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Sounds like you have your expansion strategy planned out very well.
For financing - there are many options for your business. Some depend on the amount you are seeking.
We list many resources and information on our website as that is what we do - provide information and resources for business owners just like you.
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So should I stay a a Sole Prop/LLC, or shiould I incorporate? Which would be better to secure financing?
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Well... here goes
Need help getting off the ground.
Well... here goes
I have a idea/plan for my buisness, and need some help working out the details. A little background, I have a small on-line buisness selling some automotive engine related equipment, and I want to expand. Currently my buisness is slow, but the direction I want to expand into is hot. I want to start supplying Aftermarket hi performance engine parts. I am not making them, I will be a dealer for several top name brand components. These parts will be offered to the auto enthusiast crowd. I plan on limiting it to only one Auto Manufacture Brand, i.e.. GM, Ford, Nissan, etc.. it will be the brand that I am most versed in, and that way I will be able to offer the most customer service related to that Brand. I am currently running as a sole prop, but I am looking to either form a LLC or a corporation to limit my exposure, and provide a more professional image, as well as other benefits, I am leaning towards a Corp rather then the LLC. Once I have a sustained cash flow I will be looking to expand and start offering complete and semi complete custom engine builds. I do have experience in this, and there is no real shortage of customers. One other company that is doing this has over 30 orders lined up, and more then an 8 week wait time, with no sign of slowing! I am an active member of several automotive Forums, and I will be advertising on those, as well as Google Adwords.
My questions, I have a few :)
How can I get more funding to purchase inventory? My financial are thin at best, but I believe I have a sound idea.
Are there Angel investors that deal with this type of "Startup" I am not really a startup, but will be heading in a new direction.
What other directions can I look for capital?