LLC vs. S-Corporation: Which is Right for Your Outdoor Adventure Business?

Starting a business in the outdoor adventure industry, whether it’s paddle equipment sales, guided tours, or eco-retreats, requires a solid legal foundation. Choosing the right business structure—indiana llc vs s corp—is crucial for protecting your assets, managing taxes, and ensuring long-term success. Here’s a comparison to help you determine which structure might be best for your outdoor business.

1. Understanding the Basics: LLC and S-Corporation

Both LLCs and S-Corporations offer personal liability protection, but they differ in taxation, ownership, and management structures. Here’s a brief overview:

  • Limited Liability Company (LLC): LLCs are known for their simplicity and flexibility. Owners, known as members, have liability protection, and profits are generally passed through to members’ personal tax returns, avoiding corporate tax.
  • S-Corporation: S-Corporations are also pass-through entities, but they must meet specific IRS requirements and limit the number of shareholders. They can offer tax benefits by allowing owners to split income into salary and dividends.

The right choice depends on your business goals, tax preferences, and operational needs.

2. Taxation: LLC vs. S-Corporation

One of the main differences between LLCs and S-Corps is taxation. For outdoor businesses, tax savings can help fund equipment, marketing, and growth.

  • LLC Taxation: LLCs have flexible tax options. By default, single-member LLCs are taxed as sole proprietorships, while multi-member LLCs are taxed as partnerships. This pass-through structure means profits are only taxed once, on the owners’ personal income.
  • S-Corporation Taxation: S-Corporations also offer pass-through taxation, but with a key benefit: owners can take part of their income as salary (subject to payroll tax) and the rest as dividends (not subject to self-employment tax). This split can reduce overall tax liability.

For outdoor businesses with substantial profits, an S-Corp structure may offer tax savings, but it comes with more administrative requirements.

3. Ownership and Structure Requirements

Understanding ownership and structural limitations is important for businesses that may seek growth or partnerships down the road.

  • LLC Ownership: LLCs allow for unlimited members, including individuals, corporations, and even foreign entities. This flexibility is beneficial if you plan to bring in investors or expand partnerships.
  • S-Corp Ownership: S-Corps are limited to 100 shareholders, all of whom must be U.S. citizens or residents. S-Corps also cannot be owned by other corporations, partnerships, or LLCs. For small, family-owned businesses, this limitation is often manageable, but it may restrict larger expansion plans.

For an outdoor adventure business with a vision for growth or international partnerships, an LLC may be more suitable.

4. Operational and Compliance Requirements

LLCs and S-Corps differ in terms of operational formalities and compliance, impacting your day-to-day business operations:

  • LLC Compliance: LLCs are generally easier to manage with fewer requirements. Most states require an annual report, but beyond that, LLCs don’t have to hold formal meetings or maintain extensive records.
  • S-Corp Compliance: S-Corps must meet specific IRS requirements, including electing a board of directors, holding annual shareholder meetings, and keeping detailed meeting minutes and corporate records.

If your outdoor business operates with a small team or minimal staff, an LLC’s simpler compliance requirements may save time and resources.

5. Liability Protection for Outdoor Businesses

Both LLCs and S-Corps offer liability protection, shielding your personal assets from business-related lawsuits or debts. For outdoor adventure businesses, liability protection is crucial given the inherent risks associated with outdoor activities.

  • LLC Liability Protection: LLCs protect personal assets from liabilities related to the business, making them a popular choice for businesses offering high-risk activities like paddling tours or equipment rentals.
  • S-Corp Liability Protection: S-Corps also provide personal liability protection, ensuring that shareholders aren’t personally responsible for the business’s debts.

For both structures, carrying comprehensive business liability insurance is essential to fully protect your assets, especially if you’re leading guided excursions or renting gear.

6. Administrative Flexibility and Management

Choosing between an LLC and S-Corp may come down to how you want to manage the business:

  • LLC Management: LLCs allow flexible management structures. They can be member-managed (where owners run the business) or manager-managed (where an appointed manager runs daily operations). This flexibility is ideal if you want to focus on the hands-on aspects of your business.
  • S-Corp Management: S-Corps operate with more traditional corporate structures, including a board of directors and officers. This structure can add credibility if you plan to attract investors or grow into a larger enterprise.

For smaller, owner-operated outdoor businesses, an LLC may offer a simpler management structure with fewer formalities.

