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Re: Finding the money...
DomainDiva Nov 8, 2007 2:43 PM (in response to Mellowbelle)First off... WELCOME!!! We are so glad you are here!!!
You have come this far..don't give up!!! what kind of collateral do you have? Is the current owner of Mellow Mushroom willing to lend a hand for a piece of the action?-
Re: Finding the money...
Mellowbelle Nov 8, 2007 3:06 PM (in response to DomainDiva)Unfortunately I don't think that I have any. The current owner and myself had a falling out the other day because he was unhappy that I wanted to go into business myself. Needless to say, I have no job, a little saved money and a great idea.-
Re: Finding the money...
DomainDiva Nov 8, 2007 3:08 PM (in response to Mellowbelle)I looked up Mellow Mushroom Pizza theres one in Fort Worth near TCU. If you are going to franchise....would the parent company help you?-
Re: Finding the money...
Mellowbelle Nov 8, 2007 3:27 PM (in response to DomainDiva)I already tried that too. They wouldn't do it. I was upset at first but they explained that they are currently getting ready to launch 20 new locations. These are all people that have got all their ducks in a row.
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Re: Finding the money...
Lighthouse24 Nov 8, 2007 3:26 PM (in response to Mellowbelle)
How come the deals keep falling through? How come your friends, family, etc. are turning you down? You don't need to post an answer to those questions, but you do need to know the real answer yourself. After all, if you believe in this and Suntrust believes in this, why don't the people who know you and love you?
It sounds as though some of them were willing to invest initially, but then changed their minds. One reason might have been that they felt they'd be risking more on your business (relative to their personal financial situations) than you would be. Whatever the possible reasons, however, you need to find out what they were, and you need to get straight, honest answers -- not so you can try to manipulate the people who turned you down or make them feel guilty in any way, but so you know exactly what to "fix" in your plan or your presentation to ensure that the next potential investor (who doesn't know you and doesn't love you) will believe in this, too.
Hopefully, others on the board will be able to help you find that next investor. Best of luck to you!-
Re: Finding the money...
Mellowbelle Nov 8, 2007 3:34 PM (in response to Lighthouse24)I don't mind answering the question. Most of my family anf friends don't have that kind of money. My brother was interested, but I think that he's just not the risk taker that I am. He doesn't have the money but he acted like he could get it. He just backed out becuase he didn't want to take the risk. I think my grandfather has the money but I wouldn't know how to approach him about it.
I'm close with all the people that I've asked and I'm sure that it's just because they don't have the money.
Thank you for your input, this is all helping out so much.-
Re: Finding the money...
DomainDiva Nov 8, 2007 4:03 PM (in response to Mellowbelle)Ask your Grandfather for the money. Go to him with a contract to repay the money in your hand. You may be surprised at what happens. Good luck.
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Re: Finding the money...
LUCKIEST Nov 8, 2007 4:16 PM (in response to Mellowbelle)It sounds like you are doing every thing RIGHT. The hardest part is coming up with the down payment.
Tell us more. What are you offering investors?? (You do NOT want to give away the business).
First thought - - The owners of the current restaurant - Do they want to expand and maybe become investors??
In reading replies a few names have come up. They might be investors.
sandriconsultants@gmail.com
gathrtingofangels.com
triumph_ig@sbcglobal.net
Good luck, BE CAREFUL. LUCKIEST-
Re: Finding the money...
Mellowbelle Nov 8, 2007 4:46 PM (in response to LUCKIEST)We are currentyly offering the following to the potential investor(s):
We, as the working owner/operators, are completely willing to forfeit all profits until the investments are returned in full, which is expected to take approximately two years, if even that long. In addition to the rapid return, we are offering up 30% ownership of our business for the life of the restaurant, unless the investor(s) decide to sell their shares back to us. Therefore, after the investors have their intestments returned to them in full, we, the working owner/operators, will begin collecting our 70% yearly net profit while the investors collect their 30% yearly net profit. We are more concerned with having a successful business to leave to our children than we are concerned with becoming rich. We understand that with time and patience, all will be accomplished. We also understand that not all investors are interested in rapid returns due to income tax laws or perhaps personal preference. In that case, we are more than willing to work out a return agreement in that reguard. The final decision in either case will be the result of a negotiation between the investors and the owner/operators. In any sense, this is a great opportunity for any investor as we are very flexible and willing to do what is neccessary to better our future.
