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Advice needed, Welcome to this web site.
The first item an investor will want to see is a Business Plan
Where are you located??, like city and state?? What are your backgrounds??
How did you pick this franchise??
The best advice I can give you is SCORE. Do you know about SCORE??
SCORE is FREE.
Good luck, LUCKIEST
We have the business plan. We are in Ft Myers Florida. My husband is a realtor/mortgage broker and I am a RN. We are looking to open a 4d Ultrasound/Maternity SPa for prenatel women. We are looking to private investors and just don't know what are good terms. Any ideas?
advice needed, Thanks for answering. It is great that you have the business plan
Since your husband is a realtor / mortgage broker, he should be aware of interest rates and terms.
Do you have a Lawyer??
i still like the idea of visiting SCORE in person or online. If you write to a SCORE expert
(and you can pick who you write to, and the topic) they will answer you within 48 hours.
Again Good luck, LUCKIEST
yes...he is familiar with the rates and such but a lot of banks aren't willing to lend big money today....especially on an unsecured loan. Do we need a lawyer??? We have an accountant and have been dealing directly with the owner of the franchise. This is a huge deal and we are overwhelmed.
Every investor is different, so the terms of deals that emerge can vary dramatically. Since you have a business plan, your next step is to present it to investors. If the plan is solid and grabs someone's interest, he or she will propose a deal and you'll negotiate terms from there. In other words, you're pitching yourself and your proposed business -- the terms evolve later.
A good deal is one that gets you what you want ($170K and a chance to run your own business) and gets the investor what he/she wants (a better return on that $170K than is available elsewhere). Keep that dynamic in mind, by the way -- you say that you don't want to "give away" your business or hard work . . . well, the investor doesn't want to "give away" money. Since the investor knows exactly what his/her cash is worth, and the value of you and your business is speculative, he/she gets to call most of the shots in a seed funding arrangement.
The better you present yourself and your plan, the less speculative you become -- and the less you'll ultimately have to put on the table. So be sure to make your pitch and your plan as strong as possible.
Welcome to the community and good luck!
For the amount you're seeking you may can get it independent of an investor. I have connections with lenders and various financial institutions where we might can get you funding based on your credit worthiness. There are some other particulars involved, however, they are a little bit more flexible with funding.
If you'd like to call me, I can get more details from you and see if we can match you to an appropriate program. My number is 281.914.8166.
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hi. my husband and I are looking to start a business....actual we are buying into a franchise. We need $170k to get started. We are looking into loans and investors. What are good terms for using an investor? Such as what interest % and how much of the business do we have to give away?? We know that an investor is going to want some ownership in the business but we don't want to give all our hard work away. We are kinda clueless in this matter and would LOVE some advice!!!!!
Also...suggestions on banks that offer unsecured business loans???? THANKS SO MUCH!!!!!!!!!!!!!