There are a ton of methods you can finance a tiny enterprise — which includes your new startup. So really do not wait to start your possess business because you are a small limited of money.
Trying to get out investors is just yet another simple stage in starting off a small business. Aspect of that system may possibly be writing a excellent pitch letter to opportunity traders.
Here’s my sample pitch letter for financing:
Angel Trader Community of Greater Metropolis
1000 Major Street
Metropolis, NY 10020
Expensive Mr. Smith:
To abide by up on our cell phone conversation, I am forwarding you the asked for copy of my enterprise prepare for Bob’s Rent-A-Bike.
We will be leasing bicycles to summer season readers on Cape Cod commencing this coming June. I believe that we are very well positioned to thrive in the enterprise for the reason that we will aggressively boost our tactic of offering our bicycles right to our customer’s summer destinations, this kind of as motels, campsites, and summertime property rentals.
There is a large industry for summer season bicycle rentals on Cape Cod, with hundreds of bicycles becoming rented in lots of places in the course of the space. But there is but to be a company that provides rental bicycles correct to the customer.
We are in search of financing of just $7,500, largely to purchase a fleet of 50 employed bicycles and also to aid deal with start out-up expenses such as advertising. I am investing my individual cost savings of $2,500.
I know the $7,500 finance total is quite a little bit much less than your typical investment decision motivation. Having said that, there is a significant upside to Bob’s Rent-A-Bike. On top of that, the threat is extremely lower due to the fact there is a big market for bicycle rentals on Cape Cod. We consider a lot of men and women would prefer to have bicycles sent directly to them. In addition, simply because the majority of the expenditure is for bicycles, your financial commitment would have sizeable protection.
I will contact you in a few days, following you have had a possibility to assessment the small business system. In the meantime, do not be reluctant to call me with any issues.
Bob Adams is a Harvard MBA serial entrepreneur. He has started off in excess of a dozen businesses together with a single that he released with $1500 and marketed for $40 million. He has prepared 17 books and created 52 on line courses for business owners.