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business grants for an arcade? how do i get one? where do i start?
i would like to start a small business, an arcade room/comic book store.
i need a grant to open and start to finance my idea.
where do i start?
let me know, its for a community in need of a place where kids can go to stay out of trouble.
If you are talking in the US, there is very little chance you will find a grant. The federal government does not fund start-ups, which leaves the state government as your source. Some states do have some funds (very limited) for new companies, so you might try your local economic development agency which can point you in the right direction.
However, due to limited funds for these programs, competition is heavy and the states look for the biggest bang for their buck - going for companies in growing industries like technology, bio-tech, etc.
This leaves private funding, for which you will be expected to put up 20 - 30% of the cost of the business out of pocket (credit cards, cash, family, friends, etc.). You'll need a well written business plan to present to the lender showing what the business will be, what your target clientele will be, costs, expected earnings and income, etc.
You need a LOAN, not a grant. That's how a real business person starts a legitimate business.
Best wishes and good luck.
I have news for you. Other than a possible SBA loan, which is a long shot at best, no one is going to give you a "grant." Go to a bank that does SBA loans and apply. When the banker stops laughing, he will tell you no.by I Like Turtles - 1 year ago