It is easy to see why getting franchise loans may be somewhat easier than gaining financing for other types of small businesses. Franchises, to some degree, come with their own set of marketing research and sort of a ready-made business plan that takes a lot of work out of the business owner’s hand. It also mitigates a lot of risk for the lenders.
Plenty of entrepreneurs have found success with their crowdfunding campaigns. Failure though, is always a possibility—even when the end is in sight and it seems to be a sure thing. Crooked Bottle, an aspiring local brewbub, learned that lesson the hard way.
It is not unusual for start-up companies to encounter difficulties in managing cash flow. If you are worried about being caught short of funds, a business line of credit may be the perfect option for you. Here’s why.
Many entrepreneurs are convinced that banks are not worth the effort for startups, especially early-stage ones that still don’t have a revenue stream, or collateral to back up their financing needs. A question I get all the time is, “Can I ever expect any backing from my bank for a great opportunity?”
Once you’ve identified your product and your market, you can begin building your official business plan. Your business plan is where you outline all of the specific steps you will take as you launch a startup business.
Depending on what kind of business you have, you might not be able to turn to a bank for money. For those for whom a traditional bank is not a viable source of capital, a merchant cash advance can be the answer.
Some aspiring entrepreneurs are so desperate for funding, or naïve, that they ignore the obvious signs of scams and rip-offs on the Internet, praying for a windfall. One would think that with all the sad stories and tools published over the past twenty years, this problem would be behind us.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.