Nov 17 2009
candle making business plan
how can i find private funding to start a home busin. but not thru banks and reg. loan comp. not good credit?
I am a single mother and am unemployed right now and live in a small town. I have candle, bath and body product making experience and would like to start up my own home business. but to be honest my credit is terrible due to identiity theft and poor planning. i need a small loan for start up costs and don't know where to look. any suggestions?
Let's start with the basics:
You need a business plan. A written plan. That identifies what you want your business to do and how you want to do it. Your local Small Business Administration office (http://www.sba.gov) can help a lot with this. They have resources and staff who can work with you developing your plan and filling in all the details.
The SBA can also help you find possible start-up financing sources. You'll have to have a business plan first.
Here's a big one - find and read a little book called "The E-Myth" by Michael Gerber (ISBN-13: 9780887307287) You can find a copy at Barnes and Noble or at Amazon, or your local bookstore. It explains why most small businesses fail (95% tank within the first five years) and what you can do to prevent it.
Remember - your business will not be candles, bath and body products. That's just what you're selling. Your business will be comfort and personal care. And that business has a life of its own independant of what you're selling - suppliers, inventory control, sales, bookkeeping, staff, taxes and accounting, licenses, facilities, etc. etc. Anybody get into merchandising, you're wanting to be in business...
Good luck in your endeavor!
microfinance Himalaya - Candle Making - version 2
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