As for the owners I worked for, they have their hands full with another store they are planning on opening in another city.-
Re: Finding the money...
Mellowbelle Nov 8, 2007 4:54 PM (in response to Mellowbelle)I am currently living in a town called Fairview in TN. There is a town in West Nashville called Bellevue. This is where I am looking to do this. I've lived here all my life and in the past three years it's been crazy all the growth around here. I'm looking at leasing a building (has not been built yet) right in the middle of all the growth. My demographics are amazing. I have so much confidence in this place with the numbers to back it up.
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Re: Finding the money...
Lighthouse24 Nov 8, 2007 4:33 PM (in response to Mellowbelle)
It sounds like your next step is to ask people who DO have the money (and I'm being sincere, not a smart-aleck). When you find them and they tell you "no" (and many will), please don't get discouraged -- learn why they hesitated, modify that part of your plan or presentation, and try again.
What you're doing takes preparation (which you're apparently doing very well), patience, and persistence. Believe me, I know how eager you are to make this happen, yet in business it helps to remember that "no" means "not now" -- it doesn't necessarily mean "not ever." When the universe seems to be conspiring against us today, it may just be making us wait for the right solution tomorrow. So keep trying!
I know part of your original question was how you find more of those people who do have money, and hopefully you'll get some more of the specific guidance LUCKIEST offered above. Perhaps telling us the city in which you're planning to locate your new store would trigger some ideas or people with contacts in that locale.
Again, I wish you the best! -
Re: Finding the money...
assetsbuilder Nov 8, 2007 6:33 PM (in response to Mellowbelle)
Do you have any real estate to secure against the loan? What about a retirement or savings plan? This might help get you some more money.-
Re: Finding the money...
Mellowbelle Nov 8, 2007 8:34 PM (in response to assetsbuilder)No, unfortunately I don't have any of that.
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Re: Finding the money...
Jon.icp Nov 8, 2007 9:35 PM (in response to Mellowbelle)I am in kinda the same boat you are. I have an idea to open a hotel. I have to build from the ground up. I have no money to invest and I do not know anyone with the amount I need to go forward. I live paycheck to paycheck. I will offer 48% of company to any and all investors. I will pay back 80% of profit each year which includes paying off the amount of loan from the investor. I will gross at least $750,000 per year. I will do almost all the work. Finding investors is very hard. Let me know how things are working out for you.-
Re: Finding the money...
Mellowbelle Nov 9, 2007 10:08 AM (in response to Jon.icp)If there is anyone that might be interested in taking a look at my business plan, I'm willing to show it. Any kind of advice or input will be great. I'm confident that I have a great plan, I just need it put with the right people.-
Re: Finding the money...
Dwaz39 Nov 9, 2007 11:19 AM (in response to Mellowbelle)I have no experience going to friends and family as a means of raising capital, but I have read some about Virgin Money. This is a company that essentially formalizes loans between friends and family. Obviously if the friends of family don't have the cash, they can't make the loan, but if they are on the fence about making the loan, approaching them with a very formal arrangement might be helpful in boosting their confidence. I would suggest checking out a site like that because it might be able to give you some advice. Just a thought. -
Re: Finding the money...
LUCKIEST Dec 23, 2007 12:41 PM (in response to Mellowbelle)I am a SCORE Counselor and would be happy to look at your Business Plan.
Please email it to me at "pdeig@juno.com"
Thanks, LUCKIEST
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Re: Finding the money...
