Angel Investors?

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Kay Nein's picture
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Joined:
02/13/2012

My heart is heavy this morning.  The owner told us yesterday that he is putting the Inn on the market in March.  I've told no one, so I'm trusting you to keep it quiet.  I have to say that for my peace of mind, no offense. 

We really, really want to stay here.  We've worked so hard to build this business up and, frankly, have nothing to go back to FL to.  If we can keep the Inn, it's an opportunity that we will never get again. 

Are any of you familiar with how Angel Investors work?  I mentioned to another local business man, good friend, last year that the owner might be selling in the next few years and I wanted to stay.  He worked with an AI to expand his business and said that this area is a hotbed for that type of stuff.  Lots of rich retirees up here looking to get involved in stuff like that. 

I was hoping some of you could shed some light on how that worked.  I assume they give us a loan to buy the business and we just pay them back with interest?  I also assume the arrangements can be any way they/we want, but in the long run we want to be the sole owners.  I honestly feel in my heart that with the rate that our business is increasing this year, we can really make a huge profit in the next year or two.  Owner thinks it will take 18 months to sell.  I think it will go much faster than that!  And, honestly all we will get is thank you and pat on the back for the last few years of blood, sweat & tears.  For those of you who aren't aware, the owners are my partner's relatives.

 

Thanks for your input!!  

Ice
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02/22/2010

So sorry,  WOW you guys do an awesome job!  Hope it works out, you deserve it.

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"Do not put off until tomorrow what can be put off till day-after-tomorrow just as well." Mark Twain

 

seashanty's picture
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06/02/2008

 i am so sorry - this happened to me (except it was put on the market without even telling me)  i was so caught up in emotion after pouring heart and soul into the place - i felt betrayed and angry and heartsick - i didn't even try to find a way to buy it.  as it turned out, the eventual sale took years not months and the buyer made payments not all at once ... so i think i could have done it if i could have persuaded the owner to sell to me over time. 

please do approach the owner about this possibility. 

gillumhouse's picture
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05/22/2008

May you find a way to buy it. You two do a great job!

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10/07/2008

Sorry to hear that, I feel terrible for you, you have made the success there, giving 110%. Have you spoken with the owner to possibly continue on as a lease to own purchase?

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Joined:
05/22/2008

I was going to suggest talking with the owner about a purchase.

Don't bank on anything done on line. Everyone is trying those these days. Kickstarter for example. I know several personally trying that route. One needs $400K and so far I think they have about $10K...so while it is great they got that much...it's LONG LONG way from what they need.

And even if you find an investor..you are probably still going to have to pay someone back..NOTHING IS FREE.

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Joined:
05/07/2014

Have you talked with the owners about buying it from them? Would they be open to selling it that way? Would they consider a monthly payment, instead of the big lump buy out?

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