Financing Small Buisness
The situation is that recently two stores in the town I live in both went out of buisness (one due to the death of the owner, the other due to financial troubles) both of which served the same (at least very similar) clients. Now, there isnt a single buisness in town that provides services to what (I believe) is a rather large potential customer base. A good friend and myself have been frequent customers of gaming stores for the last 10 years and are looking into the possibility of trying to start a small buisness. None of the stores in town in the past have lasted more than 5 years, but we firmly believe that we know where they all went wrong (expanding to try to compete in areas that weren't profitable, impropper inventory, lack of an online presence, etc). My main problem is both of us are currently in college (though have few actual collegiate debts due to good scholarships, etc), but neither one of us has an extensive credit history. Funding is a major concern (as we have been discussing what type of facility we would need, and it unfortunately seems that there aren't any options that meet the criteria we would like)...any suggestions on what our options are for funding (is a long-term loan totally out of the question, would we have to find some third party with the necessary financial history, etc)
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