Comments on: Tip 03 – How to Get the Money http://www.sublimited.net/starting-a-skateshop/tip-03-how-to-get-the-money.html Skateboarding and Nothing Else Wed, 10 Mar 2010 14:27:25 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Grinders http://www.sublimited.net/starting-a-skateshop/tip-03-how-to-get-the-money.html#comment-4216 Grinders Thu, 25 Feb 2010 10:59:15 +0000 http://72.47.194.169/?p=241#comment-4216 Matt, If you are serious then start right now. I know this might sound strange, but consider you are starting the business today, right now in fact. Open your wallet how much money do you have and how much do you have in savings that you can spare? Do whatever it takes man, skip meals especially going out to eat and buying soda, quit smoking, quit driving your car, skate, walk, ride a bike, bum rides, seriously whatever you can to save money and put it away and save it if you truly are down you'll get there and on the plus side you'll be healthier too! When money is tight you still have options unless you are currently without a job, then that's an obvious problem that needs to be fixed first. So don't even waste your time dreaming about starting a biz unless you are living at home with your parents in that case hit them up and see if they can help, don't they love you? I could tell you a few way to get money, but I'm not recommending them... Fake a mental illness, it's easier then you think. Just go down to your local library and read the DSM4. I know someone that makes a very nice living eating and watching TV because he read enough to fool the doctors and is now 100% disabled. Mental illness can be hard to prove and their going to dope you up on something that will have side effects and cause real problems so use this too. Plasma centers are cool for quick cash and you can do it three times a week get paid right there and get free juice and cookies, just be warned that these places are frequented by the homeless. I once saw someone puke all over themselves and then when I went to leave the same person passed out after exiting the building. The bum closest to him robbed him and I didn't donate for a long time after that. Loved ones are great because they truly want you to succeed and do well for yourself, but you have to ask if you can honestly make it work and pay them back! Seldom do people actually paid others back, their business will fail or something stupid will happen and then you're both assed out. Be honest, that's the best way to be after all so ask yourself if you have the resources to make this work, because if you don't know then you gambling and chances are you'll lose. My advise is to save money and put it away! Work on developing contacts for your primary area of focus because some of these companies won't sell to you until you've been open for awhile even with a shop so find out how that whole gambit works. Set up your business plan, find information on your area, start looking at buildings, fixtures, go to trade shows and start doing the work. If you don't have money yet you can still get a lot done and at the same time you'll quickly realize just how expensive and involved this whole thing is. I also recommend you go buy a day-planner and start filling it up with all the random things you'll need. It's like pieces to your own business puzzle and you've just got to figure it out and put it all together, but the most important thing is that you have to work on it constantly. Remember it's like a baby and you need to focus your attention on it constantly and feed it and just figure out what it needs. Oh wait I guess it's more like a twinkle in your eye, but your not sure if the girls really into you or not so find out it you can make things happen first or get over it and move on. FYI last night I read a billionaire success story and basically he worked all sorts of odd jobs before finding something he like doing and did it for twenty years saving his money his whole life first then starting his own business. Hope you get something out of this, Chris Matt, If you are serious then start right now. I know this might sound strange, but consider you are starting the business today, right now in fact. Open your wallet how much money do you have and how much do you have in savings that you can spare? Do whatever it takes man, skip meals especially going out to eat and buying soda, quit smoking, quit driving your car, skate, walk, ride a bike, bum rides, seriously whatever you can to save money and put it away and save it if you truly are down you’ll get there and on the plus side you’ll be healthier too!

When money is tight you still have options unless you are currently without a job, then that’s an obvious problem that needs to be fixed first. So don’t even waste your time dreaming about starting a biz unless you are living at home with your parents in that case hit them up and see if they can help, don’t they love you? I could tell you a few way to get money, but I’m not recommending them… Fake a mental illness, it’s easier then you think. Just go down to your local library and read the DSM4. I know someone that makes a very nice living eating and watching TV because he read enough to fool the doctors and is now 100% disabled. Mental illness can be hard to prove and their going to dope you up on something that will have side effects and cause real problems so use this too. Plasma centers are cool for quick cash and you can do it three times a week get paid right there and get free juice and cookies, just be warned that these places are frequented by the homeless. I once saw someone puke all over themselves and then when I went to leave the same person passed out after exiting the building. The bum closest to him robbed him and I didn’t donate for a long time after that. Loved ones are great because they truly want you to succeed and do well for yourself, but you have to ask if you can honestly make it work and pay them back! Seldom do people actually paid others back, their business will fail or something stupid will happen and then you’re both assed out. Be honest, that’s the best way to be after all so ask yourself if you have the resources to make this work, because if you don’t know then you gambling and chances are you’ll lose.

