Getting Finance for a Designer Bags Business

Do you want to own your own Designer Bag Business but your worried you can’t raise the finance needed. Finance for paying rent or purchase of the location of your Designer Bag Business, stock and equipment including your designer bags, shelving, tills, and any other stock you may want to sell like purses etc. as well as insurance. Marketing needs to be considered maybe using leaflets, magazines, books, local shops advertising your new Designer Bags Business. Accounting and payroll needs to be considered carefully where will you get this service from a computer software or will you employ someone to do this for you, also will you employ employees to help you serve customers, as well or taxes you will have to pay along the way. There will also be other hidden costs along you journey of setting up your business or expanding your designer bags business.

The first place most people will look for finance is a bank for a bank loan, the problem with bank loans is that the bank will want you to put some of your own money down as well as the bank charging you high interest rates which most start-up businesses and businesses that are struggling will find it hard to pay back. Below are some ideas where you could get finance for your designer bags business:-

• Your Savings
• Friends and Family’s Help
• Bank Loan
• Credit Card
• Home Equity
• Business Angels
• Venture Capitalists

Before you think of contacting a bank for a loan, venture capitalist or business angel investor for finance backing you should have a well laid out business plan. You need to be able to show them that you have every avenue covered from what happens if your business loses money in the first year and what you would do if anything, to what kind of designer bags will you sell all sizes all makes, where will you get these bags from, will you employ staff to help you if so how much would you pay them, will you sell these bags just to the public or will you sell them wholesale too?

Business Angels help new businesses with the help of finance and business advice, as they have been there and able to advice you on the best methods to bring in customers look after your customers as well as making a profit. They will also help businesses that are struggling to keep afloat with the help of finance and advice when most banks etc wouldn’t take a bit of interest. They are most likely to be entrepreneurs that have a successful business of their own and they will use their money to help your business succeed and make returns on their investment.

Venture Capitalists help larger businesses with problems of finance, they will offer financially help and advice but will be more of a silent partner than a business angel who likes to get more involved.

If you’re struggling to write a business plan for your designer bags business to show to business angels, venture capitalists and even banks then we can help by tailor making your own business plan for your individual business.

So if you want financial help to start-up your own Designer Bags Business or want financial help for your business, angelstartups is here to help. We are able to advice you on the best way to finance your business and put you in touch with business angels or venture capitalists to help your designer bags business mature.