Forums: Discussions for entrepreneurs and small business.

Hello, My name is Jeff Brown. I am in the prossess of opening a inflatablerental company.  The total amount to purchase the equipment is between 20,000 to 35,000.  If I have poor credit and have no one to turn to for a co-signer what route should I go from here.

devildog9973  Just a Thought ( I always start that way ), start  smaller, save up and buy one or two pieces, and rent them via internet ie craiglist or other local classified.( save the brick and mortor cost ) then bootstrap pumping the proceeds into more pieces ( this will also give you a better feel for which items rent more) .With a few purchases you may be able to bargin with the manufacturer to extend you some terms, say 30 days, so you might expand a bit faster as you move along. Just be aware terms from a manufacturer need to be honored, otherwise they may not sell to you in the future even if you pay cash.

It will take longer to generate pocket money but at least you won`t be sitting with a bunch of debt to repay.

 

yep, I agree with wtgg, go that route, you might even talk with a rental company and start out by being the middle man. You take what they rent and spend your time doing better marketing efforts and capture business that way. Your price wont be the cheapest, but if they find you and not the rental company then hey, your making money and you didnt have to buy any equipment.