Facing Strategic Growth and Financing Options

Abstract

Dr. Milton Moore, a registered pharmacist and medical doctor, who originally started a skin care products business as an extension of his medical practice in dermatology, had personally managed Moore Unique Skin Care since its inception in 1993. Dr. Moore’s shaving products which successfully relieved an array of painful skin conditions, were immediately promoted within the Houston police department, as well as other “uniformed” local and national organizations. By early 2007, after several delays, the business was granted distribution contracts with two major retailers. In 2009, Dr. Moore obtained two patents for his shaving products. Due to these new business opportunities, the business grew and was relocated to expand its staff and warehouse. In response to this rapid expansion, Dr. Moore was faced with decisions related to business formation and strategic financing to keep pace with the growth spurt while protecting his personal assets, especially his patents.