Results 26 to 50 of 116
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07-10-2018, 04:24 PM #26
get financing from velocity motors
Zone Controller
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07-10-2018, 04:29 PM #27
I have a house and I owe about 2/3 of it's current value. I have basically nothing else liquid. Any investments I have right now I won't liquify for at least another year or two.
Credit is in the 700s.
I know things are turning around at banks, but to do this right I would probabaly need like 750-1M. Don't really see a bank giving me that much. Already tried the family route.
About a year ago I made a bunch of phone calls. No one wanted to sell. Honestly, the one "real" operating location in this town is on a small lot with too short of a building. They do business simply because they are the only game in town, but the service is sub par really.
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07-10-2018, 04:36 PM #28
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07-10-2018, 05:02 PM #29
Success in getting VC/private investor money?
First step is a business plan. Like an official, detailed, 1-3 year business plan. This is my rent cost, equipment, payroll, etc. I’m going to hire X number of people and the labor market means I will pay them Y.
If you get past the elevator pitch any investor is going to want a business plan. Also, for this type of business they are going to want to know how you are going to track sales and cash. One of the biggest risks here for an investor is you skim off the top.
You need $1M to start a car detailing business? Are you sure?
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07-10-2018, 05:05 PM #30
Not a car detailing business. You are right though. I definitely need a legit business plan with many of the numbers already figured out.
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07-10-2018, 05:11 PM #31Registered User
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Call Shark Tank
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07-10-2018, 05:13 PM #32
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07-10-2018, 05:14 PM #33
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07-10-2018, 05:45 PM #34
fwiw I would say being a current/prior business owner you are well qualified to do a lot. Leverage your experience when trying to get the loan/ investors
Smaller/ local sized banks are more likely to give you a loan vs your national bank too
We have some cool young professional/ entrepreneurial groups in our town that are nice to get with like-minded folks and bounce ideas and experiences off each other.
Can't recall if you are Bozeman or closer to BS but bozeman area should have some groups to potentially join or at least attend gatherings to get the lay of the land since you are newer to that area and also just get in that mode mentallyskid luxury
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07-10-2018, 08:34 PM #35
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07-10-2018, 08:49 PM #36
Success in getting VC/private investor money?
I know a guy who was into fancy sporting apparel, it took off, Gore Tex or someone bought half and when his first inventory problem hit his family/friend investors panicked and he had to sell the half to the gore Tech leeches. Now he does all the work and owns 1%.
Be careful what you wish for, investors are not your friends.
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07-10-2018, 08:56 PM #37
yea they get all up in your sh*t. didnt mention prior but preference to having it be your own loan/ money bc investors add a huge component
I think you'll kill it- you already get it. just bringing to a new market, which seems like an appropriate challenge. you can doo itskid luxury
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07-10-2018, 09:01 PM #38Registered User
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07-10-2018, 09:04 PM #39
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07-10-2018, 09:18 PM #40Banned
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You want success?
Can you invent, or install, a spray gun that does not require ANY arm strength to use? This has to be the #1 thing that is limiting your market. Imagine a 60 y/o little lady who really wants to be able to roll in to a self-serve car wash and spray some soap and water on her car, but just can't quite spend more than 30 seconds squeezing the trigger on the spray gun..... make it a button or some kind of EZ pull lever and you've just increased your target audience!
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07-10-2018, 10:00 PM #41Jacket Cobbler
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ski & ride jackets made in colorado
maggot discount code TGR20
ok we'll come up with a solution by then makers....
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07-10-2018, 10:15 PM #42
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07-10-2018, 10:50 PM #43Jacket Cobbler
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ski & ride jackets made in colorado
maggot discount code TGR20
ok we'll come up with a solution by then makers....
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07-10-2018, 10:51 PM #44
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07-10-2018, 10:56 PM #45
Think about creating some collateral through crowdsourcing. Sell a subscription - one year unlimited car washes for some reasonable up-front price. Your marginal cost of one wash has to be low. Target market are folks like realtors and sales types who need a clean car for shuttling clients. Besides creating equity it helps to prove the market size when you go for a 7(a) loan like alias-rice brought up. This is an asset play, not an equity play.
I have a friend who opened up a restaurant/brewery with 30 something investors. He was just desperate to see his dream through. DON"T DO THAT!! Been a nightmare for all parties involved.
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07-10-2018, 10:57 PM #46Jacket Cobbler
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www.freeridesystems.com
ski & ride jackets made in colorado
maggot discount code TGR20
ok we'll come up with a solution by then makers....
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07-10-2018, 11:09 PM #47
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07-10-2018, 11:19 PM #48Jacket Cobbler
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www.freeridesystems.com
ski & ride jackets made in colorado
maggot discount code TGR20
ok we'll come up with a solution by then makers....
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07-11-2018, 05:07 AM #49
Success in getting VC/private investor money?
I’m being intentionally vague. .
Sometimes when a VC firm, or a big company sees a good thing, they get their hooks in you because they know you’re going to make the usual mistakes, come back for more, and it’s then when they come in and capitalize on it and drive you out.
Business is brutal.
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07-11-2018, 05:59 AM #50
VC firms don't invest in car washes.
"timberridge is terminally vapid" -- a fortune cookie in Yueyang
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