- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
entrepreneurs- help needed
Posted on 3/22/16 at 3:23 pm
Posted on 3/22/16 at 3:23 pm
I want to start my own company, problem is the startup cost will be a ton of money and In order to be successful we will need a good location which will also cost a chunk of change. Depending on location I could end up needing north of 6 million( I'm pretty set on my location and it'll will probably bring the total to 8-10 million)
My questions
What's the best way to get the money?
--my family has a few connections that i could work
-- go to a bank?
-- do they have places to go pitch my idea for funding, like a shark tank thing
What's your advice on writing a BP?
-- been working on research for my BP any thing I should/ shouldn't put in there(mention competition or no)
--is there a place you found helpful for writing? Should I use a website for help or do it on my own.
Does LSU offer any services that I can take advantage of?
Does the city/ state offer any tools to help?
I'm in the early stages of all this but it is something I'm really interested in doing.
Any general advice for owning/ starting your business.
Also if any of you OT ballers see you are more than welcome to invest.
My questions
What's the best way to get the money?
--my family has a few connections that i could work
-- go to a bank?
-- do they have places to go pitch my idea for funding, like a shark tank thing
What's your advice on writing a BP?
-- been working on research for my BP any thing I should/ shouldn't put in there(mention competition or no)
--is there a place you found helpful for writing? Should I use a website for help or do it on my own.
Does LSU offer any services that I can take advantage of?
Does the city/ state offer any tools to help?
I'm in the early stages of all this but it is something I'm really interested in doing.
Any general advice for owning/ starting your business.
Also if any of you OT ballers see you are more than welcome to invest.
4
Posted on 3/22/16 at 3:39 pm to MLSter
You're not going to get anyone to lend you $6M for an idea.
Start much smaller, prove the concept, and grow it.
Start much smaller, prove the concept, and grow it.
Posted on 3/22/16 at 3:40 pm to Menji
The concept is proven in other markets. As usual LA and BR are just behind the curve.
Actually it's kinda here but not on the level it should be and any reasonable person will see that and invest. My dad is currently out because his already in to far in another investment. I'm hoping some of his friend buy in. But still need to explore other options
Actually it's kinda here but not on the level it should be and any reasonable person will see that and invest. My dad is currently out because his already in to far in another investment. I'm hoping some of his friend buy in. But still need to explore other options
This post was edited on 3/22/16 at 3:44 pm
Posted on 3/22/16 at 3:46 pm to MLSter
Top Golf? I have no idea what you're looking to start, but this came to mind. Not sure you can do it for $6 million though--we have helped build several and there is some expensive parts--real estate, technology, kitchens and bars.
Posted on 3/22/16 at 3:50 pm to JoseVargasTX
I dont think topgolf would just give a franchise to someone who doesnt have experience in that world but has a ton of cash.
Posted on 3/22/16 at 3:52 pm to JoseVargasTX
Haha no not top golf or main event but in a way it's similar to both. And as you can see both are entering BR (or potentially) so the market is there. Just need the money. Well mainly it's the land. And I want it off the Interstate which will cost a ton. But be very critical to its success
And it's not a franchise either. What it is really doesn't matter for what I'm asking. Unless y'all have $6mill
And it's not a franchise either. What it is really doesn't matter for what I'm asking. Unless y'all have $6mill
This post was edited on 3/22/16 at 3:54 pm
Posted on 3/22/16 at 3:58 pm to MLSter
Here's my advice--
1. People who invest money or provide funding want to see clearly, their return on investment. Find a way to show how this happens.
2. People who invest money or provide funding, especially this amount, want to know that the person who they are investing in has the "know how" to run the business/operation.
Good luck.
1. People who invest money or provide funding want to see clearly, their return on investment. Find a way to show how this happens.
2. People who invest money or provide funding, especially this amount, want to know that the person who they are investing in has the "know how" to run the business/operation.
Good luck.
Posted on 3/22/16 at 4:00 pm to JoseVargasTX
I'm curious why you think you're going to turn a $10 million investment into a profit when you don't even know where to go to get an investment.
This post was edited on 3/22/16 at 4:01 pm
Posted on 3/22/16 at 4:03 pm to JoseVargasTX
You said you helped build some top golfs. What exactly is it that y'all built or installed.
Posted on 3/22/16 at 4:04 pm to JoseVargasTX
Can you forecast the operating/cash flow statements for the next 3-5 years? What assumptions are you using? How are those validated? Do you or someone vested in the business have experience in this space? How and when does an investor get their money back and more?
Posted on 3/22/16 at 4:09 pm to StringedInstruments
Like I said I think I can get the money from some of my dads friends but i still want to put my best work forward and make sure it looks the best it can.
It should turn a profit fast but is still a long term investment. As for the money it's mainly for the land which is an investment in itself. If the company fails whoever bought the land can just turn around and sell it and possible make there money back Idk
It should turn a profit fast but is still a long term investment. As for the money it's mainly for the land which is an investment in itself. If the company fails whoever bought the land can just turn around and sell it and possible make there money back Idk
Posted on 3/22/16 at 4:19 pm to schexyoung
Most numbers I'm using are from similar business in other areas and I'm using the data to project somewhat of a forecast. I have enough experience as needed in the field and more in management.
