Hi ya'll,
My husband and I have decided to break off on our own and open our own business. We currently run a business for 2 absentee owners in the custom cabinetry and millwork industry. The owners are not willing to put any more money into this company nor do they have anything to do with the operation of it. So it makes perfect sense for us to set off in this venture and profit from our experience. My husband has 20+ years experience in this field and 4 years management experience in this job plus another two years management in a previous job. I have been keeping the books and handling all financials for the past 2 years, have taken online classes via IRS website and have very good knowledge of our legal responsibilities.
Here's the problem. We are in need of funding for start-up, building lease, equipment, materials, advertising and operating capital to carry us for 2-3 months while we are becoming established. We are looking for 100K. Our credit is poor due to having to file a personal chapter 13 as a result of a medical crisis. We have only 18 months left until we have paid off the chapter 13. We sold our house in order to keep a forclosure off of us and save our VA loan to be used again. Our credit before that was very good and since the bankruptcy we have established very good "unconventional credit" thru our rent, and two car loans.
We have no doubt that we can make this business very profitable due to our experience and the demand for commercial and high end custom millworks. Most of the competition deals in lower end residential. Those that do cater to high end residential, do not deal with commercial. We are in the Atlanta area now but plan to settle our company in the Henry county area. We specialize in Night Clubs and Restaurants. This is our dream and our chance to build something up for our retirement and our children. Is this hopeless or are there any options for us? Any help will be greatly appreciated. Blessings to all, Dawn