Chapter 35: The business pitch
"So, what do you think?" Logan asked Luke and Lorelai, after presenting them with his business idea.
"Well, you know we don't really know anything about the newspaper world. But as far as the practice business pitch goes, this one went really good, in my humble opinion. If we had that kind of money just lying around, we'd be in for sure, right Luke?" Lorelai said and Luke nodded in agreement.
"Yeah, it seems like a really good idea. You got your proposal ready, you know all the numbers, and the 5 year plan looks solid. I think you're ready to do the actual pitch" Luke added.
"See? I told you it's an excellent business idea. It's gonna be great." Rory smiled at her parent's reaction, excited for Logan.
"Relax, Ace. It's still a work in progress. Even if it works out, it'll be at least a few months before I can quit my day job." It's been 3 months since Logan decided that he didn't want to be a part of his family business. It was also 3 months since he last talked to his dad. He talked to Honor and his mom on regular bases, but his father refused to speak to him. He also, as promised, cut him off. So while still in college, Logan had no choice but to join a humble world or gastronomy, working as a waiter in one of the nearby campus restaurants. He was saving up as much as he could, while also trying to come up with his own business idea. He gave this a lot of thought, and he ultimately decided that newspapers were still a world he didn't want to leave behind. He wanted to be a reporter and he had a natural talent for it. But he knew that no matter which paper would hire him, there was a 75% chance that they would do it, just because his last name was Huntzberger. And he didn't want that, so he needed to create something on his own.
"It's gonna work out, I know it." Rory chose to have faith. "It really is a great pitch, trust me."
"I know. After all, we came up with it together." He reminded her. Ever since his fight with Mitchum, Rory has been more than supportive. She was helping him with every decision, and when he finally realized he needed to have his own business, she spent a lot of late nights by his side, creating this pitch.
"Please, it was all you. I only helped a little."
"This idea is both of ours. And if it's all gonna work out, it'll be both of our success." He insisted.
"Just don't forget that a good pitch is only half the battle. To gain an investor, you have to know the people you're pitching to. And no-one knows Emily and Richard Gilmore like I do. So hit me with any question you want and that way you'll be truly prepared." Lorelai suggested.
"That would be a huge help, Lorelai. Thank you." Logan said, grateful. When he and Rory first came up with the new business idea, they knew they needed investors. Preferably it would be someone who had a lot of money and was already familiar with the newspaper industry. But that group of people were either his dad or his dad's acquaintances. So instead he needed to just find rich people, willing to invest in his idea. Richard Gilmore naturally came to mind. His insurance business was thriving and he certainly had enough money. He was also the only real connection that Logan had to the rich world, which didn't come from his father. Still, at first he wasn't sure if it was a good idea to mix business with pleasure - he was his girlfriend's grandfather after all. But after some thinking, and thanks to encouragement from Rory he decided to go for it. So before this week's dinner at the Gilmores, which he and the Danes family would attend, Logan had made a business appointment with Richard.
"First and the most important thing, be careful and look out for the strings. If my father agrees to be your silent partner, make sure that the word "silent" is actually in the contract. Be sure to point out that this is an investment and not a loan. Be polite to my mother, make sure she feels included in the process. Because even though it's my dad's business, she's the one who's doing the work behind the curtains. And there's nothing more important to her than proper manners. When he tries to negotiate, don't be afraid to stand up for yourself - fight for what you believe are good terms. And he'll respect your confidence. " Lorelai listed her advice.
"This is great, I can use this." Logan thanked her. He could only pray that all of this would be enough to convince Richard to invest in his business.
"So, right now we have few different types of newspapers on the market. We have the major leagues, daily newspapers, New York Times, Washington Post and so on. Then there's entertainment based color magazines for all different types of people - women magazines, men magazines, teen magazines. They have fashion, gossip etc. So I ask myself what is missing? What kind of newspaper would make it in today's competitive market times? And the answer is a daily newspaper targeted specifically for young adults. This would be a serious newspaper with regular sections, such as politics, sports, religion. But it would speak on the topics which are relevant for 20 something people. How to prepare for a job interview? What should we look for while entering the job market? How politics affect our future choices- economic, apartment prices? How to fill out your tax? And so on, and so on. I believe that young adults shouldn't limit themselves to just regular daily news or vogue type magazines. We should have more options, our own voice. And that's what I want to create. This paper will be in majority distributed online, but also heavily promoted on college and school campuses - we'll go straight to the main target group. This is the rough numbers and prognosis for the first year. I'll be the editor, at first depending mostly on interns' work, who would be willing to write articles free of charge and later moving on to building a regular paying staff." Logan finished his presentation and swallowed heavily. He knew what Lorelai said - he should show confidence. Yet he couldn't help but feel nervous. His entire future, what he spent every night in the past 3 months developing, was on the line here.
