| If you are considering a small business start up loan to | | | | Seven months after Jim's grand opening, he got word |
| finance your dream of owning your own business, | | | | that a mega fitness center franchise was opening a |
| proceed with caution! You may be putting your | | | | location right down the road from his gym. This new |
| personal assets at risk. It's wiser to consider financing | | | | fitness center boasted of an Olympic sized swimming |
| your start up business with free sources of business | | | | pool, fitness classes, child care and a staff of buffed |
| start up funding. Most small business loans are secured | | | | and bronzed personal trainers. What's even worse? |
| on your home or other high value assets that you own. | | | | The monthly membership fee was far less than what |
| Such was the case with a business owner named Jim. | | | | Jim's fitness gym charged! |
| Just listen to his story. | | | | I can tell you that Jim spent many sleepless nights |
| True Life Horror Story | | | | worrying about the future of his new start up business, |
| Jim wanted to open a 24 hour fitness club in suburban | | | | and the mountain of debt that he was sitting on. |
| Atlanta. After conducting thorough market research, | | | | How Does the Story End? |
| he discovered that a fitness club in his community had | | | | Jim has had to lower his monthly membership fees to |
| great potential to turn a profit in as little as two years. | | | | compete with the new fitness franchise, sacrificing the |
| Jim decided to attend a paid business plan workshop | | | | profitability numbers from his business plan. He also |
| at a local university. | | | | had to increase his advertising budget and offer |
| After completing the course, he held in his hands one | | | | members greater incentives for joining - another blow |
| of the most impressive, money winning business plans | | | | to the profitability numbers. Jim is still keeping his head |
| you could ask for. This plan was sure to have the | | | | above water. He decided to hire a Start Up Business |
| bank's loan officer salivating. Jim was approved for a | | | | Efficiency Expert to help him lower his operating costs. |
| small business start up loan with no problem. After all, | | | | Don't allow what happened to Jim happen to you. Do |
| he was unmarried, employed full time and owned two | | | | thorough research on any small business start up loan |
| properties. His high credit rating, savings account | | | | package you are considering. Also, consider how to |
| balance and experience in the field as an award | | | | avoid taking out a loan altogether, by investigating free |
| winning body-builder, made him a "shoe in" for loan | | | | sources of start up business financing. |
| approval. | | | | |