Case Study: Truth Soul Armor

  • Timothy A. O. Redmer


Truth Soul Armor is a new start-up company in need of an influx of additional venture capital up to $750,000 from an “angel” investor. Jeff Ray, the president of Truth Soul Armor, has already invested more than $500,000 of his own funds into the company over the last two years and needs resources from other investors to move to a full-time operational phase in anticipation of increased demand for their product. Truth Soul Armor, headquartered in San Clemente, Calif., is in the surfer and skater apparel business, which in the last 20 years has grown from insignificant to a $5 billion per year industry, serving a target market of youth from 15 to 24 that is more than 40 million strong. The surfer and skater apparel business is dominated by a few major players like Quicksilver and Billabong, with a lot of other companies from existing clothing companies wanting to expand and diversify to brand new start-ups like Truth hoping to gain a share of the market. A potential investor, John Martin (name is changed for confidentiality), is considering Truth Soul Armor as a potential venture capital investment of up to $750,000. After visiting with the company and its president, John is reviewing the business plan, sales forecasts, and financial condition of the company prior to making his decision. There are a multitude of both quantitative and qualitative issues that could play a role in the decision process.

How to Cite
Redmer, T. A. O. (1). Case Study: Truth Soul Armor. Christian Business Academy Review, 6. Retrieved from
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