7. Cost Comparison

Cost is another factor to consider when choosing a business structure. Both LLCs and S-Corps have initial filing fees and annual fees, which vary by state.

  • LLC Costs: LLC filing fees range from $50 to $500, depending on the state. Annual fees or reports are typically required, but these costs are usually lower than for S-Corps.
  • S-Corp Costs: In addition to LLC fees, S-Corps incur additional costs for payroll services, filing requirements, and potential legal fees for setting up corporate governance structures.

If budget is a primary concern, starting as an LLC and later electing S-Corp status can provide flexibility as your business grows.

Final Thoughts

Both LLCs and S-Corporations offer valuable advantages for outdoor adventure businesses, but the best choice depends on your business goals, tax needs, and preferred management style. By carefully evaluating these differences, you can choose a structure that supports your growth while protecting your assets. BackWaterPaddles.com is here to support entrepreneurs with resources and insights for building successful outdoor businesses.

Assassin Kayak Paddle Ready For Battle

Finally the Assassin Kayak Paddle has arrived…just in time to do battle!  With the onslaught of  trade shows, kayak fishing tournaments, new outfitters, novel products, social media…it s critical to purchase wisely.  It is time to prove your paddle gear!

Paddle sports continues to grow at an exponential rate. Performance based equipment, gear and accessories are constantly being developed and introduced to meet the demand.  Overwhelmed with choices, sizes, colors, prices, status, effectiveness…the money is flowing and lines are a tangling.  It feels like the kayak gear wars are on the verge of beginning.

Behold, the ONLY paddle ready for battle.  The arrival of the Assassin Kayak Paddle shows who is serious about winning!  It is here, and waiting for your command.

NEW: Assassin Kayak Paddle video showing the Assassin in action!  Produced by Yak Gear.

The patented “hook and teeth” blade design not only creates the feel of a warrior, it also proves itself on the battlefield!  With the Assassin Kayak Paddle in hand, you feel invincible on the water!

The hook allows for grabbing, pulling and snatching while the teeth provide positive purchase when shoving or pushing.  Need to get in and out stealthily, retrieve a treed lure, grab your line, snatch floating gear, pull yourself to the dock, push off the rocks, shove a gator away…whatever you require of it, the Assassin Kayak Paddle has your back.

The Assassin Kayak Paddle simply outperforms the competition.  No other paddle on the market today can match their versatility, and value.  We challenge the competition to go “paddle to paddle” in a heads up performance test.   Can your paddle survive that?

A carbon fiber shaft, adjustable in 10 centimeter increments, ensures you have the correct length for your paddle style and kayak type.  Currently 230cm to 240cm and 250cm to 260cm adjustable shaft lengths are offered.

Another feature to add to the “overall badassery” of Backwater Paddle Company’s products are the blades are molded with raised graphics.  No decals, no silk screening, no appliques to wear off…straight up, everyone will always know you have a Backwater Paddle in your arsenal.

For those newbies in the paddle sports market, the legendary Assault Hand Paddles led the way in the development of the Assassin Kayak Paddles.  These lightweight and compact hand paddles singlehandedly revolutionized paddle sportsmen’s stealth and mobility.

Get your Assassin Kayak Paddle and Assault Hand Paddles today, knowing tomorrow, the “battle on the water” is to your advantage!

MSRP $159.00  Order your Assassin Kayak Paddles today via: store.backwaterpaddles.com or visit Yak Gear at www.yakgear.com 

The paddles will ship from Houston, Texas via Yak Gear, the new Backwater Paddle Company distributor.

Backwater Paddles…by far, the most versatile paddles ever designed!

ICAST 2017 A Success for Backwater Paddle Company

The ICAST Show is the worlds largest fishing and boating trade show in the world.  This year it was held in Orlando, Florida.  Thousands of water sport manufacturers, distributors and vendors arrive for three days to see all the latest gear designed and available for the future.

Backwater Paddle Company has enjoyed a successful and productive year.  It was 2012 when Backwater Paddle Company last went to ICAST in Las Vegas and experienced this much excitement with the introduction of the plastic injected Assault Hand Paddles.

The concept of a hand paddle with a patented “hook and teeth” blade design revolutionized stealth and mobility for the kayak angler and paddle sportsman.  It was just a few years later when the paddle sports community was demanding a full size paddle with the same properties.