My advise is to save money and put it away! Work on developing contacts for your primary area of focus because some of these companies won’t sell to you until you’ve been open for awhile even with a shop so find out how that whole gambit works. Set up your business plan, find information on your area, start looking at buildings, fixtures, go to trade shows and start doing the work. If you don’t have money yet you can still get a lot done and at the same time you’ll quickly realize just how expensive and involved this whole thing is. I also recommend you go buy a day-planner and start filling it up with all the random things you’ll need. It’s like pieces to your own business puzzle and you’ve just got to figure it out and put it all together, but the most important thing is that you have to work on it constantly. Remember it’s like a baby and you need to focus your attention on it constantly and feed it and just figure out what it needs. Oh wait I guess it’s more like a twinkle in your eye, but your not sure if the girls really into you or not so find out it you can make things happen first or get over it and move on.

FYI last night I read a billionaire success story and basically he worked all sorts of odd jobs before finding something he like doing and did it for twenty years saving his money his whole life first then starting his own business.

Hope you get something out of this,

Chris

]]> By: Matt http://www.sublimited.net/starting-a-skateshop/tip-03-how-to-get-the-money.html#comment-3708 Matt Sat, 23 May 2009 04:53:35 +0000 http://72.47.194.169/?p=241#comment-3708 I've been dreaming of starting a skate shop for years. There's this little strip mall with a 800 sq foot office space right on the corner before entering a Wal Mart that is just begging for me to open shop. Trouble is I barely make enough to pay the mortgage, utilities, and put food in the fridge. My credit isn't that great and I called the bank and a few other lendors about getting a loan and I got denied at all of them. My suggestion to those out there that still got the hope is get a credit card (just one) and get the largest credit line you can get and keep the smallest balance you can. If you can keep a balance under 15% of your available credit and maintain that for a year, your credit will sky-rocket and so will your chances of getting a fatty loan for the shop you been dreaming to start. For now, I'm trying to throw dollars in savings by selling old tools, cds, and video games. And selling the occasional used deck at the skate park. I'll get there someday. Maybe someone can chime in on how to get the money I need when I have bad credit and no real assets. I’ve been dreaming of starting a skate shop for years. There’s this little strip mall with a 800 sq foot office space right on the corner before entering a Wal Mart that is just begging for me to open shop. Trouble is I barely make enough to pay the mortgage, utilities, and put food in the fridge. My credit isn’t that great and I called the bank and a few other lendors about getting a loan and I got denied at all of them.
My suggestion to those out there that still got the hope is get a credit card (just one) and get the largest credit line you can get and keep the smallest balance you can. If you can keep a balance under 15% of your available credit and maintain that for a year, your credit will sky-rocket and so will your chances of getting a fatty loan for the shop you been dreaming to start.
For now, I’m trying to throw dollars in savings by selling old tools, cds, and video games. And selling the occasional used deck at the skate park. I’ll get there someday.
Maybe someone can chime in on how to get the money I need when I have bad credit and no real assets.

]]> By: foolio_iglesias http://www.sublimited.net/starting-a-skateshop/tip-03-how-to-get-the-money.html#comment-1150 foolio_iglesias Tue, 16 Oct 2007 16:00:29 +0000 http://72.47.194.169/?p=241#comment-1150 If I ever decided to open up a skate shop,the start-up money would have to fall in my lap.Or I'd just go with my original plan of self-service barbershop.Or waterless laundromat.Like those waterless car washes. If I ever decided to open up a skate shop,the start-up money would have to fall in my lap.Or I’d just go with my original plan of self-service barbershop.Or waterless laundromat.Like those waterless car washes.

