I would keep it simple so as not to run afoul of any securities laws. Offer them a promisory note secrued by the business itself. Put in specific payment terms,maturity, interest rate (in accordance with state regulations) and default remedies (what can they get if you fail)

This gives them something a little more "solid" then trying to deal with selling shares and securities.

Hope this was helpful and best of luck with your venture

>Hi Eveyone-
>I posted awhile back about Big Bank Blues, Thanks to those who
>replied! Well I am still working on my project, a small
>restaurant start up, and It looks like I am going to bring in
>a few smaller investors. I have 2 of the 5 I need lined up and
>I have to pitch my plan soon. I have not gotten with my CPA as
>it is that time of the year, the lawyer is my next stop but I
>know he'll want money just for talking about so I am looking
>here for some advice on how to set this up.
>
>They are going to be limited investors, How do I set this up?
>
>Do I lay out terms for retun and dates buy out?
>Or
>Do I just let it go and grow and buy them out as I can or as
>they want out?
>
>Help!
>Thanks in advance
>
>CJL, Ohio