I plan on traveling for a business selling kites, wind socks and garden spinners. I have heard that there are grants for veterans to help start a business. Was wondering just what I need to do to get started. I will need a 24` enclosed trailer and an RV to pull it with. I figure with supplies and inventory and everything else. It will be around $50,000. or close to that to get started. Thanks, Tony
Answers
Hi Tony,
Grants are generally hard to come by. I wouldn't count on it to start your business.
Before you beg, borrow or steal the 50k, I'd look into starting small to see how things work out. It will help you flesh out some potential problems. What value will traveling have versus one location or online sales? What added (or reduced) costs are involved there?
Since there is a lot more to a business than getting inventory and a truck, make sure you have worked thru your business plan and value proposition. Who are your competitors? Why will people buy from you? Are you competing on design, quality, price, etc? Hopefully not on price...that's very difficult to win.
What margins do you anticipate on your products? How many will you have to sell to meet expenses, overhead, loans, paycheck, etc?
I'd be happy to help with specific questions. Feel free to reach out to me.
Brian Richardson
tcp@thecompanyproject.com
www.thecompanyproject.com
If you have access to a community/junior college in your area, see if they have a Small Business Development Center. They can usually guide you through the basics of starting your business as well as accessing grant funding.
Thanks Gary. I attended a similar in az last yr. Boots to business. They informed me that there were free grants to veterans. I don't want to involve anyone for investing. Unless I can help it. I have my own reason. What if you already have a business and want to make it a disabled veterans business? Does that make sense?
Hi Tony,
The very first step is to write a business plan.
https://www.score.org/business-plan-resources
You should complete this step before you do any other thing.
The business plan should answer basic questions, such as who is your target consumer, how long will it take you to turn cash flow positive, etc.
Getting a grant is the least preferable way to finance a business. You should look for investors. There are many investors willing to help you.
JG
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