Angel investor

Do we have any investors among us? I am interested in opening a retail/ medical supply shop in my area. My gf is very savvy in creating concepts and how your investment would be returned. I’m just wondering if this is a possible thing. There is a great need for a storefront that will supply the update info for people in need of proper supplies. My gf also works with clients that need these kinds of services. I just need the space and the help with capital.


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If you're looking for investors I assume you have a business plan and a presentation on what you're going to spend the money on?

(EDIT: On re-read, I notice that you didn't say "diaper store," but rather were referring to "medical supply." But this is in the Diaper Talk forum, so...I think we all know what you meant. )

Curiously, what makes you think that there's a need for a brick-and-mortar diaper store in your area? I would be very skeptical. Diapers are inevitably cheaper online, and people are embarrassed to buy them in person. At the same time, the (often) elderly population who's most in need of diapers is getting increasingly tech-savvy, and will be increasingly disposed to ordering them. Institutions like hospitals and nursing homes are going to order them. ABDLs are scarce, and are used to ordering them. If your prospective customers aren't ordering their diapers already...why not? Do you know? Is it a good reason? Or would you mainly be capitalizing on other people's poor planning, ignorance, occasional emergencies, etc.? That might work for a little while, but...

In short: Do you know who (and why!) your customers are, both now and in the future? Are you truly certain that they exist in the numbers needed to support your stocking products, leasing retail space, and (still) profiting? Advice from a girlfriend really isn't enough. This is stuff for deep thought and research.

And your funding source would probably be a bank, not an angel investor. Investors usually want to hear about new products and inventions, and they expect a percentage of the profits. You're just after a loan with an interest rate. And if you can't successfully pitch your business idea to a bank, consider that it might not be a good idea after all. Or you haven't done enough homework to prove that it is.

Not to be negative or anything.

I get how, to an ABDL, running a diaper business would seem like a great thing. Ask yourself, though: Why isn't somebody already filling the need you describe?

There is a need for education on proper products in this area. I frequent a brick and mortar store that carries ATNs as a premium brand and have had some talks with some of the customers that over heard me educating the rep there. I’ve showed them the premium products available. These people would rather pick up in store at their convenience and the likes of Northshore, Abena, and even ABU simple diapers just aren’t available in this area unless you have them shipped. Also my gfs clients are using store bought pull-ups and are leaking all over their beds. If I had a business I could educate these patients families and get them the proper products for what they need. It’s all about perspective. The store in Fort Meyers IN does very well for themselves doing exactly what I would like to do here in MO/IL.


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squishypants said:

There is a need for education on proper products in this area. I frequent a brick and mortar store that carries ATNs as a premium brand and have had some talks with some of the customers that over heard me educating the rep there. I’ve showed them the premium products available. These people would rather pick up in store at their convenience and the likes of Northshore, Abena, and even ABU simple diapers just aren’t available in this area unless you have them shipped. Also my gfs clients are using store bought pull-ups and are leaking all over their beds. If I had a business I could educate these patients families and get them the proper products for what they need. It’s all about perspective. The store in Fort Meyers IN does very well for themselves doing exactly what I would like to do here in MO/IL.

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Click to expand...

I hear ya. The trouble is, once people are "educated," you're out of the loop! You really have to wonder: What is the ongoing value that you're adding? If there isn't ongoing value, you're dead. Showing people that premium products exist is definitely not a business plan, and is very much a "double-edged sword." Yes, there may be the odd person who insists on buying from a brick-and-mortar store, but...it's really not enough to know that. You should wonder: Why do they prefer that? Is it just some really old person who finds computers scary, or do they have a reason that you see applying to younger or more tech-savvy people too--and well into the future? Yes, there are a lot of old people who are scared of computers, but they're (literally) a dying breed. Pretty soon, this Amazon generation is going to take their place, and then where will you be, business-wise?

Brick-and-mortar retail is a very scary place to be without a killer business plan these days. Cloning another store only works if you can clone the customer base too. Seems very risky. It's just wayyyyy too easy to come up with reasons why it's better and easier to buy this stuff online. Indeed, once you know what works for you, the only good reason to buy brick-and-mortar is because you didn't place your order in time and you ran out. After that, you're (probably) just paying more.

You mean Ft. Wayne, IN. Love that store.

https://thediaperladies.com/

Certainly not an investor here, but they have admitted that catering to us has increased business. There are two sides to the online ordering thing. Certainly there are those who have no problem having product shipped to them, and then there are those who do. I have been there a couple of times and gotten sample packs from them because my semi-understanding spouse who controls the finances (by my choice and blessing) would see the credit card transactions (and possibly be home for the delivery) for online orders. When I spoke to them (they are awesome), they apologized that their size medium stock was way down because someone drove from Michigan and bought most of their stock out. I personally think there is definitely a market for brick-and-mortar stores. If I had the freedom/balls to do it, I think it would be great.