Lighthouse24 Nov 9, 2007 12:03 PM (in response to Jon.icp)Jon, I replied to your comment here in your other post:
Investors
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Re: Finding the money...
assetsbuilder Nov 12, 2007 11:04 AM (in response to Mellowbelle)
There might be a solution to your problem. There is a lender that will finance 90% of the transaction, but only if the deal is structured as a: Franchise start-up, franchise acquisition, business acquisition or machinery/equipment purchases up to $1,000,000. You would need to put down 10% and have funds to cover 3-6 months of expenses. Also, how is your personal FICO scores? I would love to take a look at your business plan.-
Re: Finding the money...
Mellowbelle Nov 12, 2007 10:48 PM (in response to assetsbuilder)All of that sounds good. Would you like for me to email my business plan to you?-
Re: Finding the money...
assetsbuilder Nov 12, 2007 11:08 PM (in response to Mellowbelle)
You can send it to my email address: mailto:btrice@assetsbuilders.net Include your contact information as well.-
Re: Finding the money...
Mellowbelle Nov 12, 2007 11:33 PM (in response to assetsbuilder)
ok, thank you-
Re: Finding the money...
gegrus Jan 11, 2009 8:43 AM (in response to Mellowbelle)Hello Mellowbelle
My name is Dmitry, i am from Russia, Moscow
Dear Mellowbelle, please tell me did you find right people,? and please
tell me where are they real investors?
Where i can find investor for my business, please
Dmitry
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Re: Finding the money...
Mark SLF Dec 12, 2007 2:30 PM (in response to Mellowbelle)Instead of utilizing a bank loan have your ever thought of purchasing an existing pizza place with a business note. Some sellers will accept a note where by you make payments on the purchase price and the note is secured by the restaurant itself. If you default on the loan the original owner gets the restaurant back. You may have to offer a higher interest rate to make it worth while for the original owners but your credit rating won't matter and this method can allow you to purchase an existing business with zero down. Just a thought!
Mark -
Re: Finding the money...
henkvincke Dec 23, 2007 6:21 AM (in response to Mellowbelle)send me mail to : henkvincke@hotmail.com-
Re: Finding the money...
CorpCons08 Dec 23, 2007 12:37 PM (in response to henkvincke)@hotmail,
Mind telling everybody where you get your financing options from?
CC08
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Re: Finding the money...
gibson2000 Sep 29, 2008 8:57 PM (in response to Mellowbelle)hi i would like to know more and what returns investors can get. contact me at www.grab-it.synthasite.com or grab-it@live.com-
Re: Finding the money...
gegrus Jan 11, 2009 8:53 AM (in response to gibson2000)Hello
My name is Dmitry
I just checked you web ste on synthasite.com
Well first of all , i looked at it , because i also used synthasaite to create my web page www.geg-rus.com
Second, please tell me does your system work, do you have profit, from this, what about 10$ club, is it reall???
Please reply, let us talk i have idea of web site creating that will be bringing more money, please look at alibaba.com
if you like the idea, contact me
tdmitry999@rambler.ru
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Hey everyone, I'm new to the boards and excited to get some input. First of all I would like to explain my problem. I've worked for a company called Mellow Mushroom (pizza restaurant) for about 3 years. I started working in the kitchen and worked hard to get to management. I made it to management and decided that I wanted to go even further. Me and my wife wrote a business plan to open our own store. We took it to Suntrust bank and they said it was one of the best business plans that they've seen. They agreed to finance our project. Here comes the hard part. We have to come up with 35% down which is $280,000. We've been trying to round up investors and we just keep losing all our leads. We've tried friends, family, etc.. and no bites. Every time we almost get there, something happens and the deal falls through.
I was just wondering if anyone had any advice on how to find investors. We've got the loan, we just can't get the down payment.
Thanks for any help.
I was just wondering if anyone had any advice on how to find investors. We've got the loan, we just can't get the down payment.
Thanks for any help.