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  • Help I Need Money for Starting Own Grooming Business

    I really need some help and advice here.

    I am very proud to say I am self taught pet groomer and have been in the industry for 20 years. The salons I've worked in 1994, 1995,1996 and 2004 was voted best place to get your pet groomed in and by the community and then in 2003 I have a award for beginner mix breed competition. So this is alittle bit about my self in the industry.

    My husband was injured several years ago on the job and was completly disabled, so I am the major supporter in my family of 5.


    I am trying to open my own business. I have the experience, the know how, and the clients. Heck I've even been looking at future buildings for the business. My clients of about 60 - 70 that I've ran into are eager for me open up my own business. I've done my research, business, financial, and loss/profit plans.

    I went yesterday to apply for a business loan and the bank told me that they are not doing business loans right now because of the nations financial situation. But he tried another way for me to get a loan but unfortantly I had no clue how to achieve a financial score until now and because I've always paid cash for everything I've had bills that were late in payments. So needless to say I have no to low credit history.

    I've been looking for either lines of credit, loans, grants, and investors. I've had troubles with loans, I've tried to search for the grants for women and I've tried for investors through recommended sights. I've had only one response for a investor but I can't find much information on the person who wants to invest.

    Can anyone make any other suggestion for me? Sorry this was so long but it helps you understand what I need.

    Lisa
    Last edited by mygrooming; 09-25-08, 08:56 AM. Reason: removed employement descrepticy

  • #2
    Traditional business loans require collateral, usually cash in savings or equity in property. They almost always ask for a written business plan too.

    The Small Business Adminstration backs most of these, and they have paperwork, however, they have programs that might help.

    You can bet it is going to get tougher to get loans right now without a strong credit rating, or co signers or collateral.

    Grants for a for profit venture are tough but possible. I will let others here recommend some sources.

    I've had many clients start a home business for less $10,000 and even half that but that's usually when they own their property.

    Some even start for much less by going housecall to get cash flow going.

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    • #3
      I tried with property that I own. I have valuable doll collection and several other home items that I applied to the loan. I really don't have anyone that I can ask for co-signing.

      The only program I know in my area for SBA's for women beside banks will help but you need to pay them $75 to $100 for their SBA classes. And right now I don't have that kind of money. In short I got caught with my shorts down and now I'm trying to pick myself back up.

      I've done some in housecall service already but in the community that I work in is pretty high class examples: 3M Employees/CEO's, Doctors, Lawyers ect... So they are not keen on this idea, if you know what I mean.

      Lisa

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      • #4
        sorry was duplicated.
        Last edited by mygrooming; 09-25-08, 05:43 PM.

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        • #5
          Hell, I need help paying my bills!!!

          sorry, I couldn't help myself. I think your best bet is going to be housecall. I think you would be able to start your own housecall business with very little cash out of pocket and that will at least get you started to getting some income and get money set aside for an in-home business or a shop rental.

          good luck!!
          ~*~*~Shawn, C.M.G.~*~*~
          Apparently common sense isn't all that common
          *~*~emipoo on egroomer*~*~*

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          • #6
            I agree

            Home based or housecall. I prefer home based. Even if you have just one room you can dedicate and purchase a booster bath. With no overhead to speak of you can start working on that nest egg. Good luck!
            "The gift which I am sending you is called a dog, and is in fact the most precious and valuable possession of mankind"-Theodorus Gaza

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            • #7
              I know someone that did it out of a bedroom in her home. But she would go get the dogs and bring them to her house.... after a year or two, she was able to put a small portable building on her property and finished it into a cute little shop but I believe she still goes and gets the dogs and then takes them back home.

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              • #8
                It seems you don't have a good credit score and without it, it's near impossible to get a bank loan for a busiess. I felt very lucky to get the loan I got at the time that i
                Got it and I had good enough credit and a business plan. I'm wondering why you feel you need to open a new salon. I just opened up last week and it costs a small fortune and you can't expeect to make a profit anytime soon. If I make enough to pay my salon bills during the first few months I will be thrilled to death. If you only have 60 clients that's not enough to pay your bills. My intent isn't to be mean I wish you the best I just feel the desperation in your post and am wondering if there's a better route for you. Are you grooming somewhere now? I would just think that a sure paycheck would be better than risking it all on a business venture in this trying economy. If you really want a business I would suggest as others doing a house call kind of thing. Anything related to government grants can take months or even years to push through. I think there's a link on this site somewhere for that.?? Only other option would be to get approved for a credit card but without a good score it would be very high interest rate. Whatever you decide good luck.

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                • #9
                  i agree with the rest. Opening a new business is just too risky with this economy. Have you thought about other options? Perhaps renting a space from another shop. Or ask some owners to pay you a higher commission if you bring in your own clients... Just a thought.

