Things You'll Need:
- Credit report and personal finance records
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Step 1
Pull together some unusual recipes you'd like to use in starting your business and build them into a proposal booklet to show potential investors.
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Step 2
Consider preparing a few of your special recipes that travel easily and take them with you when meeting with potential investors. This will show your investors you have the culinary talents and some creativity for this type of work. Also, tasty food can always make an impact and help you stick out in the minds of possible investors.
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Step 3
Discuss the idea of investing in you and your small catering business with "venture capitalists." This is a route taken when you typically need $5 million or more and these are individuals who invest in small businesses in order to share the profits with you.
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Step 4
Look into a business loan from the Small Business Association to finance your small catering business. This is an option that requires a great deal of paperwork. The SBA is very discriminating in who receives their financing.
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Step 5
Talk to a traditional bank about financing your small catering business but realize that this is the hardest way to get money. Typical banks will not finance you until your business is established. The best you can count on is taking out a credit card from a bank with your business listed on it.
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Step 6
Maximize the credit you already have for financing your new catering company. In other words, use your own credit cards and apply for as many as it takes to start your business. This is risky at best, but puts the ball in your court and allows you to rely on your own resources and not someone else.
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Step 7
Ask family members for the money to finance your small catering business. This idea would probably be a last resort step but if it is going to get your company off the ground, then do it.
