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We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co
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Startup Funding
annielives
subscriber Posts: 1
I am working on opening a cafe in my hometown. The total startup would be around $125,000 if I purchase the building outright. With a three-year contract for deed, it would be $48,000 up front. This covers permits, construction (minimal), equipment, furniture, supplies, insurance, utilities and payroll. The cash flow projections never go negative monthly and the business in turning a profit in year two. My credit score varies between 690 and 705. I have no capital to put in myself. Would it be better to focus on 4 small investors of $12,000 each with a ROI of $18,000 over five years, or find an angel investor for the $125,000? (I have a complete, conservative business plan with all assumptions, break-even, revenue and labor worksheets and contingency plans for a poor market.) What advice can you give me?
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