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Need advice on funding options for service business

 
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jimnewman75

posts: 37

Feb 21, 2008 12:29 PM ET    Quote  Report Abuse
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We`re close to being one year old ... and as our service business slowly grows thanks to our own capital contributions (cash and credit), we`ve been contemplating injecting some capital to fuel aggressive growth.  Can anyone provide advice on the general funding options, but what other channels offer creative funding alternatives?  We want to make sure we understand ALL of our options before moving forward.

The funding would be used for commercial space (leaning towards retail space over "office space" to ensure exposure to our target audience: busy professionals, harried parents), salaries (for owners and staff), and marketing.  We`re seeking enough capital to endure the cost of operations for two years -- costs relating to salaries, marketing, and advertising ... and the biggest expense: commercial space.
 
All responses are greatly appreciated!!!
jimnewman752/21/2008 12:31 PM


-------------------------

Concierge of Charlotte, LLC
"Start Living!"

www.ConciergeofCharlotte.com
Jim@ConciergeofCharlotte.com
robertj

posts: 1458

Feb 21, 2008 1:07 PM ET    Quote  Report Abuse
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Congratulations on making it through the first year.

To help our clients, we have identified over 50 possible ways to bring capital into a business. (Too many to delineate here.) Finding your optimum capital strategy will depend upon your specific situation.

The first step is to define more specifically how much capital is needed. This is best accomplished through a business planning process.



-------------------------

Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com


jimnewman75

posts: 37

Feb 21, 2008 1:17 PM ET    Quote  Report Abuse
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I drafted the business plan back during our inception.  Naturally, things change over the course of a year, so I`ll need to revisit it and bring it up to speed.  Also, we`re "shopping" around to understand the expense related to commercial space, so I can give a more accurate capital value after we`ve completed our investigation.
Thereafter, my next step would be ... ?  Contact "Business Growth Masters" for further consultation? 


-------------------------

Concierge of Charlotte, LLC
"Start Living!"

www.ConciergeofCharlotte.com
Jim@ConciergeofCharlotte.com
robertj

posts: 1458

Feb 21, 2008 1:35 PM ET    Quote  Report Abuse
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Jim,

Couldn`t have said it better myself   Wink

Seriously, finding one`s optimum capital strategy is (we believe) a process. An experienced "guide" can help one move through the process smoothly and quickly.

Since the facility may be one of your bigger expense items - it`s a good idea to have a "handle" on the costs.

 



-------------------------

Business Growth Masters, LLC -
Capital Catalysts for Entrepreneurs
Home of the Scalable Business Plan and QuikStart Capital Programs
http://www.bizgrowthmasters.com
info@bizgrowthmasters.com


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