Packing Up The Supplies And Giving Up On My Dream
Business By ohsugarsweets Updated 11 Jul 2013 , 1:19am by mariel9898
AWe rent our home. I really think I'm just going to have to put everything on hold :( I really really appreciate everyone's advice and suggestions. Yall are the best!
Yes, I understand what you are running up against. I went through the same thing. If one didn't need/want to borrow over $1000,000 NO ONE would talke to you. I was told to "max out my credit cards" to get $$ :( I didn't, still don't & never will have any credit cards. I learned very early in my marriage I could not handle that.
Crowdsourcing can work for businesses that provide a product or service that can be shipped or accessed online, but for a local retail bakery the pool of people who could realistically patronize the business is too small to be of much use.
I just saw a lady on Kickstarter who is raising funds for a store front bakery- I'm not sure if they are planning to ship products out- it didn't appear to be as they are a small mom & pop operation.
Also- I know someone who is thinking about crowdsourcing to support his dream of becoming a writer- I would never contribute to that because what homeboy needs to do is get himself an actual job and do his writing in his spare time and not look for ways to not actually work a real job. But that's another topic- my point is that there are a lot of people trying to raise funds via these options that are not so conventional. Who knows if they will succeed. I think if other cake businesses are giving a go, why not the OP?
I know the feeling. I have a job interview to go back to teaching next week, because both of my small businesses are a bust right now.
I have also tried the SBA route and I know that it's a catch 22. They won't give you the money unless you can show 2 years of biz records. I do think that your home biz would qualify in that way.
Kickstarter might be a legit option. There are a lot of food biz success stories on there, but you'd have to do the marketing to get your entire community involved. On the upside, your community would be really invested in the success of your business if the members invested in your business.
The awards would be easy to provide because it could all be product or experiences.
LIke:
$20 1 doz cupcakes on our opening weekend.
$50 8 inch birthday cake in our signature style
$500 birthday party for 6 at the "chef's table"
'
$1000 cupcake of the month club.
Another vote for Kickstarter, but be aware that money raised is counted as income so speak to your tax preparer first. If you do cookies or something that can be shipped like brownies, candy, etc., that will broaden the base of people willing to contribute.
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