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View Full Version : Where to get money for starting out?


NEUSWEDE
09-22-2003, 02:15 PM
I know most of you young and old have started your business from nothing and turned it into something. I have read posts but haven't talked much. This spring I am starting my own company once I graduate from college. I have the drive to do and won't be defeated. My ulimate question is where do I get the money for the things I need? I am young and don't have much credit, not much saved because I have been paying for college, I wouldn't ask my parents and I don't know of anyone to invest in my company and I have looked. Would the bank really give me a small business loan? any tips hints or suggestions would help.
Thanks
Dylan

bruces
09-22-2003, 03:22 PM
Most equipment companies have financing available - you might check some out in advance and see if you qualify.

Otherwise, look at used equipment and upgrade as you grow your business.

Team Gopher
09-22-2003, 10:07 PM
Hi NEUSWEDE,

Here is an article that may spark some more ideas for you.
HOW TO RAISE MONEY TO START A BUSINESS (http://www.katsbiz.com/articles/startmoney.html)

And an inspirational quote:

"Whether you think you can or whether you think you can't, you're right! " Henry Ford

studentlawn
09-22-2003, 10:32 PM
check out your local SBA Score Office, ask for help, they will give you free conseling, give out loans themselves, or could probably point you in a direction.

tiedeman
09-25-2003, 01:30 PM
start out with another part time job first with mowing on the side, then after the mowing comes through switch over to the mowing full time

LilRabbit
09-30-2003, 07:49 AM
I get alot of emails saying "You qualify for a $25,000 grant, just pay $19.95 to find out where to get them". Has anyone ever received one of these or paid the 20 bucks to find out more? I'm sure I'm not the only one to get these e-mails.

crawdad
09-30-2003, 08:07 AM
Originally posted by NEUSWEDE
I know most of you young and old have started your business from nothing and turned it into something. I have read posts but haven't talked much. This spring I am starting my own company once I graduate from college. I have the drive to do and won't be defeated. My ulimate question is where do I get the money for the things I need? I am young and don't have much credit, not much saved because I have been paying for college, I wouldn't ask my parents and I don't know of anyone to invest in my company and I have looked. Would the bank really give me a small business loan? any tips hints or suggestions would help.
Thanks
Dylan

Many of us got startup money, and inspiration, by busting our butts at jobs we dreaded going to each day, for years. You could try that.
Crawdad

Hawkeye5
09-30-2003, 04:13 PM
Damn Crawdad. Reality bites. True, true, true.

jajwrigh
10-13-2003, 08:06 PM
In my experience take it slow. Buy what you can afford and save your money for new equipment when you need it. Remember you need to learn to crawl before you can walk.

Haley Lawn Care
10-14-2003, 12:44 AM
I got my first mower with a tax refund. It was used around $970.00 and 36". Got a new one around 1 to 2 years later and paid cash for it. Also as I made enough money I got blowers weedeaters and edger. Drove my first mower onto the back of my truck. Finally got a trailer to put all the equioment on.

David :)

kppurn
10-14-2003, 01:38 AM
Dylan,

Your options are unlimited. Many have offered great routes to venture. If you are serious and motivated, you will find a way. To quote John Allin(from this site), "If you think you can or think you can't, you are right." Good advice I must say.
You may try working for a well respected company in your area and learn the ropes. At the same time you will see the day to day operations while saving money to start your own business. That's the route I chose. I'M NOT SAYING THIS IS THE ONLY ROUTE TO GO. It's what has worked for me so far.
Just graduating from college, this may not sound all that glamorous, but it may provide a means to an end.
Educate yourself on the business side as much as you can. You can never know too much. What did you go to school for? Use that to your advantage. Not knowing your situation, I can't give you an exact plan to follow. That's for you to decide. There are two sides as far as I can see.

1) Technical: Information on what you are trying to provide. This would be landscaping/lawncare or whatever else you want to provide the potential customer.

2) Business: Running a business and making a profit is obviously separate from what herbicide to apply and when, as well as the general maintenance and installation practices.

Your customer's have a problem. Identify the problem and provide a solution. The problem can be simple or complex. Make sure you can provide a solution to the complex and they will thank you for it and trust you in the future.

This is a basic reply, somewhat generic I guess, but somewhere to start. Explore all of your options to raise the capital you need to get where you want to go.

Best of luck to you

Southpaw
10-14-2003, 06:10 PM
Advice that I have personal experience to offer.

Without previous credit history or a knock dead business plan, the BANK will smile while they say NO. The SBA will not help you if you are a college educated white male. Not to knock any minority or female applicant, but if you go to the SBA as a white, college graduate male, you will not have much luck. As far as SCORE, I tried that too, but with little results. They gave me such 'generic' advice, it did not pertain to my current needs. For anybody that reads this and thinks my comments are racist or anti feminist, please understand what I am saying. I tried these routes and they did not work for me. Maybe it worked for you and I mean no harm to those of you that were helped by any of these organizations. But realistically speaking, a recent college graduate with no post college experience, with little or no credit will have a hard time borrowing money unless the parents help out, which is out of the question as the post indicates. My suggestion (and only a suggestion) is to work for a big LCO and learn all you can. When you feel confident enough to break out on your own and can afford even the most basic of equipment, then start up. Nothing sucks worse than to hang your shingle and wait for the phone call that never comes. Be humble and patient and save your money! Don't tell your LCO boss that you want to break out on your own. Let them teach you what you need to know, bide your time and you can be your own boss before you even realize it. Like I said earlier, I'm not the best advice giver, but I went through the same things your post asked about and I'm doing OK in my first year. Getting things started and getting over that first hump is the hardest part. Good luck to you and be careful about 'free' advice. Sometimes it is only worth what you paid for it! LOL