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September 17th, 2008, 12:42 PM #1
CarArt.com full website (like zazzle) for Auction
- Join Date
- September 17th, 2008
I'm auctioning off the CarArt.com web business and domain name - no reserve price. (the site is live - please check it out at CarArt.com)
Due to real estate reversals which have forced me (Chad Fullmer - founder of CarArt.com) to take a full-time job, I am auctioning the CarArt.com domain name and website to the highest bidder, despite having recently completed the build of the site (its finished and ready to launch & bring in revenue).
1. Auction Assets:
* the CarArt.com domain name
* all code for the CarArt.com website (the site is live now so that you can assess its value - but the shopping cart is disabled for now - the site has been thoroughly tested & is ready to do business -- I've turned away several orders while having the site live & the cart turned off).
* Also included is the code for a robust set of Admin tools that the winning bidder will be able to use to operate the business (change pricing for decals sold through the site, add graphics or car photos, etc).
* A few thousand dollars of licensed vector art, car outlines/dimensions, software, and installation kits w/CarArt branded key chain razor knives.
* --- FYI - I spent 12 months of full time work w/out pay, & over $30k cash building this site - the code is all proprietary and was developed at great cost.
2. Auction End Date: Sep 26, 2008, midnight
3. Starting bid: $5,000 USD (for all cash offers. I'm open to non-cash offers, see below for examples)
4. No reserve
5. Bids must be signed, in writing (facsimile or scanned signed doc is OK), and received by me no later than midnight on Sept 26th, 2008.
7. If you'd like, we can use a 3rd party (neutral) attorney or escrow service to close the deal & exchange the payment & assets once a winning bidder has been selected.
Please call with any questions - including questions about market size, ($1.4 B/yr), gross margin details (~70%), business plan, monetezation options (B2B, B2C, etc.), competitive landscape, payment gateway integration for the proprietary shopping cart, etc.
On Sat, Sept 27th, I'll email you again and announce the winning bidder, who will need to put 10% of their bid down as earnest money within 7 days of notification of their winning bid. Please address due diligence as a part of your bid - its negotiable. (i.e. you may offer to buy the site as-is, because you can test out the site & see what you're buying .... I'll demo the admin tools for serious bidders; OR, your bid may call for a period of 3 weeks to perform due diligence on me & on the assets you're buying, etc. I will not open up the entire code base for scrutiny prior to collecting full payment from the winning bidder .... otherwise, some might try to copy the code after learning how we've built the CarArt design studio). If the winning bidder fails to close, I'll work with the 2nd place bidder to close the deal w/them, etc.
Also, I'm open to creative offers, such as:
a) $xx,xxx up front, plus profit sharing at x/y percentage till xxxxx amount up and above the initial $40k has been paid.
b) $xx,xxx up front for ownership of 70% of the biz - Chad would retain ownership of the other 30%, and the winning bidder would commit to invest x hours or y dollars to grow CarArt during the next x months.
c) $0 cash up front, but xxx person hours and $yyyyy cash invested to grow the company during the 1st year in exchanges for XX% ownership in the company. This person could work their way up to 70% equity in the company by launching, operating, and marketing the company & hitting revenue growth milestones (you propose the milestones & equity chunks that you'd earn in your proposal/bid).
You get the idea. The $5k starting point for the bidding only applies to straightforward cash buyouts for all assets, where I would have no opportunity to participate in the long-term success of the site. (I prefer offers that will allow me to keep some equity but also pay off some of my credit card debt, because I expect the business to do very well, but I'm open to all types of offers). So, that means that, if by Sep 26th I only have one bid, and its for $5k cash, then that bidder gets everything for just $5k. On the other hand, if the best bid is a marketing guru that is willing to put a lot of time into growing the biz (and not willing to pay any up front cash), then I'll give a chunk of equity to that person, and more equity as they grow and operate the biz.
Thanks for your consideration,
H 801.446.0308 (between 5:30 and 10:30 PM Mountain Time on weekdays)
C 801.822.2274 all other times except Sundays
CarArt.com, a new web 2.0 service, is taking product personalization to the next level, making it easy and affordable for consumers to customize their largest social product — their car. At CarArt.com, consumers can choose from thousands of vinyl decals and window stickers, purchase pre-assembled decal kits from popular artists, or create their own unique decal designs for purchase by themselves or other users.
CarArt.com's revolutionary design studio enables users to drag and drop virtual decals directly onto an image of their own car. Users can search and customize a comprehensive directory of thousands decal images across a wide variety of categories such as flames, flowers, tribal designs, skulls, and custom lettering. CarArt decals are easy to apply, built to endure years of use in the harshest climates, and can be removed without damaging paint.
About Chad Fullmer - the Founder
I have founded several successful online businesses - most recently prior to CarArt.com was CleanFilms.com (which was like netflix.com but for edited versions of the same movies). CleanFilms was doing $200k of net profit/mo in its final days -
I built CarArt.com fully intending to launch & grow it myself, then sell it in a couple of years to Zazzle.com or CafePress.com or similar. However, I was funding the development of CarArt.com with real estate investments, and when the real estate market turned upside down, it has required me to get a full time job to earn money to support my family (wife & 4 kids).
I now work full time for the LDS Church (the Mormons) - where I am a Product Manager for new websites for the Church. Great gig - love helping families and making a difference for good in the world. No time or money left over to run CarArt, and need to dig out of some of the credit card debt that I ran up while building the CarArt website & design studio technology.
Call if you want more info about me - 801.822.2274
Last edited by Haiko de Poel, Jr.; September 17th, 2008 at 01:34 PM. Reason: I specifically said no hotlinks in post didn't I?
September 17th, 2008, 12:53 PM #2
Screenshots of the CarArt.com website
- Join Date
- September 17th, 2008
Screenshot of the CarArt home page and design studio
September 17th, 2008, 01:28 PM #3
Welcome aboard, Chad.
It was a pleasure talking with you on Monday. My offer still stands.
Geno Prussakov AM Navigator LLC Twitter.com/ePrussakov We Manage: These affiliate programs My Services: Affiliate program management, audit, consulting, speaking
September 17th, 2008, 01:36 PM #4
I decide when the pigs fly!
- Join Date
- January 18th, 2005
- New York, USA
September 17th, 2008, 02:37 PM #5
I like this project. No, I LOVE this project. I love seeing custom cars and this creates a limitless supply of fresh graphics to both the users who know graphic design and those who have no art talent but appreciate a good looking vehicle. Set it up with a forum showing real life pics of users and their rides and I think you have a winner. Best of luck to whoever takes it to the next level.
September 17th, 2008, 04:00 PM #6
- Join Date
- January 18th, 2005
Hi Chad, this is very interesting, some people sent me to look at this thread. It is similar but different from some things I am currently doing and have done in the pastDeborah Carney
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