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.
Either way you look at it, no matter what approach you may decide is the right approach, some kine of commitment to finance will be required, whether it`s a loan, lease, or angel investor.
Your uneasiness about committing to a monthly payment probably won`t subside as you realize that a commitment financially on your part cannot be avoided at this stage, in my humble opinion.