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Forum nameFinancial Feast
Topic subjectRE: General Funding (need business help)
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=105&topic_id=844&mesg_id=845
845, RE: General Funding (need business help)
Posted by bizdev, Sun Dec-13-09 03:49 AM
First of all your business sounds absolutely terrific. I'm sure that your academy has the potential to change lives. No doubt about that.

I've read through your website and some things jump out at me. In the rates section you don't actually state the rates. Instead you have a sentence that says simply "We understand how difficult times are for the everyday working parentin today's economy." That, combined with your statements here, lead me to believe that you are letting your emotions run your business.

If you want to hold on to your business, you need to make difficult decisions. You don't want to sacrifice your entire business in order to help a few families that cannot afford your services. It is wonderful that you are so passionate about your academy and you don't want to turn anyone away. But it is not business like.

If you want to offer "scholarships", all the better. But you either work your business as a business or as a charity. You need to state your rates up front so parents know that yes, there is a fee to attend. If you don't want to turn any one away for lack of income, then you need to solicit your community for donations toward scholarships. I have no doubt you will attract donors. You can approach businesses for donations in return for advertising on your website, or brochures, or handouts or posters at the academy.

Get creative and get real. If you keep accepting everyone that walks in your door without charging them, you will go out of business quickly.

You're doing a good thing here. But to keep it going you need to change your methods.

Something that bothered me about your website was the page that lists the names (first and last) and ages of the students giving their "testimonials". As a parent I would be very nervous about having my child's info available for all to see. That does not sound safe in this day and age.

You might be able to request funds at Preneuraholics.com (see blog below). In order to do so you will need to provide more details such as how donated funds would be used and how much you need to keep your business alive. But I believe that in your case, raising funds locally for scholarships would work better. Good luck to you and I do hope you can keep your academy going strong.