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3 Replies Last post: Jan 8, 2008 6:43 PM by LUCKIEST

Financing for expansion vs. Financing for an existing business

Jan 8, 2008 6:35 PM

Click to view RedWax's profile Start-up RedWax 1 posts since
Jan 8, 2008
In October of 2007 I started up a small business out of my home hosting Wine Tastings at local Hotels that would allow me to work under their Liqour License. I am also providing services as an Event Coordinator for Company & Private Events. It is my intention to have a Wine & Cheese Shop that will offer on-site wine tasting and light appetizers to pair with the Wines being tasted. I have been doing a lot of research on start-up costs, leasing spaces and location of my wine shop. I had planned on just starting small and setting goals that I will be able to reach using my own money and not applying for a loan. I am now feeling that I would really like to start preparing for the next step. I really can't go too much futher without an actual store due to the law. Recently I started looking into small businesses for sale with the same types of licensing I would need, so that maybe it would cut the costs down. I have found a small business that is for sale, and I'm interested, but still need to do plenty of research on the company. I have secured a very small start up loan from SBA, but I would like to know if it's even possible to secure financing for this business I'm thinking of buying. Am I totally out of line for even thinking about it?
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Click to view CorpCons08's profile Mogul CorpCons08 1,127 posts since
Nov 14, 2007
1. Re: Financing for expansion vs. Financing for an existing business Jan 8, 2008 6:38 PM
RedWax,

It is absolutely possible.
My firm handles commercial acquisition financing.
We would be happy to speak to you when you're ready.
You can email me at d.skolnick@skolnick-associates.com.

Best wishes,

CC08
Click to view LUCKIEST's profile SCORE LUCKIEST 5,720 posts since
Aug 6, 2007
2. Re: Financing for expansion vs. Financing for an existing business Jan 8, 2008 6:42 PM
Research is good, a Business and Marketing Plan is better. I am a SCORE Counselor.
SCORE is a partner to Bank of America and provides FREE business assistance.
You can visit a SCORE office and talk to a SCORE Counselor or go on line.
And NO , you are NOT out of line for even thinking about it? That is how new businesses succeed.
Good luck, LUCKIEST
Click to view LUCKIEST's profile SCORE LUCKIEST 5,720 posts since
Aug 6, 2007
3. Re: Financing for expansion vs. Financing for an existing business Jan 8, 2008 6:43 PM
in response to: CorpCons08
CC08. Nice talking with you. Waiting for those contacts you talked about, LUCKIEST