Junior Member
I am considering opening up an Automotive Service Shop. I'm assuming that I will need to take out a loan to purchase shop tools and other misc. things needed to operate the shop. How do I know how much loan I should take out? Enough to cover what I need and to keep the shop running for a year? Any tips or advice would be greatly appreciated. Thanks.
YE Veteran
Have you thought about buying a shop that's already running? It's kinda the same tactic that we are doing instead of opening a restaurant from scratch. Because there's already an existing shop, a business appraiser can value that shop and give you a ball park of how much it's worth then you can apply for the loan.
Just a thought.
LT
Do a thorough financial analysis.Originally Posted by spartanic
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