Need some help from the experts here in trying to figure out how best to structure my new business venture. I know there is a creative solution here somewhere, I just have not quite cracked it yet but I know it must be possible with $25,000 total cash investment. I do know potential investors, trying to figure out what part of this deal and how they can invest and the terms. I am also able to get financing in the form of a mortgage or other lending. Here is my situation, any advice is appreciated!
I am able to invest $25,000 and I wish to start a used car business. I have located a car lot which I can purchase around $100K and needs about $60K in improvements so a total investment of $160K for the property. Start up costs for the business (dealership license, dealer auction registration fees, signage, rent/mortgage reserve for the first few slow months) should be about $10K to $15K. Dealership vehicle inventory will be covered through special dealership only financing program meant for car dealerships vehicle inventory, so that is covered and I will not likely need any other funds to get my dealership up and running and making money. I don't believe I can swing the down payment for the property purchase AND the start up business costs so I will likely need to get investment help or some financing. Any advice on what you would do here?
