Borrow money to get your boarding kennel business up and running.
A boarding kennel business requires a substantial amount of start-up money - even for those who are not hiring employees. The cost of pet food, utilities, animal care products and adequate space to care for multiple animals must all be taken into consideration. Borrowing money is a common way to get your business off the ground.
Instructions
1. Borrow money from friends and family. Work out a way to avoid conflict on a personal level, such as signing a note stating how much was given and a statement that the amount will be paid with interest. Establish a low interest rate, such as 1 or 2 percent, on a monthly basis. This ensures the friends or family that lend are comfortable with keeping money in the business until the loan is paid off.
2. Write out a business plan. A boarding kennel should include the costs of food, utilities and other costs related to the kennel, information about the business policy and procedures, and the estimated profits and losses for the next few years.
3. Talk to a bank. Banks often offer small-business loans for business start ups. The bank will run a credit check. Banks usually require a photo ID such as a driver's license.
4. Discuss your business plan with the bank. Bank officials are more likely to give a loan to an entrepreneur who can demonstrate knowledge of their chosen industry. Give the bank the basics behind what a boarding kennel provides clients.
5. Explain the potential risks of the business. A boarding kennel might not get enough clients, or could suffer from an outbreak of a disease that spreads to all the dogs, or there could be injuries through dog fights. Explain an action plan on handling all of the potential problems. For example, keeping violent dogs away from other dogs, or having a vet available on short notice.
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