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They could get the financials in there. great pitch. this is our first elevator pitch that s been accompanied by music. i m one of the 88%. you got me. you have one customer, but let s see what the investors think. let s start with you. how was his pitch? did he include everything? his pitch was good. he talked about the 88% of people who would love to play an instrument. quantify the market size, and further i would need more information on customer acquisition. how are you going reach those people? on line, off line, through stores? good. if we have a meeting, i ll get you all that information. and the 88% is 88% of the adult population in the united states. that s over 200 million people, potential market. all right. gene, what do you think? first of all, i cheated a little. we were talking beforehand. john anderson from yes, he was playing the strum stick. it s on the web site. i m like a huge yes fan. i ll tell you i m sold on a meeting right from there, okay? one th ....
You finger one string and strum all three. it sounds great right from the beginning. and there s no wrong notes. we ve sold 65,000 strum sticks in since we ve started making this instrument. and we ve sold in music stores, gift stores, and catalog stores. it s great for families, great for kids. in fact, it s so easy even adults can play. 88 people in the u.s. wish they could play a musical instrument, that s from a gallup poll. the strum stick is a perfect instrument for that vast untapped market. if you go to our web site, strumstick.com, you can see passionate testimonials from our customers. and we re looking for a half million dollars to expand our marketing and our sales. this is expansion of an already successful business and two to three-year payout. big roi in the next year. all right, bob. i wanted to let you finish so ....
Most used to, is revenue sharing. you actually get something back if you choose to invests in a company. okay. how do you do that? there s a web site? it s called pro-funder.com. there aren t a lot because of regulatory reasons. they only deal with incorporated businesses. second, come up with your idea. i have an ecodry cleaner, i want to go to five locations. you want to write up your fundraising pitch to put on the web site. one of the big things you have to sort out is a term sheet. and basically that s what do i give you? you give me $1,000, what do i give you? in this case it s a portion of revenue. the maximum time period is five years. i could say, if i raise $10,000, i m going to give 10% of my revenues to my investors for three years. and that s how it works. when i say i m going to take money from you, i say, okay, you re going to get 2% of my revenue from 2012 to 2014? there s the risk for the investor, right? there could be no revenue. this couldn t be might no ....
We were talking about you ve got experience, others others. if i m going to invest with you and meet with you, i want to meet with you, as well. strum stick is good, you re good. i d take the meeting. and i suppose you would, too? i would take the meeting even based on the fact that he sold 65,000 units. that means there s traction on the business. or based on the fact that he sarajevoinat that he serenad you with his hitch. nice to meet you. nice to meet you, too. if you would like feedback from our panel on your chances of getting interested investors, send us an e-mail. the address is [email protected]. please include a short summary of what your company does, how much money you re trying to raise, and what you intend to do with the money. somebody watching might be interested in helping you. it s time to answer some of your business questions. divia and are with us again. the first sdquestion is from th ....
The low end, $100, on the site. at the high end, they give guidance on compliance. one of the advantages is they ve got templates for term sheets. entrepreneurs go term sheets, no clue. there are examples that you can use. this is such an interesting idea. we talk so much on the show about getting friends and family to invest. but what this does, it creates a way to do it that makes sense. and it s formal and legal and it does a good job. profunder.com. thank you very much, bruce, appreciate it. we recently met dozens of small business owners at the national association of music merchants in california. we brought a unique product to our elevator to see if he can strike a chord with our panel. hi, i m bob mcnally. hey, bob. i designed the strum stick for people who don t play anything. i ve been designing instruments for 30 years, and i made the strum stick so learning could be easy and fun. ....