T Nation

Starting a Business

In a year and a half I plan on starting a small business (approximately 20 employees). Does anyone here have any experience dealing with the SBA or with starting their own business in general? Thanks for any advice you can give.

Invest in a solid business plan covering all from employee pay to marketing before going to the bank. It will make life alot easier. Never have done it yet. But I am surronded by those how have,and have participated in some of the research to help get things off the ground. They all say the better the business plan covering the first two years is the best thiing. The banks like people who come in knowing what is up. They tend to give money to people they think are money educated.

What kind of business? Have you started your plan yet?

I have a bit of experience dealing with the SBA and can give you a lot of advice based on my experience. Tell me more about what you want to do.

I’ve been reading everything I can get my hands on, but I can’t find anything specifically about dealing with the SBA. The plan is to start an after school program for 1st through 5th graders. The program is designed as a character education program revolving around sports. The kids will all have a character education class and then divide up into various sports groups. During the summer, numerous all day sports camps will be run. I’m working on the business plan now. This summer (I’m a teacher) I plan to devote most of my time to finishing the business plan and finalizing the curriculum. When that is finished, I want to approach the SBA. My main concern is finding funding for the facilities. Thanks for any advice you can give.