Thank you for responding. I will elaborate on a couple things. We have just launched in the US, as we worked the bugs out in the UK, Australia, and Russia. We knew the US would be a tough market, so I think that was the right decision. That being said, we started by reaching out to local restaurants, but have found this challenging without working capital and marketing budget. However, once we launched the partner program, our traction increased.
After meeting with numerous resellers, word seemed to spread organically. For most of these resellers the opportunity is in the merchant processing. Most of the POS Software they have been selling, has recently been aquired by big merchant processors. We are not tied to any particular merchant processor, and have a third party that will connect us to basically any merchant processor that a partner chooses.
I say all this because we have a couple big potential partners that want to be able to buy hardware from us as well. One of these has a plan to place 1000 restaurants inside of a year. We are still in negotiation with these partners, and simultaneously wanting to continue to make a direct push to restaurants. This is where I believe we could benefit from having the hardware on hand.
In order to offer competitive solutions, I believe we need to offer the hardware with no upfront, as opposed to having them buy the hardware from us as a part of the start up cost. I do not know right now how many units we would need to have on hand. This would be for a pack ship and deliver online ordering.
Any suggestion on what steps information I should gather to come up with a good funding number?
Sorry to be long winded, but wanted to paint a little better picture. Thanks again.
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