Hey, everyone. Excited to be a part of the community. I searched the forums and couldn't find an answer to my question, so please assist me if you can.
We have a fire-hot product (blah-blah-blah) and have signed an agreement with a manufacturer. There has been interest on the part of distributors but no agreements have yet been signed.
In order to fund our first run of the product, which is a beverage, we need money. We've hired a company to help us secure funds. (I know, I know, but we're trying to get it popping sooner rather than later so...)
But this brings me to my question: Will a bank or an investor look unfavorably on our business model if none of the three principals plan on working full-time for the business? Our projected revenue for the New England area is quite high, and I feel a bank or an investor would say, "Wait, how can they expect to make $X.X mil without anyone working full-time?" even despite the details being delineated in the biz plan.
Does anyone have experience with sitting in front of a banker or investor and saying, "I'd like to borrow $150k+ and the principals will keep their day jobs"? If so, what was the reaction? If not, what did you do, and how did it work out? Did you request extra money to help fund the time spent making the business pop in the first year or two, or did you just work to the bone, doing two jobs at the same time?
Thanks a lot. And, yeah, I'm a noob. Hopefully, flaming isn't a part of the culture on here. lol
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