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    3 Replies Latest reply on Nov 4, 2008 6:32 PM by NoBullFunding

    Starting a new Business

    Primordia Newbie
      I am currently in the market to start a Game Center on Long Island, New York. I have found a location, and are already in lease talks, but I am new to the whole process of applying for loans for a business and getting a Business Plan together. Any ideas on where I can start? I do not have a lot of money to spare so expensive consulting is not for me.
        • Re: Starting a new Business
          BeachGuy Newbie
          Dear Primordia:

          A good place to start is go to: www.myownbusiness.org

          This is the home page for a Non Profit. They offer a FREE online course on how to start a business and how to avoid a lot of mistakes. There is material there on dealing with banks and help on business plans.
          1 of 1 people found this helpful
          • Re: Starting a new Business
            kevhan Adventurer
            There is a lot you need to know and have prepared before you sign a lease. Be carefull and make sure you fully understand the requirements of this venture. The main item will be cash flow. Let me know if you need some advice on this. As far as business loans most banks require you to be in business for two years with good financial statements showing a profit.
            • Re: Starting a new Business
              NoBullFunding Scout
              I would not recommend signing a lease if you don't have a business plan or funding yet. Right now, banks are turning away their best customers, so startups have very little chance of being approved for a loan unless you have lots of cash to put into the deal.

              Talk to SCORE. It's free and they can help you get your ducks in a row. Forum member Luckiest should be able to help.