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11 Replies Last post: Jun 2, 2009 4:19 PM by RanksIntl

Cupcake business needs a storefront...and a loan!

Apr 7, 2009 3:06 PM

Click to view cupcakecottag's profile Professional cupcakecottag 3 posts since
Jan 21, 2009
Hello,

We are a cupcake bakery and have been successfully operating from home for the last year, but in order to take our business to the next level we need to open a retail location. Cupcake bakeries are the newest addition to the bakery arena and they are very chic, trendy and profitable. We have some very innovative ideas for our boutique style cupcake bakery, a business plan including forecasting numbers, equipment and construction costs, supporting articles related to the cupcake business and 15-20% down on a line of credit of $80,000-$100,000. We have found an excellent location but will need a line of credit to purchase equipment, inventory, pay contractor fees ect. and have some working capital. We aren't sure what our next step should be as far as obtaining a line of credit...any help would be appreciated. We are a four member LLC in the state of North Carolina.

Thank you!
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Click to view ggoodard's profile Mogul ggoodard 79 posts since
Nov 29, 2008
1. Re: Cupcake business needs a storefront...and a loan! Apr 7, 2009 3:43 PM
Cupcake,

Besure your numbers are correct. Buildouts can be very expensive. After you are sure please contact me. My email is in my profile.
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Click to view phanio's profile Mogul phanio 477 posts since
Apr 7, 2009
2. Re: Cupcake business needs a storefront...and a loan! Apr 7, 2009 3:43 PM
Are you very particular about the type of loan? There are many options for you. There are unsecured personal and business loans upto $250K or SBA loans that could help you.

You can also use your financial assets - i.e. if you take credit cards as payments - you could get a business cash advance - not a loan but an advance against future sales.

Would be glad to help you understand your options better - but it would require a cup cake as payment.

Business Money Today
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Click to view cupcakecottag's profile Professional cupcakecottag 3 posts since
Jan 21, 2009
3. Re: Cupcake business needs a storefront...and a loan! Apr 7, 2009 10:04 PM
I also forgot to mention that although the LLC has four members myself, my friend and our husbands only myself and my friend will be running the business our husbands will continue with their "day jobs", they are both executives and will be helping to make all major decisions and financial decisions, we will run the day to day operations. I guess that is important because this business is not our main source of income, our husbands will continue to pay the bills at home, will that make a difference to a bank? Thanks!
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Click to view Inchargeof3's profile Professional Inchargeof3 2 posts since
Apr 19, 2009
4. Re: Cupcake business needs a storefront...and a loan! Apr 20, 2009 3:39 PM
Hi. I am trying to do the same in Colorado. As of yet, if I can get this going I will be the only one in my town. What have you found out so far? I just need a break and I don't want to miss out on being the first one. Any advice is greatly appreciated and good luck to you as well. Thanks, Rebecca
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Click to view Outlaw57's profile Professional Outlaw57 4 posts since
Apr 19, 2009
5. Re: Cupcake business needs a storefront...and a loan! Apr 20, 2009 5:02 PM
Cupcake .... It may be practical to spread the risk with several companies. For example I've worked with a company in Texas on equipment leasing and another bank for working capital. Unless your credit is A rated and you can secure the total funds from a primary lender then this may be an option. If there's interest on the equipment leasing side of your new business let me know. Good Luck!
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Click to view wilfin's profile Mogul wilfin 106 posts since
Feb 22, 2009
6. Re: Cupcake business needs a storefront...and a loan! Apr 20, 2009 10:10 PM
Hi, where in NC are you located?

Quite possibly we can help a fellow Tarheel out. My contact info is in my profile.

Thanks.
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Click to view wilfin's profile Mogul wilfin 106 posts since
Feb 22, 2009
7. Re: Cupcake business needs a storefront...and a loan! Apr 20, 2009 10:10 PM
Where in NC are you located? My contact info is in my profile. Thanks.
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Click to view money4u's profile Mogul money4u 45 posts since
Feb 10, 2009
8. Re: Cupcake business needs a storefront...and a loan! Apr 21, 2009 12:39 PM
I would like to discuss line of credit with you. Please email me at dawnbergeron@hotmail.com
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Click to view cupcakecottag's profile Professional cupcakecottag 3 posts since
Jan 21, 2009
9. Re: Cupcake business needs a storefront...and a loan! Jun 2, 2009 4:05 PM
in response to: wilfin
Sorry, I haven't been on this forum in a while, business is very busy! We are located in Charlotte, NC. We are still looking for a LOC to expand into the retail market. Our goal is to have a shop by the end of the year, we have a business plan and our ideas are unlike any other bakery and/or cupcake shop.

Thanks!!
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Click to view RanksIntl's profile Mogul RanksIntl 93 posts since
May 28, 2009
10. Re: Cupcake business needs a storefront...and a loan! Jun 2, 2009 4:19 PM
in response to: cupcakecottag
Hello!

Cupcakes are a great idea...poeple always need delicious food!
I would like to learn some more about your ideas and possibly read your business plan. Have you found a potential location yet? I would like to help you find you LOC or give you ideas on how to as well as help you locate a storefront if you haven't already! You can find my contact info in my profile.

Renee`
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Click to view RanksIntl's profile Mogul RanksIntl 93 posts since
May 28, 2009
11. Re: Cupcake business needs a storefront...and a loan! Jun 2, 2009 4:19 PM
in response to: cupcakecottag
Hello!

Cupcakes are a great idea...poeple always need delicious food!
I would like to learn some more about your ideas and possibly read your business plan. Have you found a potential location yet? I would like to help give you ideas on how to as well as help you come up with a plan to locate a storefront if you haven't already! You can find my contact info in my profile.

Renee`
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