I have an idea that can span many different parts of our lives. I have still not found where anyone is doing this at all. So I don't want to let the cat out of the bag.

I have told two different people, one is a very close friend and the other is my uncle. Bot say that it is a great idea and both know that no one is doing it yet. They told me to write a business plan so I could get some investors.

I don't know how to write a business plan so I need a lot of help there.

With investors, do they loan you money, or how how does that work? I don't want to go in debt to do this. I want my company to be debt free from the start.

I would appreciate any help.

If you're looking for ways to go into business without going into debt, check out IdeaCafe's grants. On the main page, you can find a link for information on the Al Marks Inventive Mind Grant.

There's another area worth exploring under Business Grants Update - Free Money for Your Business. That link is also on the main page.

Try googling for grant information. For a search phrase, try "small businesses" grants. You could also add the name of your state to the phrase.

Good luck with your idea!

Nancy
http://www.CreateYourMarket.com
Marketing Ideas for the Home-Based Entrepreneur

Go to your local bookstores, you can find books on how to write a business plan. Perhaps you library has books on this too. Also, if you haven't a bookstore in your area, Amazon online has a book section you might try. Good luck!

Writing a business plan is not easy, but it is absolutely necessary. Consider it your professional road map. With one, you know exactly where you are going. Without it, you are lost.

Here are some Idea Cafe links to get you started:

https://www.businessownersideacafe.com/starting_business/index.php

https://www.businessownersideacafe.com/starting_business/biz_plan.php

Good luck,

T


Tina Brooks, VP Marketing
Brooks Pepperfire Foods, Inc.
Makers of Peppermaster Hot Sauces
http://www.peppermaster.com

Eat more peppers!

When it comes to private money (investors) it is always a loan or profit sharing and you have to have very extensive business plan. OPM (other's people money)come with very high interest rates 12-18% on loans and short terms 1-5 years, and if they want profit sharing you will be looking at 30% plus for up to 5 years...depending on how you two work it out. Many venture capitalists will want to have a say in how the business is run as well.

If you borrow from friends or family...have legal contracts made up by an attorney before money is transferred...and transfer the borrowed money into a business account...never your personal one. Be aware that having family and friends invest in your business can ruin relationships, especially if the business goes bad and they lose their money...so if possible stay away from that route.

When looking for investors, there are very strict SEC regulations that prohibit you from soliciting for investors. Example you can be arrested and fined for placing an ad in your local newspaper that says "Need investors for new business". It is illegal to do so. What you need to do is start telling everyone you know that you are starting a business. Let them know you are in the beginning phases and will have a great business plan to show potential investors soon. Any good investor/venture capitalist will know a good investment when they see...so let the word spread. Word of mouth will be powerful here. Contact local venture capitalists in your area. There are firms out there where all they do is invest in business. The money is out there and if you have a good business plan and people believe in it...the money will come.