The company is based in the United Kingdom, operating as an online shop of Leather Craft supplies. They have established operations in the United Kingdom, offering a sale of a wide range of products, as a leather, tooling leather straps, threads, and needles.
• They have been established since 2016
• Employing over 20 staff
• Taxes paid in 2018: €477,793.00
With much of the population across the UK facing the prospect of spending prolonged periods trapped at home due to the spread of the coronavirus, Britons embarked on the search for a time-consuming hobby, leading to some unexpected shopping sprees online. While sales of clothing and footwear slumped, all types of DIY goods, sports equipment, and electricals were facing steep rises in demand with sellers reporting revenue figures far higher than even those of the best ever Christmas sales.
Being stuck at home with heaps of time on their hands has also unleashed the creative spirit in people, with many looking to express themselves through works of arts and crafts, as well as looking for ways to entertain and educate the children while keeping them away from the screens. This has led to unprecedented levels of demand for crafts supplies, including leather and related supplies for making various self-made handicrafts.
This surge in demand has led us to look for ways to raise finance, which is necessary for increasing stock levels, to enable us to cater to this increased demand in a fast and effective manner. The company looking to secure €150,000 financing, with a minimum target of €50,000, which will cover the costs of buying the raw materials from wholesalers. For your trust in this project and your generosity, they are willing to reward potential investors an annual interest rate of 22.1%, promising to pay it out in monthly payouts throughout the loan term of 10 months.
Interest rate payments start calculating from the day you make your investment!
The following pledges secure the loan:
• Company Pledges
• A guarantee of the Borrower in writing
The loan is offered with the BuyBack Guarantee: thus, if a borrower is late with the repayment of the loan, TFGcrowd will initiate the compensation procedure of both - the invested principal amount as well as accrued interest after 60 days of default.
MM Craftsupplies Advantages:
• Well established self-operated online shop
• Supplementary online shop on e-Bay
• Shop floor, where materials can be picked up by the locals
• Existing loyal customer base
• Strong working relationships with wholesale suppliers
Unleash the creativity within you by creating handmade designs from luxuriously soft leather pieces that will remind you for the years to come of the quality time spent during the lockdown or turn this new-found hobby into a future profession or a craft that you can perfect and earn extra cash aside from your day-job even after the lockdown. Choose from a range of undyed leather pieces, which allow you to try out dyeing the leather yourself and making the designs even more personalised to your taste or pick a color to suit your mood from our extensive pre-dyed range.
Company's all-encompassing product range includes anything one might need while embarking on a leather handcrafting exploring mission – threads and needles, buckles and clips, chains and straps, rivets and rings. You name it – they have it! All that’s required is to let the imagination run wild and pick an item one wishes to make, be it a beanbag, a purse, a wallet, or something even more sophisticated, like a pair of shoes or a personalized handbag.
Use the tools for educational or entertainment purposes, with the kids that are now forced to stay away from school to teach them the craft of leather sewing, while also encouraging them to create their own colours, designs and ideas. Just imagine – you may be planting the foundation stone for a future designer!
Given their well-established experience in the leather crafts supplies retail, the company is perfectly positioned to fill the surging demand effectively. Reliable wholesale suppliers, our very own online shop, e-Bay presence, and existing shop floor allow us to cater to each sector of customer demand. While being still relatively small on the UK scale, they can provide the customers with the personal touch of outstanding customer service – something that larger competitors have long forgotten about.
By building on strengths and joining hands with TFGcrowd, the company envisages itself to be able to reap the advantages that the current market conditions provide. It is of utmost importance for it to be able to meet the increasing demand at this moment without creating delays in supplying our current customers and without running out of stocks of materials that are necessary to meet the increased demand from newly established customers. By being able to meet the demand of both groups, the company will be able to grow our existing customer base and enjoy a larger market share in the future.
With an estimated global market value of US$ 583.4 Billion in 2018 and expanding at CAGR of more than 11% during the period from 2019-2024, as reported by IMARC Group, the global handicrafts market is a lucrative one to enter for anyone looking for high growth prospects.
With increasing technological possibilities in online retail, a boost in the sales of handcrafted goods are visible across the world, as handicrafts become more accessible to consumers. It is no longer required to attend arts and crafts fairs or travel across the world for people looking to acquire authentic items. Similarly, shifts in consumer demand with preferences leaning towards more personalised designs are fetching sales upwards.
Leather crafts supplies have seen a surge in demand not just recently, as the Covid-19 implemented social distancing induced people to look for hobbies that would be fun, as well as useful. The demand has seen upwards trends for several years already, as people become more environmentally friendly and search for non-machine-made products.
The Covid-19 crisis is set to aggravate the environmentalism in people and create a movement, where local produce is preferred to imported things, given the visible environmental impact that transporting goods from places far-afield creates. The slowdown in transportation has radically reduced pollution levels across the globe and is bound to make people reconsider their choices after the crisis subsides. These shifts in demand will allow for local craftsmen and craftswomen alike to make use of the skills they have learned during the lockdown by selling the things that they have made locally. The UK is a great market with plenty of opportunities to sell the products online, as well as in the thousands in arts and crafts fairs that are organised annually.
Considering the short-term market environment, leather crafts supplies will benefit from lockdowns across the countries, as people are in search for ways to spend the heaps of time they now have on their hands in a useful and productive manner. It’s a pastime that can be enjoyed by both the grown-ups and kids alike with endless possibilities to design just about anything.
Why Would Companies Choose Us to Get a Loan and have to pay Significant Interest Fees (17%-27%)?
When talking about small and medium-size businesses the main issue they are usually struggling with is their cash flow. Why is it happening? Simple - clients paying late and suppliers demand payments or upfront or immediately upon delivery, depending on the industry. So, when a delay is happening they are stuck – they can’t proceed with a new cycle (buy more in bulk and sell to multiple clients to get the profit) until previous clients won’t pay invoices in full. That’s why companies often need to get invoice financing.
But obtaining lending for a business is not a very easy and straight forward process as one might think, especially nowadays.
Usually small and medium-size companies have a few options:
They can go to a bank to secure lending, and many of them do. However, it requires significant paperwork and timeframes are very vague. In addition, banks are usually reluctant to do project lending or provide companies with operational capital loans.
Another option is to go to invoice financing companies to get operational capital or project financing. But are they cheap? Please see a simple comparison example of TFGcrowd vs Financing companies below. It is only an example and a round-up, but just to get a general understanding.
Please find some of the Financing Companies offer examples in the project's documents.