How do I get a business loan to start a Beauty Supply Store?

There are a couple of ways to do this. The most difficult is to start from scratch with your savings and a loan against your collateral, which you would then use to find a place, buy fixtures and inventory, etc.





Second-hardest is to buy a franchise like Trade Secrets. The advantages to a ready-made business are the same as their disadvantages. In the beginning owners appreciate having so many of the details already settled, but some eventually outgrow the limitations on them. A franchise isn't very different from being an employee of the company as far as authority is concerned.





The easier way, especially if it's your first time out to the game, is to buy equity in an existing store or find a partner in advance and proceed as above to either start or buy a business the owner is selling. That way there's also a shared burden, someone to commiserate with, someone to watch the phones, etc. If the company grows and you decide to get out, what your buy-out is worth will be determined by the percentage of equity you hold in the business's value.





So. Check out the Small Business Administration at http://www.sba.gov and SCORE Small Business Counselors at http://www.score.org for more guidance and ears to bounce this off of. Both have financing resources to help you.





Good luck!How do I get a business loan to start a Beauty Supply Store?
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