How do I get financing to buy an existing business with out my own money or personal credit?
The biz is $30k. what options are there? investors? no banks please.
If you are avoiding banks because of credit issues, you will have trouble with finding investors.
The starting point would be to develop a business plan that shows how you plan to develop the business which includes capital growth projections. Investors (being people with money that have been their done that) will scrutinize this plan, so be sure you are realistic. The best place to find investors is to go to friends and family that already have a reason (I assume) to believe in your success.
I would also recommend going to the Small Business Administration for helpful information on starting a business. They have several links and articles about start up capital.
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If you are avoiding banks because of credit issues, you will have trouble with finding investors.
The starting point would be to develop a business plan that shows how you plan to develop the business which includes capital growth projections. Investors (being people with money that have been their done that) will scrutinize this plan, so be sure you are realistic. The best place to find investors is to go to friends and family that already have a reason (I assume) to believe in your success.
I would also recommend going to the Small Business Administration for helpful information on starting a business. They have several links and articles about start up capital.
References :
You need a backer or someone who’s stupid.
Someone who sees your vision for the business and will pony up the $30K. However, you will now have a partner and owe him a negotiated piece of the company. Probably 50%. You can do all the work, and he’ll sit back and collect his piece.
Sounds fair to me seeing as he’s putting up all the money.
References :