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I propose a challenge to all the business-savvy pros out there.
For some time now my dream has been to open a camping resort in my country. I love resorts, I love travel and I love creating new experiences for people to enjoy. My Business Plan has been ready for some time and has been examined by professionals, scrutinized, modified and also won a Business Plan Category Award at a local competition. I have done the research and I have a general overview on everything a resort needs to run successfully.
My question to you guys is this. Do you think it is remotely possible for an 18 year old with no hotel experience and barely out of puberty to manage to get loans/investments totaling $7.5 million? I have opened 2 extremely small ventures in the past that are not registered but are profitable, but other than that, nada. If I have the cash in my hands I believe (perhaps deludingly so) that I can make stuff happen. At the moment I think angels and banks will just laugh me out the door if I approach them for 7.5 million.
So what do you think? And if you think they would call for security or something like that, what suggestions do you have that will allow me to build a portfolio and image that in the fullness of time will allow me to get the financial backing? I have all the time in the world and have no problem waiting 10 or 20 years to even get started, but if there is a chance that this can happen now, I would take it.
i propose a challenge to all the business-savvy pros out there.
For some time now my dream has been to open a camping resort in my country. I love resorts, i love travel and i love creating new experiences for people to enjoy. My business plan has been ready for some time and has been examined by professionals, scrutinized, modified and also won a business plan category award at a local competition. I have done the research and i have a general overview on everything a resort needs to run successfully.
My question to you guys is this. Do you think it is remotely possible for an 18 year old with no hotel experience and barely out of puberty to manage to get loans/investments totaling $7.5 million? I have opened 2 extremely small ventures in the past that are not registered but are profitable, but other than that, nada. If i have the cash in my hands i believe (perhaps deludingly so) that i can make stuff happen. At the moment i think angels and banks will just laugh me out the door if i approach them for 7.5 million.
So what do you think? And if you think they would call for security or something like that, what suggestions do you have that will allow me to build a portfolio and image that in the fullness of time will allow me to get the financial backing? I have all the time in the world and have no problem waiting 10 or 20 years to even get started, but if there is a chance that this can happen now, i would take it.
Unless you've got a way to collateralize this loan so that the investor or lender has an assured way of getting repaid if the project can't make the loan payments, you have nothing but an idea worth the paper it's printed on.
Even if you had 50 years of successful hotel business experience, the lending guidelines still apply.
Unless you've got a way to collateralize this loan so that the investor or lender has an assured way of getting repaid if the project can't make the loan payments, you have nothing but an idea worth the paper it's printed on.
Even if you had 50 years of successful hotel business experience, the lending guidelines still apply.
What's the point in having a business plan and doing prior research then? If there is absolutely no risk involved for investors, what's the point? I thought investors had to be very diligent and cautious when investing. Having a 0% risk guarantee doesn't make sense at all.
What's the point in having a business plan and doing prior research then? If there is absolutely no risk involved for investors, what's the point? I thought investors had to be very diligent and cautious when investing. Having a 0% risk guarantee doesn't make sense at all.
What makes you think there is zero risk? Good business fail all the time, plan or not.
Unless you're not telling us something, this carries a substantial risk; far from 0%. If there's some piece of information there that guarantees the project, let me know.
Put yourself in the lender's shoes. If an 18 year old walked in with a business plan and zero experience, no executive staff, no collateral, no money down, and no way to pay back the loan should the venture fail...would you loan you a dime? Not bloody likely.
Could you in fact be sitting on an ATM machine in a diamond mine? Sure. But without all the things I listed above (and more, depending on the loan requirements), we'll never know.
Sorry, man.
That all being said, there's always a chance you could sucker some investor group that goes with a shotgun approach on dozens of projects like this in the hopes that one becomes the next Facebook into giving you the money. But they'll want most of (or all of) the ownership shares and control of the business so you don't destroy the company learning how to manage a business of this size on the fly.
An 18-year-old wants 7.5 million for a camping resort? That would require some real "imaginative" financing - one where the borrower imagines getting a loan and the lender imagines getting paid.
I don't think there are face palms big enough for this.
If this is a real sort of venture you could get it started, since you said you don't mind waiting 10 or 20 years.
First thing is to find a mentor. Some type of VC/Angel type of person that looks at projects and then invests in them. From him you will get experience investing in these types of things and hopefully make money. Get his trust, and then hopefully you can con(vince) him into lending the money.
Second, get a job, work freaking hard for 10-20 years and amass a fortune to do this all on your own.
Third, start smaller. Start something that might only take 1MM to start. Then expand.
Fourth, kickstater/gofundme/etc. Do a bunch of these. Fail to reach your goal, keep the money until you reach 7.5 mil.
is it possible, yes, dont let anyone tell you otherwise,
does it sound probable.. No.
I once did a huge development in Florida, wich cost over 9 figures, but I neded up giving so much of the profit away that I wish I never started the venture.
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