Why Do I Need $50K to Start a Business?
Why Jason?
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Yes, why Jason?
People are asking exactly how the money will be used and a few other questions.
Why do you need $50K?
How much will your business need to start up?
I even had someone ask me why I am not asking for more. Isn’t the kind of business you want expensive to start?
Here is the plan:
We have a business plan. The plan opens with Flora and I starting an eBay and Amazon FBA account. Not only will these accounts be used to raise money for the business, but they will be used as a training ground for the VAs we hire.
There is specialized software we use to find valuable products to sell on Amazon, and the costs of the licenses for the VAs are not cheap.
On the eBay account, I will be sourcing used clothes at thrift stores and discount houses. Some will be sent to sell in the Philippines, some will be listed on eBay. The VAs will be a valuable asset when creating listings and talking to buyers.
While some money will be used to source clothing, most will be used for online arbitrage, where we will source discounted products online to sell on Amazon. I will also be sourcing offline in stores around Tucson and Phoenix.
You can imagine that hauling all that product around will need the space of a good cargo van and you are right. Some of the money will be used to buy a vehicle that will serve as a way to ship and store our products.
Then comes the job of training these VAs. Flora is an expert on sourcing products. She has made businesses thousands of dollars in revenue with her drive and experience, and she knows her way around the marketplace. Flora will take care of all training and management of the VAs we hire.
After starting and the initial outlay, there will be costs associated with gas, shipping and supplies, office rent, mailboxes, and travel to sourcing locations.
Once the business is up and running, it will operate on a cycle that will send all our profits back into the business for the first year. The business will need fresh capital each month to operate, and the best place to get it is from our own profits.
Why did I only ask for $50K?
We feel if we set up the business correctly, it will start to make profits within a few months which can then fund further expansion. We don’t want to rely on our friends to do everything for us, we want to contribute to our own success.
And we want to give back to our community. Unlike many VA agencies, we won’t charge the VAs for training. We want them to start earning as soon as possible, to feed their families without undue hardship. We want to get them to work as quickly as possible.
This is a labor of love for us and something that both I and Flora have been training for over a year. We had originally wanted to start a whole ago, but without a foot in the USA, it would have been expensive and almost impossible to do what we wanted to do.
Now that I am living in Tucson, and Flora and the family are getting ready in the Philippines, things are moving quickly. Some of the initial tasks have been done with a small investment from a friend, and that is helping us get off the ground.
We need you to help us with whatever you can afford and not cause hardship to your own lives.
Maybe $20 is a few fewer Starbucks runs for you, but for us, it is the difference between success and failure in our business. Give as much as you can, and Flora and I will continue to update our progress on the page and the GoFundMe website.
Thank you for all your help!
