Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - Questions About Starting a Business (potentially)...Financing

Derek Sutton · 05-02-2016, 08:30 PM

So I've recently been working at starting my own business, I have a fairly solid business plan (so I've been told) with finances projected for the first three years. As I am an amateur at this I obviously have a ton of questions, for now they primarily surround financing. And finding a (retail) lease/ location.

Regarding Financing, how much cash and assets is commonly required to put down? Some say 25% but does that vary on the principle? If I need 250k does 10% get it done? If I have that much in savings am I expected to risk all my own money? and what sort of term am I looking at? Much of the initial cost would be for equipment which should be considered assets, does that play a part? And how is the best way to keep my personal assets separate such as home, rrsps, car etc.. from the financial side of the business. I've been looking through the CSBFP but would like some more information before I make an appointment to speak with some bank people. I'm also gonna set up an appointment with a Business Advisor from my local Community Futures branch, I have also registered for a 6 week long course in setting up a business with another not for profit organization in July which I will qualify for should I still be unemployed.

About a lease, any and all information is appreciated. I firmly believe I have an excellent plan, in a huge market with current and long term demand. Of course if you open where nobody will visit, that poses a problem. Another huge problem is that in any new developments, the anchor tenants can pretty much veto anything they want, that and lease pricing are two of my biggest hold ups right now.

Thank you all in advance.

05-02-2016, 08:30 PM	#1
Derek Sutton First Line Centre Join Date: Nov 2010 Location: Sunnyvale Exp:	Questions About Starting a Business (potentially)...Financing So I've recently been working at starting my own business, I have a fairly solid business plan (so I've been told) with finances projected for the first three years. As I am an amateur at this I obviously have a ton of questions, for now they primarily surround financing. And finding a (retail) lease/ location. Regarding Financing, how much cash and assets is commonly required to put down? Some say 25% but does that vary on the principle? If I need 250k does 10% get it done? If I have that much in savings am I expected to risk all my own money? and what sort of term am I looking at? Much of the initial cost would be for equipment which should be considered assets, does that play a part? And how is the best way to keep my personal assets separate such as home, rrsps, car etc.. from the financial side of the business. I've been looking through the CSBFP but would like some more information before I make an appointment to speak with some bank people. I'm also gonna set up an appointment with a Business Advisor from my local Community Futures branch, I have also registered for a 6 week long course in setting up a business with another not for profit organization in July which I will qualify for should I still be unemployed. About a lease, any and all information is appreciated. I firmly believe I have an excellent plan, in a huge market with current and long term demand. Of course if you open where nobody will visit, that poses a problem. Another huge problem is that in any new developments, the anchor tenants can pretty much veto anything they want, that and lease pricing are two of my biggest hold ups right now. Thank you all in advance. __________________ The only thing better then a glass of beer is tea with Ms McGill Last edited by Derek Sutton; 05-02-2016 at 08:35 PM.