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There are [spp-tweet tweet=”3 ways you can get funding for your next Gas Station Business project if you are short on cash”]
3 Ways to Get Started
- Crowd funding( building a consortium)
- Get investors
- Look for partnership
But before you go pitch anyone about your business idea you need to be prepared so you it looks like you have your acts together and it shows that you know your stuff and that you sound confident, remember no one wants to invest with a sloppy confused business operator.
Here are the 7 following things you have to get ready first
- Find a great and profitable business
- Gather up all their sales , purchase and expense data
- write up your own business plan based on that specific business
- Create P&L again based on the current sales and expenses
- Create projected P&L based on the improvements you out line in your business plan (Make sure they sound realistic and attainable)
- Crate an awesome sales pitch outlining how you plan to share profit or payback your investors (ROI)
- Find some suitable people then go do the best pitch you can
Once you have the investors/partners, then the second phase of your work begins.
Make sure you do these 3 following steps
- Draw up partnership or consortium documents by an attorney where you outline everything about this legal entity
- Draw up operating agreement, this is important, this is where you outline how this company will operate, how this company will distribute profit, dividend and such. Who will be responsible for day to day operation, who will keep the books, how you will resolve dispute if there are any among members or partners or shareholders.
- Set up with a system with your accountant where monthly or quarterly P&L’s are furnished to your shareholders
Once you gain the confidence and trust of your investors , they will want to grow more so it will be your opportunity to get more businesses and grow big
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