For the last year and a half my business partner and I have been working on our business idea, Bowling alley, we are both 22 and we live in sligo ireland, where we lived we noticed we had pretty much everything from cafes to shopping centres to clothes shops, bars and restuarants etc, but no real leisure facilitys so we thought a bowling alley would be great, not long ago our local paper printed an article on how our town needs a bowling alley so this got us excited as we knew we have a market and it would be a success, we have done courses,completed a very good business plan with projections and all market research added,only thing is we are both 22 and have little money,we have been saving but we only have €10,000 to date so we needed help regarding investment to get this thing moving,we set up meetings with our local enterprise board and although they think its a great idea,they cant give grants to our kind of business,its got to be manufacturing for them to give any kind of grant aid, so this leaves us with the banks, I spoke to a good friend who works in a local bank and told him how we need €120,000 to get this open and he said there is no way any bank would give us that amount,not in todays climate,no chance,so we thought last chance saloon is a private investor,we have put our idea on a investment site,based for ireland and the uk but after 5 people being interested we have heard nothing back from these,its been very frustrating for us as we know we have a business that could be very successful, yet we cant seem to get the help, we have had every door shut in our face, to make things worse there is rumour going around that some fat cat business man with big pockets is thinking of opening one and has applied for planning, so after all our hard work and dedication, thats it gone as we cant think of what else to do ... i feel so deflated and down to be honest, life eh!
Answer1:Have you done all your sums? A business such as a bowling alley would be highly dependent on returning customers, especially if its not in a major population centre.Do you know what percentage of locals are regulars at similar alleys in Ireland? What is you catchment area?What about running costs, insurance, licensing costs, protection money? Recruitment costs, publicity? Could you survive a similar attraction being opened nearby?If you have the answers to all of this, people will listen.
Answer2:hey im so sorry to hear that, but you guys are close friends , dont worry, try to getter more money, increase your capital and one day you will be able to do it, it doesnt matter there will be 2 places, there will be a kind of competition b/w.taxi drivers make allot i heard, you buy taxi and rent it further,and drive taxi your self, i heard in few years he didnt drive taxi any more because owned so many and had rented them out. hope it helpgood luck
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Answer4:Great Idea!First off you talked to a friend that works at a bank. Thats not the same thing as applying for a loan and making a presentation to a bank officer. Second, triple check your figures they seem a bit steep to me. Your familiarity with the financial side will go a long ways to convincing a bank officer that you know what you are talking about and they will be less reticent to loan money to someone who has done their homework.Third, have you considered going to the manufacture of the bowling equipment to either subsidize or partner your project? They have a vested interest in you buying their equipment. At the very least they would be a great source of information and might be able to give you additional ideas. Note: I said manufacture not a supplier or agent. Consider have a fund raiser to bring your initial investment capital up.Go to your family and ask them for a loan or to buy shares.Work on your presentation, you need to be able to talk fluently about your project and be able to answer any questions that a prospective investor might come up with. Like what kind of maintenance is normally required to keep the equipment working? What type of permits will you need to meet local regulations? You should be as well versed in bowling and the business side of your project as you can be to put forth a good intelligent image this will negate any question of your age.Keep pushing. Dont get discouraged your problem will be solved around the next corner. Good Luck!
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