Need Help!

SYRForceSYRForce Posts: 1subscriber
edited August 2008 in Startup Funding
   
I have just joined StartupNation ... very good resource ... but I am in need of professional help. I have just acquired a professional indoor football team franchise. I have been involved with a team in this league since day one ... and now have the opportunity to grow a successful team of my own.(the team mentioned sold for $825K after just 3yrs) So here is my dilemma I am in need of some start up capital ... about $25K ... and am willing to give up 20% ownership in the franchise or 10% return. My time table is short. I would like to have funding in place by October 1st 2008. My personal credit is not good (FICO 540) and don’t have any collateral ... I know not an easy task. But I know I can make a success of this venture. I already have a contract with the arena ... in which i will share in concession revenue. I have a local marketing professional who is willing to work on commission to bring in sponsors (that’s how the team generates income aside from ticket sales) I have done some projections and with conservative numbers I estimate that I can make about $50K in profits this year and about $100K the following year (provided the team ha a good year and attendance increases) … I appreciate any help I can get. Thanks in advance. Felix Gutierrez

Comments

  • robertjrobertj Tampa Bay, FloridaPosts: 0subscriber Member
    Based upon the limited information you supplied, I think there are some options for acquiring capital. From my experience and those of my clients, I`d say you `ll have a better chance of funding success if everything is Capital Ready and your opportunity is well structured.
     
    Send me a Private Message (PM) and I`ll be happy to discuss the specifics of your situation.
  • BusinessPlanMasterBusinessPlanMaster Posts: 0subscriber
    Sounds like your best bet is angel investment.  These are typically individuals who invest in the "unbankable" ventures.  Contact the local angel groups in your area. 
    And don`t be shy about promoting yourself.  Write articles about your new purchase -- both about your ownership and about team members -- noting that you are looking for a partner.
    Check with your local banker, insurance agent, accountant, even hair stylist -- these are all people who come in contact with the monied few. 
    Put together a basic plan of what you are going to do to earn the money that you say you can earn.  It doesn`t have to be fancy, just honest and upbeat.
    No, don`t try to hide your credit rating.  Be ready to state why it happened, and why it will never happen again.  Angel investors are the ones most likely to understand your circumstances.
    Good luck!
    MaryAnn
    www.BusinessPlanMaster.com
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