Richard took a long look at his presentation and went through all of the numbers quietly, while Logan stood there, unsure on what kind of impression he gave. Emily sat next to Richard, smiling - so at least that was a good sign.
"I must say, Logan. I'm impressed. This is a tremendous amount of work you did here." Richard admitted and Logan felt like a huge weight was lifted off his shoulders. "I do have some questions, though, if it's alright. I assume you want to start to work on it right after graduation. When would you expect to launch it?"
"I plan the first issue to come out in September. Right when the school year starts, that way we would have more people on campuses."
"That sounds reasonable. How much would you like to print and what kind of money would you need me to invest in this?"
"I was thinking of starting distribution on the East Coast only, and printing a few thousand copies at the beginning. As per my calculations I would need 15 thousand dollars. That would make you a silent partner, and you would receive 20% shares." Logan explained. "Mr Gilmore, before you decide anything I need you to know something. I want you to treat me as a regular person and be in no way influenced in your decision by me dating Rory. I know this is a lot of money and if you decide against it, there'll be no hard feelings. This is just business. I won't make it personal."
"Logan, I can see clearly how much you want this to work. I think this is a good idea. And I don't agree with your father at all. I think you have a strong work ethic and great potential. I'm in." Richard smiled and reached out his hand which Logan shook, grateful. "You can breathe now, son. I can see it was stressful for you. But the official part of the evening is over. Everybody should be here soon for dinner. You can relax."
"Thank you, Richard. You will not regret it. I promise." Logan couldn't be happier. He felt like finally he had done something right. And he did it without his dad's help. He really felt like celebrating now.
"I can't believe it all worked out. This is the best day ever." Logan yelled happily, as he and Rory walked into his apartment. After the dinner at the Gilmores, they had to get back to New Haven, as Rory had a group project she needed to do over the weekend. But she decided that they needed to celebrate some more and took him out for drinks. They both had been so busy with their schedules lately, that they haven't had a chance to really let it loose. Now when he had Richard on board, Logan felt that he could allow himself a little break and he and Rory got happily drunk. So drunk, that they had to leave the car near the bar and take a taxi home.
"Of course it did. Cause you're the most brilliant man in the world." She kissed him happily, feeling prouder than ever. "You're so sexy when you're this confident." She said.
"You're sexy, always. And brilliant. God, I love you so much. How did I get so lucky?" He questioned.
"No idea. You are pretty lucky to have me" She giggled.
"The luckiest." He admitted with a smile. "Rory, I want you to do it with me." He said, suddenly serious.
"You got it." She quickly agreed and started taking her clothes off.
"No. I mean, yes I want you to do this with me, too. But what I meant is that I want you to be in this business with me. We can be part-owners, build it all together, create something."
"Really?" She asked, surprised. "Logan, I don't know. I honestly never thought about it. I still have to finish school - you're graduating in 2 months, but I'll still have a whole year left after that. And my goal was always to work for one of the major papers. I want to get this internship at the New York Times, you know that." The serious topic seemed to sober them up a little.
"I know. And I don't want to pressure you into anything. You should follow your heart. But I just want you to know that this is an option if you want it to be. And who knows? Maybe this paper of ours will one day also be in the major leagues. And then you'll be able to say that you were in there from the beginning." He shrugged his shoulders.
"It does sound like a really good option." She admitted. With this paper, the possibilities were endless. They couldn't really know what the future would hold, but she couldn't help but wonder how amazing it all could be. "I'm not saying no. I just… need some more time to think about it."
"Don't worry about it. There's still plenty of time till you graduate. And no matter what you choose, I'll still be there for you, supporting you 100%." He promised. "Okay, done with the serious conversations. We can go back to the sex."
"As you wish, my dear." She chuckled lightly and went back to unclothing herself. For now the topic was over. But the idea was planted in her head. She still wasn't sure if it was something she wanted to do. But it was nice knowing that no matter what happened next, she would always have Logan by her side.
Author's note: Full disclosure from my side - I know nothing about the newspaper industry, especially in the year 2006 the US since I'm not from there. I just think that Logan was often underappreciated in the show - he had so much potential and he was really smart. I think he is capable of creating his own business and in my mind this business idea which he pitched in the chapter sounds like something genuinely interesting. If someone knows a little more on the subject and disagrees, then I'm very sorry, but just go with it for the sake of the story 😀