It's needed for a good business op that will make way more than i'm putting into it
2007-02-08 12:08:38 · 12 answers · asked by Jakki 1 in Family & Relationships ➔ Family
Similarly to how you might pitch an idea to venture capitalists. Show them somehow that it may make money or that you might learn valuable business skills in the process.
2007-02-08 12:13:11 · answer #1 · answered by Artie 1 · 1⤊ 0⤋
Do not borrow from your parents, if you have invested your money in the business then apply for a loan of V.C
If your business fails, and statics say it will, how would you ever pay your parents back?
Use your business plan and bootstrap your business if you have too, but never borrow from your parents. Most people who start a business all believe it is the best thing since you tube, have you done market research? is this brick and mortar or Internet related? Who is your target market? what are the demographics in that market your product will appeal to? Is the market currently served by another business? What will be your market share? Sales forecast? cash flow projections? Inventory? Labour costs?
There are certain factors you need to understand or you will be in a world of trouble in a very short time and if you have siblings this will cause a major problem for you with them.
Good Luck
Peace
2007-02-08 12:24:14 · answer #2 · answered by nmp948 4 · 0⤊ 0⤋
Talk to them about it. Go over how it's going to make more money, maybe even ask an accountant to go over it with you and the parents. Just don't invest their money in some kind of scam. oh and btw dougboy589, it's spelled LOAN, if you do, PAY THEM BACK. I loaned money once, and when not paid back, I took it to court. Scams are bad, that's bad advice mr. doughboy. If he does that, he could get in trouble
2007-02-08 12:23:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Your parents could be the ones who took care of you when you couldn't take care of yourself (i.e. a crying baby wetting and XXing yourself, food until age 15 or 18 or worse. They are not a means to your investment ideas.
Investing, and the funds, starts with you not them.
If it is a sure thing then why not disclose it to them and share the profit... Sorry..We've all wished our parents would have given or will give us more "cash-ola" to do things that we think will have a greater ROI than they ever attempted to capture.
Welcome to the club and Entrepreneurship!!! Good Luck!!
2007-02-08 12:26:38 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Have a proposal on paper, one good enough to take to a bank for a business loan.
Include how and when they are to be repaid.
And be sure the plan is as solid as you think it is. If it fails you will be in a very bad place with the parents.
2007-02-08 12:23:32 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Money, money, money, see I grew up in NY so I never really asked my parent for money, and they stopped giving my money after I stole that car when I was 13, man were they pissed. But seriously, ask your parents straight up & tell them what it's for, if it's for money then they really will be interested.
2007-02-08 12:21:36 · answer #6 · answered by Anonymous · 1⤊ 0⤋
You don't... businesses are gambles... and you don't gamble with other people's money.
2007-02-08 12:20:43 · answer #7 · answered by Shelley 4 · 1⤊ 0⤋
write a business plan and show them the financials of your plan, and your loan payback strategy, with interest.
2007-02-08 12:20:18 · answer #8 · answered by Anonymous · 1⤊ 0⤋
Tell them the truth or borrow from someone else you know.
2007-02-08 13:00:23 · answer #9 · answered by blazek35 5 · 0⤊ 0⤋
with a great big smile on your face!!!!! and puppy dog eyes
2007-02-08 12:24:43 · answer #10 · answered by Anonymous · 0⤊ 0⤋