Forums: Discussions for entrepreneurs and small business.

I am at a crossroads. I have pinpointed my dream, researched how to make a living from my passion, have a business plan, met with SBA, secured signature loans, etc., etc., all the way to leasing my space and displaying my certificate of occupancy. Now, it`s time for the big investment — the one for equipment. I am looking at somewhere between $45-$55,000. I already know I can lease the equipment and use payments for tax advantage, I even have cash for operating expenses for sometime, and an IRA and some stock I can cash in if need be. But, here is the fork in the road. I am feeling anxious and troubled by committing myself to a large, monthly lease payment — in addition to all the other business expenses as well as my home expenses. I am a person who takes commitment seriously and when I give my word to something (like paying for equipment), I keep it, but the uneasiness makes me want to look at other options. Ones I feel better about. So, I come to SUN. I`ve been reading about Angel Investors and wonder if that`s the way to go. I also wonder what steps I take to find them, if there`s an average percentage of the business they want etc. And, is there such a thing as someone or company who helps others by investing money in their company to avoid paying taxes on that amount. Thank you for any help you can give to this presently questioning but future successful business owner.

   You know, that`s really funny. The potential 70-hour work week,  no payday, building  lease, etc. are not a concern at all. I am only concerned with paying back the things I owe and the rest will come. It`s just the matter or owing other people that bothers me for some reason. Commitment phobia, I guess.
   Ah, my business ... I am opening a K9 aquatic & fitness club called Sally`s Place Aquatic & Fitness Center for Dogs. It was named for a greyhound, AOK Speedy Sally, of mine who inspired me to open the place after she died from bone cancer. I had wished there was somewhere like this for her, so now there will be for other people and their dogs.
 There I will have an underwater treadmill ($40,000), a jacuzzi and lap pool. Since I am not a vet or a vet tech, I cannot claim I am doing therapy or giving any sort of medical treatments, yet many studies have shown that hydrotherapy is instrumental in the healing process after surgeries, helps dogs who are having a hard time walking, etc. But, since I am not a medical clinic — though some of people may bring dogs needing that type of treatment (with their vets` OK) —I am focusing more on building muscle tone, exercise, weight loss, and helping ease the pain from arthritis and other aging-related conditions.       
   This type of hydrotherapy is also good to keep hunting dogs, agility dogs and show dogs in tip top condition.
   The jacuzzi is for relaxation, to soothe tense muscles and  bond with their owners. Plus, it does wonders for the owners, too. Both treatments will serve to either relax or tire the dog out which will help eliminate behavior problems and acting out at home.
   The pool is for exercise and some of the above mentioned reasons, plus it`s for FUN.
   I will have a lot of exposure due to my many contacts. So many people already want to add me (my business) to their websites, etc. It`s likely that I will have too many clients rather than too few.
   Other things I have in the works there are: having grief-support groups, massage and doing canine behavior counseling. I also intend to have a groomer there (who will pay me rent) and another person, either a massage person or acupuncturist. I`ll offer birthday parties, memorial services, breed-group play dates and allow breed-rescue groups to do  adoptions there. Some will pay a fee, some will not but it will still get people in to my place.
   This Sunday, I am meeting with a pet photographer who is interested in renting space for a photo studio.
 Sally`s Place is a cute little house that was built between 1890 and 1910. It is now zoned for special use. It`s located on a busy, busy street in an up-and-coming suburb of Dallas where a lot of new building is taking place. I saw a sign recently advertising new home sites nearby starting at $500,000 and going to $2 million.
   Other ideas bubble up all the time, but these are the ones I can think of at the moment.
   I appreciate everyone`s help and insight. Please, keep `em coming. I learn something from each of your posts. I intend to get back to each of you individually, time permitting. But, with a new business and all. ... Well, you understand. :-)  Susan
PS Yes, I have looked for used equipment, but with a field so new, there isn`t any available.