Where can I find an investor who will give me £10,000?
The best way to get money from an investor is not to come to them with some wild idea for a product or an invention that you thought up in the shower yesterday. It’s best not to try to start something new at all as it’s a high risk, unproven, and you’ll probably fail anyway (sorry).
The best way to get an investor is to partner with them and open a tried and proven business. You must be a reliable manager with a track record in that sector and always ask yourself how you can demonstrate that you can deliver results. You don’t need to start a business from scratch either. Instead, find a retiring owner that will offer a managed handover and a good price.
An investment of £10,000 may be setting your sights too low as the amount may not even cover the legal fees for drafting your SPA, which is the document that will outline the legal relationship between you and your partner. If you have experience and can show that you can run a business in your chosen industry, then a more reasonable investment amount to ask for would be between £500k and £2 million.
The good news is that there are plenty of retiring business owners around and far more investors with cash than skilled managers. If you are good at managing a company, you are in a strong negotiating position. Start by finding a potential target, and then ask your adviser for a list of potential partners that have also expressed an interest in that sector. See here for some off-market business acquisition opportunities.