Business Starting Grants

What do I need to find a legitimate investor for my business idea?

I found a great need for a business I would like to open in my area, but I have little capital to start. What do I need to do to find investors (how should I prestent my idea so that it looks professional ).

Public Comments

1. Well first. you need a business plan. There are many great books on how to write one. Or, you can visit with a local SCORE counselor (a nonprofit group affiliated with the SBA that does free business consulting http://www.score.org ). Then I would either ask the SCORE rep or google to find out if you have an angel investor's group in your area. That is a group of investors who meet to listen to business plans and decide to invest. Otherwise, just network in the area chambers of commerce, etc. The SCORE folks can also discuss your options in terms of fianancing like micro-lenders and SBA loans. Good luck!
2. A Business Plan, detailed. Investors want to know how much you have invested (money and time). They will not invest if you will not invest in yourself first. make your Business Plan very detail, projection that are realistic, marketing research, profit outlook, and a obtainable 5 year plan of operation and profit. They need to see that your idea will make money and you can repay them in a timely fashion with interest. Good Luck
3. Yes you do need a business plan but for investors you need a modified business plan or what is known as an "Investors' Summary" This has all of the elements of the plan but gets to the amount of capital you needed as cleanly and as quickly as possibly. One place that you can look is on http://www.craigslist.org and you can place an ad there requesting investors in a new business idea. You have to put enough out there to get their attention but not to give away your secret. Make sure you have a non-disclosure agreement ready for signature before you talk to anyone so that at least you'll be 'legally covered' Try this link : http://www.ychange.com/small-business-consulting-articles.html and read some of the articles especially the ones about a business plan and starting a business. Good Luck