A small Price per Head Bookie business might find some difficulties getting that much needed extra cash in order to get started or to fund its expansion because it doesn’t count with an optimal track record.
If you are looking for some funding for your Bookie Services startup, here is some useful information that can help out.
Price per Head Bookie Tips: Explore All Options
In order to determine which available options are better for your particular business needs, the worst thing that you can do is to discard some given options before you actually have the chance to explore them in deep.
Getting a Loan
When it comes to getting a loan, you might think that it is easier to say it than to actually do it.
It is a fact that banks turn down many applications from small businesses, but to get a loan is not an impossible task.
If you are refused a loan by the banks, you can still use other sources such as credit unions.
If you can afford the monthly payments, debt is doubtless a great way to get the funds needed to start your Price per Head Bookie business with the right foot.
If you decide that a bank loan is really what you want, then you need to be quite convincing in order to get a positive answer.
For this reason, you need to create an impressive proposal that presents your business as an stable proposition (instead of telling the banks that you want the loan to start a Pay per Head Services Bookie operation, tell them that you are planning to start a small customer service business, for example).
Also, make sure that you’re able to anticipate the questions that you will be asked by the loan officer. Indeed, the more prepared you are, the more chances you have of succeeding.
Do not confuse the term “angel investor” with “philanthropist” because they are not the same at all.
An angel investor is a person that is looking for investing opportunities that can get him or her good profits based on individual criteria.
Just like with the banks, if you are able to convince an angel investor that your business has the potential for massive profits, you are likely to get the cash you need.
When it comes to angel investors, you really don’t have anything to hide, so you can tell them that you are planning to run a Price per Head Bookie operation.
Angel investors are wealthy individuals who enjoy putting cash into promising young companies, and what is best is that they are willing to take a calculated risk if they like your proposition.
On the other hand, they are also expecting a high return within a determined period of time, so take that into consideration when one of them gives you a “yes” concerning your loan request.
Venture capital is an option that you can take into consideration for your Price per Head Bookie operation at a later period than angel investors.
Remember that venture capital is not given by a person but by a company, and the amount of cash to be loaned is usually larger than the one you can request from an angel investor, plus they will ask you for a share of ownership.
A good example is Facebook, a company that began thanks to a half million dollar loan given by an angel investor and then a year later a venture capital firm invested more than ten million dollars.
This means that a venture capital firm only deals with startups that have shown that they can be truly profitable.
These types of companies are quite similar to venture capital firms in the sense that both can invest in your Price per Head Bookie operation for a share of your business, although they handle things a little bit different.
Instead of searching for the next big-time company such as Twitter, for example, private equity companies are open to a wider range of opportunities, which includes many different sectors and companies that are either new or relatively old.
These companies are known for helping with large investments for a much bigger return.