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    12 Replies Latest reply on Jan 15, 2008 3:48 PM by intechspecial

    Start-Up Funding

    Marauder Newbie
      Greetings everyone, this looks like a super place for information. I am glad I found it!

      I am looking for sources of funding to start up a Laser Tag facility
      with an add on attraction called Cyber Sport. Large population with
      only 1 facility(small) in the area. I can and will do it better!

      I have approx 50k to invest and will need 100-150k for building build
      out and working capital and I plan to lease the laser tag equipment. I
      have collateral (house/SEP-IRA), but want to stay away from using it.
      Last check FICO was 824.

      What other sources besides SBA should I be researching?

      Thanks in advance,
      Scott
        • Re: Start-Up Funding
          CEO Space Scout

          As I've answered on other posts, some times the person asking for capital is not quite ready for capital.

          Do you have a business plan written?

          Businesses in our network have funded over $8 billion in 2007 so you might want to check into that.

          Before you spend any money at all, get a plan and some information.

          I have written several articles at the web site Idea Marketers under Kathy Hadley, some about getting prepared for capital.

          I hope this helps you.

          Good Luck.
            • Re: Start-Up Funding
              Marauder Newbie
              CEO thanks. I agree, I am not ready for the capital at this point. I have the business plan about 75% complete. I am attending a seminar at the Laser Tag manufacturer later this month and will hopefully leave their with some good information. I will research your articles and thanks again for the help

               

              R/Scott
                • Re: Start-Up Funding
                  CEO Space Scout
                  You are welcome. Believe me, I've seen it over and over again, when prepared, it takes less time to raise capital.

                  Another motto we use in the network a lot is "slow down to speed up".

                  I wish you the best. Just keep going and don't give up.
                  1 of 1 people found this helpful
              • Re: Start-Up Funding
                DomainDiva Ranger

                A business plan is very important, it will be the blueprint for your business, it will however change and becomes a living document as you update, revise and go further along in your business....from start up to seed, to round one, etc.

                Once you have identified the business plan outline you want to use, download it and make a three ring binder each section representing a sectin (point) in the business plan. Start writing. One section at a time. After you have made revisions and have it in Word, then write your executive summary. The Exec Summary is what you give out first.

                I really don't know about banks right now....a lot of them are still having the mortgage blues. That being said, I would start at the SBA level...you will probably get a better rate. I would not use my SEP IRA or home equity unless it was a complete last choice...especially if youo are the breadwinner in your family..they come first.
                1 of 1 people found this helpful
                • Re: Start-Up Funding
                  CorpCons08 Ranger
                  Marauder,

                  When you are ready, I can help you with your commercial financing need.
                  You can contact me at d.skolnick@skolnick-associates.com.

                  CC08
                  • Re: Start-Up Funding
                    LUCKIEST Guide
                    This is a great site. Tell us more. Where are you or the business located (like City and State)/
                    What is your background like education and work experiences??
                    How about timing. How soon do you plan on starting?? Do you have a LOCATION??
                    Others have suggested a Business plan. Also include Marketing in the plan.
                    Also remember SCORE. LUCKIEST
                    • Re: Start-Up Funding
                      fmartin09 Newbie

                      I'm a commercial banker and after reading your email it looks like you might be a good candidate for a SBA 7a or 504 loan. These loans are subsidized by the government and will offer you acceptable interest rates (a lot better than what you'd find from most online lenders). I concentrate on commercial real estate loans, but I might be able to help you obtain your LOC. Simply follow the instructions on how to submit an SBA loan request and then we could help you find the right institution for you... you can read more about these type of loans at:

                       


                      http://www.sba.gov/services/financialassistance/basics/sbarole/serv_7a_useofproceeds.html

                       


                      Best regards,

                       


                      fmartin@prudential-capital.com

                       

                      http://www.prudential-capital.com/
                        • Re: Start-Up Funding
                          CEO Space Scout
                          DEJA VU....LOL

                          I just read this answer in another thread and asked for more information.
                          • Re: Start-Up Funding
                            Marauder Newbie
                            Thanks Luckiest.

                            The business is going to be in the Hampton Roads area of Virginia, loctation is still tbd as I am just starting the site selection process. I am a retired Navy SCPO/E-8. Retired in 2000 and have been working in the defense contracting arena since then but, need a change. Bachelors in Business Management combined with a very strong desire to succeed. I am writing my business plan and yes I am going to include the marketing aspect. I am finding as I write the plan that marketing is going to be a large portion of the plan which I feel is very important in a weaking economy.

                            Scott

                          • Re: Start-Up Funding
                            intechspecial Ranger
                            Sounds like you are on the right path, and I can not give you relevant advice to start-up funding, other then what you already know.

                            I can advice that you will need a strong Web Presence once your company is ready to open its doors.

                            Do yourself a favor, and plan the implementation of a Definitive Web Presence in the planning process.

                            This can encourage your funding provider to make the correct decision for funding your business.

                            Lack of a web presence will prove your companies inability to succeed.

                             

                            Michael Stratton
                            President, Integrity Technology Specialists
                            http://www.intechspecial.com