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Hi everyone,
My name is Christi. I am new to startupnation. I am working on starting an entertainment company in Florida. My first ventures is a teen nightclub. I am looking for ways to get funded. I have a solid business plan which shows the earning potential for this business. My credit is not great, but my partner has great credit. Is there anyone who can give me some good sources for start-up funding. We need about $75,000 to get it up and running.
It takes a lot more than a great business plan to get a business off the ground. That's a great start however.
It will be difficult to get funded for a teen nightclub unless you and/or your partner have applicable experience in the field, can bring your own cash to the table, have strong collateral and great credit scores. Even then, funding is hard to come by.
You likely will need to bootstrap or get loans from friends and family. Once you show you have built up your own source of cash for at least part of the start up capital you might be able to get outside funding from other sources.
You can look at the new peer to peer funding in the signature below, but you likely would not be able to get funded for the full $75K. It can be an additional source however.
Two resources you should definitelly contact are the local SBA or SCORE office in your area and the economic development office/council for your area. Both can point you in the direction of legitimate funding sources that may be available to you.
Best regards,
Molly Donaldson
Try this: Network for Social change...
Hi Christi!
I agree with Molly Donaldson your local SBA or Score office will definitely be the best sources to start.
A couple alternative funding sources are credit cards and Home Equity Lines of Credit. Not a huge fan of using either of these because it can endanger your personal credit, but many entrepreneurs find tapping into these sources to be useful.
Since you are going to be attracting a large number of teens to your nightclub you may be able to get a sponsor to pay you a sponsorship fee upfront for exclusive rights to market at the club, and on all of your own marketing materials. Teens are a demographic that advertisers like a lot and they may pay for exclusive access to your patrons.
Good luck!
Scott Pollov
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