If you are just starting out on the road to seek angel investment, you need to allow time in terms of preparation and accessing investors and you may need to pitch on several occasions before finding interest from investors.
If you have immediate needs for finance, it is unlikely that equity finance is appropriate. As a rough guide, a minimum of 8 weeks is generally needed from reaching agreement in principle to conclude all the due diligence and investment procedures but this can vary tremendously according to the complexity of the deal and the degree of alignment between the investor(s) and the business. However, it is worth bearing in mind that it can take considerable time to reach an agreement in principle so from first contact with interested investors to final investment it could take 4-6 months.
Angel investing requires clear processes to ensure that the interests between your business and your investors are aligned and to reduce risks for both you and your investors, including carrying out relevant levels of due diligence and structuring the deal through legal documents.
But before you even start this process, you still need to prepare the ground for attracting investors in the first place. Developing a concise, enticing business plan with carefully-considered financials can take a long time in its own right and it is worth investing this time before going out to potential funders.