Share what you know with millions of people
Focus is the best place to turn what you know into remarkable content
0
How much personal capital should I use to start up a franchise?
I am about to embark on a new business. I want to know how much personal capital I should spend before borrowing from a bank or personal investors. Is there a secret rule like 60-40 to starting up a new company? Is it just based on how much an individual can pay before reaching out to a bank?
Events
- Dos and Don'ts of Small Business Marketing May 29 @ 11 am PT
- Lead Nurturing 202: The Next Generation May 31 @ 11 am PT
- The Tricks to Paid Media June 6 @ 11 am PT
- Display Advertising for Brand Awareness June 20 @ 11 am PT
Related Activity
1 Answer
I am about to embark on the same journey yet, because of it is service oriented I am not anticipating a huge capital investment.I do think that your personal circumstances play a major role in your decision. I for instance am a 58 year old married man with four kids,one still in College. Yet I have the luxury of a successful working spouse. My wife has been on board and is my partner in major decisions.
If I were a single 20 something I would have a completely different approach. Also I have found the folks at the SBA and more specifically SCORE to be a great resource on any number of levels and if they can't help they will direct you to someone who can. What I find to be a bit of a hurdle is finding a business plan that is oriented towards the service/training industry.
Answer This Question