Hi Rick,
As a fellow small business owner I feel your pain. Partnerships are tough. Stay away. I lost big trying to help a partner through tough times. Mind you this is someone whom I have known and trusted for 20 years. Bit me in the ass. Trying to get a loan is a bigger joke. I gave up. I had a credit score of 800 +, $25K in the bank, 90K in equipment, own a home, have a car collection worth at least $80K and it made no difference or did it help. If you figure it out clue me in please.
My suggestion is to look back at what you have to offer and start there. Use what you have to create the capital. Start small, use companies like Keystone to create your inventory. Look at your area, what do people need. Look to other small companies that may put product on your shelves on consignment.
Some manufacturers/suppliers may offer cash incentives to stay loyal to a product. Similar to what body shop supply stores do. You may have to take a small hit but it can pay out in the end.
Let me know when you get up and running, I may send you some products to sell as soon as I get back to manufacuring.
Last edited by Vince@Meanstreets; 08-07-2012 at 01:19 AM.
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