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Wanting to start a business, questions about funding

Figure the best way to find out how to finance a business would be to ask people who have successfully done it so far.

A little background. My credit is still kind of shot from when I was 18 with medical bills so that makes it harder to get a traditional loan. I'm getting a small settlement of around 25K over the next few months and wanted to invest it into my own thing. I currently have a great job but the idea of building my own income is exciting. I'm mainly interested in starting a higher end brick and mortal electronic cigarette store in a market that isn't currently over-saturated but I know I'll realistically need 100K for building out the space, stock and keeping things going the first 6 months while business builds.

Would I be better off looking for private financing or will the fact I'm injection 25K of my own money into this help me get normal business funding?

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Thanks to both of you. Marvin, the main reason I'm staying away from online is because it's becoming over-saturated and quite competitive. I'm pretty well rooted in the community so I may still have a chance but I've found a market in California that is still seriously lacking any real B&M shops with a good college population that I feel would do great.

Apr 28, 2014
Marv White
Hartford County, CT
Premium Broker

Hi Dominic... Mr Barrick has offered some solid advice that I agree with. I would like you to consider another alternative for your desire to "do your own thing". Consider an online store as a precursor to your brick and mortar store.

You can have a significant online business with a budget of $25K. The knowledge you will gain from being profitable online will transfer to your brick and mortar store. Additionally, this allows you to keep your job and pursue your dream with less risk.

Apr 28, 2014

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