Friday, September 02, 2005

We're Almost There...

We are just about there, I think….

All of the negotiations have been finalized. The final sale price has been agreed to. The inventory of the store is set. The process for transferring ownership of the store and management of the employees is in place. We have identified which leased services we want to take with us and which ones we want the seller to terminate. All in all, everything is in place.

Except for one thing.

We are still playing footsie with the bank. The money is going to be in our account in time for us to finalize the deal, but there were some problems with the bank’s processes. So what does all that mean? Well, either we have the money today from the bank we want to use, or we move on to another bank to get the money in a different way. In truth, this isn’t a major deal, it's just a pain. Worse comes to worst, then each member of our troika takes out loans backed up by our home equity (which between the three of us is several times more than we need to finalize this process). We had just hoped to avoid this so it was the corporation that was taking out the loan and not the individual partners.

Ah well, c’est la vie. There always has to be something, I guess. I mean if this was easy, then EVERYBODY would be opening up comic book stores!

There are several positive things to discuss, though…

We met with our graphic designer and we have all but finalized our logo. It will be completely finalized in the coming days as well as expanded somewhat so that different versions of it can be used in different places, such as the sign, letterhead, shirts, etc. I will post a "first look" at the design in my next blog entry.

Furthermore, we have agreed to a layout for the website as well as hired our design guru to make it happen. This is going to be an absolutely DOPE website. In short, not only will it have the standard “floating brochure pieces” (location, hours, next week’s books, etc.), but it will also be the center of a larger comic book community. There will be blogs, spaces for customers and other to post reviews, links to our back issue store on eBay (a link to which should now be found on the side of this page), and much more.

Speaking of the eBay store, we have now broken the mythical 2,000-book limit on the store, and I am nearing the halfway point in the collection (mine) we are using as our seed stock. At this rate, I should hopefully have the first 4,000 books into the store by the end of the month (at the latest). This will be a good thing because I will be extremely busy during the month of October getting ready for – okay, I can’t talk about that now, but suffice it to say, that we at the Big Monkey corporate headquarters are very excited about our future plans.

Talk to you soon!