The State isnt helping...can you?

[Logan]

Tonya, I make small business loans (through the SBA) for a living. Generally, the actual SBA employees aren't going to have all the knowledge about the business license requirements because each area is different. You need to contact the business license office of your local area to find out exactly what you need.

Grants are few and far between and the SBA certainly doesn't provide them, but you may find some grant advice at the local SBA office and through local economic development office. In my area, I have seen grants available especially in depressed parts of the state, where economic development is very important. Of course, this usually means that they want to see potential jobs for the citizens of that area. The SBA is there to encourage lenders to be willing to lend to small businesses, but they don't actually make the loans. The lenders do. The SBA provides a "guarantee" for a portion of the loan to reduce the risk to the lender.

SBA does have some really good resources on their website, though. You should go to www.sba.gov and click on the state where you live and search through the local site to find what resources are available to assist you in thinking through your business plan, putting it on paper, etc. If you need to borrow funds to get started, you need to be ready to put in a reasonable cash down payment and show, through projections, how you will earn enough money to service the debt on the business. The Small Business Development Center in your area and SCORE (Service Corp of Retired Exectutives) are two of the most common resources a new small business owner turns to for aid.

I don't know if this has helped, especially since I don't know what kind of business you are planning to open and where you plan to locate it, but if you have more questions, please feel free to ask me.

Logan

[coco-bean]

Here's a little backround...
I plan to open a pet store...but not sell pets! I dont want to be any part of the puppy mill experience or anything along those lines! There will be things such as...dog food, toys, treats, clothing, accesories and such services as Dog bathing, nail clipping, teeth brushing and once i moved to the North Liberty, Coral Ridge(Iowa) area i plan to start my schooling in Dog Grooming, so once that is taken care of, i can then groom the customers dogs! Once i am well established i then would like to work with the local Humane Societies and help their animals get placed in lifetime homes!
If at all possible i dont want to take out a loan just because...if my business doesnt do well the first few months or even year, i dont want to be late on payments! Right now im saving up as much money as i can, I work two jobs as it is and i had to get that second job just to help pay for some of the bills i have, so im not putting away a ton extra each paycheck but i am getting something to save up! thanks again!!

[Logan]

Now I know a little more, so that will help in my response to you. I can understand your desire to keep from borrowing money and that is admirable. Start up business loans are probably some of the toughest to get, whether the SBA is involved or not, so if you can fund it yourself, or with the aid of an investor, that is the best way to go. Just don't forget to think through all of the expenses that will be associated with opening a new business, including rent, lease deposit, inventory, employee salaries, equipment, upfit of your space, etc etc etc. Your potential landlord may be willing to provide some money towards the cost of the upfit, but that is not always the case. Plus, you will have legal fees involved with forming your business as well as other expenses such as deposits on utilities, etc. In the case of most small businesses, it takes a while to get established and you need to have enough money tucked away to help with those first few months of business expenses, as well as personal expenses, to get you through. I think lack of working capital is the downfall of most small business owners.

You are wise to be thinking ahead. I wish you lots of luck!

Logan

[angelchampy]

Too bad you're not in my area (PA). I'd work for you - being around what I love most - pets!

[coco-bean]

Too bad you're not in my area (PA). I'd work for you - being around what I love most - pets!

Well if your ever in the area and my business is open...stop it, you can work for me while your in town

[Pembroke_Corgi]

Well, I'm not an expert on opening a business, but since you said you wanted to open a shop in North Liberty/Coralville and I'm from Iowa City I thought I'd add my 2 cents.

I'm not especially familiar with North Liberty, but I know there are quite a few independent pet shops in Iowa City/Coralville. To name a few off the top of my head, there's Pet Central Station (Downtown Iowa City & one in the Coralridge mall) Waggin Tails, which is a dog bakery, and Gen X pets & the Houndstooth in Coralville. Plus, there are a few more,but I can't think of their names right now, and there's a dog day care in both Iowa City in Coralville.

My point is, make sure you've got a good selling point- something that is different or better than your competitors. I've frequented all of those stores, and they all have different good points, so make sure you have a better selection/price on something since they are all pretty close to each other and the area is not that large.

Good luck!! If you do open up a shop, I'll be sure to stop in the next time I'm in town visiting my family!