Spring 2017 and the licensing of Backwater Paddle Company by Yak Gear, the largest paddle sports distributor in the nation, provided a much needed injection of new blood and company direction.  Bill Bragman, Yak Gear owner, promised to move Backwater Paddle Company forward under his professional tutelage.

The Assassin Kayak Paddle project had been diligently looking for funding, but trying to identify a paddle sport investor was extremely daunting.   Many avenues were explored, many doors were shut, but persistence always pays off.

Bill Bragman, true to his word, accepted the challenge and took over the Assassin Kayak Paddle project.  Within months, Bill had secured a manufacturer and had four Assassin Kayak Paddles available for beta testing, and on display at the ICAST Show.

At ICAST 2017, Yak Gear provided Backwater Paddle Company with a portion of their booth to display and promote the new Assassin Kayak Paddles.  Yak Gear, being the largest paddle sports distributor, had continuous traffic through their booth.  Bill and his crew were always engaged with prospective customers, showing, demonstrating and promoting their latest gear, equipment and accessories.

However, the buzz is, at least among paddle sportsmen, that paddle sports is actually an afterthought for the ICAST Show.  It is truly not a paddle sports show.  Kayaks are technically not boats, they have no motors, no registration…and since anglers fish off these platforms, let’s provide them a corner at the party.  The shine has always been elsewhere at the shows.

Despite the Assassin Kayak Paddle not winning the new product award for boating accessories…new, or redesigned kayaks did make a small splash.  By the way, a bucket by YETI won the boating accessories award.  Yes, a bucket!  The badass, patented and innovative paddle design lost to a YETI bucket!  Just goes to show that ICAST has a lot of room to grow.

Now the show is over, it has been a truly rewarding experience.  Bill Bragman and his Yak Gear crew, put together an awesome display.  The crew was professional and very passionate about all the products they chose to represent.  The attention on the Assassin Kayak Paddles was thorough and impressive.  Many thanks to Yak Gear!

Next…after a few weeks of beta testing the Assassin Kayak Paddle, first run production is expected for September 2017.  Once the manufacturing process has begun, orders will be received for the first new and revolutionary paddles to hit the market!

Assassin Kayak Paddle specs:

  • MSRP $169
  • Extremely durable ABS plastic blades, black matte finish
  • Patented “hook and teeth” blade design, with raised graphics
  • Hook for grabbing and pulling, teeth for pushing and shoving
  • Carbon fiber shafts, adjustable in 10cm increments
  • 230 –  240cm, and 250 – 260 cm lengths
  • Mid to high 30 ounce weight, depending on length

Assassin Kayak Paddle…the most versatile paddle ever designed!

Backwater Paddle Company Signs Licensing Agreement With Yak Gear

Backwater Paddle Company’s Assassin Kayak Paddle project is finally coming to life with the assistance of Yak Gear.  Bill Bragman, Yak Gear owner, proposed a generous licensing agreement to manufacture and market the Assassin Kayak Paddles and future paddle products (learn details about such agrrements at https://swiftbonds.com/bid-bond/).

Assassin Kayak Paddles

Yak Gear is the largest paddle sport distributor in the nation…with some 2000 dealers available.   Located in Houston, Texas, Yak Gear has been providing for the paddle sportsman since 2005.

It never happened.  Adventure Capitalist, the CNBC TV show that Backwater Paddle Company auditioned, did not select the Assassin Kayak Paddle for its reality based investor program.  We are not sure what prevailed in the selection process, except that our product was not accepted to participate.  No hard feelings!  We simply moved on to big and better things!  Yak Gear!!

Like everything in life…timing is paramount!  Fortunately for Backwater Paddle Company, Bill Bragman and his crew at Yak Gear were introducing their own branded paddle line.  Yak Gear had committed to manufacturing a base line paddle for the introductory paddle sports market, to be distributed by their dealers.

As todays kayak anglers hit the water in massive sit on top hybrid kayaks, many are equipped with pedal, or electric motor drives.  These anglers are requiring longer and more versatile paddles to successfully maneuver or finesse their boats into final position for proper bait presentation.

Yak Gear felt the Assassin Kayak Paddle’s patented “hook and teeth” blade design could fill that void of “specialty paddles” required for the more seasoned paddle sportsmen.  Bill Bragman recommended using carbon fiber adjustable length shafts with lengths adjustable in 10cm increments.   Basically in the range of 240cm – 250cm and 250cm – 260cm paddle lengths.

