Raising funds for start up

bricksbricksbricks

Hi all

I know this has probably been asked a thousand times but i cant seem to find anything at the moment.

I a looking to start a retail business selling toys

However i have a big issue with funding. I need capital to be able to succeed with this. I dont know where to look or source this.

My personal credit rating is relativly low and i probably wont get any loans or credit against me to be able to start this.

can anyone recommend places to look and start.

Regards
Keith

Aquamania

bricksbricksbricks wrote: »

Hi all

I know this has probably been asked a thousand times but i cant seem to find anything at the moment.

I a looking to start a retail business selling toys

However i have a big issue with funding. I need capital to be able to succeed with this. I dont know where to look or source this.

My personal credit rating is relativly low and i probably wont get any loans or credit against me to be able to start this.

can anyone recommend places to look and start.

Regards
Keith

If you don't have the money to hand, and no one will lend it to you, then you'll have to sell something you have to raise the funds.

How much are you looking for? How do you plan to spend it?

Most retailers rely on credit.
Lots have failed when they could not obtain credit e.g. JJB sports, Comet, etc.

If you cannot obtain credit, I think your business plan is probably doomed from the outset.

paddyrg

You need a sleeping partner or to convince someone to lend you stock or money. Try seeing if you can leave something as a guarantee against sale or return stock from a wholesaler, build a relationship from there.

motorguy

Aquamania wrote: »

If you don't have the money to hand, and no one will lend it to you, then you'll have to sell something you have to raise the funds.

How much are you looking for? How do you plan to spend it?

Most retailers rely on credit.
Lots have failed when they could not obtain credit e.g. JJB sports, Comet, etc.

If you cannot obtain credit, I think your business plan is probably doomed from the outset.

As above really. You need to either find the cash yourself - by selling whatever assets your can OR by borrowing from a friend or relative.

When you say "retail" do you mean bricks and mortar retail or selling online?

Is there scope to either operate from a market stall initially or concentrate first on selling online via ebay or gumtree? Any of these will allow you to test the market - and your competitiveness relative to other sellers - without a massive cash input up front.

im-lost

Pretty much no investor, be it banks or private will put in to a business without you having something in the pot.

How much were you looking for?

If upto 5k is enough the start up loans company, ie government backed start up loans could help.

They offer mentoring and loans for up to 5k to startups, you can delay repayments for the first year.

As you say retail I'm going to take a guess that such a small sum won't get you off the ground.