Need Help

[GYSER]

Ok bro's and broet's

heres the deal.....I have an opportunity to maybe go into business with a friend of mine. I bumped into him over break, and he made an offer..just the other day I called him on it. He lives a few states away and wants me to come down for a few days to check out his facility and see what I can bring to the table....

now what should I do??
try to create a business plan and look for an investment from him?

or should I go into a partnership with him??

keep in mind he is prob worth 1.2 million a year and I am worth shit....(still in college) but I have the perfect Idea that any real venture capitalist would love to hear.....

so should I try it with him
or wait for a couple more years until I have a solid Business plan, and can get real money backed by seasoned professionals?

 

[HumorMe]

If he is doing 1.2 million a year, why does he want you to go into business with him?

Venture capitalist are nothing more than glorified loan sharks. They usually require you to sign a contract that will give them a percentage of forever.

Think long and hard before going that route.

 

[PoyeBoy]

Dude, trust me that pyramid shit does not work.

 

[GYSER]

it's no pyramid scheme at all...

I went to high school with this guy, I met him out over turkey break and we started talking about what we both have been up too. I told him I was still in college (business management and entrepreneurial studies) He went on to tell me he own a few fitness facilities. I told him that one plan I have has not been thought about by any one else in the fitness industry and the capital gain is close to 4.7 billion dollars (it's an untapped market) he told me that he is interested to hear what I have to say....

now I know that anyone would love to hear what I have to say about it....but I am afraid of some one else who has the capability of doing it, just taking my idea.

I spoke to a my lawyer and he told me to put it all on paper, so I have to make a business plan (I never made one) so he can issue a paper for this guy to sign off on...

but if I am making a business plan, should I just present it to other investors??? since it will be well written and already thought out??

or do I have this guy sign off any and all rights and maybe see if he wants to help with the financing of it???

or bring him on board since he already has some field knowledge, and some financial backing????

this sux, bro's I have like 3-4 weeks to make a business plan and I don't even know how I want to approach the situation....

any bro's or broet's with some business knowledge please give some good points of view....I am pulling my hair out...so many possibility's's but no freaking direction....I have a great opportunity, and I don't want to screw it up...

thx

 

[HumorMe]

it's no pyramid scheme at all...

I went to high school with this guy, I met him out over turkey break and we started talking about what we both have been up too. I told him I was still in college (business management and entrepreneurial studies) He went on to tell me he own a few fitness facilities. I told him that one plan I have has not been thought about by any one else in the fitness industry and the capital gain is close to 4.7 billion dollars (it's an untapped market) he told me that he is interested to hear what I have to say....

now I know that anyone would love to hear what I have to say about it....but I am afraid of some one else who has the capability of doing it, just taking my idea.

I spoke to a my lawyer and he told me to put it all on paper, so I have to make a business plan (I never made one) so he can issue a paper for this guy to sign off on...

but if I am making a business plan, should I just present it to other investors??? since it will be well written and already thought out??

or do I have this guy sign off any and all rights and maybe see if he wants to help with the financing of it???

or bring him on board since he already has some field knowledge, and some financial backing????

this sux, bro's I have like 3-4 weeks to make a business plan and I don't even know how I want to approach the situation....

any bro's or broet's with some business knowledge please give some good points of view....I am pulling my hair out...so many possibility's's but no freaking direction....I have a great opportunity, and I don't want to screw it up...

thx

OK....you sound like you have some business savvy and by doing the footwork of establishing dialogue with your lawyer, you obviously believe you are onto something with this idea.

I don't know how well that non-compete contract will hold up in court if your FRIEND happens to find out what cards you are holding. Hopefully it will hold up just in case.

Do a search on google.com and look up business plans and how to write them. When writing your business plan, make sure you are conservative in your estimates on projected sales. Be liberal with your cost estimates for establishing your business foundation and startup costs.

Just because your friend does 1.2 million a year doesn't necessarily qualify him as a potential investor. Be careful around him regardless of how well you know him. Money and greed will win out over a friendship most everytime.

Find yourself a private financial backer to achieve your dreams if you don't have the collateral to use a bank. Financial backer doesn't necessarily mean a venture capitalist. A private backer would only require payments be made to him at maybe a slightly higher interest rate than banks can lend.

PM me and we can do this by email if you want to talk more.

 

[notoriousQQ]

Ok bro's and broet's

heres the deal.....I have an opportunity to maybe go into business with a friend of mine. I bumped into him over break, and he made an offer..just the other day I called him on it. He lives a few states away and wants me to come down for a few days to check out his facility and see what I can bring to the table....

now what should I do??
try to create a business plan and look for an investment from him?

or should I go into a partnership with him??

keep in mind he is prob worth 1.2 million a year and I am worth shit....(still in college) but I have the perfect Idea that any real venture capitalist would love to hear.....

so should I try it with him
or wait for a couple more years until I have a solid Business plan, and can get real money backed by seasoned professionals?

Please pm me your great idea. I will let you know after I read a thorough presentation of whether or not i, errr, i mean you have a good idea.