I am looking into buying a pet bakery and everything to get it started is just $2,000.- It will be from home and I will bake all of the products ~made to order.
2007-05-31 13:36:13 · 6 answers · asked by Anonymous in Business & Finance ➔ Small Business
besides asking family and friends
2007-06-01 06:26:41 · update #1
For that small amount of money, I would just ask family or friends, put it on your credit card, or get a small bank loan. You could probably even sell enough on Ebay to get a quick 2 grand.
2007-06-01 01:27:07 · answer #1 · answered by tom m 4 · 0⤊ 0⤋
you have to be very specific about how the investor will get their money back (and more, that's what an investment is)
Initially, I think you'll want to get an investor who is also involved in the pet business. Maybe a veterinarian or dog groomer (or a few) in your area would be willing to "pitch in"
Asking for $200 from 10 "investors" would be easier, but do you really want to give away a percentage of your business for a measly $2000.
How about pre-selling your goods. For example; have 10 Vet offices / dog groomers sign purchase orders for a total of at least $200 each over the next 3 months (which really shouldn't be much product)
You could collect from them at that time, but it isn't necessary. Take your purchase agreements to the bank, along with your business plan (I sure hope you have one).
If the bank won't help, take these purchase agreements to the biggest money person you know (maybe one of those vets, maybe someone else) At that point someone might want to invest.
No one will invest with you if you're not able / planning to pay them back. The more detailed and complete your business plan is, the easier it will be.
You must also express that this WILL happen, and that this is GOING to happen, and that involvement is a great opportunity for them. Don't give the impression that you're a wimpy whiner who just wants a few dollars for their next get-rich-in-your-jammies-scheme. You must believe in your goal 100%
2007-06-07 22:47:52 · answer #2 · answered by Lisa 4 · 0⤊ 0⤋
$2000 is actually a small amount of money. Here are ideas ...
If you own a home, get a line of credit.
If you have good credit and own a car, get a signature loan.
Find a friend or relative to loan you the money.
Find a friend or relative to co-sign a loan.
Lastly, find a friend or relative INVEST in the company.
The reason I suggest investing as the last option is that YOU want 100% control of your business, if at all possible.
2007-05-31 20:47:21 · answer #3 · answered by jdkilp 7 · 0⤊ 0⤋
Take out a general loan from your local bank. Pay it off as soon as you start turning a profit, though. Interest starts on the first payment and the sooner the loan is paid off the less interest you will be paying on. Good Luck.
2007-05-31 20:47:56 · answer #4 · answered by Reaganomics101 3 · 0⤊ 0⤋
Try www.prosper.com
2007-05-31 21:14:13 · answer #5 · answered by yahweh550 4 · 0⤊ 0⤋
i would, but....
2007-05-31 20:47:06 · answer #6 · answered by Anonymous · 0⤊ 0⤋