As for how and when do investors get there money back. Isnt that something that happens when talking to them. I can show turning this much profit after one month but wouldn't that all be discussed with investors at the time of investing?
Also I'm willing to pay myself near nothing until I pay them back and I think that will help convince them to invest and shows I'm determined on paying them back ASAP.
I have consider getting the investors to buy the land for themselves and then setting up a long term lease agreement with stipulations stating I have to pay lease plus show profits of whatever to re-up the lease. But i would eventually like to own it all outright so i don't know how I feel about that route. Even though it would save me a ton of money
As for how and when do investors get there money back. Isnt that something that happens when talking to them. I can show turning this much profit after one month but wouldn't that all be discussed with investors at the time of investing?
Also I'm willing to pay myself near nothing until I pay them back and I think that will help convince them to invest and shows I'm determined on paying them back ASAP.
I have consider getting the investors to buy the land for themselves and then setting up a long term lease agreement with stipulations stating I have to pay lease plus show profits of whatever to re-up the lease. But i would eventually like to own it all outright so i don't know how I feel about that route. Even though it would save me a ton of money
Posted on 3/22/16 at 4:23 pm to MLSter
Again - the first question you want to answer is do you want to sell debt or equity?
You could do a combination of both. You said most of it is land. You could get a collateralized loan for that. The land could be collateral/your house.
Equity for getting the business up and running for non-real installations. You could fund this with debt too. Collateral could be equipment and maybe A/R.
Get a LOC for operations (A/R collateral).
You could do a combination of both. You said most of it is land. You could get a collateralized loan for that. The land could be collateral/your house.
Equity for getting the business up and running for non-real installations. You could fund this with debt too. Collateral could be equipment and maybe A/R.
Get a LOC for operations (A/R collateral).
This post was edited on 3/22/16 at 4:25 pm
Posted on 3/22/16 at 4:28 pm to MLSter
It's indoor skydiving, duhh
Posted on 3/22/16 at 4:33 pm to MLSter
Plumbing work--none of the fun stuff.
Posted on 3/22/16 at 4:36 pm to JoseVargasTX
Ok nevermind.
haha not indoor skydiving. People do this?
I want to own it all eventually but I'll probably do a mix of both but those are the decisions I suck at making and will keep flip flopping on
haha not indoor skydiving. People do this?
I want to own it all eventually but I'll probably do a mix of both but those are the decisions I suck at making and will keep flip flopping on
Posted on 3/22/16 at 4:43 pm to MLSter
This is an awful lot of money for someone with zero experience running a business to raise. The fact that it or something similar works in other markets doesn't guarantee success in your market.
The big question here is that IF you could somehow get the money and it flops how do people get their investment back?
The big question here is that IF you could somehow get the money and it flops how do people get their investment back?
Posted on 3/22/16 at 4:53 pm to VABuckeye
I honestly don't see it flopping. At all. There is a demand and very very limited supply. In fact there is currently one other company providing the service but they missed the opportunity to corner the market and meet the demand. This is where I will slide in. Knock them out and be the sole provider for BR and surrounding areas.
My dad has mentioned some of his friend possible donating the money because what I'm providing kinda helps the community and is good for Baton Rouge and LA. but I want to act like I won't have any help so for your question idk how they would get there money back except for resale of land and building. But again it's fail proof.
As for experience in running a business. The startup cost probably make it seem like a big company but in fact it's not. Maybe 5 full time people max. And I have experience in management.
My dad has mentioned some of his friend possible donating the money because what I'm providing kinda helps the community and is good for Baton Rouge and LA. but I want to act like I won't have any help so for your question idk how they would get there money back except for resale of land and building. But again it's fail proof.
As for experience in running a business. The startup cost probably make it seem like a big company but in fact it's not. Maybe 5 full time people max. And I have experience in management.
This post was edited on 3/22/16 at 4:54 pm
Posted on 3/22/16 at 4:56 pm to MLSter
quote:
My dad has mentioned some of his friend possible donating the money
I don't understand. You can get 8-10 mil in "donations" yet you are thinking about going the much tougher, almost impossible route of getting someone you to loan you the money or invest? Instead of wasting time trying to do the latter, I would spend all of my time trying to corner those "donations."
quote:
But again it's fail proof.
Said every startup ever. If anyone thought their idea wasn't fail proof, why would they sink millions in it? Yet, businesses fail. You have to be ready for worst case. In fact, in case of starting a businesses, statistics say you are more likely to fail. So prepare for the more likely scenario. If it kicks off, good for you. I am not trying to deter you from trying it out and giving it your best shot, but simply letting you know it is not all a bed of roses.
This post was edited on 3/22/16 at 5:00 pm
Posted on 3/22/16 at 5:08 pm to AmeriKop45
Again this is just my what my dad is saying. If it was true I wouldn't be asking for advice so I'm planning for worst case where they can't/won't put up the money.
And yes Ik they say most companies will fail but to me and the people I've told, this just doesn't seem like it can. But I'm trying to think of all possibilities
And yes Ik they say most companies will fail but to me and the people I've told, this just doesn't seem like it can. But I'm trying to think of all possibilities
Page 1 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News