How to Open a Business With No Money Down

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How to Open a Business With No Money....5

Open a business with no money down for the loan by making sure the business requires very little overhead, starting the business as the sole proprietor, and applying for a credit card with low or no interest. Have a well-written business plan to start a new business with tips from a financial consultant in this free video on business financing.

Part of the Video Series: Business Financing
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Video Transcript

Hi, my name is Bill Rae. I'm with Alumni Financial Services. I've been in business for well over 20 years. Today's question is how to open a business with no money down? Boy, is this going to cause fireworks in a lot of arenas. Most people think it's impossible, but the beautiful thing about this country is, it is possible. There are many opportunities out there that don't ask for a whole lot of capital to start up. A word of the wise, though: Make sure you've got something for real. Now, how to start a business with no money...very little cash? Very, very easy. When you get involved in a business, make sure that it requires very little overhead. In other words, you're not going to be required to buy 200,000 dollars worth of meat to stick in your freezer. The other thing you want to look at is start a business where you're the sole proprietor and you can work out of your home. If you've got good credit, apply for a no interest or a very low interest credit card. There's another way you can find capital for your business. By all means, whatever you're going to get into, make sure you have a well-thought-out and written business plan. Don't jump onto something just because you heard it was a hot idea last Friday night. Make sure you do your homework. Do some research. Once you do, have fun. My name is Bill Rae, I'm with Alumni Financial, and we're helping you build wealth.

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