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I am looking to rent a premises but I need a financial backer. What is the first steps i should take before approaching an investor?

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3 answers

Sorry but I don't have expertise in this type of business or country.

Report Rick's answer

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ok thanks anyway Rick :)

Report claudine's answer

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As for most investments you need a great business plan(or in your case extension of existing business plan) If you want to open a type of comedy club similar to a night club you will need to have first your financials clear. How expensive is the premise? How many shows/workshops per week at which price ? Are you serving drinks ( Alkohol or not depending on licence) ? Are you serving food or snacks at which price ? How expensive are the artists/instructors ( including your own salary) ? What is the customer acquisition cost to get people there(what kind of marketing) ? What is the focus( Is it corporate or kids or something else) - doing everything might be interpreted as not being good at anything(depending on investor) ... do you follow the 70/30 split with external artist? What is the competition/ market like ? Why rent and not buy? (Gives collateral) how will your time be spend between the club and your current business activities ?

Also check if not some local or global crowd funding possibities exist . Check if there are some cultural grants that you can apply for etc.

In addition one thing is training the pitch with people who are critical. You need to have your personality in the pitch but you must be having good answers for the financials and facts - and most important know what makes you and this business unique ...

Also think about the kind of investor you want at a which price?

Not sure if this is what you are looking for but in any case good luck and always great to hear about people that want to bring a smile to the world.

Report Steven's answer

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