Yak Gear is shooting to have the Assassin Kayak Paddle available for the ICAST Show in Orlando, Florida this July 2017.  MSRP $159.95

Yak Gear will also take over all manufacturing and distribution of the legendary Assault Hand Paddles.  Eventually Backwater Paddle Company dealers will be contacted by a Yak Gear representative in placing future orders for our hand paddles.

Backwater Paddle Company will still maintain its web store, as well as eBay and Amazon stores.  Assassin Kayak Paddles (when offered) and Assault Hand Paddles will be available to our customers at retail prices.

Backwater Paddle Company will always solve problems, think outside the box, and continue to “revolutionize paddle sportsmen’s stealth and mobility!”

Thanks for the continued support of our company and its products!

Paddle on my friends!

Assault Hand Paddle Review by BassGrab.com

Assault Hand Paddle Review

by Wesley Anderson of BassGrab.com

Product: Assault Kayak Fishing Hand Paddle
Manufacturer: 
Backwater Paddle Company
MSRP:
$29.95

Introduction
It’s always fun working with smaller companies who have come up with a great fishing tool, and Backwater Paddles has done exactly that. The Assault Hand Paddle concept is simple – a paddle you can use with one hand that’s as sturdy as a rock. The team at Backwater Paddle Company definitely kept kayak anglers in mind when designing this hand paddle.

Assualt Hand Kayak Paddle

Features List

  • 22 inches long
  • 15 inch blade length
  • 6 inches wide
  • 12 ounces
  • Wrist Strap
  • Foam Handle
  • Carved out hook in the blade – used for grabbing fishing line, tree branches, etc.
  • Blade teeth for added friction when pushing off rocks

Testing the Assault Hand Paddle

Backwater Paddle Company advertises that you can use the paddle to maneuver your kayak while fighting a fish, and they’re exactly right. While holding your rod in one hand, you can use the other to paddle yourself around an obstacle or position yourself for landing a fish. Using the wrist strap makes it easy to go from paddling to reeling and back to paddling to make sure you’re keeping the line tight.

Not only is the paddle a useful tool when fighting a fish, it’s also a great way to get yourself out of various trouble you could find yourself in. How many times have you accidentally gone too shallow and gotten stuck? Don’t risk breaking your actual paddle, instead grab the Assault Hand Paddle. It comes with teeth on one end to help grip wet rocks and you’ll be able to push off and get back on the water. At over 1 cm thick, this paddle is as sturdy as they come.

Backwater Paddles will also replace your Assault Hand Paddle free of charge if you break it. They’ll just want to hear the crazy story of how you broke their paddle! To test its durability we smacked it on rocks, pushed off the ground with most of our weight on it, and threw it off a roof just for fun. It stood up to the test.

Finally, we had to make sure it was water friendly. What good is it to be sturdy if it’s heavy and probably sinks? Well, that would be wrong on both accounts. The hand paddle is lightweight and it floats. The water won’t be able to claim this tool that we’ve used our hard earned money on. Nope, this paddle is around for the long haul.

Backwater Kayak Hand Paddle Kayaking Near Trees
Pushing off a Rock with Kayak Paddle Floating Kayak Hand Paddle

Pros

Sturdy – We haven’t seen a sturdier hand paddle out there. This paddle will last you a long time, and if you ever break it they’ll send you another for free.

Floats – You won’t lose this paddle, especially if you go with the orange color. It floats and sticks out on the water.

Efficient – Controlling your kayak with one hand is the dream.

Price – $29.95 is a great deal for the paddle, especially with the 100% guarantee replacement warranty.

Cons

Storage – The only downside we found was there isn’t really a great place to store an extra paddle with easy access on our kayaks with our full gear load. That being said, this paddle is useful enough that we’ll come up with a spot for it.

Final Thoughts

The Assault Hand Paddle will be one of the most useful tools you’ll put in your kayak. It will definitely help get you out of tight places, and you’ll be able to stealthily move your kayak with one hand when you’re stalking fish and paddling. A kayak angler should especially consider adding this to their arsenal if they ever plan on fishing in current or wind. It is a game changer.

2017 Year of the Assassin

Santa's Orange Assault Hand Paddle

Santa’s Orange Assault Hand Paddle

From Backwater Paddle Company to all of our families, friends and fans…Merry Christmas and Happy New Year!!

