Thanks so much to all our investors! With over $125,000 raised so far, the campaign is a big success! In addition to the money, we have over 170 new investors and our new extended family is helping us share the ModVans story far and wide. Part of the purpose of our StartEngine campaign is to build brand awareness. Since our campaign launch, we’ve gone from 200 to over 1,500 followers on Facebook, from 0 to 200 followers on Instagram and grown our email subscription list to over 700 verified addresses.
As some of you may have already read, we are in the process of extending our StartEngine investment campaign deadline. Our campaign didn't rocket to $1 million, but we are making steady progress, so, at this point, it makes sense to extend it. Nothing in our road map has changed – we are still headed to RVX next month and still expanding production has quickly as possible. The money received so far has helped us expand our team, purchase new chassis and materials and now we have enough money to lease a new, larger facility.
We are currently at 8 employees - 6 full time and 2 part time. Week before last, we hired Tania part time to assist with inventory management (see below), and last Thursday, we welcomed a new full time Assembly Tech, Jerry, to the ModVans team!
To speed up production, we recently split the 4 full time shop employees into two teams: Parts and Assembly. Previously, we did a lot of cross-training. Everybody could do almost every job, but our assembly operations had delays waiting (and looking) for parts. We have a fair number of "parts" we manufacture such as the cabinets and popup top lift mechanism. Now the Parts team will be responsible for manufacturing these parts and staging them for the Assembly team. This new organization is already helping. We also created and hired for a new position to monitor our inventory with a plan to avoid outages for purchased parts and raw materials while keeping our inventory lean (to minimize costs and storage space).
To increase production further, we desperately need more space (and more bathrooms)! We are super busy building 2 CV1s to take to RVX (see our previous update for more info), so, we can’t move for the next month or so, but we are keeping watch for deals or spaces that seem to fit us well. Here is a rendering of how we might use the most promising space we've found so far:
We plan to split the factory floor into Parts (left) and Assembly spaces (right). As you can tell from the rendering, having the RVs in two rows would be difficult without a lot of shuffling, so we think this space would probably work best for up to 8 RVs per month (1 row of 4 lifts working with each lift/assembly team building 2 RVs per month). For this space, there is some outdoor storage as well that will be important for new chassis staging and completed RV delivery.