Hi there - I'm been working for someone else all my life, so this might sound like a stupid question, but I just have no experience with it at all. How difficult is it for a private individual to get funding / bank loans to setup a business idea from scratch?
The idea I have is quite novel, I have completed some market research into it, developed a business plan, and feel it is an idea that would be successful. I would be looking for money to research this idea further, and set-up the business. The idea is something that would involve pro-typing an "invention" and marketing it. The "invention" would be a disepensing machine. The idea being to get these machines installed in various key locations. I can't get into the specifics, but the idea would be that c.50-100 of these machines would be installed as the business grew.
Like most people I have not got much money to invest personally myself. I would be planning on keeping my current job until such times as this business idea was successful enough to warrant me working at it full-time.
My estimates are they somewhere in the region of €90k-€120k would cover the research, pro-typing, marketing, creation and installation of the first 15 machines, which at capacity would generate a profitable business.With the market research, a good business plan, and some key people saying that they would be interested in installing such a machine, should it exist, how difficult would it be to obtain the money to get this business off the ground - from banks, investors etc ?
Cheers
The idea I have is quite novel, I have completed some market research into it, developed a business plan, and feel it is an idea that would be successful. I would be looking for money to research this idea further, and set-up the business. The idea is something that would involve pro-typing an "invention" and marketing it. The "invention" would be a disepensing machine. The idea being to get these machines installed in various key locations. I can't get into the specifics, but the idea would be that c.50-100 of these machines would be installed as the business grew.
Like most people I have not got much money to invest personally myself. I would be planning on keeping my current job until such times as this business idea was successful enough to warrant me working at it full-time.
My estimates are they somewhere in the region of €90k-€120k would cover the research, pro-typing, marketing, creation and installation of the first 15 machines, which at capacity would generate a profitable business.With the market research, a good business plan, and some key people saying that they would be interested in installing such a machine, should it exist, how difficult would it be to obtain the money to get this business off the ground - from banks, investors etc ?
Cheers