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    4 Replies Latest reply on Feb 10, 2009 4:13 PM by arkd08

    Is it wise to open a children's boutique at this time ?

    arkd08 Wayfarer
      I'm looking for suggestions on this topic...I really want to but i'm worry about the economy and he bank might not lend me the money...What r the chances that the bank will lend money to a start up business?Anyone know the requirements?
        • Re: Is it wise to open a children's boutique at this time ?
          LUCKIEST Guide
          children's boutique

          Tell us more. Who are you??

          If you want to open a children's boutique, you need a Business and Marketing Plan.

          Then I can give you suggestions, LUCKIEST
          • Re: Is it wise to open a children's boutique at this time ?
            SME_ally Adventurer
            Hi arkd08,

            First thing, don't let a bad economy deter you from starting a
            business. The economy is slow but not stagnant. Mothers will still
            buy clothes for their children, albeit, not as frequently. Banks too
            are still open for business. If you have excellent credit and a sound
            business plan, they will lend to you. However the rate you get may not
            be as favorable. So do compare rates. A good site for this is
            bankrate.com. Also the current state of the economy may be to your
            advantage. The weakness of the
            dollar should fuel international demand. So think about an online shop to complement your brick and
            mortar. Lastly and most importantly, control your costs, be cautious
            and creative!!

            Good luck!

            PS - Banks are not the only source for funding. You can borrow loans
            through P2P lending. These are social sites where people lend money to
            other people. Most often the rates are better than those offered by
            banks. Prosper.com is a good one. I am a lender there. But they have
            temporarily stopped accepting loan requests. Others are zopa.com and
            virginmoney.com. Whatever you do, stay away from credit cards!!

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