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While we are on the subject of free interprise. I am looking for an investor to purchase a major league baseball franchise and move it to Saint Albans. I would be more than happy to run the organization for you. Please send me a pm if interested.
Wouldn't you have to go in competition with the Charleston Charlies? That's a tough order.
We have a fair grounds in Monroe, WA that has flea markets just about every weekend, so it can work. Keep on looking and check out the fair grounds if you have one. Most of the buidings are empty throughout the year. contact@celebratingmystory.com
Thanks Connie,
I dont really need a long term partner. What I really need is about $35,000 - $50.000 to start the market. I have found a few empty buildings but short on funds. I have figured out close to what my profit will be. I could give back around $2000 to $4000 a month in payments. I wish the banks were easier to get a unsecured loan from. Im not giving up hope. There is a way for this to happen out there somewhere.
I dont really need a long term partner. What I really need is about $35,000 - $50.000 to start the market.
But you won't be risking your own money for your flea market idea. That's wise.
Quote:
Originally Posted by Hopeful22
I have found a few empty buildings but short on funds. I have figured out close to what my profit will be. I could give back around $2000 to $4000 a month in payments.
How can you already know what you will be making when you have no building, no money and no clients? Will you be paying back that loan with interest?
Quote:
Originally Posted by Hopeful22
I wish the banks were easier to get a unsecured loan from. Im not giving up hope. There is a way for this to happen out there somewhere.
You told me your house is paid for but you are not willing to "lose your house" for this business venture. why would someone else risk their money for your business idea when they could do it on their own without your input?
I am not saying this is a bad idea. It's a good one. But to go into business without a penny to invest on your own and no intention of *risking your own assets* to get it done will not not put any investor at ease. It didn't give me the warm and fuzzy feeling I expected when I contacted you.
Perhaps you could find a flea market already in existence and sell your items there until you have the captial to start your own.
Thanks Connie,
I dont really need a long term partner. What I really need is about $35,000 - $50.000 to start the market. I have found a few empty buildings but short on funds. I have figured out close to what my profit will be. I could give back around $2000 to $4000 a month in payments. I wish the banks were easier to get a unsecured loan from. Im not giving up hope. There is a way for this to happen out there somewhere.
Hopeful22
Good for you to want to start your own business. I think a flea market is a winner in this economy.
Talk to the man who opened the restaurant in the building on Federal St down by the Avenue. I can't think of his name. He's Canadian if I remember right.
He is trying to start businesses in downtown Bluefield. He might be interested. He might even own a building you could use.
Parking is not that big a problem. There are several parking garages downtown.
As you probably know there is an existing flea market in the garage on the Avenue that operates spring through fall. The vendors there might be interested in locating indoors full time.
Good luck starting your business Hopeful22. I'll stop by and check it out if you get it rollin.
CT, i believe the Charlies have decended into yesturyear. In fact since their demise, we have had the Wheelers, Alley Cats, and now the WV Power in a new downtown ballpark called Appalachian Power Park.
The Saint Albans Mastadon's are going to be an expansion team in MLB. Look for them in 2012.
Good luck starting your business Hopeful22. I'll stop by and check it out if you get it rollin.
CT, i believe the Charlies have decended into yesturyear. In fact since their demise, we have had the Wheelers, Alley Cats, and now the WV Power in a new downtown ballpark called Appalachian Power Park.
The Saint Albans Mastadon's are going to be an expansion team in MLB. Look for them in 2012.
Will they be replacing the WV Power? If not, will the market support two minor league teams? Good luck with the endeavor!
Thanks Connie,
I dont really need a long term partner. What I really need is about $35,000 - $50.000 to start the market. I have found a few empty buildings but short on funds. I have figured out close to what my profit will be. I could give back around $2000 to $4000 a month in payments. I wish the banks were easier to get a unsecured loan from. Im not giving up hope. There is a way for this to happen out there somewhere.
Hopeful22
$35,000-$50,000 is a lot of money to lend on an unsecured basis. Unless you are a high N/W client with proven income to cover that amount on a short term note (5 years or less), it's highly doubtful they'll look at it, especially in this market.
However, if you are willing to pledge whatever assets you do have available but still fall short on covering the loan, a bank may still be willing to fund the deal with a loan guarantee backed by the US Small Business Administration. This type of loan depends very heavily on the detail of your business plan, the soundness of your assumptions as well as the character and creditworthiness of the Borrower(s). The key to remember here is that the bank always relies on one thing to repay their loans- cash. The absoluteness in repaying the loan is the ability to generate cash. The business plan has to address this fundamental issue. The lack of collateral, which is only a secondary source of repayment, can be mitigated by the loan guarantee, in your case the SBA could guarantee to the bank 85% of $50,000 on a standard loan program.
There are Small Business Development Centers located all throughout our state, and the counselors are well aware of the banks that may indeed look at this type of deal. You may want to give them a call if this is an avenue you'd like to take. Their wesbsite is www.sddcwv.org and their toll free hotline is (888) 982-7232
Thanks Threerun, I am still working on this. I think it would be a great business for bluefield. As my dad told me when there is a will there is a way. So Im not giving up.Hopeful22
Just a update. I want to thank everyone who has remarked here. Like I said when there is a will there is a way. We have decide to just buy several acres of ground and open a outdoor flea market for now and than add a building on it next year. We have the backing for the property and this week we are going out to look at several properties. I will udate date this when the market will open. Should be March or April.
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