For the past month or two I have been working on getting a licensed in home kitchen. I have been buying things on Craigslist and getting all of my ducks in a row. I had looked into getting a store front, but pretty much gave up on that because on two teachers' salaries it just wasn't going to happen!
Then last night, a wonderful lady that I have known for a couple of years just calls out of the blue to ask if I am interested in an investor for my bakery!!! For real??? Yes, I interested!!!
I have NO idea how this works, but I definitely think it's worth checking into. Any one out there have an investor or any info about this? Any tips or advice are greatly appreciated! Thanks!
I don't have a direct answer to your question, but if your work is like your avatar....wow! You'll be a smashing success! Best wishes!!!
I too had a lady at my church interested in being an investor for me. I prayed about it and thought long and hard. I decided not to go with it. I didn't want to be the person who does all the work and had to give someone else power over how I do my work or the use of my money. I know when it happens for me - it's going to happen on my terms. Whether it is through a bank, grants or mad money.
The person who wants to invest with you may have different ideas how they want to invest. You won't know until you talk to her more and see where she's coming from.
However, if I had been working on a licensed kitchen and are where you are - I wouldn't change my plan. You already have a great thing going for yourself.
Good luck! You will do a great job no matter what your decision is.
Be very wary! Really, you should only partner up with someone you know really well and trust. I had a friend who was a florist who partnered up with a friend of hers...well, the friend ended up embezzling from her and the authorities said she couldn't go after her legally b/c, as a partner, she was legally entitled to take money out of the business! She ended up stuck with the business with all of these bad contracts her friend had set up and couldn't get out from under, ended up going out of business after trying to hang in there for a year or so.
I would be wary, myself. However, it could be a great opportunity for you. I would just make sure that everything was as clear as it could be before you make any large decisions. Get lots of input from different people, talk to a lawyer about everything and make sure communication is very good, all around. Good luck!
First off CONGRATS!!! You sound very happy.
I wish I had other words for you but I do not have any knowledge in this area. I'm sure the other posters know what they are talking about.
I would however say that you should sit down with this lady and see what kind of investor she wants to be. Maybe you can talk terms of being a silent partner and seeing what she thinks of buying her out in a years time!
You may want to try asking a lawyer some questions???