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Forum nameBiz Ideas
Topic subjectRE: Classic Movies video store?
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=103&topic_id=3121&mesg_id=3254
3254, RE: Classic Movies video store?
Posted by bizdev, Sat Dec-06-08 02:36 AM
I just love your passion. And I certainly don't want to add to the negative comments. But once you write your business plan, a full formal business plan, you will find that the start up cost will be HUGE. And the ongoing monthly expenses are likely going to be much higher than you can imagine. You might discover that the start up costs alone will be from $40,000 - $100,000. The monthly expenses could be easily at least $4,000 per month.

Unless you have that kind of money already saved up or already have access to that much cash, you will need to secure a loan. That alone is going to be a big stumbling block. In order to qualify for an SBA backed loan you need to have at least 20% of the start up cash needs on hand. Then they require collateral and excellent credit plus experinece in the industry.

Unfortunately, passion alone just isn't enough these days. Write up your business plan before you go too far with this. I truly hope youu pull this off. (If you need help with your business plan pls see my site below.)

Sylvia
http://smallbusinessstartup.biz
Startup & Biz Plan Help
http://smallbusinessstartup.biz/blog