Saving for business purchases.

**mommy4ever** · 11-26-2007, 01:10 PM

Right now, I'm losing money... not in the sense that my business is sucking money out of our budget. But in the sense that I have to turn away ALOT of business because I don't have a commercial machine.

I can get a used one, but they start about $7000. I'm trying to figure out how I can accomplish this? I have 2 potential large contracts one would be one time the other potentially on going. But unless I get that machine, it won't happen.

Any ideas on raising capital? Here, small business loans are next to impossible to get, and as a SAHM, I really don't qualify for a personal loan, so I need to make the money.

Would love ideas from others who have raised the money.

**sdrjeolsen** · 11-26-2007, 01:23 PM

Have you checked into www.prosper.com? They are a peer to peer lending comunity where people bid on your loan (a lot like ebay for loans). The rate you get is based on your credit and debt-to-income ratio.

**sdrjeolsen** · 11-26-2007, 01:24 PM

By the way, I wanted to say, that is a great problem to have! Congrats on the success of your business.

**mommy4ever** · 11-26-2007, 01:35 PM

Hehe..it is kind of a neat problem to have, but it frustrating to turn away business. It would be one thing if I were too busy, but it's another to just not have the capability.

I have to say, dh is on board to some extent. Seeing that I made nearly $1500 this weekend, really opened his eyes that i have a good idea on my hands. It's just to get what I need to expand!

**sdrjeolsen** · 11-26-2007, 07:39 PM

Had one other thought. Is there anyone else that you know that does this that maybe you could rent time on their machine from? If so, they may be excited to get a little extra income and you could build up your savings with the extra product you are producing.

Or what about a sponsor? Sort of a business partner. I duplicate CDs and DVDs and the equipment is pretty expensive, but I didn't have to fork out the money for it.

Ok, one last idea....for now, lol. What about working on it for a year to build up enough stock to do several shows next holiday season and then go for the big machine with the profits?

**mommy4ever** · 11-26-2007, 11:39 PM

The last one is likely the way I'll be going.

I'm looking into getting into the farmers markets. I got into on on Wednesday to realize that it won't work because my girls have power skating so dh can't watch the dayhome kids for me to leave early. I might be able to do one day, but we'll see. I'm going to ask the one mom is she can arrange her schedule for early pick up that day. the other child could meet me there, she'd be closer for pick up then my house.

And it's so CHEAP to do. If I can't this year, I'm reserving for NEXT year. Period. One year notice tot he families to book their days off around that..lol.

I'm in 2 other shows and looking for one more, or debating on doing the BIG farmers market here in the city. This would be every Saturday for a couple months. It would mean building my stock in a huge way, so that I can do it. But I think it could bring in $700 a day there. 3 months could get me a small industrial machine if I could do it. So I'm really leaning that way. I don't want a partner, it leads to issues, leasing in Canada is next to impossible for me because i"m on our mortgage. It maxes out my credit even before my credit cards..lol. But owning a house is good. AND since i'm paying things off, I don't WANT another payment, so an aggressive sales plan for next year is the way to do it. I've already started making for next year. I'm finishing up my custom orders, and then I have 2 new orders that came in today, so I'll do them next. And just work on fill fill fill and build that inventory for next season.

I have more items I want to add, that I didn't get to. I'm amazed at pet items. People go crazy. OH, I'm going to get some stuff made up and approach a few pet boutiques too. See if they'd want my bandanas. And set up a custom system as well.

Thanks for brainstorming with me. It made me see what needs to be done

**frugal-fannie** · 12-01-2007, 12:32 AM

I might have mentioned it on another post. But do you have any items to sell on ebay or just sell. Like gold items that you don't wear. Check the price of scrap gold on ebay and you would make a lot more there Make sure you set a high starting bid and check out a scale to weigh. Make sure the items are actually gold if you advertise it like that.You could also pawn items if you are sure to have the money to redeem them. I have pawned my jewelry from a few hundred to 5k at a time when I want a loan and do not want the loan to show up on my credit report.