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Colorado

Colorado Manure Hauling

About Documents
34%
$10,250 Funded
$30,000 Target
34 days Time Left
9 Investors
$30,000 Min. Raise
$60,000 Max. Raise
60 mo. Term Length
10.0% Interest Rate
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Overview

Colorado Manure Hauling is the premier recycling service of large animal manures. Especially for the many equine owners in our county and surrounding counties. We will come in and haul off a pile that our clients built over time and then bring it to our composting facility.

Our clients range from little old ladies to medium horse boarding facilities. The range of economy class is large and varies as well. We have worked hard to not take for granted the work we have. With no other competitors around yet, we still demand our employees and ourselves to respect the property and the people living there. This shows in how we clean up, how we interact, and even our driving habits.

There are lots of horses but no one hauling. The issue lies in the disposal/recycling part of the business, as well as some stigma overhauling manures. We have come to the conclusion we need to answer this issue with composting. This will help secure our business into the future as well as generate a new source of revenue.

We are raising $60,000 at a 10% interest rate, paid over a 60-month term!

"Only a good friend takes your crap & now a great friend can give it back!"

 

The Project

With the funds secured in this first campaign, we will be purchasing a new well for our composting operation and secure working capital. With the well purchase of $30,000, we can expedite the composting process and save up to $700 per month in lost labor due to water purchase and delivery. The working capital of $30,000 will help in compensating for the management of the well drilling and permitting. This capital will also cover the expense of finding and purchasing equipment to aid in the composting process as well.

Once the funds are in place and well secured our composting process will be much faster and better utilize the time for other important tasks, i.e. screening material or loading deliveries. This is the first step in becoming more competitive as well as controlling costs going forward.

  • Well purchase - $30,000
  • Working capital - $30,000

A view of our compost windrows! The process takes about 10-12 weeks to be ready for delivery.

Business

History

Colorado Manure Hauling was purchased from a local, Jim Pearson, who performed this service on the side. Jim's mission was to provide for his hobbies and some cash during retirement. We believe he had around 100+ customers. There was no business name or advertising. When Roger purchased the business and brought Jonathan onboard we quickly let people know we were serious about taking on new customers. People literally hopped the fence to get our info and get on our hauling list.

The first year or two of business we could take most of July off to pursue whatever we wanted. Our clients get picked up about twice a year on average and some with more. Now those days are long gone. We have shot up to over 500 clients and have had to stop taking in new clients due to one: a lack of ways to dispose of the manure, two: a shortage of drivers in our current environment.

We have begun the composting operation under the name Richer Lands Compost, to answer one of our issues. Within this first year, we have secured one commercial client and a few deliveries to homeowners. With growing name recognition and pursuing sales leads we aim to completely secure the hauling operation as well as create a new revenue source.

We sell our compost commercially and for residential projects. We are registered with the USDA!

 

Future

The next year we are looking to maximize our capacity in our composting operation to better serve the commercial market. We have learned we need to quadruple our output, according to some potential commercial clients. The well purchase will be instrumental in this development. We also will have more equipment on hand and another laborer to help attain this goal.

The next two to three years will be building a brand that has name recognition, not only in the commercial world but the retail world also. Working with community gardens and school programs will help not only the community, but it will also help spread the word of what were are doing.

The composting, Richer Lands Compost, will grow into a facility that will begin to accept manures from other haul-off companies. Currently, RLC is located at a temporary facility with limited capacity. With the move to a larger facility, RLC will also begin to accept food waste. This will not only bring in more revenue in tipping fees, but also become an answer to landfill diversion and climate goals for the state of Colorado.

Creating bio essays with our compost to show its potential - to test for any damage and show successful germination!

 

About the Owners

Roger Whetstine

Roger Whetstine is an army veteran of 21 years. Roger has worked in real estate and holds a logistics degree from Colorado Tech University. He has a passion for horses and even was a jockey at one time in his youth. This job allows him back into that world.

Jonathan Whetstine

Jonathan Whetstine was dragged around by the army until the age of 11. He has been involved in the landscape/garden nursery world ever since he could work (13). He also worked in retail with skis and golfing equipment at the manager level for two years. With a passion for growing things and the outdoor living environment (homes) composting has been a great way to express that.

Deal Summary

 Issuer

 Colorado Manure Hauling Corp

 Doing Business As

 Colorado Manure Hauling

 Security Type

 Unsecured Loan

 Loan Purpose

 Well purchase, working capital

 Offering Amount

 $30,000 - $60,000

 Interest Rate

 10% annually

 Payments

 Monthly, disbursed to investors quarterly 

 Maturity

 6 months interest only, followed by 54 months fully amortizing 

 Personal Guaranty  

 Roger Whetstine

 Security Interest

 None

 Offered Portal 

 Honeycomb Portal LLC

 Offering Type

 Reg CF

 

Your Earnings Summary

If you choose to invest, you will make a one-time investment via ACH that will be transferred to a secure escrow account. If the campaign successfully reaches its target, the funds will be distributed to Colorado Manure Hauling Corp.

For more information on the mechanics of Honeycomb’s crowd investing platform, please review our Education Materials.

 Investment Amount   One-Time Fee  Potential Quarterly Return:
Interest-Only Period*
 Potential Quarterly Return:
 Amortization Period* 
 Potential Total Repayment* 
 $100  $2.85  $2.50  $6.92  $129.59
 $500  $14.25  $12.50  $34.61  $647.95
 $1,000  $28.50  $25.00  $69.22  $1,295.91
 $5,000  $37.25  $125.00  $346.09  $6,479.55

Your ongoing responsibilities from investing are limited. Over the life of the loan, you will receive a yearly 1099-INT, which is a simple tax document similar to what you receive for most savings accounts. *Individual payments may vary slightly based on rounding. Potential repayments include principal and interest; they do not include the one-time fee which is assessed when you make your investment. These amounts are calculated as a hybrid interest-only + amortizing loan, which means that there is a specified interest-only period followed by an amortization period. There are no prepayment penalties and Colorado Manure Hauling Corp may pay down their loan early, which may impact your earnings potential. Please note: returns are not guaranteed and investors could lose some or all of their investment.

Colorado Manure Hauling Corp pays as agreed. You will receive quarterly payments directly into your bank account. In the event of a default, you will be contacted by the administrative agent to manage the collections process on the investors' behalf.

 

How Honeycomb is Compensated

Honeycomb charges Colorado Manure Hauling Corp a 7.0 - 8.0% loan origination fee based on the total amount funded.

Additionally, to cover expenses associated with each investment, Honeycomb charges a 2.85% investment fee capped at $37.25 per investor.

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Offering Documents

Comments

Q & A

+ How confident is RLC that the well will produce and adequate supply of water of accpetable quality? Does RLC own water rights for the well?

Thank you for your great question, Mr. Roberts. We are very confident in the well's ability to produce the amount we will need. According to the Colorado Ground Water Commission, we have a potential of 2,509 acre-feet (one-acre foot equals 326,000 gallons) of withdrawal. We will never need this amount and will stay well below this. The water quality has been great for our operation with no effects on product quality. This has been proven with lab testing of water and finished product. Our water rights and well drilling permit are in the final stages of approval.