Convertible debt is a financing option that gives investors the right, but not the obligation, to exchange the value of their debt for equity on a set date or when certain events occur. Convertible debt offers investors and companies a high degree of flexibility, low ongoing costs, and a large source of funding. What Is…
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How to Open a Bakery in 6 Steps
To learn how to open a bakery, you should start by writing a business plan, researching equipment costs, and finding a location. A bakery can be operated at home, in a shared kitchen, food truck, or cafe. Costs range from $5,000 for an at-home bakery to over $500,000 for a bakery cafe. Every bakery that…
21 Startup Costs Every Business Owner Should Know
Startup costs are expenses for new businesses. Almost all new businesses will have at least a few expenses, such as legal entity registration (around $150), software, and marketing. Some businesses have costs that are not required but are helpful, such as business plan software ($20 per month), professional consultants, and a website ($20 monthly). Tips…
Startup Business Loans 2020: The 12 Best Ways to Fund Your Startup
Qualifying for a business loan as a startup can be difficult. Entrepreneurs often need to utilize multiple financing sources to get their new startup off the ground. Startup business loans can take many forms, including SBA loans, angel investment, or Rollovers for Business Startups (ROBS), and each is unique in what they offer to startups….
How to Get a Loan to Buy a Business
Most people need a loan to buy a business. Borrowers should expect a down payment starting at 10%, interest between 5% and 10%, and terms between three and 25 years. Most loans have underwriting or closing costs, and borrowers should expect to pay on average 2% to 3% of the total loan amount at closing….
How to Crowdfund Your Small Business
To successfully crowdfund your small business you will need to select the type of crowdfunding that best suits your needs as well as a platform to host your campaign. When you set up the campaign you will need to tell a compelling story and adequately describe how your product or business can benefit potential backers….
Business Exit Strategy: 13 Ways To Exit
A business exit strategy is a strategic plan to sell or walk away from a business. You can sell a business with desirable assets for a profit and/or work as a manager. Typically, business owners plan their exit five years in advance, giving them time to maximize the business’s value for investors. Before selling your…
How to Write a Business Plan in 9 Steps
Whether you’re just starting your business or are already established, a business plan can help you plot your future. Additionally, a business plan is an opportunity to show why and how your business will become a success. Learning how to write a business plan successfully requires planning ahead and conducting financial and market research. Here…
Startup Resources for Veterans 2019
Many veterans develop the skills and leadership ability in the military that they need to start their own business. There are a wealth of resources available to veteran entrepreneurs. We’ve compiled a list of 25 startup resources for veterans ranging from financing providers to training and mentorship opportunities—even programs that result in an educational certificate….
SCORE Small Business Mentoring: The Ultimate Guide
SCORE small business mentoring is offered through the national nonprofit, Service Corps of Retired Entrepreneurs (SCORE). The program is free and matches up business owners with volunteer mentors. There are thousands of mentors nationwide, making it possible to find an experienced mentor whose expertise matches your business needs. What SCORE Is SCORE is a nonprofit…
25 Oprah Winfrey Quotes on Hard Work, Success & Wealth
Oprah Winfrey is an American celebrity and philanthropist known for her talk show, “The Oprah Winfrey Show.” Winfrey, whose net worth is estimated at more than $2.5 billion, is one of the most sought-after celebrity speakers. These Oprah Winfrey quotes offer inspiration and may be able to help you and your business. Here are 25…
Free Small Business Software: 24 Helpful Tools
Free business software helps a company save money and be efficient. You can use free business tools to do tasks like send more emails, organize customer leads, build a website, and get more online reviews. To rank the software, we analyzed websites, free pricing options, online user reviews, and personal experience with the tools. Top…