Advice for Funding for Miniature Golf Course? (credit score, loans, liability insurance)

[MOlney]

If anyone has any, I need advice and ideas for finding funding to build a small miniature golf course in the Ogden, Utah area. Personal financing is limited because of various medical bills. Although I have an excellent credit rating, I haven't been able to obtain any business loans because of a lack of equity. Investors have liked the idea, but decide not to invest because they say that the project is too small. I really don't want to look at any government grants.

I already have the land with an existing building that will work as-is. Everything has been approved through the city. The business has been registered with the state. It just needs a fence, parking, and the course to be built and a business license obtained.

As with previous recessions and depressions, miniature golf has shown to be successful during the current economic difficulties.

Any ideas?

[tortoise]

Originally Posted by MOlney

Personal financing is limited . . haven't been able to obtain any business loans because of a lack of equity.

Can't secure a Ninja Loan . . geez, I wonder why?

[MOlney]

Actually, I wouldn't accept a sub-prime loan even if banks still offered them (and I was starting to look at funding when they were offering them). I always try to be very careful with any financial decisions, which is one reason that I have a good credit score. I have spent over 8 years planning this and I am only interested in good and honest ideas.

[harry chickpea]

More a question than idea - what is the cost of liability insurance on such a business?

As for funding, you might need a silent partner with a buy-out clause.

[maf763]

What kind of costs are you looking at? $20K? $100K?

[texdav]

Bascially you need investor(s). Without equity or assets to put up its has been hard for some years to get business loans. The FDIC for example when they audit banks looks at the loans and the assets that back them.

[MOlney]

I'm not against the idea of a partner if I can find someone who is honest and fair. As far as the liability insurance, I'll need to get back with you in a little bit about it. The estimate for that is on some papers that I don't have with me as I'm typing this.

I am looking for about $80,000 to finish it. About $12,000 for a perimeter fence; $15,000 for parking; the rest for landscaping, concrete work, lighting, etc.

I'm also considering radiant heat through-out the course to allow it to be opened during certain weekends during the winter. People are willing pay to walk in the cold and look at Christmas lights, maybe they would pay to play miniature golf and look at Christmas lights. I'm still looking into that, but it looks like it would cost an additional $20,000 to $50,000, depending on if I do the parking lot too.

I have a business plan, cost estimates, landscape plan, 3D renderings

I also built a 9-hole portable miniature golf course out of wood for charities and family gatherings. Maybe I should look into seeing if that can help raise money.

I have almost all of the miniature golf balls and putters that I would need. I'm also getting ready to start digging out the pond.

I've read that in the Great Depression, a 12-year old could open a miniature golf course in a vacant lot with 90 cents and make a good profit. I'm trying to think if there is some unique and creative way (but honest and legal) of getting this going...

Thanks for the input, so far.