What kind of business grants should I apply for, inventory, where do I go to get that? How do I find the kind of bookstore I want?I want to open a christian bookstore, how do I get started?
ask god.I want to open a christian bookstore, how do I get started?
As far as inventory and what kind of bookstore to open, i cant help you...thats kinda up to you. But i can give you some advice on acquiring the financing needed to start your store. You're best bet would be to apply for what is called a SB504 loan. This type of loan is covered 50% by the federal government, 40% by a bank, and 10% by you. It makes starting a small business possible because it does not require a large cash injection on your part and it is offered by almost every lending bank. Banks will look hard at your personal credit rating as well as your net worth. So make sure you have worked out any discrepencies on your credit. Also, owning your house with equity in it (net worth) will also improve your chances, as the bank will want collateral for the 40% they loan you. Also, prepare a strong projection for what you think your sales and expenses will be for varying time periods, say quaterly and annually. Any loan officer at a bank/lending institution will be able to give you advice if you are serious about starting your business, afterall, their job is to make loans...I want to open a christian bookstore, how do I get started?
You are going to need some hefty amounts of capital. I would work through your denomination and see what organizations therein make small business loans for Christian-oriented projects. If your denomination does not, ask your pastor for references to other denominations that might.
I will say that I hope you view this ministry as a service, rather than as an opportunity to get rich. While making a decent profit is okay, I would hope you also have some altruistic goals.
My advice to you would be to contact the Small Business Administration www.sba.gov. They will have the information you need and can help you get established with the proper licensing and other information. There are forms that you will need to fill out for your business that they will use to help you get set up with the information you need to succeed. Do not answer any emails you get that say they can help you with grants loans etc. Ask the SBA how they correspond with you in email and watch for their email or letters.
DO NOT apply for any loans until you have contacted the SBA. You might be in for higher rates if you do.
Best of luck in your endeavor
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