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Old 05-15-2009, 05:26 PM   #21
Kronin
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... .another thought is, why would this person offer $250k without doing their own homework... seems amateurish and I would seriously walk away.
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Old 05-15-2009, 05:40 PM   #22
CiscoKid
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Originally Posted by Laughing_Gnome_Invisible View Post
Sheffield Lake? Spitting distance of Trader Joe's! Nothing personal, but I have to hate you now.
Hate me, too. North Royalton is still closer to Crocker Park than Norwalk. Although, you do have a lovely virus.
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Old 05-15-2009, 05:48 PM   #23
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My take FWIW:
Keep the offer open and seriously research and discuss it with him over the course of the next year. If you can get through the hurdles of licensing and finding a distributor using your "pilot" batches in your spare time (ie how you already brew now). And you want to get it going, then after your retirement party take three months totally off from brewing. Come back and start the business with the security of the retirement/pension check rolling (assuming you have a pension plan) in...

IMO this is the perfect opportunity. Usually the biggest reason people don't go out on a limb to start a new business venture is that in most instances it means foregoing their current income stream with and uncertantity of how/when it will be replaced by the profits from the business...
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only the $500,000 strippers can handle the load.
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Old 05-15-2009, 06:03 PM   #24
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Originally Posted by The Pol View Post
Luckily, my complete lack of skill and inattention to detail
these are words that I don't want to hear from a pilot!

 
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Old 05-15-2009, 06:09 PM   #25
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Quote:
Originally Posted by GreenwoodRover View Post
IMO this is the perfect opportunity. Usually the biggest reason people don't go out on a limb to start a new business venture is that in most instances it means foregoing their current income stream with and uncertantity of how/when it will be replaced by the profits from the business...
That's a very good point. If you're retired, you can afford to make the business your hobby (if you think you would enjoy that). I know that if I had a backer and didn't need a steady income, there is no way you could stop me from at least taking it to the next step (checking the market, looking at distributors, etc..).

I would recommend doing some exploring and making sure you step back and think about it before you pass the "point of no return".

 
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Old 05-16-2009, 10:07 AM   #26
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Quote:
Originally Posted by Grinder12000 View Post
said he would front me $250K. Sadly - I'm not sure I WANT too!!

for one thing - I can retire in a year (55) - NOT work and have a great living making almost what I make now! OR - I can make a hobby into a job - work VERY hard with stress.

No response needed - just trying to wrap my brain around this.
Ok,

I have a few thoughts, if it were me in your shoes.

Red Flag #1
Wisconsin, looks to have some tough laws in regards to Microbreweries! (google search)

Red Flag #2
Not to be a jerk or anything, but you are a year from retirement! At least wait until then. Make sure that your retirement is not at risk.

Red Flag #3
What are the conditions with this "fronted" money? Is it a loan, or an investment,
An investment can be lost, and there should not be any sort of expected return on this investment at least 2 years, some of that $250K is going to be operations costs
A loan is something to run away from.
A loan that large is like buying another house at this stage of your life,

I don't know what you have already figured out or all of the juicy details
my comments are based off of the info given by the OP


Given that you can and will retire in a year, you are in great health, know that this money is an "Investment", understand all of the legal requirements, and have a pretty solid Business plan

This could be a dream come true !

-Jason
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Old 05-16-2009, 11:13 AM   #27
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I've been retired for seven years. Although I loved all my 32 years working, I was made for retirement. And, as has been pointed out in this thread, work is work, and a hobby is a hobby. I enjoy brewing and my other pastimes too much to ever make a business out of them.
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