Results 1 to 6 of 6

Thread: thoughts on Angel investors?

  1. #1

    Default thoughts on Angel investors?

    I've thought about this a lot and while I do not really want to hire an investor it may be the only possible way I could get my business going. I have a buddy who works at regions and even he has issues with getting loans and has decent credit. I do not want to use my family for co-signing and I have quite a few red marks already from 2 different banks and Verizon. I know once I actually get started I should contact the SBA for advice, but I have a strong feeling teaming up with an investor would be the only solution. Input?

  2. #2

    Default

    It is not so easy to get an investor too. You need to have a sound business plan and preferably some prototypes of the product/service you are providing.

  3. #3

    Default

    I figured that too, surely a Hobby gaming shop right across from a big college campus would make logical sense to invest in though right? What I'm thinking about doing is stretching out into a café/deli type deal with sci-fi/fantasy/and gaming themes for it as well once the shop gets established and starts turning a profit if it kicks off. I have plenty of friends and family who would easily support it and probably come up with a menu list to boot. I could most likely get a co-signer for it but not sure I want to risk that on friends or family if it falls. Even though I'm going LLC which everybody I've talked to (including my instructor) has said that's the best option for a starting business. Advertising won't be an issue because I already have the ideas on paper with my project I'm working on and we haven't even gone over that yet. I'm not blindly going into this though and i'll most likely try to find a management position for a bit to get a feel for handling paperwork and such before I take a leap into running my own place.

  4. #4

    Default

    Angel Investors generally don't invest in non-scalable business models. You need a small business loan for the type of business you are planning to start or maybe a business partner that will provide funding in return for equity.
    PHowey@talkroute.com | 1-888-747-2140 | www.talkroute.com

    "We turn any phone into a professional phone system"

  5. #5
    Registered User
    Array
    Join Date
    Jan 2014
    Location
    Beautiful British Columbia Canada
    Posts
    12

    Default

    That's exactly what I was thinking phowey. I would almost bet you an Angel investor would insist on a signed contract which, among other things, would state he/she owned the business until the terms of the financing were concluded. I suggest you seriously consider looking for a good business partner. Make sure you both (partners) hire separate lawyers to hammer out the terms.
    The problems we have created cannot be solved
    at the level of thinking that created them
    "Albert Einstein"

  6. #6

    Default

    They would want their cut of course, but they would not interfere with the management unless stated otherwise. I'm pretty sure investors have more to worry about than the operations of a business though. I know that my plan would work however and if not I could pick up on my idea of a hooters/dave & buster's mix lol

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •