Marcel Benson of Benson Watch Company has always been an entrepreneur with a mind focused on accomplishing big goals. In 2017, he quit a six-figure job to make his side hustle dream of selling watches a full-time mission. Since then, he has seen his watches on the shelves of major retailers, he’s graced the pages of The New York Times, and he’s even been recognized internationally. However, his latest mission involves us.
After much success, Benson Watch Company is ready to play in the big leagues of business. To do that, Benson is raising seed capital for the next phase of his business through equity crowdfunding. Unlike regular crowdfunding, when you contribute to Benson Watch Company’s seed round, you are making an investment in the company and gaining equity from the ground floor up. So, when Benson Watch Company is bought by an investor or goes public on the stock market, you have the potential to make a lot of money from your ownership of company shares.
“We’re scaling to become the first global, Black-owned watch company and we wanted to give people the opportunity to join us in making history for as little as $250.” Benson told WeBuyBlack. “This is our time to come together and make history and build something that we want to see. It’s a group effort and working together is how we will see more businesses like this in the future.”
According to the brand’s crowdfunding site, the majority of funds raised will go towards expanding inventory and growing marketing and communications, research and development, and key personnel hires. The crowdfunding is FINRA and SEC certified — which to the uninitiated are fancy acronyms that let you know it’s not a scam. Benson hopes that Black people will see the value in investing in his company early, whether or not you have previously purchased a watch.
“We always say that we want certain luxury products in our community but our actions don’t always match that desire,” he said. “When you look at the disparity between Black-owned companies and white owned companies, and why ours don’t grow to the same size, it’s because we don’t leverage enough capital to grow. This is truly an investment. This is equity.”
Benson says his inspiration for starting a watch company comes from his personal belief that “time should be spent doing what you love.” The Morehouse grad is ready to embrace the next phase in business and is unafraid of eventually selling his business to a larger company. Afterall, he says, this is how the investors will get impressive returns and how we can circulate more funds in our community.
“To me, it’s providing a wealth opportunity for everyone,” Benson said, speaking about the possibility of selling his watch company to a larger entity. “It’s not to lose power, it’s to empower us through financial means. I’m 32 years old, and I’m planning to sell in three years. Who’s to say that I can’t embark on another venture that will make more money? We have to get our weight up. We have to build our wealth.”
Invest today for a little as $250. Campaign expires on May 1, 2021.