Hey, just trying to get some real opinions here.
Me and my girlfriend are looking to open a hot Pilates studio. We’ve got about $40k saved up. Buildout is coming in around $60k-80k. Ideally I’d want to still have like $60k–$80k sitting there for rent, payroll, etc while we get going.
We were originally thinking 0% APR cards which we still might use a little, but I don’t love the idea of being rushed to pay that off before interest hits
We both have good credit and could probably get help from family if needed, but I’m trying not to rely on that unless we have to.
So realistically:
- Can you even get like a loan for something like this with no revenue yet?
- What would you go after first? Personal loan? SBA? LOC?
- Or is this one of those situations where you just piece it together however you can?
We have also talked about selling 15% for 40k to a friend of ours who is interested in investing in the business