Company Overview –
BLAZnTECH is the world’s first motorized weapons cleaning system. A pocket-sized tool that manages to effectively clean most commonly used rifles and handguns.
|Name: BLAZnTECH||Minimum Raise: $50K|
|CEO: Benjamin Bondar||Maximum Raise: $1M|
|Company Founded: 2014||Structure of Raise: Future Equity (SAFE)|
|Location: Res Triangle Park, NC||Valuation: $10M Valuation Cap|
|Crowdfunding Portal: Wefunder||Minimum Investment: $100|
|Crowdfunding Link: https://wefunder.com/blazntech|
|Positives||Risks and Reservations|
|First movers advantage of being the first motorized cleaning tool||Currently oversold and ill prepared for commercial growth|
|Early bird bonus: $9.5M valuation cap||Government and regulatory agencies could influence decision making|
|R&D conducted in Iraq by military servicemen||Saturated market|
|Projected to sell $50,000 units by December 2017|
BLAZnTech has two primary revenue streams. The first is from the sale of their MWCS kits. The MWCS kit boxes have a suggested retail price of $200 with the current cost of production being $55. They predict the production cost the decrease to $30 in 2017. The second revenues stream comes from proprietary consumables such as nylon brushes, cotton brush socks, and weapons high-value CLP gel. The weapon cleaning consumables retail between $3.95-$5.95 and make up over half of their gross revenue. Each revenue stream has gross margins more than a 200% markup.
- Sold over 1,000 units to date and this is just in the R&D stage.
- Patent pending in the U.S. and internationally
- Manufacturing partner with PRIDE Industries
- Partnered with FrogLube; providing cleaning, lubricant, and protectant in every BLAZnTECH kit
- Developed international circuit board to reduce labor time and increase production capability
*Source: Company provided on crowdfunding campaign website
Senior Management Team
|Benjamin Bondar||William H Tate||
|Position:||CEO & Founder||CFO||CMO & Chief Evangelist|
Founder and CEO, Benjamin Bondar, is a former stock market analyst – managing over 2.3MM with his own trading floor. He is a veteran of Iraq, FAA certified pilot, and inventor of the Motorized Weapons Cleaning System. The CFO, William H. Tate, and the remaining management team all have military experience.
BLAZnTECH is targeting gun & sporting enthusiasts, military, and police.
There are over 270 million guns in the US. The firearms and accessories industry has a market opportunity of $6B. Weapon owners spend $13B annually on accessories.
The firearms manufactured by year in the US is increasing every year. This ramp-up in spending includes rifles, handguns, revolvers, shotguns and other miscellaneous firearms. I’ve personally been approached by veterans pitching they’ve created the next best innovative tech for firearms. The hesitancy investing in this space is the heavy regulating hacking one must do to make any sort of headway. BLAZnTECH is different because their products are complimentary to firearms and don’t compromise the integrity or intend to replace the firearms. This product is replacing an out of date cleaning tool and has already demonstrated quality traction in the market.
Revenue to date: $0
Previous Funds Raised: $20,838 on Indiegogo
Use of Funds
- Ramp-up production
- Fulfill growing demand
- Supply chain management
They have developed future concepts with Ranier Arms which could be a potential exit opportunity as well as other incumbents in the space.
Recent Acquisitions in the Field
|Date||Company Acquired||Acquired By||Amount|
|Nov. 26, 2014||Battenfeld Technologies||Smith & Wessen||$130.5M|
Expert Opinion Summary
Their production costs are currently really labor intensive. Their ability to scale will be important to their success. However, given they’ve already aligned with a non-profit, PRIDE Industries which employs 5,600 Americans, to conduct product assembly and distribution they may have a great chance to take a large slice of market share. BLAZnTECH also has established defensibility around the product and holds patents on the tech.
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