My fiancé and I are planning starting a business very soon, and just finished writing up the business plan I can shop around to different lenders.We're anticipating needing a mostly collateralized loan of ~$750k through the SBA, and after putting together some pro-forma financial forecasts, I'm confident the business can service the debt and still make a $150-$250k profit each year in the first few years. Not huge, but def enough for a couple to live on comfortably.Everyone we've talked to about the business plan so far is stoked on the idea and want to invest into it. At this point I'm not sure if it'd be beneficial or not to take on partners. It would be great to have less debt to take on so we can make more profit at the end of the day and pay the loan off quicker, but not sure if it'd be great splitting profits and having to consider how other owners want to run the business. Our expectation would be that if we did take on any partners, they would have to be 100% silent in the operations.Any advice or experience you can share would be great. see hubwealthy.com/wealthy
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