Historically, specialty businesses had limited ability to expand beyond their immediate geographic region. However, current technology allows such businesses to promote themselves to a larger audience. Touch Up Teak is one example of how successful online investment partnerships can grow a business.
Touch Up Teak, based in Hollywood, Florida, provides a full range of services for preservation, repair, restoration and maintenance of exotic wood used for high-end furniture, home decor, decks and other areas requiring style and durability. The company also serves the resort and restaurant industries, and the yachting/boating community.
“I have wanted to expand for some time into markets beyond Florida,” Touch Up Teak CEO Paul Murray noted. “We decided to list our offering on the internet, and wanted to make sure we could reach as many possible capital sources in the most efficient and cost-effective manner we could.” To help expand its business, the company used DPOUSA, an online financial platform that makes information about up-and-coming businesses available to potential investors at any time, day or night. DPOUSA is visible to the public, and also maintains a growing database of 30,000 investors with over $500 billion in investment-ready capital.
“Since listing, we have begun discussions with accredited investors who just happen to own yachts, and see the value our business brings,” Murray said.
Touch Up Teak maintains additional facilities in Miami and Naples, but the company’s management has plans to expand the services offered and the geographic areas served, starting with high-end southeast markets in Orlando. Such expansion will require capital for facilities, marketing and advertising, and the company hopes to partner with additional investors online via DPOUSA.
As part of the expansion plans, Touch Up Teak has developed proprietary wood-finishing and restoration technologies tailored to the high-end woods used in demanding applications such as high-gloss yacht finishing and interior/exterior patio furniture, trim and decking. As an exotic-wood specialty company, Touch Up Teak is qualified to restore and maintain many different species of hard and soft woods including teak, ipe, walnut, mahogany, cypress, tiger, Patagonian rosewood, cumaru, burl and bubinga.
“Now that we have engaged in discussions with investors, our future expansion plans in the Mid-Atlantic and Southern California are closer to becoming a reality,” said Murray.