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Thinking of starting my own business.....well kinda

I am thinking of expanding my parents business. They own a nice shop but in a bad location that does not generate any revenue. I see this great place for rent in an ideal location and want to open a mom&pop shop 2. What assistance is available to me?

My parents opened their business over 20yrs ago with cash no forms of credit or cash even til this day. They are old school from out of this country so they are not too hip on resources. I dont have great credit...What options are vailable?

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Anonymous

Asked by Anonymous at 9:07 PM on May. 19, 2011 in Money & Work

Answers (5)
  • Well, everything is a little hard to do. You could work a small business from home until you got the funds, or you could think about taking on a grand or maybe a small loan. How much do you think it's going to cost to start up!?
    kbishop8688

    Answer by kbishop8688 at 9:09 PM on May. 19, 2011

  • Its a service business.. and cant possibly do it from home.

    I can make $5000-10,000 work for start up/
    Anonymous

    Comment by Anonymous (original poster) at 9:13 PM on May. 19, 2011

  • SBA Small Business Association---Look this up, you have to have a business plan etc and present it to them and if they think it would fly then they loan you the money. They like women, minorities and businesses that cater to underprivileged neighborhoods. For instance a daycare that gives a sliding fee scale for single moms that work to support their families. Good Luck to you!
    angelgirl62

    Answer by angelgirl62 at 9:20 PM on May. 19, 2011

  • My husband waited til we got our tax returns in and used that as venture capital.
    AmourSpork

    Answer by AmourSpork at 9:37 PM on May. 19, 2011

  • I know this is of no help ~ BUT ~ I think you should follow in your parent's footsteps and accrue NO DEBT!!
    7blessings

    Answer by 7blessings at 1:32 AM on May. 20, 2011

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