In August 2003, NMC began assisting Sowerwine Golf Solutions (SGS) with its golf swing trainer called the Inside Approach. SGS had already produced an infomercial and began to test different versions of the program on air in order to determine the best price point and offer configuration. NMC applied its experience to help SGS select the most profitable product offer for the media dollars spent. NMC provided valuable insight to SGS on many strategic and logistical business decisions including, inventory purchasing, vendor selection and negotiations and their retail and international rollout strategy.
Since October 2003, NMC has advanced in excess of $2.2 million in media purchases and has seen SGS build itself from a small start-up enterprise to a major brand in the golf retail.
In addition to media financing, NMC was able to facilitate significant savings for SGS on credit card discount rates and fees on its sales by transferring the credit card account to NMC's partner company, Newtek Merchant Solutions. Due to the strong intercompany relationship between NMC and NMS, Inside Approach was able to get set up in very short order and received far better rates than they could on their own. Due to SGS's success, NMC also recognized the need for this company to have accurate bookeeping and accounting in order to effectively manage their rapid business growth and to be prepared to submit concise financials to investors and lending institutions. To accomplish this, NMC introduced SGS to Newtek Financial Information Systems which is a provider of complete back-office financial services including comptroller functions, profitability and cashflow analysis, and tax preparation.
It was NMC's great pleasure to see that in only 7 months of operations with NMC's assistance, SGS became self-funding and was able to secure a $750,000 line of credit from its local bank which increased their business' overall profitability by replacing the bridge capital provided through the NMC package of services.
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