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Financing


dperry
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I have a question for you all.

I noticed that many of you are just starting out, but you have 20,30,50,100 or more machines.  This means to me that you have had some sort of capitalization to get your businesses started.  My question to you is where did you get your funding?

I have a really good job, but I also have lots of bills and expenses.  So much so that I don't have any appreciable amount of money at the end of the month.  I started my business with a $300 credit card and used it to buy about 8 machines.  I had worked up to 15 machines in a year and a half by reinvesting 100% of the income back into the business.  I expanded this last summer to 30 machines when I got a $1,500 loan from Prosper.

So, where did you get your money to get to where you are now?

 

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Darryl,

I did just what you did, used credit cards and took a small loan  to fund my initial purchase. I reinvested the first 2 1/2 years until I had enough machines to make it full time then reinvested 20%.

I dont know if you saw it but there is a really good compounding growth chart under growth models in the members plus section. At your current number 30 you could get to 150 machines in 12 mo. just reinvesting and locating yourself.

jimbo

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im just a cheap golpher and reinvested everything i could. i started out with nothing. i got pissed off at work about 2 years ago and quit. had to start. with very little. i will not borrow money for machines. i am no where near where i want to be, but hope to get there in the next 5 years.

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