]]> By: Grinders http://www.sublimited.net/starting-a-skateshop/tip-03-how-to-get-the-money.html#comment-1149 Grinders Mon, 15 Oct 2007 17:06:48 +0000 http://72.47.194.169/?p=241#comment-1149 This is the reality of starting your own shop. I agree that the best way to start your own shop is to save and write a well written business plan. Two years might seem like a long time to wait, but you'll have the capital to launch and a great plan to guide you. Remember the business plan if for you first and foremost and you need to change it and update it often. I started my business with my savings and more than half went right into the building for repairs and to bring it up to code. I could have found another building that I could just move into and setup shop, but I really liked the location and the layout. I had to start slowly and I'm glad I did. At first I wanted to fill the shop with everything I could buy, but in order to stay open you need to have money set aside to cover at least two months and emergencies. It's scary especially when it comes to purchase orders, you need to be realistic and know your local market. Don't be afraid to ask or show the kids your catalogs and include your employees and get them involved in purchasing but don't let them go crazy remember you need to move this stuff. My favorite saying is "This ain't no museum". I had a former boss that would always say this to us and his voice still haunts me, but it helps me choose items to sell rather than just getting what looks cool or letting vendors take over your business. Utilize your credit and get some good cards and some sweet offers but be picky and wait for the right ones to come around. After you open your doors everyone is your best friend and the card companies will throw you some sweet offers with huge lines of credit, so snag a good one when you see it, but use these with caution. I moved my purchasing over to credit cards to increase my purchasing power because now Net 30 turns into six months or a year interest free. I recommend continuing good accounts payable practices by paying off debt every month and your credit score will continue to increase. Last bit of advice to include in your plan is a contingency. The shop might not do as well as you hope and you still have to cover your expenses so be prepared to get back out their and work for a regular paycheck. There are also temp agencies, construction jobs, and my personal favorite, plasma centers that can cover the bills in a hurry. Just be aware that if you want this business to succeed you might have to do anything to keep it going until you can make it work and pay yourself. On a side note, don't expect to pay yourself for the first couple of years, put it back into the business and built it up. That's just my bit of advise based on how I did things. It would have been easier to just get a huge loan and rock it from the start and if you go this route that's awesome just be cautious and remember you have to pay it all back with interest. Chris This is the reality of starting your own shop. I agree that the best way to start your own shop is to save and write a well written business plan. Two years might seem like a long time to wait, but you’ll have the capital to launch and a great plan to guide you. Remember the business plan if for you first and foremost and you need to change it and update it often.

I started my business with my savings and more than half went right into the building for repairs and to bring it up to code. I could have found another building that I could just move into and setup shop, but I really liked the location and the layout. I had to start slowly and I’m glad I did. At first I wanted to fill the shop with everything I could buy, but in order to stay open you need to have money set aside to cover at least two months and emergencies. It’s scary especially when it comes to purchase orders, you need to be realistic and know your local market.

Don’t be afraid to ask or show the kids your catalogs and include your employees and get them involved in purchasing but don’t let them go crazy remember you need to move this stuff. My favorite saying is “This ain’t no museum”. I had a former boss that would always say this to us and his voice still haunts me, but it helps me choose items to sell rather than just getting what looks cool or letting vendors take over your business.

Utilize your credit and get some good cards and some sweet offers but be picky and wait for the right ones to come around. After you open your doors everyone is your best friend and the card companies will throw you some sweet offers with huge lines of credit, so snag a good one when you see it, but use these with caution. I moved my purchasing over to credit cards to increase my purchasing power because now Net 30 turns into six months or a year interest free. I recommend continuing good accounts payable practices by paying off debt every month and your credit score will continue to increase.

Last bit of advice to include in your plan is a contingency. The shop might not do as well as you hope and you still have to cover your expenses so be prepared to get back out their and work for a regular paycheck. There are also temp agencies, construction jobs, and my personal favorite, plasma centers that can cover the bills in a hurry. Just be aware that if you want this business to succeed you might have to do anything to keep it going until you can make it work and pay yourself. On a side note, don’t expect to pay yourself for the first couple of years, put it back into the business and built it up.

That’s just my bit of advise based on how I did things. It would have been easier to just get a huge loan and rock it from the start and if you go this route that’s awesome just be cautious and remember you have to pay it all back with interest.

Chris

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