth funding, max. amount of $100,000.00 Products. The Company’s webstore, located at (URL removed), currently has over 5,400 products for sale, primarily bedroom, living room and dining furniture. Most products are mfg. in China and South East Asia and constructed from Quality, durable Malaysian OAK and other Hardwoods. Pricing and Margins. The Company's Retail Pricing ranges from 15-30% less than our other regional online completion and from 30-50% less in retail cost than our national Internet based competitors. Net profit is currently 34%. Market Strategy: primarily focus on creating and implementing a newly designed “Web” Store, and: A) Feature 70-100% more products than the current WebSites capacity. B) Provide customizable order options for the customer, now available only on a limited basis in the current Web store. C) Aggressive SEO Search Engine Optimization (Keyword programming) which will give the new Webstore 1st to 2ndpage rankings on All the major Search engines such as Google, Yahoo, AOL, Alta Vista, etc. D) Provide advertising banners on social media sites such as MySpace, Twitter, Facebook, and You Tube Sites. Competition and Market Opportunities The Company plans to acquire a significant share of the national market based upon: 1. The Company's advantage of being “open” 24/7 with the ability to have virtually unlimited products vs. the “Physical” locations which have expensive show room-galleries, restricted opening hours and space limitations resulting in a limited number of products that can be put in those type of stores. 2. Gaining a large presence in a growing national internet furniture market that over the next 5 years will explode from its' current level of 5% of all sales to 45% of total furniture sales made to the 20-45 yr. old buyer demographic, which prefers to purchase such goods on the Internet. 3. Taking advantage of our Southern California based proximity to the Asian import furniture market to which the shortest port of call to the mainland US is Los Angeles and Long Beach thus eliminating the additional cost of freight, transportation, warehousing, labor and insurance that is experienced by all mid-west or East Coast fixed location AND Online retailers. 4. Providing other value added services such as white glove deliver services and financing options from 90 day plans to 60 month same as cash with no credit check required. Management. Steve Frye, CEO, is also the current Mgr. of Operations and oversees the technical and marketing development of the Company. During the next 12 moth expansion period,Mr. Frye has identified and is prepared add key sales and Adm. Support to insure the continued success of the Company from a custom service based philosophy. Revenue Growth. The actual gross annual earnings for the previous 12 month period, effective Jun 2011 was 118k. Net yield was 34% or $40,000 dollars. Anticipatedt revenues for FY2012 are 3x FY2011 or 120k. USE OF PROCEEDS The net proceeds to be received by the Company from the sale of the shares offered are estimated to be used as follows: % Item 85% *Marketing/SEO Campaign/Craigs List Posting Program(s) 15% *Website Development (SEO and programming improvements) 100% Total proceeds Exit Strategy By end of the FY2014, The Company anticipates entering into a 504D small cap public offering, Joint Venture, or any growth or sale opportunity that maximizes the ROI for it's shareholders.