QUESTION.
I am interested in starting a business funding small business for start up capital, leasing equipment, and expanding their current business. I would also like to montior there growth after funding. I do not have a finanical background. I would like to know how would I put a lien on their business etc, while they are repaying the loan. Also what would be the interest rate to charge for my services. I found a franchise similar to my idea (liquid capital of America) but I am not sure if I want to go with a franchise. Other than my questions above, I know I need a business plan, what else would you recommend?
ANSWER.
All your questions will be answered when you do the research to write your business plan. See PICK A BUSINESS, CREATE A BUSINESS PLAN, AND START IT SOON and
FIGURE OUT HOW TO WRITE A BUSINESS PLAN.
In many ways buying into a franchise is very similar to buying a business plan. A good business plan will take you a bit of time and effort to put together. Just like a good franchise situation will probably cost you a pretty penny.
I hope my comments are helpful to you. Good luck! Regards, -Jeff
Jeff Lippincott
SCORE.org Counselor
Princeton, NJ
scoreprinceton @ aol.com
www.scoreprinceton.org
www.jlippin.com
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