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    5 Replies Latest reply on Nov 17, 2009 11:40 AM by LaComunidad

    Advice on expanding home business into shop?

    GarzasGoodies Wayfarer
      Ok so We are working from home right now and needing to expand into a shop. We have new business plan started, Thanks SCORE, and some leads as to which way we can go. My problem is this as always funding. I have most equipment I need but am having trouble getting funding for space. Have found a perfect spot but credit will be a factor. The more I fix the worse it looks. I reluctantly went on disability when my vision problems kept me from getting jobs, didnt want to but had to. Now all we want is off and cannot find any help out there to get beyond this roadblock. All of what we make we hae funded ourselves and would love to know if anyone has any ideas where we can turn. I have been contact by a few scm artists but no real prospects. Any advice on how to make this work?

      Thank you,
      Heather
        • Re: Advice on expanding home business into shop?
          beeyuvey Newbie
          how's about refinancing or a home equity line? business loans are also a good idea but that would depend on how much you made in revenue the previous year.
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          • Re: Advice on expanding home business into shop?
            ICECREAMMAN2 Wayfarer
            Hi Heather:

            The Site looks Great.

            With Xmas in only 38 days, this would be a great time for sales. But it looks like you need a lot of time for orders. I would work until May or June, 2010. Save up some of the profits, for a shop.

            Or better still start wholesaling your Truffles to shops, in your area. Also have a brochure display, beside them, so people can order for their weddings, parties etc., have a code number: Store 001A.

            That way that store would get a small % of the sale, they got for you.

            Also maybe try some Fundraising, with Clubs, etc.

            Having the cost of the shop, insurance, power, ads, etc., etc., may not be the best way to go.

            Also try some fairs, markets, etc.

            Cal
            1 of 1 people found this helpful
            • Re: Advice on expanding home business into shop?
              LaComunidad Newbie

              Have you ever thought of doing a joint venture with others in a related business? Companies today, are finding that joint ventures seem to be a way to help their businesses survive, if you want more information contact me I would be more than willing to give you some advice, and share ideas.

               

              My best,

               

              Maria Smith-Alvira

               

              http://lacomunidadonline.com

               

              http://multientrepreneurideas.com

               


              • Re: Advice on expanding home business into shop?
                phanio Pioneer
                Have you thought about trying to work something out with the landlord or the space you want. Given these tough times, many landlords are willing to negotiate more then you think.

                You could try setting the lease where your payment would be based on your profits and not set each month - as you earn, the landlord earns - or, try a tier system where you start out low in rent and move up as your business gets more established.

                Most landlords, especially if their peoperty has been vacant for a while will agreee to almost anything.

                There are also other funding methods to get cash - like business cash advances or accounts receivable factoring or even purchase order financing.

                If you own your equipment outright, many equipment lenders will buy your equipment for cash in your pocket then sale (on terms) or lease you the equipment back.

                Being an entrepreneur is not easy but if you want to be successful, you have to get creative.

                Business Money Today
                www.BusinessMoneyToday.com
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