I too am a Retired, Service Connection DAV trying to get a Dustless Blasting Business off the ground.
I have been acquiring pieces of equipment, as I can afford them, over the last year. All I have left to purchase is the blast pot.
I saw that you're in Louisiana.
I'm in the Mississippi Delta (NW MS)..
If willing to converse, I really need to speak with a fellow Vet who has been there, done that.
Many thanks,
Chris Patton
USAF, RET.
Answers
Chris,
First I want to tell you the world runs because people like you are willing to engage with it the way you're proposing.
To be blunt, it's easy to take out a loan and buy whatever you want to make your project run. The tough question is can you keep up the loan payments?
Another way of asking the question is 'what is the business market like for what I'm looking to do?' If there's lots of work and few people performing it, you've potentially got a lot of customers and paying a loan should be easy.
What you can get stuck with is potential customers who are people who talk and talk and talk and don't buy, and a loan for equipment that's sitting idle.
Honestly, under those circumstances, you'd be tempted to buy all the kids hanging out on the corner cartons of spray paint cans and then offer to clean up their work, you'd be tempted to do that.
The other way to go is to own the equipment up front, which allows you a lot of flexibility in how you service your market. Notice either way you go, you're asking market questions.
What's the market like where you're at?
Is this a process which is flexible to a lot of applications?
Is there a way to use your service and get it free advertising by using it?
Can you do the service in exchange for the real estate / business owner putting up a sign or signs?
Bottom line, what's your potential market look like?
Again, the world runs because of people just like you who are willing to engage with it in the way you want to, and that's a great thing.
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Hi Chris,
Thank you for you question. I don't have any startup experience, but do have some articles on the topic that might be beneficial for you:
https://hbr.org/2016/03/the-limits-of-the-lean-startup-method - Harvard Business Review
https://www.officevibe.com/blog/how-company-culture-affects-human-resources - Office Vibe
https://startupsventurecapital.com/army-to-entrepreneur-a-list-of-resources-a1856738e9e0 - RedWhale
The Veterans Small Business Enhancement Act was recently passed, here is an article that recaps the legislation: http://www.mcdonoughvoice.com/news/20190108/veteran-business-owners-now-eligible-for-surplus. That might be helpful as you look to acquire more equipment.
Best,
Chris
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