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13 Replies Last post: Jun 9, 2009 11:46 AM by Intelicapital

Need 300k of working capital

Sep 26, 2008 7:42 PM

Click to view thegrizzlybar's profile Professional thegrizzlybar 6 posts since
Sep 26, 2008
My partner and I have located a piece of property that is the 10 yards away from a growing liberal arts college (1600 students). The property is closest piece of commercial property to the school. Not only does this school not have a bar and grill within walking distance, but the median age of the town is 34. Additionally, with our plans, the building will have 3 rental apartments. Our estimates indicate that the total costs to open the doors will be near to 3 million dollars. The investments will be paid back within 3 - 5 years with interest.
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Click to view Fortis's profile Mogul Fortis 239 posts since
Jul 24, 2008
1. Re: Need 300k of working capital Sep 27, 2008 12:28 PM
Hello thegrizzlybar,

Hope all is well. Sounds like its a great location. Can you tell us a bit more detail about the business? Do yo have a business plan? Have you considered an SBA?
Click to view thegrizzlybar's profile Professional thegrizzlybar 6 posts since
Sep 26, 2008
2. Re: Need 300k of working capital Sep 28, 2008 9:21 AM
in response to: Fortis
Fortis,
The building itself is 13000 square feet. It is currently a pizza restraunt, so the purchase will include all the kitchen equipment. Additionally, there is the possibility that the college might lease from us a house that adjacent to the restraunt that will be part of the purchase. We plan on a complete renovation. The main street planning committee has committed $25,000's for exterior improvements. We need to obtain a liquor license and entertainment permit. There are liquor licenses available, we are in the process of purchasing one. The basement will be a game dance area, the first floor will be the bar and restraunt that will open up to the second floor loft. There are 3 apartments located on the 4th floor of the property, which we plan to rent. The bar will be a hip a trendy place, serving breakfast, lunch and light dinner. Like I said in the inital post, this bar will dominate this college party scene. There are no bars in the area unless you want to drive. With this fact we will attract the locals interested in hanging out with college kids as well. We are not intending this bar and grill to be a "dive", we hope that with our atmosphere local families will want to come for breakfast, lunch and dinner. My partner and I are now emersing ourselves in every piece of literature we can get our hands on related to running a bar and restraunt. We are putting the finishing touches up on the business plan this weekend. We have considered a SBA loan, and it will most likely be our largest source of funding. We though that it might be easier to obtain an SBA loan if we have investors and working capital.
Click to view Fortis's profile Mogul Fortis 239 posts since
Jul 24, 2008
3. Re: Need 300k of working capital Sep 28, 2008 3:05 PM
in response to: thegrizzlybar
Lets talk this week. Email me a time to speak about your company.

Thanks
Click to view thegrizzlybar's profile Professional thegrizzlybar 6 posts since
Sep 26, 2008
4. Re: Need 300k of working capital Sep 28, 2008 4:45 PM
in response to: Fortis
I am available Mondays, Wednesday and Friday before 11 and after 2. Additionally, I am available Tuesday and Thursday's after 2. Let me know whats best for you. You can contact me at 908-391-6996
Click to view thegrizzlybar's profile Professional thegrizzlybar 6 posts since
Sep 26, 2008
5. Re: Need 300k of working capital Oct 6, 2008 2:23 PM
in response to: thegrizzlybar
Update: We have been in talks with the college, and from initial talks, there is the possibility that they will invest up to 33% of start up costs.
Click to view Fortis's profile Mogul Fortis 239 posts since
Jul 24, 2008
6. Re: Need 300k of working capital Oct 6, 2008 3:46 PM
in response to: thegrizzlybar
Thats excellent news! What do we have to do to make that a definate? How is the plan coming along?
Click to view thegrizzlybar's profile Professional thegrizzlybar 6 posts since
Sep 26, 2008
7. Re: Need 300k of working capital Oct 6, 2008 4:00 PM
in response to: Fortis
The talks we had were with the VP of finances at the college. He said that from what we had told him the school would be "very interested" in an alternative investment. He indicated the president would be very favorable towards this, and that it would not be very hard to convince the board given the markets current condition. We would not be able to approach the board for another few months though.
Click to view Fortis's profile Mogul Fortis 239 posts since
Jul 24, 2008
8. Re: Need 300k of working capital Oct 6, 2008 4:06 PM
in response to: thegrizzlybar
Great work. Keep me posted.

Thanks
Click to view thegrizzlybar's profile Professional thegrizzlybar 6 posts since
Sep 26, 2008
9. Re: Need 300k of working capital Oct 19, 2008 8:57 PM
in response to: Fortis
The business plan is complete and we have arranged a meeting with the president of the college this Wednesday.
Click to view alfajergroup's profile Professional alfajergroup 2 posts since
Oct 20, 2008
10. Re: Need 300k of working capital Oct 20, 2008 12:30 PM
Greetings .
Regards to your advert about Need 300k of working capital, I wish to bring to your
notice my interest to partner with you on this great business opportunity.

I am Mr. Sheikh Hasher Maktoum Al Maktoum from Dubai International Finance Holdings. I am running a family business, I wish to continue all communications with you via this email address, as I intend to make an anonymous investment in this your offer, provided you can guarantee the security of my investment capital in your company.

Please kindly furnish me with full business details and proposal for a Joint Venture partnership with you.
I am looking forward for a good working relationship with you.
May the peace of Almighty God be with you .

Your sincerely,
Sheikh Hasher Maktoum Al Maktoum
alfajergroup@gmail.com
Click to view Fortis's profile Mogul Fortis 239 posts since
Jul 24, 2008
11. Re: Need 300k of working capital Oct 20, 2008 11:50 AM
in response to: thegrizzlybar
Great, nice work. Let me know how it goes.
Click to view ilyab0dner's profile Mogul ilyab0dner 63 posts since
Aug 27, 2008
12. Re: Need 300k of working capital Jun 7, 2009 8:05 PM
The best way to raise money is to find a company that can connect you with the right people. Try to google "strong business credit" and see what you come up with.
Click to view Intelicapital's profile Mogul Intelicapital 36 posts since
May 20, 2009
13. Re: Need 300k of working capital Jun 9, 2009 3:53 PM

We have experience in this specific sector. We are currently working with the owner of a Restaurant / Bistro / Nightclub facility. Please contact me at fundsource@intelicapital.com . We would need to discuss this in a little detail to determine if our method of financing is appropriate for your situation.

Thanks,
Brian

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