To all of our overseas dealers, friends and fans…Feliz Navidad (Spanish), Joyex Noel (French), Buone Feste Natalaizia (Italian) and Froeliche Weihnacten (German)!!  Thanks for your continued dedication and support!

To say we are excited about the New Year is an understatement.  2017 promises to bring new adventures, new products and new attitudes!

Assassin Kayak Paddle

Assassin Kayak Paddle CAD photo.

Our Assassin Kayak Paddle project may have some legs going into the next year.  One of the potential investors, Adventure Capitalists, a CNBC TV show, has been in constant contact about the upcoming project.  We have Skyped a couple of times with the casting team director, provided product information almost weekly, and are just patiently waiting for the next step.

Basically the show is along the lines of Shark Tank, without the “pretentious bozos” who sit there, interrogate your idea and belittle your project, even before investment consideration.  Having seen the show numerous times, my warrior attitude would probably have me jumping across the table and throttling the first obnoxious investor.

However, Adventure Capitalist investors are avid outdoor sportsmen who actually field test your product in its intended environment.  After field testing, they sit the entrepreneur down, outdoors on rocks or stumps, and provide critical feedback and investment opportunities.

Supposedly, the filming of the show takes place in the January/February timeframe.  Not sure where it will happen…but we will take anyplace, and make it happen anywhere.  Failure is not an option!

From a logistics perspective, I have offered up Cocoa Beach, Florida as a potential filming site.  The perfect weather, easy access to water and availability of kayaks for filming the show may help persuade the producers.  Hopefully they will take the offer into consideration.

Backwater Paddle Company continues to expand its dealerships around the nation, and overseas.  We still acquire new dealers on a routine basis…a couple a month, or so.   We currently have around 110 dealers in the states.  Just picked up another Canadian dealer in Toronto.  When we are talking “dealers”…we are talking small scale outfitters, local paddle shops, family owned outdoor retailers and the ubiquitous mom & pop marinas/tackle stores.

Our corporate and product branding efforts have been relatively successful.  Our social media pages are always full of customer provided content.  That bodes well to our marketing efforts.  Until we can get the Assassin Kayak Paddles into the market, our attempts to provide inventory to the big box stores is a constant challenge.  Basically our legendary Assault Hand Paddles just do not provide enough leverage for the big box stores to create shelf space.

Creating shelf space and inventory for the big box stores has nothing to do with “liking or disliking” our company or product.  It has everything to do with their bottom line.  They have to have a high turnover of product on those few precious inches of shelf space to be remain profitable.

Unfortunately, our Assault Hand Paddles are typically used by a select few paddle sportsmen in the industry.   We are a “niche product” in the paddle sport market.  Kayak anglers, kayak fowl hunters, and kayak photographers make up the basic crowd.  Probably no more than 15% of the total market.  As versatile as they are, as badass as they look, as durable as they’re manufactured…our sales are nothing spectacular.  We are dealing with such a small market.

Now, when the Assassin Kayak Paddles come to market, we will have access to pretty much the whole shebang.  ALL kayak paddle sportsmen need a full size kayak paddle!  Our patented blade design will outperform the competition, look more badass, and cost the same.  They will sell!

Having this national dealer network already established is a precursor to the Assassin Kayak Paddles future success.  We will instantly be able to provide inventory to the paddle sportsman.  We will be able to provide packaged units of hand paddles and full size paddles, together, for a more powerful purchasing incentive.  A “performance package,” we’ll call it!  I believe once the big box stores begin to realize how successful our full size kayak paddles are, they will establish dialogue.

So, 2017 is coming quick.  This is the year Backwater Paddle Company explodes into the outdoor and paddle sports markets!  We are excited about the future!

Thanks for all your continued support!   Paddle on my friends!

Ed Halm

 

 

 

 

Poker’s In The Fire…The Assassin Kayak Paddle Project Continues

Assassin Kayak Paddle

Assassin Kayak Paddle left and right blades.

“Heavens to Murgatroyd!”…Snagglepuss used to say.  That was his famous surprise exclamation.  Snaggle-who?  1960’s cartoon?  Never mind…just act surprised!

Adventure Capitalist, Duck Dynasty and two other private equity investors are perusing the Assassin Kayak Paddle project.  Four proverbial “pokers in the fire!”  We are still moving forward in our endeavor to procure the necessary funds to bring this project to market.  Failure is not an option!

CNBC’s own  “entrepreneur meets investors” reality TV show, Adventure Capitalist has shown interest in our Assassin Kayak Paddle Project.  So much so, that we have already had an hour long Skype interview with the shows casting director.  Thumbs up!

The Adventure Capitalist TV show is new and they were soliciting outdoor adventure entrepreneurs to submit projects for their future shows.   What the heck did I have to lose?  Application submitted!  A month later, they are calling about the project!

Duck Dynasty on the other hand has been more of a “guerilla marketing” tactic, than anything else.  It is nearly impossible to contact any of the individual duck people with the layers of office security they utilize.  What the hell, I’ll just back door them.  I figured I’d send them six Assault Hand Paddles,  addressed to Willie, for the duck building crew to play with.  You know how bad-ass those hand paddles are, and if those duck guys get them…something HAS to happen!

I finally got a hold of JD Owen, Willie’s personal assistant.  He told me the Assault Hand Paddles were handed off to Justin Martin, their “new product” manager.  Martin, as he’s called on the show, is one of the duck call builders.  I want them to explore the possibilities the patented “hook and teeth” blade design has to offer.

At this point, I am still trying to establish dialogue with Martin and establish the whereabouts of those legendary hand paddles.  It’s duck season…go figure!  Done gone huntin’!!

We also have two other prospective investors, I assume they are private equity investors, who have solicited information about funding the Assassin Kayak Paddle project.  Out of respect, I will keep their personal information secured until we have reached some contractual agreement.  One is from the Ohio area, the other from the Tennessee area…both involved in the paddle sports communities.

I feel quite good about the Adventure Capitalist TV show.  Apparently from this Skype interview, the casting director edits together a short video presentation about Backwater Paddle Company and the Assassin Kayak Paddle for the CNBC producers.  I sent them our collection of YouTube micro-videos shot earlier this year.  The producers will then select the potential entrepreneurs and products for their future shows.  Shooting begins January 2017!  I feel we have a legitimate chance for the 2017 season!

Assassin Kayak Paddle

Again. I want to reiterate the fact that the table is still open!  If you know someone who wants to explore this investment opportunity before it closes, contact me soon.  Getting in on the ground floor plan now, will yield large returns in the future!

“Exit, Stage Left”…Snagglepuss exclaims when departing!  Snaggle-who? Check the interweb!

Paddle on my friends!

Ed

 

Assassin Kayak Paddles

Money, Money, Money…Assassin Kayak Paddle Still Working on Funding

It’s 2016…who the hell knew how hard it would be to get money together for a project?  Yes, the Assassin Kayak Paddle project is still waiting on funding.  The revolutionary kayak paddle that will change the way paddle sportsmen utilize their paddles, is still in financial limbo.  We are still $50,000 short of moving forward.

Money grows on trees…right??  The economy is growing…right?  Paddle sports is growing…right?  Then where is the money?  Where are the investors?

Assassin Kayak Paddle

Assassin Kayak Paddle prototypes showing left and right blades.

The money is definitely out there! However finding the right investor is the difficult part.  The Assassin Kayak Paddle project, as we know, will forever change the landscape of the paddle sports market.  We know the patented “hook and teeth” blade design, and the raised graphics package are “badass.”  We know the full versatility these paddles will deliver.  When fully introduced to the paddle sports community, we will shock the market!  We know this!

However, we have to find the right investor who believes in our project, and also knows this!

Again, finding the right investor is time consuming, and stressful.  Not all investors are created equal. Herein lies the problem in our paddle sports market.  Most investors are aligned with technology, communications, aerospace, software development and medical projects.  That is where the biggest, and most observable, growth pattern is reflected.  That’s where the big money goes.

Paddle sports?  Say, what?  Who invests in such a small market?  Compared to all the other investable big market projects that are available, why bother with the small stuff?  We are looking for that elusive niche investor.  All I can say is….remember our Indiegogo campaign!  90% of those crowd funding projects were NOT sports related!  Fortunately, there are investors who dabble in the sports market arena.

Identifying these sports investors, contacting them, establishing dialog, and eventually the “pitch” can be daunting.  First, you have to be fairly sure they are “water sports” investors.  Compared to, say…athletic and sports wear, motor sports, team sports, hunting, hiking and adrenaline sports, etc.  Every investor has their specialty, or favorite sport to indulge.  If anyone knows of one of these elusive “water sports” investors…please share!

