I want to start an upmarket adult club and I have all the ideas and I need to generate the capital recuired ?
Posted by admin on 16 Apr 2010 12:56 pm. Filed under Small Business.
One Comment to “I want to start an upmarket adult club and I have all the ideas and I need to generate the capital recuired ?”
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On April 18th, 2010 at 2:20 am
Put together a document you call your “business plan” and explain in detail how you are going to make money and where the company is going to go. The purpose of this document is to making a bank believe there is absolutely no way your business will fail and they should fork over a loan.
Aside from having an outstanding business plan, bring about 20% of the amount you would like to borrow as “earnest” money. Typically, it can be really very hard to get a business loan without having some form of initial investment from your end. 20% is a good number and shows the bank that you are laying a lot on the line too, not just them.
If a bank won’t talk to you, there’s the usual routes – family and friends for startup, or “Angel” investors, who are people with a little extra cash that are more willing to invest in something risky as the rewards can be great.