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I need help with a Business Plan & HOW to raise funds. Can you help?

Veteran

Erick Liggons Chicago, IL

I want to open either a Night Center or Safe Haven to get children off of streets.

3 January 2018 6 replies Small Business

Answers

Advisor

Jenny Beall Inver Grove Heights, MN

Start now by developing a top notch business plan. This will be necessary if you are seeking grants for funding. You can also post for grant writers on indeed and potentially even seek to have them paid by a portion of the grant (which some grants allow). I would start small and take on as little debt as possible (maybe even buying a house rather than a larger building until you have the funding) Of course all of these logistics would be written into your business plan. Many of the small business helps in place through the government include programs such as coaching and assistance in writing the business plan, so definitely make use of those.

Advisor

Molly Fortunoff New York, NY

Hi Erick,

Thanks for posting your question! Please feel free to listen to a podcast from Service Academy Business Mastermind on How to Raise Money on Kickstarter with Michael Kim (https://www.sabmgroup.com/mike-kim-kpop-foods/)

I hope you find this helpful!

Best,
Molly

Advisor

David Akre New York, NY

If you're doing good for the community and people know about it, raising money won't be a big problem. Figure out how you're going to do what you want to do, and then go do it. You probably won't need much money if you start small. Go around to local businesses and see if they'll throw you a few bucks. Then promote what you're doing on social media and contact the local press. If you're adding value and making a difference the funds will find you. Best of luck and thank you!

Advisor

Bob Molluro Wilmington, DE

I have helped many small businesses develop a business plan. I can send you an ebook if you feel it would help. Crowd Funding is your most likely source of funds. Make sure you are working with someone who has a proven track record in this as it sounds good on the surface and success is in the details.

Advisor

Emanuel Carpenter Alpharetta, GA

Erick - Seems to me like you want to start a non-profit organization. My opinion is to fund the operation through grants. In order to do so, you will either need to hire an expert grant writer or learn how to write proposals for grants yourself. You'll find lots of good books on how to write proposals on Amazon.

After you've learned to write proposals, you will need to find out which organizations are offering grants. They are usually given out by the federal government, state government, or philanthropists. You can learn who is offering grants on the Foundation Center's website at http://foundationcenter.org/.

Loans may be an option as well. Check out the Small Business Administration's website. They have great loan programs, especially for post 9-11 veterans. Companies like Kabbage and Lendio offer some non-bank options for loans.

Crowdfunding is an option too.

For a great business plan template, I highly recommend Entrepreneur Magazine. You can download it at https://www.entrepreneurmag.co.za/advice/business-plans/business-plan-template/business-plan-template-download/.

Good luck.

Advisor

Lindsey Perotti Brooklyn, NY

Hi Erick,

Thanks so much for posting your question! The US Small Business Administration (https://www.sba.gov/business-guide) offers a variety of business planning tools. There are also a couple different funding options such as Angel investors (https://angel.co/) and Crowd Funding (https://www.entrepreneur.com/article/232301).

I hope you find this helpful!

Best,
Lindsey

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