We do have a couple “pokers in the fire,”  At this point, I’d rather not identify the potential investors.  Kind of jinxes the collaboration.  We will continue searching for these elusive sports investors and performing our due diligence.  As soon as we can lock someone down for the future, we will shout it out to the world!

Thanks for your continued support!

Paddle on my friends!

Assassin Kayak Paddle Project Still In The Works

Assassin Kayak Paddles

We are making progress in bringing the Assassin Kayak Paddles to market.  As you remember, we needed around $100,000 for the mold tooling, shaft purchase, initial manufacturing run, assembly and marketing.  Roughly 65% of the costs was for the blade mold tooling.

I know some of you are having a hard time digesting the $65,000 to make a mold…but the mold is 100% of our business!!  Our patented designed blades are manufactured with a pressure injection molding process.  These molds are extremely large, very sophisticated, highly detailed and labor intensive.  Without said mold…no plastic blades, therefore NO paddles.

Assassin Kayak Paddle

Assassin Kayak Paddle CAD photo.

We are in the process of working a deal with our plastics manufacturer, Peliton Plastics in Valdosta, Georgia.  Yeah…made in the USA!!  They have considered amortizing the mold tooling costs over future production runs.  Basically, they will up-charge us an extra couple of dollars for each blade manufactured, from which a portion will go towards paying down the initial cost of tooling the mold.

Having secured the “big end” of the project…we are not out of the woods yet!  We still need to raise at least $40,000 to $50,000 in cash to finish the project.  We need to import shafts, purchase drip rings, purchase materials for assembly and market the paddles.

So again I ask…”we are still looking for investors to finish the project.”  Getting in on the ground floor of this revolutionary paddle development is epic for investors.   Anyone has, or knows of someone who has, some cash “squirreled away” for a big investment…send them my way.  I will make their investment opportunity very lucrative!

We are half way there!!   The Assassin Kayak Paddles will revolutionize paddle sportsmen’s stealth and mobility!!  Failure is not an option!!  Find us the money!!

Paddle on my friends!!

Ed Halm

 

 

Crowd Funding Fail. Plan “B” For Assassin Kayak Paddles.

Here is the latest update regarding the Assassin Kayak Paddle project and our funding efforts.

Assassin Kayak Paddles

Well…so much for the crowd funding plan.  The Indiegogo Assassin Kayak Paddle project did not meet expectations.  We came up way short on our goal of $100,000.  Basically, we failed miserably!

Of course I accept all responsibilities for the failure.   I had no idea how much marketing was required to promote our new paddles to potential investors.  Marketing is money.  We spent around $4,000 on the project and received 3% funding.  We advertised on Facebook, Twitter, Kayak Angler and Adventure Kayak magazine newsletters, Paddling.net banner ads, and professional PR article writings.

Crowd funding has been around a few years.  However, now, like all things inter-web oriented, the whole crowd funding concept has become inundated with projects.  Most of which are simply designed on a whim to facilitate someone’s ego.  The process loses its attraction to serious investors.  It simply takes too long to separate the bullshit from the cream.

Now you have the “vulture crowd funding marketing companies” contacting you everyday your campaign is running.  They tell you how they will provide you the necessary contacts for your project to succeed…for a substantial fee!

Wow, trying to extrapolate the necessary marketing budget to get 100% funding…around $50,000?  It makes no sense!  The paddle project would have had to gone viral to get all the necessary exposure, inexpensively.

Nevertheless, below is the Indiegogo campaign we ran:

https://www.indiegogo.com/projects/assassin-kayak-paddle–2#/

So we are moving on with Plan “B.”  We have just sent the project to a potential investor named Marc Portney for evaluation and consideration.  Mr. Portney is an investor with All American Makers.  This would be an equity investment should he decide this project is worthy of his attention.  We will have to give his team a week or so to do their discovery, and await a response!

Plan “C” is to solicit other potential angel investors, private investors and other venture capitalists who would be interested in backing our project.  Think “Shark Tank”

Plan “D” is non-bank funding options.  I attended a very interesting lecture at our local college. It was presented to entrepreneurs about seeking funds from sources other than banks.  The SBA, Small Business Administration, backs these loans from select small investment companies.

Plan “E” is to source the project through some other established paddle sports manufacturing company for an equity stake in our company.

As you can see, we already have a backup plan in action, and others available if required.   If anyone knows of a potential investment source, please feel free to contact me.

Thanks for all your continued support and dedication!  Failure is not an option!

So now we wait…again!