I realize you're busy, so I'll give  you a few bullet points of our needs. Our website has a quick video of our product. It explains it better than trying to explain in an email. In Short, people steal millions in towels and we’ve created the solution to prevent towel theft, its saving companies thousands.

Where we're at;

1. Seeking $2M for growth capital

2. In 2014 revenue was only $260K. Our EBITDA is nearly break even.

3. So far in 2015 $198k

3. Current debt $700K from friends and family

4. We are an early stage company (6 years)

5. Our performance for 2015 is nearly 100% growth in 2014

Why invest in Towel Tracker? 

1. Currently in 19 location including Wyndham in Disney and double tree hotels. 

2. The vice president of Global opoerations of Hyatt Hotels contacted us on 5/15/15 and they want to test 2 units. They are visiting one of our locations on 7/7/15. They want to put in two units to start. They have 490 locations.

3. We did a trial run at a local LA fitness and saved them $5k a month in towels. They have 600 locations. Once we gave them our financials, they said we’re too new. Additionally, they said "sell 10 Towel Trackers to our competitors, and then we'll buy". 

Had we not been operating at a loss, we would have had 2 systems at each of their 600 locations. That's revenue of $39.6M just from LA fitness. $19.8M if each unit installed only 1. Each unit is $33,000, cost to manufacture unit is $16,000, Sales team gets paid 10%.  

3. We sold Wyndham corporate, but once again, they asked for our financials and then simply stopped responding. This is despite Towel Tracker being in non-corporate Wyndham hotels such as Walt Disney World’s Wyndham Resort.  

4. DOE - Department of Energy is currently doing a trial run at their nuclear facility. Last week we received their down payment. It takes 60 days from sign of contract to plug in. Their unit will be installed in June 2015. They will purchase 15 units if our products ROI will be less than 5 years. Our analysis shows their ROI will take only 8 months to pay off.

 

5. We are in AVI resort in Las Vegas, NV, they hired all new management and that new management said "we don't need that towel tracker" they unplugged it and called us in 3 days saying "how do we get this Towel Tracker back online, it's crazy how many towels we are losing". 

Bottom line...Towel Tracker is a solution to a problem and we’re gaining ground, but slowly!

Why we need an investment:

Our product is proving itself, but it's slow due to operating at a loss, which is common for startups, LA Fitness will put us in their locations as well as Wyndham Corporate once we are positive.

Future growth; it’s more lucrative for us to place the towel tracker into our clients locations at no charge and have their clients rent towels at a minimum fee rather than our clients buy the Towel Tracker at $33K, similar to coke machines. For this we need capital.

If this is of any interest, please give me a call and we can discuss the details further. 

Thank you for your time!

Best regards