                  With this slow economy everyone is strapped for cash.

                  Stephen: I am speaking in general and not just this thread. Opening a business is not a problem right now or large risk depending upon the financial status of the new owner. They may do better as a groomer than being outmoded by businesses laying off people. The key is to borrow no more than you need to, start small, grow big later if that is your plan. I've done so many gararge operations for less than $10K and they made all that back and more in a few months. I've seen housecall for less than $2000 with all equipment and advertising. Know your area, study your markets, this is why we do business plans, it forces us to look at real costs written down and then it says this is your breakeven point, and it forces you to look at reality of your market area etc. Now if you don't have collateral and co signers, indeed, get a job. Work and save, I have and we have had on this board even corporate groomers over $100,000 a year and you know what you need to save by virtue of your plan for housecall to whatever. We don't feel in limbo when we work out a plan, we verify our hopes, dreams, desires against reality, and if not now, well start saving.

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                  • #10
                    I'm so hurt right now I'm almost in tears! Because I can't truely express my situation but admin. wouldn't allow it and I can't mention names because the situation there. All I can say is I did nothing but grow the business at the last shop I worked at. And the other thing is I'm sick of companies that I've worked for has no clue what grooming is about and they try to dictate what and what I can't do to keep the business. Like I said I house calls won't cut it for the area I work in. It's a high class area such as lawyers, doctors, 3M Eployees/CEOs, ect... I dont own my home I only rent and a contract was signed for me not to be grooming out of the rental. Those 60 people that I mention is the one I have talked to personally about my sitution and but once I do my advertising that I'm planning on doing I'll find the rest of my request clients. You see at my last place of employment everyday I work on nothing but request clients with only a few new clients. I was always able to keep all my bills paid with no problem.

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                    • #11
                      housecall

                      Originally posted by mygrooming View Post

                      I've done some in housecall service already but in the community that I work in is pretty high class examples: 3M Employees/CEO's, Doctors, Lawyers ect... So they are not keen on this idea, if you know what I mean.

                      Lisa
                      Lisa,

                      The majority of my clients are just like the ones you mentioned above. I also have several high powered clients and they LOVE the fact that I am housecall. I carry all my equipment and also have a small shop vac and totally clean up after myself and aside from the dog/cat looking great you wouldn't know I was there.

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                      • #12
                        I'm sorry your feeling hurt right now. If you want to send me a PM feel free to do so. We don't say something negative to hurt your feelings we just don't want you to jump in head first into a 2 foot pond. I'm not saying it's bad to start a business but you have to give it careful thought and planning and not let your emotions get the best of you (easier said than done) There is obviously more to the story than you can post.

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                        • #13
                          Originally posted by barkaboutus View Post
                          I know someone that did it out of a bedroom in her home. But she would go get the dogs and bring them to her house.... after a year or two, she was able to put a small portable building on her property and finished it into a cute little shop but I believe she still goes and gets the dogs and then takes them back home.

                          HEY thats my story LMAO

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                          • #14
                            Sorry to say but if you can't afford $75-$100 right now then you certainly can't afford a business. Starting a business takes lots of planning & saving.

                            That's why the nation is so unstable...greedy people constantly using credit cards & taking out loans. If you really want something....save the money for it. Loans can get you into big trouble if you don't have a set plan on how you will be able to pay it back.

                            I have seriously been wanting my own shop for 5 years now...then I had to go and get married (I paid for..and boy are they pricey!!!) got pregnant and ended up on bedrest during the last 2 months of my pregnancy so savings got depleted again while I was off work for 3 1/2 months. I've started my savings again investing in a good money market account with a high interest rate. Family comes first for me so my dream got put on hold for a little while, but I WILL NOT take out a HUGE loan without having money in the bank to fall back on. You always need to think about emergency funds!

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                            • #15
                              Same Boat

                              I too am the sole provider for my family due to DH's accident leaving him completely disabled. It is actually what REMINDED me to follow my dream. I know it sounds backwards, but seeing him having lost his reminded me how callously I had discarded mine. It's a very very very slow road for me, but at least I'm on the right path, taking baby steps towards my goal.

                              Take the time, slow down, make sure your working towards the goal but also do ALL the planning to make it work. This forum has been indepensible, not only in the information and support, but as a safe place to be "home" and feel a part of an industry even before we get fully into it.

                              "Sometimes working towards your goal is more important than attaining it." That statement was the essay on my AP English exam way way way back in High School. Who knew over 20 years later it would still be essentially my manta (ok, rationalization for not having achieved it yet) but seriously ... even if it's not paying yet, you HAVE to work in what you love, even if it's just for you, because you cannot ever be truly successful unless you start on the inside.

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