WestNoble press has been in business for 17 years and understands the printing/graphic arts industry. Nearly 3.5 years ago, WestNoble intiated the development of a web tool to aid the general print buying community in developing budgets and managing the printing process on the internet. In this vein, WestNoble has developed the first instant market pricing system for the printing industry which allows the user to specify any printing project and obtain a real-time market price quote for the project.
The software and business model developed around this approach has already been assessed to be worth close to $40 million. WestNoble has already assembled a group of strategic partners which have validated its new technology; these strategic partners are all market leaders in a particular sector of the supply chain.
They include Bindagraphics, the largest and most diverse bindery in the eastern United States; Xpedx, the largest paper distributer in the United States; and French-Bray press which is part of the Mail-Well company, one of the largest sheetfed and web printing companies in the United States.
We have also established relationships with the Printing Industries of Maryland and the Printing Industries of America who find our web tool to be very intriquing and beneficial for the industry.
We already have a solid customer in the University of Pennsylvania, home of the Wharton Business and Finance School. So far WestNoble has borne all the costs associated with financing the project; we are looking for $150,000 in venture capital to help us finish the last round of development which will take approximately 10 more weeks. This investment amount will buy a 3% share in the WestNoble project.
As everything including strategy development, marketing plans to prospective customers and trade associations and the bulk of development is already done, the investor should be able to realize healthy returns, dividends within 12 months of the initial investment.