Startup Stories

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2007/01/20 13:02:12 (permalink)

Startup Stories

This is a followup that started with a conversation I was recently having with business owner friend of mine, about capital resources to start up a small business.

I saved money for a year before purchasing my cart and various equip for my catering business. I had no previous experience in this type of business at all. I previously owned a candy vending route here in Houston for 6 years.

Not looking for numbers but how folks started their business? Savings or SBA loan? Investors? First type of business started? Doesnt necessarily have to be in food service.


2 Replies Related Threads

    Matt Gleason
    Health Inspector
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    RE: Startup Stories 2007/01/20 19:11:00 (permalink)
    Hard savings!

    Stick with banks, they are in the money business. Avoid investors even if you think you know the person! Avoid partners even if you think you know the person! Don't use credit cards for long term, the interest will eat you alive!

    You can always use investors later on after your business is booming, at that time banks will be knocking on your door anyway. Banks are like those friends and family that show up after you win money in the lottery.
    Double Cheeseburger
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    RE: Startup Stories 2007/01/21 07:56:57 (permalink)
    we were offered a loan (personal), as well as our own liquidation, and we met the goal set forth on paper(i did some number crunching, and some spreadsheets). our financial obligations was the key to our startup.
    we had nearly everything paid off, and we required very little money to survive. after all that , "its all gravy but the bone"
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