I`m just posting to give some great news, and a lot of it aught be credited to the minds here. Bootstrapping - I didn`t think it was possible for a cafe, but it is. Here`s the deal: I`ve been preapproved for 75,000 by unsecuredsolutions.com. I`m not going to open a building cafe to start. I was talking to my consultants and they had mentioned the profitability of cafe carts, esp when located in hospitals. The startup cost for a cart is 25,000. I cut that down a bit by having some good networking and finding old highschool friends on facebook and such, who work in the depts I need, like graphic design and logo/sign work. We`re going to open two carts, self employed. I`ll still own the company as it`s my name on the loan. I`ve got a few thousand to cut the loan a bit. We`ll have two carts and 25,000 to spare. Then, when the carts bring in the profit, we can pool it to own a building outright. In the mean time, we`ll both be self employed and proud. Wow, I`m doing cartwheels right now. This years long daydream is going to happen. I`m going to shop banks for the best deal, but I know I have 75k if I need it. I also know I have 15k from the investor if we use that as well. I know I only need 50k total. The rest is safety net. I`ll be saving a fortune a year on employees alone. I seriously think that SUN will have another notch in its belt. Woo!!!
MattTurpin5/29/2009 11:39 AM
Making limitless possibilities much more limited.