EDIT: Also, I must say there is really something to being able to be yourself to some strangers and have them at the very least be sympathetic to your needs. Also, they do events that draw people from very long distances. I imagine they sell a little merch during said events. I'm not saying all brick-and-mortars work, but again, they seem to be pulling it off in style.

Before I would want to even read a business proposal, I would want to be "hooked" by your sales hook. What is it that your brick-and-mortar store can offer that can eclipse The cost, convenience, choice, and privacy of ordering on line? What is it that will get a customer into your store and keep them coming back, even though they will have less choice, convenience, privacy, and possibly a higher price (including their time and travel expenses (gas/buss/taxi) in their cost) ?

A customer would have to be "hooked" before they ever went to your store, so what's your hook? What gets them out of their warm home on a cold rainy day and in through your front door?

If you want to hook an investor into actually reading your business plan, you'll have to start by showing what makes your store worth it to the customer.

This isn't meant as an insult, because I would love to see you make it. However, the fact that you didn't try to hook us in as investors with a sales pitch that made us want to throw large wads of cash at your brilliant plan in the first 3 sentences of your post, or anywhere in your first post on the subject, makes be think that you aren't much of a salesman. That is a skill you can learn. But without you showing mastery of that skill, I don't have confidence in your ability to sell a product that is easier to get without your store.

I’d like to have private areas for customers to have hands on time with certain products. Maybe even a private entrance for those that want to be discrete. The idea is to offer premium products that aren’t available In the area. A lot of people that need incontinence products are afraid to buy online when they have no idea what they are going to get. When they can come in and view the features of a product and see the difference compared to pharmacy bought cheap products it’s much easier to make a choice. I will offer online ordering as well. There is medical west in my area and they seem to be doing ok business wise. I would carry other medical products as well like catheters, diabetic clothing, chairs, wheelchairs, anything medical. I see people on here all they time saying they wished they could go to the store and buy diapers. Some people don’t want to take a risk of having things delivered. People like to see what they are about to purchase before they spend their money.


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This is really more of a venue for a small-business loan through a bank than an “angel investor”. There’s nothing particularly innovative that needs to be developed here, just a tried -and-true retailing business model.

One thing I would like is to be able to have a frank discussion with someone who is knowledgeable and who will answer my questions without making it awkward. Diapers and incontinence related subjects are hard to discuss with anyone, simply because their first instinct is to recommend the least convenient method of management possible. (IE Pills)

I’ve been wearing diapers for 20+ years. I’ve tried a wide range of products and put them to the test. Wearing every brand I’ve tried for an extended amount of time in all sorts of scenarios. I feel like I can have a discussion about a product just like it is a pair of pants. I enjoy testing new products and talking about them 1:1. Writing reviews online is a whole different animal and is not my thing. Online reviews and about opinion. Talking 1:1 you can find out the customers needs and find what would work best for them. Having exclusive to online products on a shelf that can be shown and explained in great detail is a defined need. This area obviously has a customer base because there are already retail spaces that have incontinence products. They don’t carry premium products tho. With a bit of ambition and marketing I will take a business like the diaperladies to the stars in the STL area. I’d like to do it sooner than later so I am asking for someone to help with an investment. Some of you might think a storefront won’t last. Well there are many that are successful around the US and maybe even the world. So this is a good thing to invest in.


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Whether or not this idea is serviceable, I don't think you'll get funding through individual investors. This is a job for a bank or credit union.

Regardless of where the funding comes from though, unless you know the investor personally or there's some other special circumstances, you'll generally need a lot of evidence that you've really crunched the numbers and thought things through before anyone is going to cut you a cheque. Banks (and most investors) are going to want a detailed business proposal, which depending on the institution might need to include things like a market analysis, profit projections, legal and insurance requirements, etc. It's one thing to have what you think is a good marketable idea, it's another thing entirely to actually do the research and crank out enough objective evidence for someone to give you money for it.

Most of what you've posted is hunches and vague concepts. To obtain funding, you're going to need to back it up with actual numbers and dollar values.

This gives a good idea of what a business plan generally looks like:
https://www.bdc.ca/en/articles-tool...ness-guides/pages/business-plan-template.aspx

The concept works in other smaller markets so....I’ll just have to save money and make it happen.


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Go on Shark Tank on CNBC they got deep pockets.